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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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MERRILL MERCHANTS BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
MERRILL MERCHANTS BANK |
| Address | 201 MAIN STREET
BANGOR, ME 04401 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 722 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $70,005,000 |
| Average Mortgage Loan Amount Applied For | $156,117 |
| Highest Mortgage Loan Amount Applied For | $1,440,000 |
| Average Applicant Income | $111,294 |
| Highest Applicant Income | $758,000 |
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| Home Improvement |
196 | $6,217,000 |
$31,000 | $315,000 |
$60,000 | $513,000 |
| Home Purchase |
306 | $44,901,000 |
$146,000 | $1,000,000 |
$82,000 | $522,000 |
| Refinancing |
223 | $19,175,000 |
$85,000 | $1,440,000 |
$74,000 | $758,000 |
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| American Indian or Alaskan Native |
1 | $80,000 |
$80,000 | $80,000 |
$40,000 | $40,000 |
| Asian |
4 | $573,000 |
$143,000 | $320,000 |
$150,000 | $187,000 |
| Black or African American |
3 | $89,000 |
$29,000 | $38,000 |
$54,000 | $76,000 |
| Hispanic |
1 | $127,000 |
$127,000 | $127,000 |
$74,000 | $74,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
13 | $2,987,000 |
$229,000 | $1,000,000 |
$1,000 | $15,000 |
| Not Provided |
20 | $2,100,000 |
$105,000 | $256,000 |
$112,000 | $513,000 |
| White |
683 | $64,337,000 |
$94,000 | $1,440,000 |
$74,000 | $758,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
723 | $70,184,000 |
$97,000 | $1,440,000 |
$74,000 | $758,000 |
| FHA-insured (Federal Housing Administration) |
2 | $109,000 |
$54,000 | $93,000 |
$47,000 | $65,000 |
| 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 |
15 | $1,926,000 |
$128,000 | $355,000 |
$65,000 | $160,000 |
| Application Denied By Financial Institution |
55 | $3,145,000 |
$57,000 | $241,000 |
$34,000 | $94,000 |
| Application Withdrawn By Applicant |
17 | $1,664,000 |
$97,000 | $227,000 |
$64,000 | $305,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
638 | $63,558,000 |
$99,000 | $1,440,000 |
$78,000 | $758,000 |
| 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 | $111,000 |
$111,000 | $111,000 |
$33,000 | $33,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
30 | $1,492,000 |
$49,000 | $193,000 |
$34,000 | $94,000 |
| Debt-To-Income Ratio |
21 | $1,220,000 |
$58,000 | $241,000 |
$31,000 | $67,000 |
| 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 |
2 | $152,000 |
$76,000 | $90,000 |
$41,000 | $52,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MERRILL MERCHANTS BANK by:
Metropolitan Area And
County
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