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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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HEARTWELL MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
HEARTWELL MORTGAGE CORPORATION |
| Address | 1580 E. BELTLINE, S.E.
GRAND RAPIDS, MI 49506 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 4,294 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $588,577,000 |
| Average Mortgage Loan Amount Applied For | $140,676 |
| Highest Mortgage Loan Amount Applied For | $2,450,000 |
| Average Applicant Income | $65,981 |
| Highest Applicant Income | $6,000,000 |
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| Home Improvement |
3 | $215,000 |
$71,000 | $182,000 |
$51,000 | $62,000 |
| Home Purchase |
2,415 | $298,805,000 |
$123,000 | $2,275,000 |
$62,000 | $6,000,000 |
| Refinancing |
2,060 | $312,009,000 |
$151,000 | $2,450,000 |
$72,000 | $2,124,000 |
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| American Indian or Alaskan Native |
8 | $871,000 |
$108,000 | $199,000 |
$54,000 | $147,000 |
| Asian |
36 | $5,144,000 |
$142,000 | $498,000 |
$74,000 | $318,000 |
| Black or African American |
336 | $43,939,000 |
$130,000 | $2,275,000 |
$75,000 | $6,000,000 |
| Hispanic |
240 | $29,390,000 |
$122,000 | $1,220,000 |
$47,000 | $432,000 |
| Native Hawaiin or Other Pacific Islander |
5 | $690,000 |
$138,000 | $292,000 |
$51,000 | $108,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
263 | $37,197,000 |
$141,000 | $636,000 |
$58,000 | $329,000 |
| White |
3,590 | $493,798,000 |
$137,000 | $2,450,000 |
$67,000 | $2,124,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
3,502 | $499,166,000 |
$142,000 | $2,450,000 |
$72,000 | $6,000,000 |
| FHA-insured (Federal Housing Administration) |
915 | $103,713,000 |
$113,000 | $243,000 |
$46,000 | $186,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
61 | $8,150,000 |
$133,000 | $282,000 |
$51,000 | $123,000 |
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| Application Approved But Not Accepted |
771 | $108,668,000 |
$140,000 | $2,000,000 |
$67,000 | $6,000,000 |
| Application Denied By Financial Institution |
726 | $101,190,000 |
$139,000 | $2,275,000 |
$71,000 | $2,124,000 |
| Application Withdrawn By Applicant |
513 | $68,834,000 |
$134,000 | $1,220,000 |
$65,000 | $480,000 |
| File Closed For Incompleteness |
4 | $588,000 |
$147,000 | $265,000 |
$67,000 | $97,000 |
| Loan Originated |
2,339 | $315,374,000 |
$134,000 | $2,450,000 |
$65,000 | $1,000,000 |
| Loan Purchased By The Institution |
61 | $9,225,000 |
$151,000 | $417,000 |
$79,000 | $316,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
64 | $7,150,000 |
$111,000 | $671,000 |
$42,000 | $225,000 |
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| Collateral |
60 | $8,873,000 |
$147,000 | $750,000 |
$58,000 | $276,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
334 | $41,087,000 |
$123,000 | $925,000 |
$60,000 | $1,028,000 |
| Debt-To-Income Ratio |
155 | $19,483,000 |
$125,000 | $338,000 |
$42,000 | $172,000 |
| Employment History |
13 | $1,397,000 |
$107,000 | $168,000 |
$60,000 | $120,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $1,102,000 |
$275,000 | $743,000 |
$159,000 | $600,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
214 | $35,180,000 |
$164,000 | $2,275,000 |
$105,000 | $2,124,000 |
| Unverifiable Information |
4 | $630,000 |
$157,000 | $192,000 |
$49,000 | $70,000 |
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Mortgage Loan App Totals for HEARTWELL MORTGAGE CORPORATION by:
Metropolitan Area And
County
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