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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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IC FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
IC FEDERAL CREDIT UNION |
| Address | 300 BEMIS ROAD
FITCHBURG, MA 01420 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 551 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $57,163,000 |
| Average Mortgage Loan Amount Applied For | $106,333 |
| Highest Mortgage Loan Amount Applied For | $562,000 |
| Average Applicant Income | $81,000 |
| Highest Applicant Income | $402,000 |
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| Home Improvement |
115 | $4,223,000 |
$36,000 | $255,000 |
$74,000 | $180,000 |
| Home Purchase |
165 | $31,620,000 |
$191,000 | $562,000 |
$68,000 | $280,000 |
| Refinancing |
367 | $41,862,000 |
$114,000 | $460,000 |
$73,000 | $402,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
7 | $1,357,000 |
$193,000 | $360,000 |
$53,000 | $86,000 |
| Black or African American |
9 | $1,316,000 |
$146,000 | $404,000 |
$76,000 | $129,000 |
| Hispanic |
18 | $2,560,000 |
$142,000 | $265,000 |
$52,000 | $100,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $64,000 |
$64,000 | $64,000 |
$82,000 | $82,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
142 | $14,809,000 |
$104,000 | $400,000 |
$74,000 | $290,000 |
| White |
470 | $57,599,000 |
$122,000 | $562,000 |
$72,000 | $402,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
647 | $77,705,000 |
$120,000 | $562,000 |
$72,000 | $402,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
34 | $3,969,000 |
$116,000 | $319,000 |
$75,000 | $184,000 |
| Application Denied By Financial Institution |
88 | $13,287,000 |
$150,000 | $460,000 |
$55,000 | $129,000 |
| Application Withdrawn By Applicant |
71 | $12,474,000 |
$175,000 | $472,000 |
$77,000 | $265,000 |
| File Closed For Incompleteness |
22 | $2,786,000 |
$126,000 | $288,000 |
$58,000 | $114,000 |
| Loan Originated |
407 | $39,729,000 |
$97,000 | $562,000 |
$75,000 | $402,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
20 | $4,493,000 |
$224,000 | $400,000 |
$73,000 | $223,000 |
| Preapproval Denied by Financial Institution |
5 | $967,000 |
$193,000 | $210,000 |
$53,000 | $61,000 |
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| Collateral |
3 | $503,000 |
$167,000 | $250,000 |
$69,000 | $88,000 |
| Credit Application Incomplete |
14 | $1,716,000 |
$122,000 | $300,000 |
$60,000 | $115,000 |
| Credit History |
19 | $2,818,000 |
$148,000 | $404,000 |
$72,000 | $125,000 |
| Debt-To-Income Ratio |
34 | $6,191,000 |
$182,000 | $460,000 |
$45,000 | $90,000 |
| Employment History |
1 | $152,000 |
$152,000 | $152,000 |
$16,000 | $16,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $490,000 |
$163,000 | $204,000 |
$69,000 | $104,000 |
| Mortgage Insurance Denied |
1 | $208,000 |
$208,000 | $208,000 |
$58,000 | $58,000 |
| Other |
4 | $665,000 |
$166,000 | $250,000 |
$57,000 | $92,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for IC FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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