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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 WEST MI
Mortgage Loans and Application Details
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| Mortgage Company Name |
INDEPENDENT MTG CO WEST 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 | 1,901 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $246,245,000 |
| Average Mortgage Loan Amount Applied For | $119,303 |
| Highest Mortgage Loan Amount Applied For | $1,199,000 |
| Average Applicant Income | $77,321 |
| Highest Applicant Income | $840,000 |
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| Home Improvement |
68 | $6,844,000 |
$100,000 | $331,000 |
$55,000 | $171,000 |
| Home Purchase |
842 | $103,489,000 |
$122,000 | $1,105,000 |
$64,000 | $840,000 |
| Refinancing |
991 | $135,912,000 |
$137,000 | $1,199,000 |
$62,000 | $528,000 |
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| American Indian or Alaskan Native |
4 | $552,000 |
$138,000 | $236,000 |
$59,000 | $114,000 |
| Asian |
12 | $1,596,000 |
$133,000 | $331,000 |
$77,000 | $132,000 |
| Black or African American |
11 | $966,000 |
$87,000 | $185,000 |
$41,000 | $75,000 |
| Hispanic |
81 | $8,390,000 |
$103,000 | $665,000 |
$44,000 | $184,000 |
| Native Hawaiin or Other Pacific Islander |
2 | $349,000 |
$174,000 | $261,000 |
$71,000 | $100,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
36 | $5,119,000 |
$142,000 | $365,000 |
$89,000 | $528,000 |
| White |
1,755 | $229,273,000 |
$130,000 | $1,199,000 |
$63,000 | $840,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,713 | $226,727,000 |
$132,000 | $1,199,000 |
$65,000 | $840,000 |
| FHA-insured (Federal Housing Administration) |
146 | $14,758,000 |
$101,000 | $203,000 |
$41,000 | $93,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
26 | $2,806,000 |
$107,000 | $209,000 |
$38,000 | $75,000 |
| VA-guaranteed (Veterans Administration) |
16 | $1,954,000 |
$122,000 | $194,000 |
$54,000 | $171,000 |
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| Application Approved But Not Accepted |
21 | $3,115,000 |
$148,000 | $388,000 |
$73,000 | $233,000 |
| Application Denied By Financial Institution |
296 | $35,334,000 |
$119,000 | $622,000 |
$60,000 | $840,000 |
| Application Withdrawn By Applicant |
343 | $45,294,000 |
$132,000 | $1,105,000 |
$63,000 | $739,000 |
| File Closed For Incompleteness |
27 | $3,228,000 |
$119,000 | $223,000 |
$40,000 | $80,000 |
| Loan Originated |
1,214 | $159,274,000 |
$131,000 | $1,199,000 |
$64,000 | $804,000 |
| 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 |
29 | $3,181,000 |
$109,000 | $334,000 |
$64,000 | $360,000 |
| Credit Application Incomplete |
193 | $23,583,000 |
$122,000 | $622,000 |
$63,000 | $840,000 |
| Credit History |
37 | $3,927,000 |
$106,000 | $325,000 |
$48,000 | $126,000 |
| Debt-To-Income Ratio |
24 | $2,906,000 |
$121,000 | $313,000 |
$41,000 | $90,000 |
| Employment History |
7 | $1,047,000 |
$149,000 | $362,000 |
$95,000 | $300,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
1 | $102,000 |
$102,000 | $102,000 |
$48,000 | $48,000 |
| Other |
1 | $210,000 |
$210,000 | $210,000 |
$51,000 | $51,000 |
| Unverifiable Information |
1 | $119,000 |
$119,000 | $119,000 |
$33,000 | $33,000 |
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Mortgage Loan App Totals for INDEPENDENT MTG CO WEST MI by:
Metropolitan Area And
County
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