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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 SOUTH MI
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENT BANK SOUTH MI |
| Address | 230 W 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 | 372 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $23,227,000 |
| Average Mortgage Loan Amount Applied For | $89,760 |
| Highest Mortgage Loan Amount Applied For | $3,000,000 |
| Average Applicant Income | $52,840 |
| Highest Applicant Income | $480,000 |
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| Home Improvement |
134 | $3,702,000 |
$27,000 | $201,000 |
$66,000 | $480,000 |
| Home Purchase |
61 | $6,416,000 |
$105,000 | $649,000 |
$49,000 | $463,000 |
| Refinancing |
177 | $13,109,000 |
$74,000 | $3,000,000 |
$64,000 | $274,000 |
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| American Indian or Alaskan Native |
1 | $25,000 |
$25,000 | $25,000 |
$66,000 | $66,000 |
| Asian |
5 | $298,000 |
$59,000 | $158,000 |
$97,000 | $246,000 |
| Black or African American |
6 | $202,000 |
$33,000 | $75,000 |
$54,000 | $104,000 |
| Hispanic |
9 | $365,000 |
$40,000 | $100,000 |
$44,000 | $97,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $11,000 |
$11,000 | $11,000 |
$72,000 | $72,000 |
| Not applicable |
38 | $10,412,000 |
$274,000 | $3,000,000 |
$0 | $0 |
| Not Provided |
19 | $1,361,000 |
$71,000 | $250,000 |
$48,000 | $96,000 |
| White |
293 | $10,553,000 |
$36,000 | $338,000 |
$71,000 | $480,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
372 | $23,227,000 |
$62,000 | $3,000,000 |
$62,000 | $480,000 |
| 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 |
33 | $1,412,000 |
$42,000 | $440,000 |
$65,000 | $143,000 |
| Application Denied By Financial Institution |
54 | $1,480,000 |
$27,000 | $215,000 |
$40,000 | $95,000 |
| Application Withdrawn By Applicant |
10 | $5,564,000 |
$556,000 | $3,000,000 |
$12,000 | $60,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
275 | $14,771,000 |
$53,000 | $649,000 |
$68,000 | $480,000 |
| 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 |
6 | $72,000 |
$12,000 | $25,000 |
$47,000 | $77,000 |
| Credit Application Incomplete |
1 | $4,000 |
$4,000 | $4,000 |
$13,000 | $13,000 |
| Credit History |
16 | $432,000 |
$27,000 | $215,000 |
$39,000 | $80,000 |
| Debt-To-Income Ratio |
23 | $589,000 |
$25,000 | $57,000 |
$43,000 | $95,000 |
| Employment History |
4 | $158,000 |
$39,000 | $130,000 |
$47,000 | $91,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $184,000 |
$92,000 | $154,000 |
$6,000 | $12,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for INDEPENDENT BANK SOUTH MI by:
Metropolitan Area And
County
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