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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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REAL ESTATE MORTGAGE NETWORK
Mortgage Loans and Application Details
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| Mortgage Company Name |
REAL ESTATE MORTGAGE NETWORK |
| Address | 70GRAND AVE STE 109
RIVER EDGE, NJ 07661-1936 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 2,232 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $532,961,000 |
| Average Mortgage Loan Amount Applied For | $201,359 |
| Highest Mortgage Loan Amount Applied For | $2,665,000 |
| Average Applicant Income | $89,921 |
| Highest Applicant Income | $2,035,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
667 | $159,796,000 |
$239,000 | $2,000,000 |
$119,000 | $2,035,000 |
| Refinancing |
1,565 | $373,165,000 |
$238,000 | $2,665,000 |
$99,000 | $1,550,000 |
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| American Indian or Alaskan Native |
6 | $868,000 |
$144,000 | $304,000 |
$75,000 | $173,000 |
| Asian |
142 | $39,828,000 |
$280,000 | $1,170,000 |
$107,000 | $380,000 |
| Black or African American |
248 | $56,558,000 |
$228,000 | $2,000,000 |
$88,000 | $475,000 |
| Hispanic |
237 | $58,264,000 |
$245,000 | $890,000 |
$95,000 | $570,000 |
| Native Hawaiin or Other Pacific Islander |
16 | $6,250,000 |
$390,000 | $2,665,000 |
$182,000 | $1,550,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
200 | $46,241,000 |
$231,000 | $1,450,000 |
$91,000 | $540,000 |
| White |
1,383 | $324,952,000 |
$234,000 | $1,800,000 |
$111,000 | $2,035,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,996 | $484,274,000 |
$242,000 | $2,665,000 |
$109,000 | $2,035,000 |
| FHA-insured (Federal Housing Administration) |
235 | $48,268,000 |
$205,000 | $627,000 |
$71,000 | $165,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
1 | $419,000 |
$419,000 | $419,000 |
$123,000 | $123,000 |
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| Application Approved But Not Accepted |
34 | $8,750,000 |
$257,000 | $890,000 |
$99,000 | $570,000 |
| Application Denied By Financial Institution |
78 | $19,476,000 |
$249,000 | $1,800,000 |
$94,000 | $876,000 |
| Application Withdrawn By Applicant |
303 | $73,067,000 |
$241,000 | $2,665,000 |
$103,000 | $1,550,000 |
| File Closed For Incompleteness |
48 | $11,514,000 |
$239,000 | $544,000 |
$228,000 | $821,000 |
| Loan Originated |
1,769 | $420,154,000 |
$237,000 | $1,500,000 |
$103,000 | $2,035,000 |
| 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 |
18 | $4,069,000 |
$226,000 | $577,000 |
$98,000 | $166,000 |
| Credit Application Incomplete |
2 | $476,000 |
$238,000 | $265,000 |
$87,000 | $103,000 |
| Credit History |
18 | $5,215,000 |
$289,000 | $581,000 |
$69,000 | $230,000 |
| Debt-To-Income Ratio |
4 | $826,000 |
$206,000 | $293,000 |
$56,000 | $75,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $705,000 |
$235,000 | $357,000 |
$58,000 | $91,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
12 | $3,613,000 |
$301,000 | $1,800,000 |
$185,000 | $876,000 |
| Unverifiable Information |
11 | $2,485,000 |
$225,000 | $563,000 |
$69,000 | $126,000 |
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Mortgage Loan App Totals for REAL ESTATE MORTGAGE NETWORK by:
Metropolitan Area And
County
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