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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 EAST MI
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENT MTG CO 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 | 686 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $95,121,000 |
| Average Mortgage Loan Amount Applied For | $154,047 |
| Highest Mortgage Loan Amount Applied For | $980,000 |
| Average Applicant Income | $87,880 |
| Highest Applicant Income | $753,000 |
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| Home Improvement |
26 | $2,931,000 |
$112,000 | $262,000 |
$60,000 | $142,000 |
| Home Purchase |
245 | $28,626,000 |
$116,000 | $450,000 |
$60,000 | $599,000 |
| Refinancing |
415 | $63,564,000 |
$153,000 | $980,000 |
$77,000 | $753,000 |
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| American Indian or Alaskan Native |
1 | $64,000 |
$64,000 | $64,000 |
$40,000 | $40,000 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
13 | $2,633,000 |
$202,000 | $373,000 |
$92,000 | $168,000 |
| Hispanic |
5 | $575,000 |
$115,000 | $157,000 |
$51,000 | $65,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $79,000 |
$79,000 | $79,000 |
$77,000 | $77,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
14 | $1,913,000 |
$136,000 | $280,000 |
$65,000 | $332,000 |
| White |
652 | $89,857,000 |
$137,000 | $980,000 |
$70,000 | $753,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
657 | $91,817,000 |
$139,000 | $980,000 |
$71,000 | $753,000 |
| FHA-insured (Federal Housing Administration) |
25 | $2,891,000 |
$115,000 | $189,000 |
$67,000 | $599,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
4 | $413,000 |
$103,000 | $163,000 |
$33,000 | $48,000 |
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| Application Approved But Not Accepted |
37 | $4,484,000 |
$121,000 | $360,000 |
$89,000 | $191,000 |
| Application Denied By Financial Institution |
82 | $9,618,000 |
$117,000 | $497,000 |
$58,000 | $270,000 |
| Application Withdrawn By Applicant |
89 | $11,370,000 |
$127,000 | $345,000 |
$58,000 | $188,000 |
| File Closed For Incompleteness |
31 | $5,464,000 |
$176,000 | $627,000 |
$60,000 | $174,000 |
| Loan Originated |
447 | $64,185,000 |
$143,000 | $980,000 |
$74,000 | $753,000 |
| 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 |
17 | $1,526,000 |
$89,000 | $158,000 |
$63,000 | $270,000 |
| Credit Application Incomplete |
41 | $4,944,000 |
$120,000 | $315,000 |
$58,000 | $233,000 |
| Credit History |
8 | $758,000 |
$94,000 | $150,000 |
$76,000 | $264,000 |
| Debt-To-Income Ratio |
12 | $1,457,000 |
$121,000 | $233,000 |
$36,000 | $70,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $160,000 |
$160,000 | $160,000 |
$82,000 | $82,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $103,000 |
$103,000 | $103,000 |
$20,000 | $20,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for INDEPENDENT MTG CO EAST MI by:
Metropolitan Area And
County
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