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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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LAFCU
Mortgage Loans and Application Details
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| Mortgage Company Name |
LAFCU |
| Address | 106 N. MARKETPLACE BLVD.
LANSING, MI 48917 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 418 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $15,731,000 |
| Average Mortgage Loan Amount Applied For | $41,409 |
| Highest Mortgage Loan Amount Applied For | $268,000 |
| Average Applicant Income | $65,636 |
| Highest Applicant Income | $200,000 |
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| Home Improvement |
242 | $4,807,000 |
$19,000 | $104,000 |
$54,000 | $200,000 |
| Home Purchase |
11 | $778,000 |
$70,000 | $136,000 |
$61,000 | $133,000 |
| Refinancing |
167 | $10,162,000 |
$60,000 | $268,000 |
$60,000 | $199,000 |
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| American Indian or Alaskan Native |
7 | $191,000 |
$27,000 | $87,000 |
$59,000 | $118,000 |
| Asian |
3 | $103,000 |
$34,000 | $70,000 |
$44,000 | $68,000 |
| Black or African American |
31 | $1,162,000 |
$37,000 | $116,000 |
$58,000 | $124,000 |
| Hispanic |
25 | $961,000 |
$38,000 | $201,000 |
$50,000 | $106,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
44 | $403,000 |
$9,000 | $48,000 |
$37,000 | $98,000 |
| White |
310 | $12,927,000 |
$41,000 | $268,000 |
$59,000 | $200,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
420 | $15,747,000 |
$37,000 | $268,000 |
$56,000 | $200,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
56 | $1,131,000 |
$20,000 | $79,000 |
$46,000 | $200,000 |
| Application Withdrawn By Applicant |
40 | $2,226,000 |
$55,000 | $201,000 |
$52,000 | $161,000 |
| File Closed For Incompleteness |
15 | $197,000 |
$13,000 | $36,000 |
$49,000 | $147,000 |
| Loan Originated |
308 | $12,057,000 |
$39,000 | $268,000 |
$59,000 | $199,000 |
| Loan Purchased By The Institution |
1 | $136,000 |
$136,000 | $136,000 |
$74,000 | $74,000 |
| 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 |
5 | $82,000 |
$16,000 | $40,000 |
$38,000 | $50,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
26 | $361,000 |
$13,000 | $55,000 |
$44,000 | $98,000 |
| Debt-To-Income Ratio |
19 | $545,000 |
$28,000 | $79,000 |
$49,000 | $200,000 |
| Employment History |
1 | $46,000 |
$46,000 | $46,000 |
$75,000 | $75,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
3 | $22,000 |
$7,000 | $15,000 |
$55,000 | $94,000 |
| Unverifiable Information |
2 | $75,000 |
$37,000 | $50,000 |
$43,000 | $49,000 |
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Mortgage Loan App Totals for LAFCU by:
Metropolitan Area And
County
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