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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 SVCS LLC
Mortgage Loans and Application Details
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| Mortgage Company Name |
OPTEUM FINANCIAL SVCS LLC |
| Address | WEST 115 CENTURY ROAD - 3RD FLOOR
PARAMUS, NJ 07652 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 41,585 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $8,730,107,000 |
| Average Mortgage Loan Amount Applied For | $160,845 |
| Highest Mortgage Loan Amount Applied For | $3,360,000 |
| Average Applicant Income | $83,456 |
| Highest Applicant Income | $5,117,000 |
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| Home Improvement |
49 | $12,219,000 |
$249,000 | $1,000,000 |
$99,000 | $360,000 |
| Home Purchase |
24,642 | $4,663,377,000 |
$189,000 | $3,360,000 |
$98,000 | $5,117,000 |
| Refinancing |
16,894 | $4,054,511,000 |
$239,000 | $3,000,000 |
$92,000 | $2,842,000 |
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| American Indian or Alaskan Native |
140 | $30,618,000 |
$218,000 | $703,000 |
$98,000 | $396,000 |
| Asian |
1,622 | $414,230,000 |
$255,000 | $1,430,000 |
$123,000 | $1,092,000 |
| Black or African American |
7,836 | $1,373,793,000 |
$175,000 | $1,500,000 |
$76,000 | $1,464,000 |
| Hispanic |
9,724 | $2,220,187,000 |
$228,000 | $1,421,000 |
$97,000 | $2,820,000 |
| Native Hawaiin or Other Pacific Islander |
301 | $78,616,000 |
$261,000 | $968,000 |
$118,000 | $720,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
4,035 | $835,938,000 |
$207,000 | $3,000,000 |
$88,000 | $2,400,000 |
| White |
17,927 | $3,776,725,000 |
$210,000 | $3,360,000 |
$102,000 | $5,117,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
38,677 | $8,234,141,000 |
$212,000 | $3,360,000 |
$98,000 | $5,117,000 |
| FHA-insured (Federal Housing Administration) |
2,754 | $465,228,000 |
$168,000 | $571,000 |
$59,000 | $425,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
5 | $603,000 |
$120,000 | $154,000 |
$47,000 | $69,000 |
| VA-guaranteed (Veterans Administration) |
149 | $30,135,000 |
$202,000 | $404,000 |
$68,000 | $208,000 |
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| Application Approved But Not Accepted |
7,770 | $1,875,606,000 |
$241,000 | $1,800,000 |
$94,000 | $1,440,000 |
| Application Denied By Financial Institution |
4,275 | $1,062,616,000 |
$248,000 | $2,140,000 |
$129,000 | $5,117,000 |
| Application Withdrawn By Applicant |
11,449 | $2,227,683,000 |
$194,000 | $3,360,000 |
$92,000 | $2,842,000 |
| File Closed For Incompleteness |
48 | $9,074,000 |
$189,000 | $928,000 |
$90,000 | $600,000 |
| Loan Originated |
18,037 | $3,554,550,000 |
$197,000 | $2,000,000 |
$91,000 | $1,225,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
4 | $436,000 |
$109,000 | $148,000 |
$59,000 | $83,000 |
| Preapproval Denied by Financial Institution |
2 | $142,000 |
$71,000 | $107,000 |
$47,000 | $62,000 |
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| Collateral |
523 | $124,061,000 |
$237,000 | $1,500,000 |
$148,000 | $5,117,000 |
| Credit Application Incomplete |
31 | $7,467,000 |
$240,000 | $637,000 |
$106,000 | $416,000 |
| Credit History |
866 | $205,940,000 |
$237,000 | $2,120,000 |
$107,000 | $1,245,000 |
| Debt-To-Income Ratio |
275 | $70,105,000 |
$254,000 | $1,000,000 |
$103,000 | $519,000 |
| Employment History |
253 | $60,998,000 |
$241,000 | $900,000 |
$117,000 | $701,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
37 | $9,550,000 |
$258,000 | $2,100,000 |
$116,000 | $485,000 |
| Mortgage Insurance Denied |
9 | $2,260,000 |
$251,000 | $1,000,000 |
$164,000 | $420,000 |
| Other |
1,731 | $433,952,000 |
$250,000 | $2,140,000 |
$140,000 | $3,399,000 |
| Unverifiable Information |
551 | $148,375,000 |
$269,000 | $1,019,000 |
$133,000 | $1,092,000 |
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Mortgage Loan App Totals for OPTEUM FINANCIAL SVCS LLC by:
Metropolitan Area And
County
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