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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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MGN FUNDING CORP
Mortgage Loans and Application Details
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| Mortgage Company Name |
MGN FUNDING CORP |
| Address | 525 NORTH BROADWAY STE 214
WHITE PLAINS, NY 10603 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2006 |
| Total Number of Mortgage Loan Applications Processed | 159 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $42,085,000 |
| Average Mortgage Loan Amount Applied For | $226,120 |
| Highest Mortgage Loan Amount Applied For | $591,000 |
| Average Applicant Income | $89,280 |
| Highest Applicant Income | $248,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
94 | $23,982,000 |
$255,000 | $591,000 |
$95,000 | $248,000 |
| Refinancing |
65 | $18,103,000 |
$278,000 | $526,000 |
$73,000 | $201,000 |
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| American Indian or Alaskan Native |
1 | $256,000 |
$256,000 | $256,000 |
$117,000 | $117,000 |
| Asian |
6 | $1,653,000 |
$275,000 | $428,000 |
$84,000 | $248,000 |
| Black or African American |
118 | $30,541,000 |
$258,000 | $515,000 |
$92,000 | $224,000 |
| Hispanic |
17 | $5,010,000 |
$294,000 | $585,000 |
$72,000 | $180,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
9 | $2,703,000 |
$300,000 | $591,000 |
$81,000 | $122,000 |
| White |
8 | $1,922,000 |
$240,000 | $352,000 |
$38,000 | $90,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
158 | $41,749,000 |
$264,000 | $591,000 |
$86,000 | $248,000 |
| FHA-insured (Federal Housing Administration) |
1 | $336,000 |
$336,000 | $336,000 |
$36,000 | $36,000 |
| 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 |
2 | $755,000 |
$377,000 | $455,000 |
$77,000 | $96,000 |
| Application Denied By Financial Institution |
39 | $10,002,000 |
$256,000 | $513,000 |
$94,000 | $224,000 |
| Application Withdrawn By Applicant |
40 | $10,042,000 |
$251,000 | $591,000 |
$93,000 | $180,000 |
| File Closed For Incompleteness |
4 | $1,218,000 |
$304,000 | $361,000 |
$71,000 | $90,000 |
| Loan Originated |
73 | $20,005,000 |
$274,000 | $585,000 |
$79,000 | $248,000 |
| 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 |
1 | $63,000 |
$63,000 | $63,000 |
$106,000 | $106,000 |
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| Collateral |
4 | $1,059,000 |
$264,000 | $432,000 |
$77,000 | $122,000 |
| Credit Application Incomplete |
1 | $330,000 |
$330,000 | $330,000 |
$0 | $0 |
| Credit History |
3 | $964,000 |
$321,000 | $400,000 |
$110,000 | $118,000 |
| Debt-To-Income Ratio |
1 | $302,000 |
$302,000 | $302,000 |
$224,000 | $224,000 |
| Employment History |
1 | $112,000 |
$112,000 | $112,000 |
$34,000 | $34,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $610,000 |
$305,000 | $488,000 |
$62,000 | $64,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
22 | $4,898,000 |
$222,000 | $424,000 |
$96,000 | $201,000 |
| Unverifiable Information |
4 | $1,216,000 |
$304,000 | $513,000 |
$120,000 | $151,000 |
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Mortgage Loan App Totals for MGN FUNDING CORP by:
Metropolitan Area And
County
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