|
|
| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
|
|
|
|
|
|
POLARIS HOME FUNDING CORP.
Mortgage Loans and Application Details
|
|
|
|
| Mortgage Company Name |
POLARIS HOME FUNDING CORP. |
| Address | 0-185 44TH ST. SW SUITE 2
GRANDVILLE, MI 49418 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 2,900 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $356,516,000 |
| Average Mortgage Loan Amount Applied For | $137,509 |
| Highest Mortgage Loan Amount Applied For | $8,800,000 |
| Average Applicant Income | $63,294 |
| Highest Applicant Income | $3,600,000 |
|
|
|
| Home Improvement |
25 | $674,000 |
$26,000 | $61,000 |
$88,000 | $312,000 |
| Home Purchase |
1,567 | $168,345,000 |
$107,000 | $798,000 |
$57,000 | $1,020,000 |
| Refinancing |
1,955 | $257,189,000 |
$131,000 | $8,800,000 |
$61,000 | $3,600,000 |
|
|
| American Indian or Alaskan Native |
8 | $870,000 |
$108,000 | $196,000 |
$47,000 | $78,000 |
| Asian |
22 | $3,336,000 |
$151,000 | $477,000 |
$73,000 | $413,000 |
| Black or African American |
270 | $27,710,000 |
$102,000 | $272,000 |
$45,000 | $180,000 |
| Hispanic |
99 | $9,818,000 |
$99,000 | $231,000 |
$42,000 | $150,000 |
| Native Hawaiin or Other Pacific Islander |
3 | $404,000 |
$134,000 | $162,000 |
$44,000 | $64,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
20 | $2,463,000 |
$123,000 | $415,000 |
$53,000 | $156,000 |
| White |
3,125 | $381,607,000 |
$122,000 | $8,800,000 |
$61,000 | $3,600,000 |
|
|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,969 | $243,874,000 |
$123,000 | $8,800,000 |
$73,000 | $3,600,000 |
| FHA-insured (Federal Housing Administration) |
1,482 | $173,161,000 |
$116,000 | $229,000 |
$43,000 | $174,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
93 | $8,798,000 |
$94,000 | $192,000 |
$36,000 | $73,000 |
| VA-guaranteed (Veterans Administration) |
3 | $375,000 |
$125,000 | $161,000 |
$40,000 | $89,000 |
|
|
| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
287 | $32,434,000 |
$113,000 | $415,000 |
$52,000 | $378,000 |
| Application Withdrawn By Applicant |
472 | $64,540,000 |
$136,000 | $8,800,000 |
$66,000 | $3,600,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
5 | $629,000 |
$125,000 | $157,000 |
$36,000 | $60,000 |
| Loan Purchased By The Institution |
2,783 | $328,605,000 |
$118,000 | $666,000 |
$59,000 | $1,020,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
|
|
| Collateral |
38 | $4,679,000 |
$123,000 | $332,000 |
$60,000 | $378,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
94 | $10,852,000 |
$115,000 | $415,000 |
$45,000 | $106,000 |
| Debt-To-Income Ratio |
64 | $6,802,000 |
$106,000 | $198,000 |
$34,000 | $129,000 |
| Employment History |
8 | $582,000 |
$72,000 | $121,000 |
$33,000 | $99,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
6 | $620,000 |
$103,000 | $166,000 |
$37,000 | $58,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
75 | $8,579,000 |
$114,000 | $304,000 |
$74,000 | $331,000 |
| Unverifiable Information |
2 | $320,000 |
$160,000 | $163,000 |
$81,000 | $90,000 |
|
Mortgage Loan App Totals for POLARIS HOME FUNDING CORP. by:
Metropolitan Area And
County
|
|
|
|
|
Copyright ©2008 AllMortgageDetail.com All rights reserved.
|
|
