|
|
| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
|
|
|
|
|
|
PROVIDENCE MORTGAGE COMPANY
Mortgage Loans and Application Details
|
|
|
|
| Mortgage Company Name |
PROVIDENCE MORTGAGE COMPANY |
| Address | 500 N. HOMER STREET
LANSING, MI 48912 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,641 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $190,900,000 |
| Average Mortgage Loan Amount Applied For | $120,735 |
| Highest Mortgage Loan Amount Applied For | $4,450,000 |
| Average Applicant Income | $74,441 |
| Highest Applicant Income | $540,000 |
|
|
|
| Home Improvement |
58 | $5,797,000 |
$99,000 | $243,000 |
$67,000 | $233,000 |
| Home Purchase |
926 | $108,481,000 |
$117,000 | $880,000 |
$72,000 | $540,000 |
| Refinancing |
657 | $76,622,000 |
$116,000 | $4,450,000 |
$71,000 | $407,000 |
|
|
| American Indian or Alaskan Native |
3 | $519,000 |
$173,000 | $294,000 |
$117,000 | $142,000 |
| Asian |
27 | $3,740,000 |
$138,000 | $365,000 |
$78,000 | $198,000 |
| Black or African American |
57 | $6,195,000 |
$108,000 | $283,000 |
$53,000 | $180,000 |
| Hispanic |
48 | $5,302,000 |
$110,000 | $274,000 |
$66,000 | $240,000 |
| Native Hawaiin or Other Pacific Islander |
2 | $676,000 |
$338,000 | $348,000 |
$50,000 | $50,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
182 | $24,276,000 |
$133,000 | $4,450,000 |
$54,000 | $370,000 |
| White |
1,322 | $150,192,000 |
$113,000 | $880,000 |
$75,000 | $540,000 |
|
|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,518 | $175,431,000 |
$115,000 | $4,450,000 |
$73,000 | $540,000 |
| FHA-insured (Federal Housing Administration) |
107 | $13,074,000 |
$122,000 | $234,000 |
$55,000 | $281,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
5 | $649,000 |
$129,000 | $185,000 |
$43,000 | $50,000 |
| VA-guaranteed (Veterans Administration) |
11 | $1,746,000 |
$158,000 | $215,000 |
$58,000 | $91,000 |
|
|
| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
179 | $20,323,000 |
$113,000 | $350,000 |
$49,000 | $216,000 |
| Application Withdrawn By Applicant |
451 | $58,988,000 |
$130,000 | $4,450,000 |
$68,000 | $468,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
1,011 | $111,589,000 |
$110,000 | $880,000 |
$77,000 | $540,000 |
| 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 |
|
|
| Collateral |
12 | $1,877,000 |
$156,000 | $350,000 |
$50,000 | $95,000 |
| Credit Application Incomplete |
8 | $834,000 |
$104,000 | $206,000 |
$31,000 | $88,000 |
| Credit History |
87 | $9,341,000 |
$107,000 | $301,000 |
$43,000 | $216,000 |
| Debt-To-Income Ratio |
19 | $2,435,000 |
$128,000 | $300,000 |
$43,000 | $169,000 |
| Employment History |
6 | $513,000 |
$85,000 | $167,000 |
$31,000 | $66,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $461,000 |
$115,000 | $245,000 |
$55,000 | $91,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
11 | $1,442,000 |
$131,000 | $283,000 |
$63,000 | $115,000 |
| Unverifiable Information |
10 | $841,000 |
$84,000 | $190,000 |
$129,000 | $192,000 |
|
Mortgage Loan App Totals for PROVIDENCE MORTGAGE COMPANY by:
Metropolitan Area And
County
|
|
|
|
|
Copyright ©2008 AllMortgageDetail.com All rights reserved.
|
|
