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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 | 102 E 3RD ST
WINONA, MN 55987 |
| 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 | 361 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $51,698,000 |
| Average Mortgage Loan Amount Applied For | $155,105 |
| Highest Mortgage Loan Amount Applied For | $977,000 |
| Average Applicant Income | $84,368 |
| Highest Applicant Income | $957,000 |
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| Home Improvement |
135 | $7,779,000 |
$57,000 | $280,000 |
$60,000 | $504,000 |
| Home Purchase |
1,927 | $253,082,000 |
$131,000 | $800,000 |
$66,000 | $1,024,000 |
| Refinancing |
1,307 | $155,099,000 |
$118,000 | $1,000,000 |
$66,000 | $957,000 |
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| American Indian or Alaskan Native |
3 | $265,000 |
$88,000 | $142,000 |
$48,000 | $51,000 |
| Asian |
19 | $1,744,000 |
$91,000 | $180,000 |
$53,000 | $138,000 |
| Black or African American |
5 | $631,000 |
$126,000 | $251,000 |
$54,000 | $126,000 |
| Hispanic |
31 | $3,503,000 |
$113,000 | $417,000 |
$47,000 | $115,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
291 | $34,970,000 |
$120,000 | $529,000 |
$64,000 | $504,000 |
| Not Provided |
176 | $21,248,000 |
$120,000 | $420,000 |
$71,000 | $350,000 |
| White |
2,844 | $353,599,000 |
$124,000 | $1,000,000 |
$66,000 | $1,024,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
3,353 | $413,887,000 |
$123,000 | $1,000,000 |
$65,000 | $1,024,000 |
| FHA-insured (Federal Housing Administration) |
2 | $258,000 |
$129,000 | $169,000 |
$48,000 | $74,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
5 | $430,000 |
$86,000 | $123,000 |
$46,000 | $61,000 |
| VA-guaranteed (Veterans Administration) |
9 | $1,385,000 |
$153,000 | $355,000 |
$67,000 | $196,000 |
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| Application Approved But Not Accepted |
44 | $6,032,000 |
$137,000 | $400,000 |
$60,000 | $185,000 |
| Application Denied By Financial Institution |
50 | $7,627,000 |
$152,000 | $800,000 |
$76,000 | $378,000 |
| Application Withdrawn By Applicant |
133 | $18,114,000 |
$136,000 | $417,000 |
$62,000 | $339,000 |
| File Closed For Incompleteness |
8 | $976,000 |
$122,000 | $210,000 |
$45,000 | $81,000 |
| Loan Originated |
2,848 | $349,152,000 |
$122,000 | $1,000,000 |
$66,000 | $1,024,000 |
| Loan Purchased By The Institution |
286 | $34,059,000 |
$119,000 | $529,000 |
$63,000 | $504,000 |
| 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 |
7 | $1,948,000 |
$278,000 | $800,000 |
$215,000 | $378,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
30 | $4,013,000 |
$133,000 | $500,000 |
$54,000 | $268,000 |
| Debt-To-Income Ratio |
10 | $1,326,000 |
$132,000 | $210,000 |
$57,000 | $96,000 |
| Employment History |
1 | $145,000 |
$145,000 | $145,000 |
$32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
2 | $195,000 |
$97,000 | $115,000 |
$41,000 | $43,000 |
| 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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