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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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MAX FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MAX FEDERAL CREDIT UNION |
| Address | P.O. BOX 244040
MONTGOMERY, AL 36124 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 518 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $35,203,000 |
| Average Mortgage Loan Amount Applied For | $67,125 |
| Highest Mortgage Loan Amount Applied For | $725,000 |
| Average Applicant Income | $67,833 |
| Highest Applicant Income | $1,012,000 |
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| Home Improvement |
8 | $457,000 |
$57,000 | $128,000 |
$78,000 | $162,000 |
| Home Purchase |
224 | $25,202,000 |
$112,000 | $725,000 |
$71,000 | $1,012,000 |
| Refinancing |
462 | $25,564,000 |
$55,000 | $400,000 |
$64,000 | $567,000 |
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| American Indian or Alaskan Native |
1 | $85,000 |
$85,000 | $85,000 |
$19,000 | $19,000 |
| Asian |
14 | $1,498,000 |
$107,000 | $320,000 |
$98,000 | $394,000 |
| Black or African American |
170 | $12,537,000 |
$73,000 | $328,000 |
$57,000 | $967,000 |
| Hispanic |
9 | $851,000 |
$94,000 | $281,000 |
$44,000 | $75,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
71 | $5,187,000 |
$73,000 | $240,000 |
$74,000 | $658,000 |
| White |
429 | $31,065,000 |
$72,000 | $725,000 |
$69,000 | $1,012,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
689 | $50,640,000 |
$73,000 | $725,000 |
$67,000 | $1,012,000 |
| FHA-insured (Federal Housing Administration) |
1 | $38,000 |
$38,000 | $38,000 |
$53,000 | $53,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
4 | $545,000 |
$136,000 | $238,000 |
$63,000 | $75,000 |
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| Application Approved But Not Accepted |
1 | $50,000 |
$50,000 | $50,000 |
$41,000 | $41,000 |
| Application Denied By Financial Institution |
113 | $9,130,000 |
$80,000 | $328,000 |
$48,000 | $220,000 |
| Application Withdrawn By Applicant |
130 | $13,513,000 |
$103,000 | $725,000 |
$95,000 | $1,012,000 |
| File Closed For Incompleteness |
7 | $549,000 |
$78,000 | $120,000 |
$55,000 | $95,000 |
| Loan Originated |
443 | $27,981,000 |
$63,000 | $400,000 |
$63,000 | $240,000 |
| 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 |
8 | $320,000 |
$40,000 | $69,000 |
$48,000 | $69,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
30 | $2,020,000 |
$67,000 | $180,000 |
$54,000 | $145,000 |
| Debt-To-Income Ratio |
37 | $3,444,000 |
$93,000 | $328,000 |
$41,000 | $220,000 |
| Employment History |
1 | $103,000 |
$103,000 | $103,000 |
$18,000 | $18,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
6 | $406,000 |
$67,000 | $204,000 |
$60,000 | $125,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $10,000 |
$10,000 | $10,000 |
$7,000 | $7,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MAX FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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