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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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MERIT FINANCIAL, INC
Mortgage Loans and Application Details
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| Mortgage Company Name |
MERIT FINANCIAL, INC |
| Address | 13905 NE 128TH ST
KIRKLAND, WA 98034 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 26,352 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $4,270,555,000 |
| Average Mortgage Loan Amount Applied For | $140,666 |
| Highest Mortgage Loan Amount Applied For | $5,966,000 |
| Average Applicant Income | $52,211 |
| Highest Applicant Income | $3,951,000 |
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| Home Improvement |
11 | $1,942,000 |
$180,500 | $250,000 |
$46,875 | $108,000 |
| Home Purchase |
6,474 | $1,089,801,000 |
$159,936 | $1,850,000 |
$43,872 | $1,800,000 |
| Refinancing |
24,812 | $4,022,486,000 |
$138,442 | $5,966,000 |
$51,942 | $3,951,000 |
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| American Indian or Alaskan Native |
87 | $12,386,000 |
$136,500 | $501,000 |
$65,454 | $900,000 |
| Asian |
356 | $73,641,000 |
$157,960 | $969,000 |
$70,720 | $2,400,000 |
| Black or African American |
1 | $141,000 |
$141,000 | $141,000 |
$0 | $0 |
| Hispanic |
1,088 | $179,030,000 |
$157,764 | $640,000 |
$53,382 | $772,000 |
| Native Hawaiin or Other Pacific Islander |
164 | $31,316,000 |
$172,047 | $510,000 |
$60,333 | $207,000 |
| Not applicable |
11 | $1,996,000 |
$168,857 | $460,000 |
$58,428 | $128,000 |
| Not Provided |
20,169 | $3,275,984,000 |
$145,882 | $5,966,000 |
$45,235 | $3,951,000 |
| White |
9,421 | $1,539,735,000 |
$141,914 | $2,000,000 |
$64,276 | $1,272,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
26,212 | $4,347,589,000 |
$144,923 | $5,966,000 |
$59,173 | $3,951,000 |
| FHA-insured (Federal Housing Administration) |
534 | $75,231,000 |
$132,233 | $475,000 |
$31,400 | $1,200,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
12 | $1,707,000 |
$151,200 | $270,000 |
$63,200 | $100,000 |
| VA-guaranteed (Veterans Administration) |
4,539 | $689,702,000 |
$142,923 | $450,000 |
$25,538 | $1,800,000 |
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| Application Approved But Not Accepted |
265 | $43,491,000 |
$153,600 | $572,000 |
$54,066 | $354,000 |
| Application Denied By Financial Institution |
10,827 | $1,881,698,000 |
$155,941 | $2,000,000 |
$53,078 | $2,400,000 |
| Application Withdrawn By Applicant |
11,307 | $1,741,082,000 |
$134,285 | $5,966,000 |
$52,306 | $3,060,000 |
| File Closed For Incompleteness |
3,019 | $467,358,000 |
$141,930 | $1,250,000 |
$23,767 | $1,000,000 |
| Loan Originated |
4,663 | $770,006,000 |
$143,636 | $1,850,000 |
$62,431 | $3,951,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
14 | $2,032,000 |
$145,000 | $327,000 |
$50,000 | $150,000 |
| Preapproval Denied by Financial Institution |
1,202 | $208,562,000 |
$173,000 | $1,136,000 |
$71,000 | $1,200,000 |
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| Collateral |
47 | $7,415,000 |
$152,947 | $589,000 |
$70,052 | $217,000 |
| Credit Application Incomplete |
38 | $5,550,000 |
$146,200 | $300,000 |
$54,133 | $250,000 |
| Credit History |
1,596 | $259,527,000 |
$144,200 | $1,350,000 |
$44,650 | $772,000 |
| Debt-To-Income Ratio |
1,024 | $189,416,000 |
$179,428 | $1,135,000 |
$34,228 | $1,200,000 |
| Employment History |
892 | $180,685,000 |
$169,023 | $1,000,000 |
$109,642 | $2,400,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
6,566 | $1,161,561,000 |
$161,311 | $1,136,000 |
$54,955 | $1,272,000 |
| Mortgage Insurance Denied |
3 | $456,000 |
$138,000 | $255,000 |
$54,500 | $96,000 |
| Other |
340 | $51,835,000 |
$136,000 | $580,000 |
$47,677 | $300,000 |
| Unverifiable Information |
46 | $7,115,000 |
$150,882 | $780,000 |
$56,235 | $198,000 |
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Mortgage Loan App Totals for MERIT FINANCIAL, INC by:
Metropolitan Area And
County
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