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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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GRANITE MORTGAGE
Mortgage Loans and Application Details
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| Mortgage Company Name |
GRANITE MORTGAGE |
| Address | 791 JONESTOWN ROAD SUITE 110
WINSTON-SALEM, NC 27103 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 2,093 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $255,906,000 |
| Average Mortgage Loan Amount Applied For | $148,676 |
| Highest Mortgage Loan Amount Applied For | $1,235,000 |
| Average Applicant Income | $85,281 |
| Highest Applicant Income | $500,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
1,794 | $210,750,000 |
$117,000 | $672,000 |
$61,000 | $500,000 |
| Refinancing |
386 | $54,501,000 |
$141,000 | $1,235,000 |
$69,000 | $500,000 |
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| American Indian or Alaskan Native |
2 | $227,000 |
$113,000 | $144,000 |
$141,000 | $240,000 |
| Asian |
40 | $4,411,000 |
$110,000 | $276,000 |
$54,000 | $153,000 |
| Black or African American |
205 | $22,260,000 |
$108,000 | $375,000 |
$45,000 | $235,000 |
| Hispanic |
132 | $13,767,000 |
$104,000 | $285,000 |
$42,000 | $200,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $85,000 |
$85,000 | $85,000 |
$34,000 | $34,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
1,800 | $224,501,000 |
$124,000 | $1,235,000 |
$66,000 | $500,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,358 | $173,912,000 |
$128,000 | $1,235,000 |
$74,000 | $500,000 |
| FHA-insured (Federal Housing Administration) |
528 | $55,787,000 |
$105,000 | $205,000 |
$43,000 | $354,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
141 | $15,589,000 |
$110,000 | $284,000 |
$37,000 | $77,000 |
| VA-guaranteed (Veterans Administration) |
153 | $19,963,000 |
$130,000 | $330,000 |
$50,000 | $141,000 |
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| Application Approved But Not Accepted |
6 | $783,000 |
$130,000 | $375,000 |
$68,000 | $235,000 |
| Application Denied By Financial Institution |
45 | $3,994,000 |
$88,000 | $400,000 |
$37,000 | $146,000 |
| Application Withdrawn By Applicant |
201 | $22,125,000 |
$110,000 | $623,000 |
$55,000 | $470,000 |
| File Closed For Incompleteness |
29 | $3,069,000 |
$105,000 | $250,000 |
$47,000 | $90,000 |
| Loan Originated |
1,895 | $234,966,000 |
$123,000 | $1,235,000 |
$64,000 | $500,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
2 | $166,000 |
$83,000 | $116,000 |
$16,000 | $32,000 |
| Preapproval Denied by Financial Institution |
2 | $148,000 |
$74,000 | $98,000 |
$26,000 | $30,000 |
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| Collateral |
8 | $610,000 |
$76,000 | $101,000 |
$44,000 | $146,000 |
| Credit Application Incomplete |
2 | $172,000 |
$86,000 | $90,000 |
$30,000 | $36,000 |
| Credit History |
14 | $1,370,000 |
$97,000 | $400,000 |
$43,000 | $143,000 |
| Debt-To-Income Ratio |
9 | $768,000 |
$85,000 | $118,000 |
$33,000 | $66,000 |
| Employment History |
6 | $477,000 |
$79,000 | $110,000 |
$27,000 | $52,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $75,000 |
$75,000 | $75,000 |
$20,000 | $20,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
6 | $545,000 |
$90,000 | $173,000 |
$41,000 | $96,000 |
| Unverifiable Information |
1 | $125,000 |
$125,000 | $125,000 |
$0 | $0 |
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Mortgage Loan App Totals for GRANITE MORTGAGE by:
Metropolitan Area And
County
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