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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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MINNWEST MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MINNWEST MORTGAGE CORPORATION |
| Address | 5324 E. ARROWHEAD PARKWAY #102
SIOUX FALLS, SD 57110 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 286 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $37,996,000 |
| Average Mortgage Loan Amount Applied For | $198,095 |
| Highest Mortgage Loan Amount Applied For | $3,445,000 |
| Average Applicant Income | $100,261 |
| Highest Applicant Income | $1,200,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
270 | $30,189,000 |
$111,000 | $1,000,000 |
$53,000 | $507,000 |
| Refinancing |
83 | $15,710,000 |
$189,000 | $3,445,000 |
$79,000 | $1,200,000 |
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| American Indian or Alaskan Native |
7 | $902,000 |
$128,000 | $239,000 |
$84,000 | $204,000 |
| Asian |
7 | $577,000 |
$82,000 | $204,000 |
$39,000 | $61,000 |
| Black or African American |
3 | $373,000 |
$124,000 | $143,000 |
$88,000 | $145,000 |
| Hispanic |
3 | $230,000 |
$76,000 | $106,000 |
$32,000 | $49,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
14 | $5,352,000 |
$382,000 | $3,445,000 |
$139,000 | $1,200,000 |
| White |
319 | $38,465,000 |
$120,000 | $1,000,000 |
$56,000 | $507,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
313 | $41,113,000 |
$131,000 | $3,445,000 |
$61,000 | $1,200,000 |
| FHA-insured (Federal Housing Administration) |
30 | $3,194,000 |
$106,000 | $207,000 |
$44,000 | $100,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
10 | $1,592,000 |
$159,000 | $250,000 |
$52,000 | $95,000 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
52 | $5,583,000 |
$107,000 | $360,000 |
$40,000 | $219,000 |
| Application Withdrawn By Applicant |
88 | $11,648,000 |
$132,000 | $544,000 |
$57,000 | $507,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
11 | $4,291,000 |
$390,000 | $3,445,000 |
$150,000 | $1,200,000 |
| Loan Purchased By The Institution |
202 | $24,377,000 |
$120,000 | $1,000,000 |
$60,000 | $440,000 |
| 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 |
3 | $560,000 |
$186,000 | $280,000 |
$93,000 | $219,000 |
| Credit Application Incomplete |
3 | $494,000 |
$164,000 | $260,000 |
$52,000 | $84,000 |
| Credit History |
22 | $2,377,000 |
$108,000 | $360,000 |
$36,000 | $85,000 |
| Debt-To-Income Ratio |
11 | $1,018,000 |
$92,000 | $184,000 |
$35,000 | $49,000 |
| Employment History |
7 | $631,000 |
$90,000 | $170,000 |
$34,000 | $72,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
6 | $503,000 |
$83,000 | $142,000 |
$41,000 | $58,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MINNWEST MORTGAGE CORPORATION by:
Metropolitan Area And
County
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