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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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NEW FED MORTGAGE CORP.
Mortgage Loans and Application Details
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| Mortgage Company Name |
NEW FED MORTGAGE CORP. |
| Address | 1711 BROADWAY, ROUTE 99S
SAUGUS, MA 01906 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 545 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $121,261,000 |
| Average Mortgage Loan Amount Applied For | $200,033 |
| Highest Mortgage Loan Amount Applied For | $1,280,000 |
| Average Applicant Income | $96,133 |
| Highest Applicant Income | $547,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
327 | $66,583,000 |
$203,000 | $1,280,000 |
$96,000 | $547,000 |
| Refinancing |
218 | $54,678,000 |
$250,000 | $832,000 |
$100,000 | $480,000 |
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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 |
2 | $257,000 |
$128,000 | $216,000 |
$53,000 | $56,000 |
| Hispanic |
46 | $10,297,000 |
$223,000 | $417,000 |
$74,000 | $127,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
492 | $109,755,000 |
$223,000 | $1,280,000 |
$100,000 | $547,000 |
| White |
5 | $952,000 |
$190,000 | $417,000 |
$57,000 | $108,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
544 | $120,850,000 |
$222,000 | $1,280,000 |
$97,000 | $547,000 |
| FHA-insured (Federal Housing Administration) |
1 | $411,000 |
$411,000 | $411,000 |
$100,000 | $100,000 |
| 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 |
27 | $5,149,000 |
$190,000 | $410,000 |
$92,000 | $300,000 |
| Application Denied By Financial Institution |
45 | $10,711,000 |
$238,000 | $675,000 |
$94,000 | $338,000 |
| Application Withdrawn By Applicant |
60 | $14,578,000 |
$242,000 | $1,280,000 |
$105,000 | $480,000 |
| File Closed For Incompleteness |
1 | $100,000 |
$100,000 | $100,000 |
$104,000 | $104,000 |
| Loan Originated |
412 | $90,723,000 |
$220,000 | $832,000 |
$97,000 | $547,000 |
| 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 |
8 | $1,787,000 |
$223,000 | $404,000 |
$65,000 | $196,000 |
| Credit Application Incomplete |
5 | $1,381,000 |
$276,000 | $675,000 |
$192,000 | $338,000 |
| Credit History |
7 | $1,231,000 |
$175,000 | $292,000 |
$110,000 | $190,000 |
| Debt-To-Income Ratio |
8 | $2,253,000 |
$281,000 | $533,000 |
$64,000 | $122,000 |
| Employment History |
2 | $292,000 |
$146,000 | $155,000 |
$91,000 | $134,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $1,144,000 |
$286,000 | $410,000 |
$87,000 | $125,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
9 | $2,183,000 |
$242,000 | $492,000 |
$79,000 | $138,000 |
| Unverifiable Information |
2 | $440,000 |
$220,000 | $352,000 |
$116,000 | $116,000 |
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Mortgage Loan App Totals for NEW FED MORTGAGE CORP. by:
Metropolitan Area And
County
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