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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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MSU FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MSU FEDERAL CREDIT UNION |
| Address | 600 EAST CRESCENT RD.
EAST LANSING, MI 48823 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,709 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $159,657,000 |
| Average Mortgage Loan Amount Applied For | $72,192 |
| Highest Mortgage Loan Amount Applied For | $664,000 |
| Average Applicant Income | $86,980 |
| Highest Applicant Income | $1,613,000 |
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| Home Improvement |
627 | $14,658,000 |
$23,000 | $157,000 |
$76,000 | $301,000 |
| Home Purchase |
944 | $134,557,000 |
$142,000 | $584,000 |
$80,000 | $1,138,000 |
| Refinancing |
608 | $78,038,000 |
$128,000 | $664,000 |
$80,000 | $1,613,000 |
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| American Indian or Alaskan Native |
11 | $1,031,000 |
$93,000 | $285,000 |
$54,000 | $117,000 |
| Asian |
43 | $6,060,000 |
$140,000 | $300,000 |
$79,000 | $273,000 |
| Black or African American |
118 | $10,453,000 |
$88,000 | $350,000 |
$64,000 | $199,000 |
| Hispanic |
54 | $5,605,000 |
$103,000 | $375,000 |
$97,000 | $876,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $41,000 |
$41,000 | $41,000 |
$203,000 | $203,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
429 | $60,321,000 |
$140,000 | $664,000 |
$84,000 | $1,138,000 |
| White |
1,523 | $143,742,000 |
$94,000 | $600,000 |
$77,000 | $1,613,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,179 | $227,253,000 |
$104,000 | $664,000 |
$78,000 | $1,613,000 |
| 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 |
85 | $2,863,000 |
$33,000 | $180,000 |
$74,000 | $173,000 |
| Application Denied By Financial Institution |
147 | $9,649,000 |
$65,000 | $330,000 |
$54,000 | $432,000 |
| Application Withdrawn By Applicant |
579 | $81,566,000 |
$140,000 | $664,000 |
$79,000 | $1,613,000 |
| File Closed For Incompleteness |
35 | $4,597,000 |
$131,000 | $360,000 |
$157,000 | $1,138,000 |
| Loan Originated |
1,330 | $128,314,000 |
$96,000 | $600,000 |
$79,000 | $359,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
3 | $264,000 |
$88,000 | $104,000 |
$29,000 | $35,000 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
8 | $104,000 |
$13,000 | $50,000 |
$78,000 | $180,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
25 | $333,000 |
$13,000 | $118,000 |
$51,000 | $102,000 |
| Debt-To-Income Ratio |
27 | $498,000 |
$18,000 | $157,000 |
$43,000 | $102,000 |
| Employment History |
2 | $164,000 |
$82,000 | $90,000 |
$25,000 | $33,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $64,000 |
$64,000 | $64,000 |
$28,000 | $28,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
6 | $141,000 |
$23,000 | $41,000 |
$83,000 | $174,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MSU FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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