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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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MECHANICS' CO-OPERATIVE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
MECHANICS' CO-OPERATIVE BANK |
| Address | 308 BAY STREET
TAUNTON, MA 02780 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 283 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $26,623,000 |
| Average Mortgage Loan Amount Applied For | $46,652 |
| Highest Mortgage Loan Amount Applied For | $938,000 |
| Average Applicant Income | $45,434 |
| Highest Applicant Income | $290,000 |
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| Home Improvement |
43 | $2,378,000 |
$55,000 | $238,000 |
$44,000 | $155,000 |
| Home Purchase |
136 | $11,134,000 |
$81,000 | $938,000 |
$49,000 | $209,000 |
| Refinancing |
104 | $13,111,000 |
$126,000 | $550,000 |
$48,000 | $290,000 |
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| American Indian or Alaskan Native |
2 | $51,000 |
$25,000 | $30,000 |
$63,000 | $67,000 |
| Asian |
1 | $34,000 |
$34,000 | $34,000 |
$28,000 | $28,000 |
| Black or African American |
2 | $141,000 |
$70,000 | $91,000 |
$30,000 | $31,000 |
| Hispanic |
2 | $77,000 |
$38,000 | $62,000 |
$44,000 | $59,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
1 | $420,000 |
$420,000 | $420,000 |
$0 | $0 |
| Not Provided |
2 | $44,000 |
$22,000 | $30,000 |
$43,000 | $48,000 |
| White |
273 | $25,856,000 |
$94,000 | $938,000 |
$48,000 | $290,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
283 | $26,623,000 |
$94,000 | $938,000 |
$48,000 | $290,000 |
| 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 |
49 | $4,059,000 |
$82,000 | $300,000 |
$48,000 | $134,000 |
| Application Denied By Financial Institution |
95 | $7,133,000 |
$75,000 | $360,000 |
$43,000 | $201,000 |
| Application Withdrawn By Applicant |
8 | $804,000 |
$100,000 | $330,000 |
$60,000 | $145,000 |
| File Closed For Incompleteness |
4 | $759,000 |
$189,000 | $420,000 |
$36,000 | $83,000 |
| Loan Originated |
127 | $13,868,000 |
$109,000 | $938,000 |
$51,000 | $290,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
46 | $2,536,000 |
$55,000 | $260,000 |
$44,000 | $201,000 |
| Debt-To-Income Ratio |
19 | $2,703,000 |
$142,000 | $360,000 |
$45,000 | $100,000 |
| Employment History |
20 | $1,079,000 |
$53,000 | $266,000 |
$37,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $50,000 |
$50,000 | $50,000 |
$29,000 | $29,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
7 | $502,000 |
$71,000 | $160,000 |
$65,000 | $130,000 |
| Unverifiable Information |
1 | $25,000 |
$25,000 | $25,000 |
$0 | $0 |
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Mortgage Loan App Totals for MECHANICS' CO-OPERATIVE BANK by:
Metropolitan Area And
County
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