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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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PROGRESSIVE MORTGAGE COMPANY
Mortgage Loans and Application Details
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| Mortgage Company Name |
PROGRESSIVE MORTGAGE COMPANY |
| Address | 125 S. FIFTH AVE.
ANN ARBOR, MI 48104 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,332 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $200,514,000 |
| Average Mortgage Loan Amount Applied For | $162,179 |
| Highest Mortgage Loan Amount Applied For | $1,500,000 |
| Average Applicant Income | $85,475 |
| Highest Applicant Income | $923,000 |
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| Home Improvement |
1 | $60,000 |
$60,000 | $60,000 |
$27,000 | $27,000 |
| Home Purchase |
466 | $68,293,000 |
$146,000 | $1,500,000 |
$85,000 | $923,000 |
| Refinancing |
865 | $132,161,000 |
$152,000 | $960,000 |
$75,000 | $540,000 |
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| American Indian or Alaskan Native |
2 | $212,000 |
$106,000 | $148,000 |
$58,000 | $78,000 |
| Asian |
10 | $2,754,000 |
$275,000 | $960,000 |
$70,000 | $180,000 |
| Black or African American |
89 | $11,478,000 |
$128,000 | $568,000 |
$60,000 | $169,000 |
| Hispanic |
27 | $4,198,000 |
$155,000 | $377,000 |
$61,000 | $156,000 |
| Native Hawaiin or Other Pacific Islander |
2 | $233,000 |
$116,000 | $173,000 |
$16,000 | $32,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
72 | $11,522,000 |
$160,000 | $1,194,000 |
$70,000 | $660,000 |
| White |
1,130 | $170,117,000 |
$150,000 | $1,500,000 |
$81,000 | $923,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,332 | $200,514,000 |
$150,000 | $1,500,000 |
$78,000 | $923,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
294 | $43,253,000 |
$147,000 | $910,000 |
$72,000 | $480,000 |
| Application Withdrawn By Applicant |
130 | $23,305,000 |
$179,000 | $1,500,000 |
$90,000 | $923,000 |
| File Closed For Incompleteness |
317 | $49,510,000 |
$156,000 | $662,000 |
$79,000 | $540,000 |
| Loan Originated |
591 | $84,446,000 |
$142,000 | $952,000 |
$79,000 | $420,000 |
| 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 |
33 | $6,740,000 |
$204,000 | $910,000 |
$107,000 | $408,000 |
| Credit Application Incomplete |
8 | $1,254,000 |
$156,000 | $260,000 |
$55,000 | $109,000 |
| Credit History |
122 | $16,707,000 |
$136,000 | $650,000 |
$65,000 | $328,000 |
| Debt-To-Income Ratio |
70 | $10,604,000 |
$151,000 | $508,000 |
$58,000 | $480,000 |
| Employment History |
5 | $600,000 |
$120,000 | $252,000 |
$52,000 | $73,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
17 | $2,233,000 |
$131,000 | $247,000 |
$58,000 | $166,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
23 | $3,358,000 |
$146,000 | $457,000 |
$103,000 | $405,000 |
| Unverifiable Information |
7 | $763,000 |
$109,000 | $211,000 |
$116,000 | $412,000 |
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Mortgage Loan App Totals for PROGRESSIVE MORTGAGE COMPANY by:
Metropolitan Area And
County
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