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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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MIDWEST FINANCIAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MIDWEST FINANCIAL CREDIT UNION |
| Address | 2400 GREEN ROAD
ANN ARBOR, MI 48105 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 170 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $13,329,000 |
| Average Mortgage Loan Amount Applied For | $96,210 |
| Highest Mortgage Loan Amount Applied For | $488,000 |
| Average Applicant Income | $90,421 |
| Highest Applicant Income | $315,000 |
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| Home Improvement |
106 | $4,183,000 |
$39,000 | $243,000 |
$98,000 | $288,000 |
| Home Purchase |
46 | $7,343,000 |
$159,000 | $488,000 |
$81,000 | $315,000 |
| Refinancing |
24 | $2,793,000 |
$116,000 | $204,000 |
$78,000 | $180,000 |
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| American Indian or Alaskan Native |
1 | $96,000 |
$96,000 | $96,000 |
$99,000 | $99,000 |
| Asian |
4 | $337,000 |
$84,000 | $199,000 |
$76,000 | $154,000 |
| Black or African American |
25 | $1,850,000 |
$74,000 | $352,000 |
$89,000 | $315,000 |
| Hispanic |
5 | $673,000 |
$134,000 | $171,000 |
$58,000 | $120,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $48,000 |
$48,000 | $48,000 |
$104,000 | $104,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
9 | $1,008,000 |
$112,000 | $488,000 |
$116,000 | $200,000 |
| White |
131 | $10,307,000 |
$78,000 | $274,000 |
$91,000 | $250,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
176 | $14,319,000 |
$81,000 | $488,000 |
$91,000 | $315,000 |
| 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 |
1 | $250,000 |
$250,000 | $250,000 |
$79,000 | $79,000 |
| Application Denied By Financial Institution |
16 | $1,404,000 |
$87,000 | $275,000 |
$61,000 | $128,000 |
| Application Withdrawn By Applicant |
0 | $0 |
$0 | $0 |
$0 | $0 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
159 | $12,665,000 |
$79,000 | $488,000 |
$94,000 | $315,000 |
| 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 |
5 | $151,000 |
$30,000 | $40,000 |
$80,000 | $128,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
5 | $386,000 |
$77,000 | $130,000 |
$45,000 | $75,000 |
| Debt-To-Income Ratio |
4 | $825,000 |
$206,000 | $275,000 |
$61,000 | $120,000 |
| 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 |
1 | $5,000 |
$5,000 | $5,000 |
$24,000 | $24,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MIDWEST FINANCIAL CREDIT UNION by:
Metropolitan Area And
County
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