| $3,446,236,491 in Mortgage Loans Applied for in 2008 from 17,391,570 Applications |
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PRECISION FINANCIAL INC
Mortgage Loans and Application Details
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| Mortgage Company Name |
PRECISION FINANCIAL INC |
| Address | 6800 JERICHO TURNPIKE SUITE206E
SYOSSET, NY 11791 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2007 |
| Data Years (click a year for detail) | 2004 2005 2006 2007 2008 |
| Total Number of Mortgage Loan Applications Processed | 1,715 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $471,935,000 |
| Average Mortgage Loan Amount Applied For | $224,951 |
| Highest Mortgage Loan Amount Applied For | $2,220,000 |
| Average Applicant Income | $80,932 |
| Highest Applicant Income | $960,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
194 | $62,309,000 |
$321,000 | $2,025,000 |
$143,000 | $780,000 |
| Refinancing |
1,521 | $409,626,000 |
$269,000 | $2,220,000 |
$96,000 | $960,000 |
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| American Indian or Alaskan Native |
1 | $394,000 |
$394,000 | $394,000 |
$74,000 | $74,000 |
| Asian |
37 | $9,564,000 |
$258,000 | $880,000 |
$84,000 | $249,000 |
| Black or African American |
340 | $92,544,000 |
$272,000 | $825,000 |
$90,000 | $500,000 |
| Hispanic |
213 | $64,237,000 |
$301,000 | $1,496,000 |
$106,000 | $363,000 |
| Native Hawaiin or Other Pacific Islander |
7 | $1,859,000 |
$265,000 | $557,000 |
$96,000 | $164,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
314 | $83,356,000 |
$265,000 | $2,220,000 |
$98,000 | $735,000 |
| White |
803 | $219,981,000 |
$273,000 | $2,025,000 |
$108,000 | $960,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,493 | $420,786,000 |
$281,000 | $2,220,000 |
$107,000 | $960,000 |
| FHA-insured (Federal Housing Administration) |
222 | $51,149,000 |
$230,000 | $452,000 |
$68,000 | $152,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
313 | $93,926,000 |
$300,000 | $2,220,000 |
$119,000 | $816,000 |
| Application Denied By Financial Institution |
87 | $25,694,000 |
$295,000 | $1,615,000 |
$102,000 | $420,000 |
| Application Withdrawn By Applicant |
362 | $102,484,000 |
$283,000 | $2,025,000 |
$117,000 | $735,000 |
| File Closed For Incompleteness |
41 | $13,544,000 |
$330,000 | $2,000,000 |
$135,000 | $420,000 |
| Loan Originated |
897 | $232,460,000 |
$259,000 | $1,100,000 |
$89,000 | $960,000 |
| Loan Purchased By The Institution |
15 | $3,827,000 |
$255,000 | $417,000 |
$65,000 | $92,000 |
| 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 |
4 | $422,000 |
$105,000 | $148,000 |
$107,000 | $282,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
4 | $1,141,000 |
$285,000 | $334,000 |
$87,000 | $126,000 |
| Debt-To-Income Ratio |
3 | $734,000 |
$244,000 | $307,000 |
$46,000 | $67,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $299,000 |
$299,000 | $299,000 |
$59,000 | $59,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
18 | $6,695,000 |
$371,000 | $880,000 |
$115,000 | $249,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan Application Totals for PRECISION FINANCIAL INC by:
Metropolitan Area And
County
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