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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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MONARCH COMMUNITY BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
MONARCH COMMUNITY BANK |
| Address | 375 NORTH WILLOWBROOK ROAD
COLDWATER, MI 49036 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2005 |
| All Data Years | 2004 2005 |
| Total Number of Mortgage Loan Applications Processed | 710 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $72,107,000 |
| Average Mortgage Loan Amount Applied For | $164,884 |
| Highest Mortgage Loan Amount Applied For | $932,000 |
| Average Applicant Income | $97,500 |
| Highest Applicant Income | $360,000 |
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| Home Improvement |
104 | $3,858,000 |
$66,333 | $160,000 |
$60,666 | $325,000 |
| Home Purchase |
252 | $30,390,000 |
$153,800 | $932,000 |
$130,200 | $360,000 |
| Refinancing |
382 | $40,506,000 |
$203,400 | $550,000 |
$67,000 | $283,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $34,000 |
$34,000 | $34,000 |
$19,000 | $19,000 |
| Black or African American |
4 | $1,738,000 |
$434,000 | $932,000 |
$203,000 | $360,000 |
| Hispanic |
9 | $757,000 |
$84,000 | $154,000 |
$59,000 | $101,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
14 | $1,996,000 |
$388,000 | $675,000 |
$15,500 | $203,000 |
| Not Provided |
18 | $1,717,000 |
$106,000 | $224,000 |
$17,000 | $62,000 |
| White |
692 | $68,512,000 |
$175,428 | $740,000 |
$105,428 | $334,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
735 | $74,505,000 |
$180,857 | $932,000 |
$102,428 | $360,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
3 | $249,000 |
$83,000 | $118,000 |
$31,000 | $43,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
10 | $866,000 |
$86,000 | $228,000 |
$114,500 | $325,000 |
| Application Denied By Financial Institution |
49 | $5,357,000 |
$106,666 | $932,000 |
$45,333 | $360,000 |
| Application Withdrawn By Applicant |
3 | $800,000 |
$368,500 | $675,000 |
$3,500 | $15,000 |
| File Closed For Incompleteness |
13 | $1,661,000 |
$127,500 | $246,000 |
$47,500 | $126,000 |
| Loan Originated |
660 | $65,870,000 |
$191,714 | $595,000 |
$105,857 | $360,000 |
| 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 |
3 | $200,000 |
$66,000 | $75,000 |
$20,000 | $60,000 |
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| Collateral |
2 | $272,000 |
$136,000 | $157,000 |
$52,000 | $75,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
34 | $2,132,000 |
$86,333 | $159,000 |
$40,666 | $81,000 |
| Debt-To-Income Ratio |
6 | $1,144,000 |
$132,000 | $740,000 |
$32,500 | $74,000 |
| Employment History |
2 | $109,000 |
$54,000 | $80,000 |
$32,000 | $43,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $558,000 |
$139,000 | $269,000 |
$30,000 | $60,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
4 | $1,342,000 |
$335,000 | $932,000 |
$139,000 | $360,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MONARCH COMMUNITY BANK by:
Metropolitan Area And
County
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