|
|
| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
|
|
|
|
|
|
MERCURY FINANCIAL INC.
Mortgage Loans and Application Details
|
|
|
|
| Mortgage Company Name |
MERCURY FINANCIAL INC. |
| Address | 24400 NORTHWESTERN HWY. SUITE 210
SOUTHFIELD, MI 48075 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2005 |
| All Data Years | 2003 2004 2005 |
| Total Number of Mortgage Loan Applications Processed | 618 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $58,353,000 |
| Average Mortgage Loan Amount Applied For | $117,000 |
| Highest Mortgage Loan Amount Applied For | $367,000 |
| Average Applicant Income | $47,875 |
| Highest Applicant Income | $345,000 |
|
|
|
| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
536 | $50,793,000 |
$94,000 | $367,000 |
$49,000 | $345,000 |
| Refinancing |
82 | $7,560,000 |
$92,000 | $286,000 |
$52,000 | $300,000 |
|
|
| American Indian or Alaskan Native |
2 | $78,000 |
$39,000 | $51,000 |
$27,000 | $37,000 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
533 | $50,194,000 |
$94,000 | $367,000 |
$51,000 | $345,000 |
| Hispanic |
38 | $3,326,000 |
$87,000 | $200,000 |
$39,000 | $108,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
10 | $913,000 |
$91,000 | $208,000 |
$49,000 | $78,000 |
| White |
35 | $3,842,000 |
$109,000 | $276,000 |
$56,000 | $324,000 |
|
|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
202 | $19,104,000 |
$94,000 | $367,000 |
$58,000 | $324,000 |
| FHA-insured (Federal Housing Administration) |
415 | $39,041,000 |
$94,000 | $226,000 |
$39,000 | $345,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
1 | $208,000 |
$208,000 | $208,000 |
$73,000 | $73,000 |
|
|
| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
40 | $4,022,000 |
$100,000 | $186,000 |
$43,000 | $112,000 |
| Application Withdrawn By Applicant |
176 | $16,580,000 |
$94,000 | $226,000 |
$52,000 | $324,000 |
| File Closed For Incompleteness |
1 | $84,000 |
$84,000 | $84,000 |
$38,000 | $38,000 |
| Loan Originated |
350 | $32,483,000 |
$92,000 | $248,000 |
$52,000 | $345,000 |
| Loan Purchased By The Institution |
51 | $5,184,000 |
$101,000 | $367,000 |
$51,000 | $300,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
|
|
| Collateral |
1 | $56,000 |
$56,000 | $56,000 |
$48,000 | $48,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
17 | $1,742,000 |
$102,000 | $186,000 |
$50,000 | $112,000 |
| Debt-To-Income Ratio |
13 | $1,368,000 |
$105,000 | $179,000 |
$36,000 | $70,000 |
| Employment History |
8 | $801,000 |
$100,000 | $128,000 |
$40,000 | $63,000 |
| 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 |
1 | $55,000 |
$55,000 | $55,000 |
$19,000 | $19,000 |
|
Mortgage Loan App Totals for MERCURY FINANCIAL INC. by:
Metropolitan Area And
County
|
|
|
|
|
Copyright ©2008 AllMortgageDetail.com All rights reserved.
|
|
