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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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MVB MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
MVB MORTGAGE CORPORATION |
| Address | 24400 NORTHWESTERN HWY. SUITE 200
SOUTHFIELD, MI 48075 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 63 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $6,290,000 |
| Average Mortgage Loan Amount Applied For | $112,550 |
| Highest Mortgage Loan Amount Applied For | $235,000 |
| Average Applicant Income | $37,150 |
| Highest Applicant Income | $93,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
10 | $1,177,000 |
$117,000 | $163,000 |
$50,000 | $79,000 |
| Refinancing |
56 | $5,360,000 |
$95,000 | $235,000 |
$19,000 | $93,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
33 | $2,888,000 |
$87,000 | $132,000 |
$8,000 | $59,000 |
| Hispanic |
1 | $57,000 |
$57,000 | $57,000 |
$0 | $0 |
| Native Hawaiin or Other Pacific Islander |
1 | $51,000 |
$51,000 | $51,000 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
31 | $3,541,000 |
$114,000 | $235,000 |
$42,000 | $93,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
17 | $1,918,000 |
$112,000 | $235,000 |
$61,000 | $93,000 |
| FHA-insured (Federal Housing Administration) |
37 | $3,461,000 |
$93,000 | $175,000 |
$6,000 | $72,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
12 | $1,158,000 |
$96,000 | $185,000 |
$24,000 | $79,000 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
8 | $915,000 |
$114,000 | $235,000 |
$39,000 | $72,000 |
| Application Withdrawn By Applicant |
7 | $474,000 |
$67,000 | $104,000 |
$58,000 | $93,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
51 | $5,148,000 |
$100,000 | $175,000 |
$16,000 | $88,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
1 | $39,000 |
$39,000 | $39,000 |
$35,000 | $35,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
5 | $601,000 |
$120,000 | $235,000 |
$46,000 | $72,000 |
| Debt-To-Income Ratio |
1 | $185,000 |
$185,000 | $185,000 |
$47,000 | $47,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $90,000 |
$90,000 | $90,000 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MVB MORTGAGE CORPORATION by:
Metropolitan Area And
County
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