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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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PARAMOUNT BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
PARAMOUNT BANK |
| Address | 31000 NORTHWESTERN HWY., #200
FARMINGTON HILLS, MI 48334 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 664 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $165,701,000 |
| Average Mortgage Loan Amount Applied For | $260,094 |
| Highest Mortgage Loan Amount Applied For | $2,250,000 |
| Average Applicant Income | $241,698 |
| Highest Applicant Income | $2,238,000 |
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| Home Improvement |
39 | $5,734,000 |
$147,000 | $585,000 |
$83,000 | $186,000 |
| Home Purchase |
314 | $58,929,000 |
$187,000 | $1,500,000 |
$144,000 | $2,238,000 |
| Refinancing |
311 | $101,038,000 |
$324,000 | $2,250,000 |
$191,000 | $1,865,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
7 | $1,477,000 |
$211,000 | $689,000 |
$96,000 | $210,000 |
| Black or African American |
22 | $2,983,000 |
$135,000 | $432,000 |
$82,000 | $281,000 |
| Hispanic |
10 | $2,869,000 |
$286,000 | $640,000 |
$127,000 | $374,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $160,000 |
$160,000 | $160,000 |
$90,000 | $90,000 |
| Not applicable |
14 | $2,544,000 |
$181,000 | $1,350,000 |
$0 | $0 |
| Not Provided |
7 | $1,319,000 |
$188,000 | $476,000 |
$96,000 | $300,000 |
| White |
603 | $154,349,000 |
$255,000 | $2,250,000 |
$171,000 | $2,238,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
631 | $160,628,000 |
$254,000 | $2,250,000 |
$167,000 | $2,238,000 |
| FHA-insured (Federal Housing Administration) |
32 | $4,384,000 |
$137,000 | $220,000 |
$60,000 | $109,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
1 | $689,000 |
$689,000 | $689,000 |
$210,000 | $210,000 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
19 | $5,518,000 |
$290,000 | $1,000,000 |
$523,000 | $2,238,000 |
| Application Denied By Financial Institution |
57 | $16,699,000 |
$292,000 | $2,250,000 |
$205,000 | $1,865,000 |
| Application Withdrawn By Applicant |
31 | $7,134,000 |
$230,000 | $600,000 |
$148,000 | $600,000 |
| File Closed For Incompleteness |
15 | $2,770,000 |
$184,000 | $416,000 |
$177,000 | $1,440,000 |
| Loan Originated |
542 | $133,580,000 |
$246,000 | $1,500,000 |
$145,000 | $1,737,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for PARAMOUNT BANK by:
Metropolitan Area And
County
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