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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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METRO CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
METRO CREDIT UNION |
| Address | 200 REVERE BEACH PKWY
CHELSEA, MA 02150 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 884 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $123,734,000 |
| Average Mortgage Loan Amount Applied For | $115,421 |
| Highest Mortgage Loan Amount Applied For | $925,000 |
| Average Applicant Income | $80,368 |
| Highest Applicant Income | $942,000 |
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| Home Improvement |
294 | $19,053,000 |
$64,000 | $410,000 |
$86,000 | $639,000 |
| Home Purchase |
286 | $66,756,000 |
$233,000 | $925,000 |
$74,000 | $942,000 |
| Refinancing |
430 | $70,641,000 |
$164,000 | $625,000 |
$85,000 | $609,000 |
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| American Indian or Alaskan Native |
4 | $640,000 |
$160,000 | $340,000 |
$83,000 | $90,000 |
| Asian |
35 | $6,541,000 |
$186,000 | $662,000 |
$78,000 | $228,000 |
| Black or African American |
109 | $21,354,000 |
$195,000 | $774,000 |
$65,000 | $160,000 |
| Hispanic |
134 | $26,329,000 |
$196,000 | $665,000 |
$57,000 | $141,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
19 | $2,197,000 |
$115,000 | $535,000 |
$85,000 | $391,000 |
| White |
709 | $99,389,000 |
$140,000 | $925,000 |
$90,000 | $942,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,010 | $156,450,000 |
$154,000 | $925,000 |
$82,000 | $942,000 |
| 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 |
82 | $13,235,000 |
$161,000 | $625,000 |
$89,000 | $639,000 |
| Application Denied By Financial Institution |
231 | $36,912,000 |
$159,000 | $774,000 |
$67,000 | $391,000 |
| Application Withdrawn By Applicant |
39 | $7,200,000 |
$184,000 | $450,000 |
$83,000 | $266,000 |
| File Closed For Incompleteness |
12 | $2,603,000 |
$216,000 | $460,000 |
$79,000 | $200,000 |
| Loan Originated |
520 | $63,784,000 |
$122,000 | $925,000 |
$93,000 | $942,000 |
| 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 |
126 | $32,716,000 |
$259,000 | $665,000 |
$59,000 | $197,000 |
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| Collateral |
15 | $4,392,000 |
$292,000 | $421,000 |
$88,000 | $144,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
49 | $12,652,000 |
$258,000 | $596,000 |
$75,000 | $245,000 |
| Debt-To-Income Ratio |
109 | $29,576,000 |
$271,000 | $665,000 |
$48,000 | $102,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $700,000 |
$350,000 | $400,000 |
$93,000 | $103,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
9 | $2,193,000 |
$243,000 | $398,000 |
$69,000 | $93,000 |
| Unverifiable Information |
2 | $511,000 |
$255,000 | $268,000 |
$53,000 | $60,000 |
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Mortgage Loan App Totals for METRO CREDIT UNION by:
Metropolitan Area And
County
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