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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 MTG CO CENTRAL MI
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENT MTG CO CENTRAL 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 | 1,505 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $167,163,000 |
| Average Mortgage Loan Amount Applied For | $171,500 |
| Highest Mortgage Loan Amount Applied For | $1,499,000 |
| Average Applicant Income | $125,470 |
| Highest Applicant Income | $1,470,000 |
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| Home Improvement |
63 | $7,165,000 |
$113,000 | $1,100,000 |
$62,000 | $347,000 |
| Home Purchase |
637 | $72,505,000 |
$113,000 | $1,499,000 |
$81,000 | $1,470,000 |
| Refinancing |
805 | $87,493,000 |
$108,000 | $384,000 |
$56,000 | $350,000 |
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| American Indian or Alaskan Native |
7 | $747,000 |
$106,000 | $175,000 |
$56,000 | $105,000 |
| Asian |
7 | $813,000 |
$116,000 | $188,000 |
$99,000 | $223,000 |
| Black or African American |
13 | $1,025,000 |
$78,000 | $190,000 |
$45,000 | $99,000 |
| Hispanic |
24 | $2,196,000 |
$91,000 | $246,000 |
$49,000 | $125,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
44 | $4,972,000 |
$113,000 | $302,000 |
$115,000 | $729,000 |
| White |
1,410 | $157,410,000 |
$111,000 | $1,499,000 |
$66,000 | $1,470,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,280 | $146,753,000 |
$114,000 | $1,499,000 |
$72,000 | $1,470,000 |
| FHA-insured (Federal Housing Administration) |
204 | $18,643,000 |
$91,000 | $203,000 |
$39,000 | $156,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
13 | $952,000 |
$73,000 | $120,000 |
$27,000 | $37,000 |
| VA-guaranteed (Veterans Administration) |
8 | $815,000 |
$101,000 | $193,000 |
$33,000 | $56,000 |
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| Application Approved But Not Accepted |
26 | $3,816,000 |
$146,000 | $1,388,000 |
$77,000 | $827,000 |
| Application Denied By Financial Institution |
175 | $20,855,000 |
$119,000 | $1,499,000 |
$66,000 | $1,470,000 |
| Application Withdrawn By Applicant |
227 | $28,039,000 |
$123,000 | $328,000 |
$93,000 | $729,000 |
| File Closed For Incompleteness |
35 | $3,510,000 |
$100,000 | $292,000 |
$47,000 | $213,000 |
| Loan Originated |
1,042 | $110,943,000 |
$106,000 | $1,100,000 |
$62,000 | $660,000 |
| 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 |
27 | $2,476,000 |
$91,000 | $213,000 |
$44,000 | $95,000 |
| Credit Application Incomplete |
90 | $11,744,000 |
$130,000 | $1,499,000 |
$81,000 | $1,470,000 |
| Credit History |
19 | $2,133,000 |
$112,000 | $253,000 |
$68,000 | $300,000 |
| Debt-To-Income Ratio |
31 | $3,641,000 |
$117,000 | $464,000 |
$32,000 | $78,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
5 | $406,000 |
$81,000 | $116,000 |
$44,000 | $68,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
1 | $79,000 |
$79,000 | $79,000 |
$31,000 | $31,000 |
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Mortgage Loan App Totals for INDEPENDENT MTG CO CENTRAL MI by:
Metropolitan Area And
County
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