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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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GMAC BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
GMAC BANK |
| Address | 4 WALNUT GROVE DRIVE
HORSHAM, PA 19044 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2006 |
| Total Number of Mortgage Loan Applications Processed | 185,574 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $32,103,230,000 |
| Average Mortgage Loan Amount Applied For | $117,797 |
| Highest Mortgage Loan Amount Applied For | $4,548,000 |
| Average Applicant Income | $27,787 |
| Highest Applicant Income | $9,999,000 |
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| Home Improvement |
9,073 | $536,457,000 |
$59,000 | $1,829,000 |
$84,000 | $876,000 |
| Home Purchase |
81,748 | $14,646,968,000 |
$179,000 | $3,500,000 |
$38,000 | $9,999,000 |
| Refinancing |
94,753 | $16,919,805,000 |
$178,000 | $4,548,000 |
$29,000 | $9,999,000 |
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| American Indian or Alaskan Native |
682 | $109,536,000 |
$160,000 | $1,652,000 |
$42,000 | $2,180,000 |
| Asian |
3,526 | $839,094,000 |
$237,000 | $1,500,000 |
$69,000 | $2,400,000 |
| Black or African American |
10,859 | $1,789,732,000 |
$164,000 | $2,128,000 |
$27,000 | $1,164,000 |
| Hispanic |
12,316 | $2,210,859,000 |
$179,000 | $1,894,000 |
$32,000 | $2,402,000 |
| Native Hawaiin or Other Pacific Islander |
433 | $83,792,000 |
$193,000 | $690,000 |
$46,000 | $432,000 |
| Not applicable |
12,478 | $3,355,803,000 |
$268,000 | $4,548,000 |
$0 | $0 |
| Not Provided |
22,392 | $3,102,679,000 |
$138,000 | $2,300,000 |
$48,000 | $9,999,000 |
| White |
122,888 | $20,611,735,000 |
$167,000 | $3,500,000 |
$37,000 | $9,999,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
169,736 | $29,894,967,000 |
$176,000 | $4,548,000 |
$38,000 | $9,999,000 |
| FHA-insured (Federal Housing Administration) |
12,267 | $1,673,941,000 |
$136,000 | $463,000 |
$12,000 | $562,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
3,571 | $534,322,000 |
$149,000 | $521,000 |
$10,000 | $157,000 |
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| Application Approved But Not Accepted |
8,799 | $1,583,112,000 |
$179,000 | $2,040,000 |
$105,000 | $9,999,000 |
| Application Denied By Financial Institution |
6,264 | $1,212,728,000 |
$193,000 | $3,500,000 |
$91,000 | $9,999,000 |
| Application Withdrawn By Applicant |
340 | $87,450,000 |
$257,000 | $2,380,000 |
$108,000 | $1,830,000 |
| File Closed For Incompleteness |
9 | $3,032,000 |
$336,000 | $1,500,000 |
$87,000 | $438,000 |
| Loan Originated |
60,100 | $9,280,940,000 |
$154,000 | $2,590,000 |
$86,000 | $4,537,000 |
| Loan Purchased By The Institution |
110,062 | $19,935,968,000 |
$181,000 | $4,548,000 |
$0 | $501,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
1,373 | $221,521,000 |
$161,000 | $1,500,000 |
$81,000 | $2,702,000 |
| Credit Application Incomplete |
1,580 | $405,481,000 |
$256,000 | $2,500,000 |
$105,000 | $2,402,000 |
| Credit History |
766 | $131,973,000 |
$172,000 | $1,000,000 |
$66,000 | $480,000 |
| Debt-To-Income Ratio |
1,102 | $168,994,000 |
$153,000 | $2,250,000 |
$84,000 | $9,999,000 |
| Employment History |
138 | $25,110,000 |
$181,000 | $656,000 |
$69,000 | $195,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
76 | $13,377,000 |
$176,000 | $525,000 |
$74,000 | $222,000 |
| Mortgage Insurance Denied |
1 | $180,000 |
$180,000 | $180,000 |
$57,000 | $57,000 |
| Other |
1,116 | $227,078,000 |
$203,000 | $3,500,000 |
$111,000 | $2,520,000 |
| Unverifiable Information |
111 | $18,834,000 |
$169,000 | $1,295,000 |
$77,000 | $384,000 |
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Mortgage Loan App Totals for GMAC BANK by:
Metropolitan Area And
County
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