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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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MORTGAGE CENTER LC
Mortgage Loans and Application Details
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| Mortgage Company Name |
MORTGAGE CENTER LC |
| Address | 20300 CIVIC CENTER DR. SUITE 403
SOUTHFIELD, MI 48076 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,365 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $177,479,000 |
| Average Mortgage Loan Amount Applied For | $156,358 |
| Highest Mortgage Loan Amount Applied For | $1,200,000 |
| Average Applicant Income | $75,792 |
| Highest Applicant Income | $643,000 |
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| Home Improvement |
15 | $1,396,000 |
$93,000 | $180,000 |
$67,000 | $117,000 |
| Home Purchase |
714 | $96,489,000 |
$135,000 | $577,000 |
$62,000 | $425,000 |
| Refinancing |
962 | $123,673,000 |
$128,000 | $1,200,000 |
$63,000 | $643,000 |
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| American Indian or Alaskan Native |
8 | $950,000 |
$118,000 | $214,000 |
$65,000 | $121,000 |
| Asian |
13 | $1,961,000 |
$150,000 | $261,000 |
$51,000 | $82,000 |
| Black or African American |
503 | $59,688,000 |
$118,000 | $1,029,000 |
$61,000 | $290,000 |
| Hispanic |
39 | $4,735,000 |
$121,000 | $341,000 |
$57,000 | $146,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $95,000 |
$95,000 | $95,000 |
$50,000 | $50,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
159 | $19,608,000 |
$123,000 | $450,000 |
$59,000 | $200,000 |
| White |
968 | $134,521,000 |
$138,000 | $1,200,000 |
$65,000 | $643,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,691 | $221,558,000 |
$131,000 | $1,200,000 |
$63,000 | $643,000 |
| 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 |
168 | $23,039,000 |
$137,000 | $425,000 |
$65,000 | $250,000 |
| Application Denied By Financial Institution |
265 | $33,616,000 |
$126,000 | $1,200,000 |
$58,000 | $643,000 |
| Application Withdrawn By Applicant |
0 | $0 |
$0 | $0 |
$0 | $0 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
932 | $120,824,000 |
$129,000 | $920,000 |
$65,000 | $359,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
83 | $12,528,000 |
$150,000 | $359,000 |
$60,000 | $144,000 |
| Preapproval Denied by Financial Institution |
243 | $31,551,000 |
$129,000 | $530,000 |
$57,000 | $425,000 |
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| Collateral |
33 | $4,684,000 |
$141,000 | $1,029,000 |
$65,000 | $290,000 |
| Credit Application Incomplete |
204 | $26,353,000 |
$129,000 | $409,000 |
$59,000 | $425,000 |
| Credit History |
211 | $24,392,000 |
$115,000 | $380,000 |
$57,000 | $643,000 |
| Debt-To-Income Ratio |
49 | $8,583,000 |
$175,000 | $1,200,000 |
$54,000 | $239,000 |
| Employment History |
1 | $135,000 |
$135,000 | $135,000 |
$32,000 | $32,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
6 | $647,000 |
$107,000 | $139,000 |
$45,000 | $58,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
3 | $277,000 |
$92,000 | $136,000 |
$36,000 | $64,000 |
| Unverifiable Information |
1 | $96,000 |
$96,000 | $96,000 |
$45,000 | $45,000 |
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Mortgage Loan App Totals for MORTGAGE CENTER LC by:
Metropolitan Area And
County
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