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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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MICHIGAN EDUCATIONAL C U
Mortgage Loans and Application Details
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| Mortgage Company Name |
MICHIGAN EDUCATIONAL C U |
| Address | 9200 HAGGERTY ROAD
PLYMOUTH, MI 48170 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 341 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $21,768,000 |
| Average Mortgage Loan Amount Applied For | $89,333 |
| Highest Mortgage Loan Amount Applied For | $578,000 |
| Average Applicant Income | $81,761 |
| Highest Applicant Income | $287,000 |
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| Home Improvement |
283 | $11,459,000 |
$40,000 | $166,000 |
$73,000 | $287,000 |
| Home Purchase |
18 | $3,287,000 |
$182,000 | $578,000 |
$82,000 | $195,000 |
| Refinancing |
40 | $7,022,000 |
$175,000 | $381,000 |
$77,000 | $195,000 |
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| American Indian or Alaskan Native |
1 | $38,000 |
$38,000 | $38,000 |
$61,000 | $61,000 |
| Asian |
1 | $50,000 |
$50,000 | $50,000 |
$49,000 | $49,000 |
| Black or African American |
5 | $295,000 |
$59,000 | $116,000 |
$92,000 | $160,000 |
| Hispanic |
1 | $67,000 |
$67,000 | $67,000 |
$86,000 | $86,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
139 | $5,512,000 |
$39,000 | $160,000 |
$73,000 | $194,000 |
| White |
194 | $15,806,000 |
$81,000 | $578,000 |
$75,000 | $287,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
341 | $21,768,000 |
$63,000 | $578,000 |
$74,000 | $287,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
11 | $524,000 |
$47,000 | $160,000 |
$63,000 | $111,000 |
| Application Withdrawn By Applicant |
11 | $456,000 |
$41,000 | $85,000 |
$71,000 | $160,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
319 | $20,788,000 |
$65,000 | $578,000 |
$75,000 | $287,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
4 | $360,000 |
$90,000 | $160,000 |
$74,000 | $111,000 |
| Debt-To-Income Ratio |
2 | $75,000 |
$37,000 | $65,000 |
$71,000 | $71,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
5 | $89,000 |
$17,000 | $49,000 |
$51,000 | $66,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MICHIGAN EDUCATIONAL C U by:
Metropolitan Area And
County
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