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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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LAKE AREA BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
LAKE AREA BANK |
| Address | 1400 E. HWY 96
WHITE BEAR LAKE, MN 55110 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 94 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $45,499,000 |
| Average Mortgage Loan Amount Applied For | $543,947 |
| Highest Mortgage Loan Amount Applied For | $4,000,000 |
| Average Applicant Income | $90,789 |
| Highest Applicant Income | $623,000 |
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| Home Improvement |
4 | $26,000 |
$6,000 | $12,000 |
$40,000 | $81,000 |
| Home Purchase |
50 | $36,398,000 |
$727,000 | $4,000,000 |
$72,000 | $412,000 |
| Refinancing |
40 | $9,075,000 |
$226,000 | $1,080,000 |
$100,000 | $623,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $185,000 |
$185,000 | $185,000 |
$0 | $0 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
14 | $28,767,000 |
$2,054,000 | $4,000,000 |
$0 | $0 |
| Not Provided |
11 | $2,752,000 |
$250,000 | $857,000 |
$101,000 | $280,000 |
| White |
68 | $13,795,000 |
$202,000 | $1,080,000 |
$98,000 | $623,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
94 | $45,499,000 |
$484,000 | $4,000,000 |
$82,000 | $623,000 |
| 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 |
13 | $1,927,000 |
$148,000 | $360,000 |
$44,000 | $156,000 |
| Application Withdrawn By Applicant |
12 | $3,263,000 |
$271,000 | $417,000 |
$104,000 | $280,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
69 | $40,309,000 |
$584,000 | $4,000,000 |
$86,000 | $623,000 |
| 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 |
1 | $187,000 |
$187,000 | $187,000 |
$60,000 | $60,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
7 | $786,000 |
$112,000 | $360,000 |
$53,000 | $156,000 |
| Debt-To-Income Ratio |
3 | $669,000 |
$223,000 | $295,000 |
$39,000 | $62,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $100,000 |
$100,000 | $100,000 |
$24,000 | $24,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $185,000 |
$185,000 | $185,000 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for LAKE AREA BANK by:
Metropolitan Area And
County
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