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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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MERCHANTS BANK NA
Mortgage Loans and Application Details
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| Mortgage Company Name |
MERCHANTS BANK NA |
| Address | 1 SPRAGUE ST
CALEDONIA, MN 55921 |
| Agency | Office of the Comptroller of the Currency (OCC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 70 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $4,447,000 |
| Average Mortgage Loan Amount Applied For | $63,000 |
| Highest Mortgage Loan Amount Applied For | $240,000 |
| Average Applicant Income | $56,500 |
| Highest Applicant Income | $131,000 |
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| Home Improvement |
17 | $263,000 |
$15,000 | $45,000 |
$43,000 | $78,000 |
| Home Purchase |
10 | $901,000 |
$90,000 | $240,000 |
$63,000 | $131,000 |
| Refinancing |
45 | $3,473,000 |
$77,000 | $201,000 |
$46,000 | $122,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$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 |
1 | $100,000 |
$100,000 | $100,000 |
$36,000 | $36,000 |
| Not applicable |
4 | $639,000 |
$159,000 | $200,000 |
$10,000 | $41,000 |
| Not Provided |
2 | $15,000 |
$7,000 | $10,000 |
$58,000 | $78,000 |
| White |
65 | $3,883,000 |
$59,000 | $240,000 |
$50,000 | $131,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
72 | $4,637,000 |
$64,000 | $240,000 |
$48,000 | $131,000 |
| 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 |
1 | $17,000 |
$17,000 | $17,000 |
$41,000 | $41,000 |
| Application Denied By Financial Institution |
6 | $550,000 |
$91,000 | $165,000 |
$36,000 | $43,000 |
| Application Withdrawn By Applicant |
8 | $906,000 |
$113,000 | $240,000 |
$60,000 | $131,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
57 | $3,164,000 |
$55,000 | $201,000 |
$47,000 | $122,000 |
| 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 | $165,000 |
$165,000 | $165,000 |
$43,000 | $43,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
4 | $360,000 |
$90,000 | $128,000 |
$37,000 | $39,000 |
| Debt-To-Income Ratio |
1 | $25,000 |
$25,000 | $25,000 |
$29,000 | $29,000 |
| 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 MERCHANTS BANK NA by:
Metropolitan Area And
County
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