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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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JERSEY MORTGAGE COMPANY
Mortgage Loans and Application Details
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| Mortgage Company Name |
JERSEY MORTGAGE COMPANY |
| Address | 20 COMMERCE DRIVE, SUITE 340
CRANFORD, NJ 07016 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 394 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $103,433,000 |
| Average Mortgage Loan Amount Applied For | $228,631 |
| Highest Mortgage Loan Amount Applied For | $516,000 |
| Average Applicant Income | $70,052 |
| Highest Applicant Income | $236,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
262 | $69,047,000 |
$263,000 | $516,000 |
$74,000 | $236,000 |
| Refinancing |
137 | $35,573,000 |
$259,000 | $424,000 |
$75,000 | $141,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
6 | $1,792,000 |
$298,000 | $380,000 |
$60,000 | $104,000 |
| Black or African American |
138 | $34,115,000 |
$247,000 | $441,000 |
$74,000 | $236,000 |
| Hispanic |
110 | $32,199,000 |
$292,000 | $516,000 |
$80,000 | $177,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
22 | $5,747,000 |
$261,000 | $392,000 |
$55,000 | $120,000 |
| White |
123 | $30,767,000 |
$250,000 | $463,000 |
$74,000 | $141,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2 | $806,000 |
$403,000 | $440,000 |
$108,000 | $113,000 |
| FHA-insured (Federal Housing Administration) |
397 | $103,814,000 |
$261,000 | $516,000 |
$74,000 | $236,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
35 | $8,836,000 |
$252,000 | $471,000 |
$60,000 | $122,000 |
| Application Withdrawn By Applicant |
54 | $13,564,000 |
$251,000 | $453,000 |
$71,000 | $132,000 |
| File Closed For Incompleteness |
26 | $7,758,000 |
$298,000 | $463,000 |
$73,000 | $125,000 |
| Loan Originated |
283 | $74,022,000 |
$261,000 | $516,000 |
$77,000 | $236,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
1 | $440,000 |
$440,000 | $440,000 |
$103,000 | $103,000 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
7 | $1,720,000 |
$245,000 | $345,000 |
$68,000 | $96,000 |
| Credit Application Incomplete |
4 | $791,000 |
$197,000 | $305,000 |
$12,000 | $48,000 |
| Credit History |
5 | $1,288,000 |
$257,000 | $355,000 |
$80,000 | $122,000 |
| Debt-To-Income Ratio |
4 | $1,407,000 |
$351,000 | $395,000 |
$66,000 | $74,000 |
| Employment History |
5 | $1,420,000 |
$284,000 | $471,000 |
$75,000 | $119,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $266,000 |
$133,000 | $163,000 |
$47,000 | $47,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
8 | $1,944,000 |
$243,000 | $392,000 |
$54,000 | $106,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for JERSEY MORTGAGE COMPANY by:
Metropolitan Area And
County
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