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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 SCHOOLS AND GOVERNMEN
Mortgage Loans and Application Details
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| Mortgage Company Name |
MICHIGAN SCHOOLS AND GOVERNMEN |
| Address | 40400 GARFIELD ROAD
CLINTON TOWNSHIP, MI 48038 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 557 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $84,802,000 |
| Average Mortgage Loan Amount Applied For | $133,606 |
| Highest Mortgage Loan Amount Applied For | $696,000 |
| Average Applicant Income | $92,333 |
| Highest Applicant Income | $948,000 |
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| Home Improvement |
4 | $752,000 |
$188,000 | $300,000 |
$98,000 | $171,000 |
| Home Purchase |
288 | $41,242,000 |
$143,000 | $799,000 |
$78,000 | $1,686,000 |
| Refinancing |
397 | $62,287,000 |
$156,000 | $696,000 |
$77,000 | $275,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
11 | $2,426,000 |
$220,000 | $519,000 |
$229,000 | $1,686,000 |
| Black or African American |
26 | $3,495,000 |
$134,000 | $254,000 |
$57,000 | $116,000 |
| Hispanic |
8 | $1,219,000 |
$152,000 | $250,000 |
$65,000 | $199,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
644 | $97,141,000 |
$150,000 | $799,000 |
$76,000 | $948,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
689 | $104,281,000 |
$151,000 | $799,000 |
$77,000 | $1,686,000 |
| 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 |
26 | $3,865,000 |
$148,000 | $276,000 |
$73,000 | $171,000 |
| Application Denied By Financial Institution |
75 | $10,425,000 |
$139,000 | $340,000 |
$55,000 | $346,000 |
| Application Withdrawn By Applicant |
64 | $10,464,000 |
$163,000 | $512,000 |
$82,000 | $518,000 |
| File Closed For Incompleteness |
37 | $5,289,000 |
$142,000 | $270,000 |
$129,000 | $1,686,000 |
| Loan Originated |
463 | $70,581,000 |
$152,000 | $696,000 |
$78,000 | $275,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
3 | $381,000 |
$127,000 | $189,000 |
$47,000 | $55,000 |
| Preapproval Denied by Financial Institution |
21 | $3,276,000 |
$156,000 | $799,000 |
$58,000 | $201,000 |
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| Collateral |
3 | $393,000 |
$131,000 | $150,000 |
$128,000 | $170,000 |
| Credit Application Incomplete |
1 | $85,000 |
$85,000 | $85,000 |
$35,000 | $35,000 |
| Credit History |
23 | $2,972,000 |
$129,000 | $340,000 |
$53,000 | $93,000 |
| Debt-To-Income Ratio |
60 | $8,794,000 |
$146,000 | $799,000 |
$47,000 | $201,000 |
| Employment History |
1 | $151,000 |
$151,000 | $151,000 |
$85,000 | $85,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $78,000 |
$78,000 | $78,000 |
$30,000 | $30,000 |
| Mortgage Insurance Denied |
2 | $275,000 |
$137,000 | $155,000 |
$43,000 | $50,000 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
4 | $733,000 |
$183,000 | $260,000 |
$165,000 | $346,000 |
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Mortgage Loan App Totals for MICHIGAN SCHOOLS AND GOVERNMEN by:
Metropolitan Area And
County
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