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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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MVFCU
Mortgage Loans and Application Details
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| Mortgage Company Name |
MVFCU |
| Address | 1475 OSGOOD STREET
NORTH ANDOVER, MA 01845 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 198 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $38,913,000 |
| Average Mortgage Loan Amount Applied For | $192,166 |
| Highest Mortgage Loan Amount Applied For | $700,000 |
| Average Applicant Income | $74,277 |
| Highest Applicant Income | $216,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
70 | $15,443,000 |
$220,000 | $700,000 |
$75,000 | $216,000 |
| Refinancing |
153 | $28,415,000 |
$185,000 | $448,000 |
$63,000 | $182,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
2 | $434,000 |
$217,000 | $224,000 |
$59,000 | $73,000 |
| Black or African American |
1 | $365,000 |
$365,000 | $365,000 |
$92,000 | $92,000 |
| Hispanic |
9 | $1,628,000 |
$180,000 | $296,000 |
$46,000 | $84,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
30 | $6,767,000 |
$225,000 | $700,000 |
$69,000 | $215,000 |
| White |
181 | $34,664,000 |
$191,000 | $448,000 |
$67,000 | $216,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
223 | $43,858,000 |
$196,000 | $700,000 |
$67,000 | $216,000 |
| 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 |
7 | $1,225,000 |
$175,000 | $250,000 |
$62,000 | $121,000 |
| Application Denied By Financial Institution |
25 | $5,487,000 |
$219,000 | $368,000 |
$56,000 | $130,000 |
| Application Withdrawn By Applicant |
17 | $4,090,000 |
$240,000 | $700,000 |
$80,000 | $182,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
171 | $32,381,000 |
$189,000 | $448,000 |
$67,000 | $216,000 |
| 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 | $675,000 |
$225,000 | $310,000 |
$36,000 | $47,000 |
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| Collateral |
1 | $276,000 |
$276,000 | $276,000 |
$79,000 | $79,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
10 | $2,289,000 |
$228,000 | $310,000 |
$51,000 | $78,000 |
| Debt-To-Income Ratio |
2 | $381,000 |
$190,000 | $247,000 |
$35,000 | $39,000 |
| Employment History |
1 | $97,000 |
$97,000 | $97,000 |
$40,000 | $40,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $50,000 |
$50,000 | $50,000 |
$15,000 | $15,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $210,000 |
$210,000 | $210,000 |
$38,000 | $38,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for MVFCU by:
Metropolitan Area And
County
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