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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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OPTIMA FUNDING
Mortgage Loans and Application Details
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| Mortgage Company Name |
OPTIMA FUNDING |
| Address | 5 HUTTON CENTRE DRIVE
SANTA ANA, CA 92707 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2003 |
| All Data Years | 2003 |
| Total Number of Mortgage Loan Applications Processed | 1,274 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $243,497,000 |
| Average Mortgage Loan Amount Applied For | $210,416 |
| Highest Mortgage Loan Amount Applied For | $840,000 |
| Average Applicant Income | $62,791 |
| Highest Applicant Income | $706,000 |
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| Home Improvement (one-to-four family) |
49 | $9,371,000 |
$191,000 | $675,000 |
$57,000 | $204,000 |
| Home Purchase (one-to-four family) |
248 | $44,020,000 |
$177,000 | $776,000 |
$54,000 | $300,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Refinancing (home purchase or home improvement, one-to-four family) |
986 | $192,013,000 |
$194,000 | $840,000 |
$60,000 | $706,000 |
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| American Indian or Alaskan Native |
14 | $3,620,000 |
$258,000 | $455,000 |
$64,000 | $120,000 |
| Asian or Pacific Islander |
39 | $9,921,000 |
$254,000 | $713,000 |
$63,000 | $142,000 |
| Black |
80 | $15,223,000 |
$190,000 | $651,000 |
$71,000 | $300,000 |
| Hispanic |
436 | $78,500,000 |
$180,000 | $652,000 |
$49,000 | $300,000 |
| Information not provided by applicant in mail or telephone application |
310 | $57,827,000 |
$186,000 | $600,000 |
$54,000 | $192,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
21 | $5,192,000 |
$247,000 | $670,000 |
$74,000 | $228,000 |
| White |
383 | $75,121,000 |
$196,000 | $840,000 |
$63,000 | $706,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,282 | $244,927,000 |
$191,000 | $840,000 |
$58,000 | $706,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
1 | $477,000 |
$477,000 | $477,000 |
$105,000 | $105,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
4 | $775,000 |
$193,000 | $338,000 |
$68,000 | $114,000 |
| Application Denied By Financial Institution |
600 | $106,568,000 |
$177,000 | $795,000 |
$55,000 | $300,000 |
| Application Withdrawn By Applicant |
431 | $85,176,000 |
$197,000 | $840,000 |
$56,000 | $292,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
248 | $52,885,000 |
$213,000 | $564,000 |
$73,000 | $706,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
38 | $7,153,000 |
$188,000 | $670,000 |
$69,000 | $228,000 |
| Credit Application Incomplete |
6 | $948,000 |
$158,000 | $209,000 |
$38,000 | $84,000 |
| Credit History |
397 | $69,020,000 |
$173,000 | $776,000 |
$55,000 | $300,000 |
| Debt-To-Income Ratio |
2 | $350,000 |
$175,000 | $250,000 |
$70,000 | $111,000 |
| Employment History |
10 | $1,526,000 |
$152,000 | $208,000 |
$25,000 | $64,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
31 | $4,872,000 |
$157,000 | $293,000 |
$47,000 | $120,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
75 | $14,194,000 |
$189,000 | $651,000 |
$58,000 | $300,000 |
| Unverifiable Information |
11 | $2,643,000 |
$240,000 | $570,000 |
$53,000 | $165,000 |
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Mortgage Loan App Totals for OPTIMA FUNDING by:
Metropolitan Area And
County
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