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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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OAK MORTGAGE, LLC
Mortgage Loans and Application Details
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| Mortgage Company Name |
OAK MORTGAGE, LLC |
| Address | 113-125 E CHICAGO RD
STURGIS, MI 49091 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 452 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $48,548,000 |
| Average Mortgage Loan Amount Applied For | $127,428 |
| Highest Mortgage Loan Amount Applied For | $700,000 |
| Average Applicant Income | $63,285 |
| Highest Applicant Income | $500,000 |
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| Home Improvement |
2 | $214,000 |
$107,000 | $179,000 |
$59,000 | $106,000 |
| Home Purchase |
237 | $27,796,000 |
$117,000 | $497,000 |
$58,000 | $262,000 |
| Refinancing |
213 | $20,538,000 |
$96,000 | $700,000 |
$54,000 | $500,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
2 | $229,000 |
$114,000 | $129,000 |
$45,000 | $90,000 |
| Black or African American |
5 | $279,000 |
$55,000 | $79,000 |
$21,000 | $35,000 |
| Hispanic |
42 | $3,221,000 |
$76,000 | $219,000 |
$40,000 | $102,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
403 | $44,819,000 |
$111,000 | $700,000 |
$59,000 | $500,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
426 | $46,470,000 |
$109,000 | $700,000 |
$58,000 | $500,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
26 | $2,078,000 |
$79,000 | $112,000 |
$38,000 | $70,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
5 | $855,000 |
$171,000 | $300,000 |
$86,000 | $140,000 |
| Application Denied By Financial Institution |
75 | $7,642,000 |
$101,000 | $700,000 |
$42,000 | $129,000 |
| Application Withdrawn By Applicant |
39 | $4,031,000 |
$103,000 | $350,000 |
$46,000 | $220,000 |
| File Closed For Incompleteness |
1 | $126,000 |
$126,000 | $126,000 |
$48,000 | $48,000 |
| Loan Originated |
332 | $35,894,000 |
$108,000 | $497,000 |
$60,000 | $500,000 |
| 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 | $120,000 |
$120,000 | $120,000 |
$41,000 | $41,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
43 | $3,120,000 |
$72,000 | $242,000 |
$43,000 | $129,000 |
| Debt-To-Income Ratio |
24 | $3,643,000 |
$151,000 | $700,000 |
$39,000 | $101,000 |
| Employment History |
1 | $101,000 |
$101,000 | $101,000 |
$40,000 | $40,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
3 | $424,000 |
$141,000 | $248,000 |
$51,000 | $60,000 |
| Unverifiable Information |
3 | $234,000 |
$78,000 | $119,000 |
$43,000 | $57,000 |
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Mortgage Loan App Totals for OAK MORTGAGE, LLC by:
Metropolitan Area And
County
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