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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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INDEPENDENT BANK EAST MI
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENT BANK EAST MI |
| Address | 230 WEST MAIN STREET
IONIA, MI 48846 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 384 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $10,438,000 |
| Average Mortgage Loan Amount Applied For | $40,480 |
| Highest Mortgage Loan Amount Applied For | $604,000 |
| Average Applicant Income | $62,600 |
| Highest Applicant Income | $720,000 |
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| Home Improvement |
173 | $2,412,000 |
$13,000 | $140,000 |
$52,000 | $720,000 |
| Home Purchase |
61 | $2,586,000 |
$42,000 | $604,000 |
$68,000 | $581,000 |
| Refinancing |
150 | $5,440,000 |
$36,000 | $286,000 |
$64,000 | $312,000 |
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| American Indian or Alaskan Native |
1 | $12,000 |
$12,000 | $12,000 |
$40,000 | $40,000 |
| Asian |
1 | $68,000 |
$68,000 | $68,000 |
$46,000 | $46,000 |
| Black or African American |
2 | $52,000 |
$26,000 | $50,000 |
$55,000 | $92,000 |
| Hispanic |
7 | $186,000 |
$26,000 | $60,000 |
$68,000 | $126,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
10 | $1,206,000 |
$120,000 | $286,000 |
$116,000 | $581,000 |
| Not Provided |
12 | $334,000 |
$27,000 | $135,000 |
$76,000 | $335,000 |
| White |
351 | $8,580,000 |
$24,000 | $604,000 |
$57,000 | $720,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
384 | $10,438,000 |
$27,000 | $604,000 |
$59,000 | $720,000 |
| 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 |
25 | $593,000 |
$23,000 | $67,000 |
$49,000 | $129,000 |
| Application Denied By Financial Institution |
59 | $875,000 |
$14,000 | $52,000 |
$34,000 | $120,000 |
| Application Withdrawn By Applicant |
1 | $104,000 |
$104,000 | $104,000 |
$39,000 | $39,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
299 | $8,866,000 |
$29,000 | $604,000 |
$65,000 | $720,000 |
| 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 |
3 | $107,000 |
$35,000 | $52,000 |
$57,000 | $120,000 |
| Credit Application Incomplete |
1 | $36,000 |
$36,000 | $36,000 |
$33,000 | $33,000 |
| Credit History |
18 | $213,000 |
$11,000 | $25,000 |
$41,000 | $99,000 |
| Debt-To-Income Ratio |
27 | $321,000 |
$11,000 | $40,000 |
$26,000 | $78,000 |
| Employment History |
6 | $118,000 |
$19,000 | $40,000 |
$40,000 | $85,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $30,000 |
$30,000 | $30,000 |
$15,000 | $15,000 |
| Unverifiable Information |
1 | $5,000 |
$5,000 | $5,000 |
$68,000 | $68,000 |
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Mortgage Loan App Totals for INDEPENDENT BANK EAST MI by:
Metropolitan Area And
County
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