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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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HOMESTEAD SAVINGS BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
HOMESTEAD SAVINGS BANK |
| Address | 415 S SUPERIOR ST
ALBION, MI 49224 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 222 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $20,576,000 |
| Average Mortgage Loan Amount Applied For | $106,181 |
| Highest Mortgage Loan Amount Applied For | $390,000 |
| Average Applicant Income | $71,818 |
| Highest Applicant Income | $371,000 |
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| Home Improvement |
20 | $1,375,000 |
$68,000 | $373,000 |
$86,000 | $371,000 |
| Home Purchase |
101 | $10,991,000 |
$108,000 | $331,000 |
$58,000 | $261,000 |
| Refinancing |
125 | $10,863,000 |
$86,000 | $390,000 |
$68,000 | $212,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $80,000 |
$80,000 | $80,000 |
$54,000 | $54,000 |
| Black or African American |
9 | $585,000 |
$65,000 | $185,000 |
$38,000 | $60,000 |
| Hispanic |
2 | $165,000 |
$82,000 | $88,000 |
$59,000 | $78,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
1 | $30,000 |
$30,000 | $30,000 |
$0 | $0 |
| Not Provided |
7 | $642,000 |
$91,000 | $130,000 |
$75,000 | $261,000 |
| White |
226 | $21,727,000 |
$96,000 | $390,000 |
$67,000 | $371,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
234 | $22,145,000 |
$94,000 | $390,000 |
$67,000 | $371,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
12 | $1,084,000 |
$90,000 | $150,000 |
$31,000 | $52,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
10 | $1,317,000 |
$131,000 | $210,000 |
$74,000 | $177,000 |
| Application Denied By Financial Institution |
40 | $3,929,000 |
$98,000 | $271,000 |
$48,000 | $212,000 |
| Application Withdrawn By Applicant |
19 | $2,241,000 |
$117,000 | $263,000 |
$64,000 | $212,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
162 | $14,057,000 |
$86,000 | $390,000 |
$71,000 | $371,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
6 | $726,000 |
$121,000 | $180,000 |
$52,000 | $107,000 |
| Preapproval Denied by Financial Institution |
9 | $959,000 |
$106,000 | $150,000 |
$36,000 | $75,000 |
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| Collateral |
3 | $175,000 |
$58,000 | $95,000 |
$38,000 | $72,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
33 | $3,113,000 |
$94,000 | $271,000 |
$44,000 | $127,000 |
| Debt-To-Income Ratio |
11 | $1,390,000 |
$126,000 | $201,000 |
$41,000 | $100,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $108,000 |
$108,000 | $108,000 |
$212,000 | $212,000 |
| Unverifiable Information |
1 | $102,000 |
$102,000 | $102,000 |
$43,000 | $43,000 |
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Mortgage Loan App Totals for HOMESTEAD SAVINGS BANK by:
Metropolitan Area And
County
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