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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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MERCANTILE POTOMAC BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
MERCANTILE POTOMAC BANK |
| Address | 702 RUSSELL AVENUE
GAITHERSBURG, MD 20877 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 92 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $42,408,000 |
| Average Mortgage Loan Amount Applied For | $374,210 |
| Highest Mortgage Loan Amount Applied For | $4,000,000 |
| Average Applicant Income | $177,947 |
| Highest Applicant Income | $1,969,000 |
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| Home Improvement |
20 | $9,945,000 |
$414,000 | $4,000,000 |
$274,500 | $1,969,000 |
| Home Purchase |
32 | $14,171,000 |
$399,375 | $1,300,000 |
$109,500 | $797,000 |
| Refinancing |
40 | $18,292,000 |
$503,000 | $3,000,000 |
$241,500 | $738,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $1,069,000 |
$1,069,000 | $1,069,000 |
$202,000 | $202,000 |
| Black or African American |
1 | $175,000 |
$175,000 | $175,000 |
$102,000 | $102,000 |
| Hispanic |
2 | $219,000 |
$109,000 | $194,000 |
$9,000 | $19,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $15,000 |
$15,000 | $15,000 |
$0 | $0 |
| Not applicable |
28 | $15,318,000 |
$577,833 | $3,000,000 |
$0 | $0 |
| Not Provided |
4 | $569,000 |
$97,000 | $360,000 |
$121,500 | $262,000 |
| White |
55 | $25,043,000 |
$337,857 | $4,000,000 |
$270,571 | $1,969,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
92 | $42,408,000 |
$395,125 | $4,000,000 |
$159,875 | $1,969,000 |
| 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 |
9 | $2,142,000 |
$298,000 | $450,000 |
$109,666 | $262,000 |
| Application Denied By Financial Institution |
2 | $242,000 |
$121,000 | $192,000 |
$239,000 | $359,000 |
| Application Withdrawn By Applicant |
8 | $6,031,000 |
$636,000 | $2,250,000 |
$92,666 | $219,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
73 | $33,993,000 |
$434,000 | $4,000,000 |
$164,625 | $1,969,000 |
| 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 | $50,000 |
$50,000 | $50,000 |
$359,000 | $359,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
1 | $192,000 |
$192,000 | $192,000 |
$120,000 | $120,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MERCANTILE POTOMAC BANK by:
Metropolitan Area And
County
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