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| $5,279,183,286,000 in Mortgage Loans Applied for in 2007 from 26,605,695 Applications |
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MORTGAGE NETWORK INC
Mortgage Loans and Application Details
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| Mortgage Company Name |
MORTGAGE NETWORK INC |
| Address | 300 ROSEWOOD DR
DANVERS, MA 01923 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2007 |
| Data Years (click a year for detail) | 2005 2006 2007 |
| Total Number of Mortgage Loan Applications Processed | 12,554 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $2,811,967,000 |
| Average Mortgage Loan Amount Applied For | $175,703 |
| Highest Mortgage Loan Amount Applied For | $3,000,000 |
| Average Applicant Income | $77,813 |
| Highest Applicant Income | $8,622,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
6,811 | $1,423,601,000 |
$209,000 | $3,000,000 |
$94,000 | $8,622,000 |
| Refinancing |
5,778 | $1,395,203,000 |
$241,000 | $2,795,000 |
$77,000 | $6,169,000 |
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| American Indian or Alaskan Native |
17 | $3,896,000 |
$229,000 | $417,000 |
$82,000 | $228,000 |
| Asian |
231 | $54,419,000 |
$235,000 | $1,000,000 |
$96,000 | $435,000 |
| Black or African American |
267 | $51,905,000 |
$194,000 | $1,817,000 |
$76,000 | $3,000,000 |
| Hispanic |
287 | $53,544,000 |
$186,000 | $1,250,000 |
$58,000 | $287,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1,372 | $318,085,000 |
$231,000 | $3,000,000 |
$38,000 | $1,765,000 |
| White |
10,415 | $2,336,955,000 |
$224,000 | $3,000,000 |
$93,000 | $8,622,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
12,559 | $2,811,994,000 |
$223,000 | $3,000,000 |
$86,000 | $8,622,000 |
| FHA-insured (Federal Housing Administration) |
30 | $6,810,000 |
$227,000 | $325,000 |
$66,000 | $183,000 |
| 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 |
594 | $153,308,000 |
$258,000 | $2,795,000 |
$55,000 | $1,469,000 |
| Application Denied By Financial Institution |
194 | $36,655,000 |
$188,000 | $1,020,000 |
$29,000 | $492,000 |
| Application Withdrawn By Applicant |
557 | $124,149,000 |
$222,000 | $3,000,000 |
$18,000 | $1,765,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
9,146 | $2,059,726,000 |
$225,000 | $3,000,000 |
$92,000 | $7,500,000 |
| Loan Purchased By The Institution |
2,098 | $444,966,000 |
$212,000 | $1,871,000 |
$91,000 | $8,622,000 |
| 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 |
51 | $8,627,000 |
$169,000 | $375,000 |
$14,000 | $114,000 |
| Credit Application Incomplete |
3 | $1,013,000 |
$337,000 | $417,000 |
$100,000 | $168,000 |
| Credit History |
40 | $8,258,000 |
$206,000 | $573,000 |
$10,000 | $135,000 |
| Debt-To-Income Ratio |
35 | $7,074,000 |
$202,000 | $875,000 |
$48,000 | $169,000 |
| Employment History |
1 | $226,000 |
$226,000 | $226,000 |
$91,000 | $91,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
1 | $198,000 |
$198,000 | $198,000 |
$0 | $0 |
| Other |
61 | $10,824,000 |
$177,000 | $1,020,000 |
$40,000 | $492,000 |
| Unverifiable Information |
2 | $435,000 |
$217,000 | $280,000 |
$38,000 | $40,000 |
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Mortgage Loan App Totals for MORTGAGE NETWORK INC by:
Metropolitan Area And
County
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