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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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OPTEUM FINANCIAL SERVICES LLC
Mortgage Loans and Application Details
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| Mortgage Company Name |
OPTEUM FINANCIAL SERVICES LLC |
| Address | WEST 115 CENTURY ROAD - 3RD FLOOR
PARAMUS, NJ 07652 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 36,776 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $6,253,269,000 |
| Average Mortgage Loan Amount Applied For | $134,750 |
| Highest Mortgage Loan Amount Applied For | $3,900,000 |
| Average Applicant Income | $75,165 |
| Highest Applicant Income | $8,511,000 |
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| Home Improvement |
40 | $6,986,000 |
$186,692 | $1,500,000 |
$72,384 | $177,000 |
| Home Purchase |
23,147 | $3,513,067,000 |
$135,666 | $1,755,000 |
$89,625 | $8,511,000 |
| Refinancing |
13,589 | $2,733,216,000 |
$174,187 | $3,900,000 |
$79,333 | $4,020,000 |
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| American Indian or Alaskan Native |
100 | $19,942,000 |
$220,555 | $1,425,000 |
$82,722 | $590,000 |
| Asian |
1,223 | $251,407,000 |
$166,575 | $1,170,000 |
$89,060 | $1,320,000 |
| Black or African American |
6,070 | $877,884,000 |
$128,538 | $1,000,000 |
$75,666 | $8,511,000 |
| Hispanic |
4,087 | $768,417,000 |
$138,030 | $2,200,000 |
$67,363 | $960,000 |
| Native Hawaiin or Other Pacific Islander |
169 | $31,185,000 |
$168,588 | $680,000 |
$73,058 | $264,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
6,541 | $1,018,796,000 |
$150,434 | $2,940,000 |
$83,065 | $1,663,000 |
| White |
18,586 | $3,285,638,000 |
$155,916 | $3,900,000 |
$89,354 | $4,020,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
33,334 | $5,765,988,000 |
$152,959 | $3,900,000 |
$88,612 | $8,511,000 |
| FHA-insured (Federal Housing Administration) |
3,168 | $445,662,000 |
$127,085 | $499,000 |
$44,228 | $347,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
7 | $844,000 |
$120,000 | $180,000 |
$40,500 | $68,000 |
| VA-guaranteed (Veterans Administration) |
267 | $40,775,000 |
$137,391 | $245,000 |
$44,043 | $165,000 |
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| Application Approved But Not Accepted |
3,833 | $786,518,000 |
$151,069 | $2,000,000 |
$83,581 | $1,785,000 |
| Application Denied By Financial Institution |
2,227 | $425,249,000 |
$154,422 | $2,700,000 |
$78,711 | $1,320,000 |
| Application Withdrawn By Applicant |
8,889 | $1,456,686,000 |
$142,787 | $2,940,000 |
$82,063 | $1,663,000 |
| File Closed For Incompleteness |
50 | $10,237,000 |
$192,000 | $1,300,000 |
$110,444 | $360,000 |
| Loan Originated |
21,777 | $3,574,579,000 |
$151,936 | $3,900,000 |
$83,170 | $8,511,000 |
| 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 |
424 | $80,508,000 |
$141,620 | $1,500,000 |
$91,241 | $1,010,000 |
| Credit Application Incomplete |
23 | $2,767,000 |
$120,500 | $298,000 |
$36,833 | $180,000 |
| Credit History |
603 | $116,673,000 |
$195,789 | $2,700,000 |
$77,657 | $1,320,000 |
| Debt-To-Income Ratio |
215 | $36,523,000 |
$136,875 | $636,000 |
$63,500 | $403,000 |
| Employment History |
98 | $18,023,000 |
$125,050 | $1,000,000 |
$66,200 | $325,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
28 | $3,946,000 |
$138,818 | $371,000 |
$69,545 | $262,000 |
| Mortgage Insurance Denied |
3 | $499,000 |
$166,333 | $376,000 |
$79,333 | $148,000 |
| Other |
734 | $143,075,000 |
$117,787 | $1,380,000 |
$77,090 | $950,000 |
| Unverifiable Information |
99 | $23,235,000 |
$180,769 | $904,000 |
$71,461 | $477,000 |
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Mortgage Loan App Totals for OPTEUM FINANCIAL SERVICES LLC by:
Metropolitan Area And
County
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