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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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INDEPENDENCE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENCE BANK |
| Address | 1370 SOUTH COUNTY TRAIL
EAST GREENWICH, RI 02818 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 60 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $9,620,000 |
| Average Mortgage Loan Amount Applied For | $278,000 |
| Highest Mortgage Loan Amount Applied For | $975,000 |
| Average Applicant Income | $162,333 |
| Highest Applicant Income | $1,871,000 |
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| Home Improvement |
11 | $974,000 |
$88,000 | $136,000 |
$112,000 | $175,000 |
| Home Purchase |
8 | $2,245,000 |
$280,000 | $415,000 |
$322,000 | $1,871,000 |
| Refinancing |
41 | $6,401,000 |
$156,000 | $975,000 |
$93,000 | $600,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
1 | $183,000 |
$183,000 | $183,000 |
$40,000 | $40,000 |
| Hispanic |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
2 | $463,000 |
$231,000 | $415,000 |
$978,000 | $1,871,000 |
| Not Provided |
2 | $200,000 |
$100,000 | $140,000 |
$37,000 | $65,000 |
| White |
55 | $8,774,000 |
$159,000 | $975,000 |
$101,000 | $600,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
60 | $9,620,000 |
$160,000 | $975,000 |
$127,000 | $1,871,000 |
| 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 |
1 | $320,000 |
$320,000 | $320,000 |
$68,000 | $68,000 |
| Application Denied By Financial Institution |
16 | $1,861,000 |
$116,000 | $218,000 |
$62,000 | $171,000 |
| Application Withdrawn By Applicant |
12 | $3,629,000 |
$302,000 | $975,000 |
$155,000 | $600,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
31 | $3,810,000 |
$122,000 | $415,000 |
$151,000 | $1,871,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
2 | $225,000 |
$112,000 | $155,000 |
$58,000 | $103,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
4 | $423,000 |
$105,000 | $200,000 |
$45,000 | $60,000 |
| Debt-To-Income Ratio |
6 | $901,000 |
$150,000 | $218,000 |
$64,000 | $91,000 |
| 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 |
2 | $73,000 |
$36,000 | $48,000 |
$64,000 | $99,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for INDEPENDENCE BANK by:
Metropolitan Area And
County
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