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| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
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GATE CITY BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
GATE CITY BANK |
| Address | 500 2ND AVENUE NORTH
FARGO, ND 58102 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 3,079 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $271,374,000 |
| Average Mortgage Loan Amount Applied For | $89,095 |
| Highest Mortgage Loan Amount Applied For | $1,148,000 |
| Average Applicant Income | $56,984 |
| Highest Applicant Income | $822,000 |
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| Home Improvement |
849 | $21,619,000 |
$25,000 | $700,000 |
$65,000 | $350,000 |
| Home Purchase |
1,855 | $215,403,000 |
$116,000 | $1,148,000 |
$67,000 | $822,000 |
| Refinancing |
516 | $47,997,000 |
$93,000 | $617,000 |
$63,000 | $456,000 |
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| American Indian or Alaskan Native |
17 | $1,654,000 |
$97,000 | $289,000 |
$56,000 | $148,000 |
| Asian |
9 | $1,432,000 |
$159,000 | $400,000 |
$125,000 | $275,000 |
| Black or African American |
7 | $764,000 |
$109,000 | $234,000 |
$66,000 | $112,000 |
| Hispanic |
21 | $2,069,000 |
$98,000 | $279,000 |
$52,000 | $104,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $20,000 |
$20,000 | $20,000 |
$52,000 | $52,000 |
| Not applicable |
27 | $7,492,000 |
$277,000 | $1,148,000 |
$3,000 | $94,000 |
| Not Provided |
79 | $6,976,000 |
$88,000 | $200,000 |
$52,000 | $187,000 |
| White |
3,059 | $264,612,000 |
$86,000 | $620,000 |
$67,000 | $822,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,662 | $227,013,000 |
$85,000 | $1,148,000 |
$69,000 | $822,000 |
| FHA-insured (Federal Housing Administration) |
410 | $40,730,000 |
$99,000 | $180,000 |
$48,000 | $618,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
25 | $1,902,000 |
$76,000 | $169,000 |
$33,000 | $60,000 |
| VA-guaranteed (Veterans Administration) |
123 | $15,374,000 |
$124,000 | $240,000 |
$59,000 | $188,000 |
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| Application Approved But Not Accepted |
4 | $375,000 |
$93,000 | $168,000 |
$59,000 | $80,000 |
| Application Denied By Financial Institution |
229 | $13,856,000 |
$60,000 | $320,000 |
$48,000 | $135,000 |
| Application Withdrawn By Applicant |
297 | $29,043,000 |
$97,000 | $425,000 |
$67,000 | $655,000 |
| File Closed For Incompleteness |
4 | $278,000 |
$69,000 | $122,000 |
$39,000 | $53,000 |
| Loan Originated |
2,510 | $222,738,000 |
$88,000 | $1,148,000 |
$70,000 | $822,000 |
| Loan Purchased By The Institution |
35 | $5,084,000 |
$145,000 | $413,000 |
$30,000 | $121,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
141 | $13,645,000 |
$96,000 | $228,000 |
$41,000 | $155,000 |
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| Collateral |
17 | $882,000 |
$51,000 | $183,000 |
$65,000 | $133,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
223 | $16,169,000 |
$72,000 | $320,000 |
$45,000 | $155,000 |
| Debt-To-Income Ratio |
109 | $8,818,000 |
$80,000 | $256,000 |
$42,000 | $118,000 |
| Employment History |
5 | $428,000 |
$85,000 | $124,000 |
$26,000 | $47,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $158,000 |
$79,000 | $87,000 |
$36,000 | $45,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
13 | $912,000 |
$70,000 | $157,000 |
$55,000 | $135,000 |
| Unverifiable Information |
1 | $134,000 |
$134,000 | $134,000 |
$30,000 | $30,000 |
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Mortgage Loan App Totals for GATE CITY BANK by:
Metropolitan Area And
County
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