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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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REDSTONE FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
REDSTONE FEDERAL CREDIT UNION |
| Address | 220 WYNN DRIVE
HUNTSVILLE, AL 35893 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 508 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $61,683,000 |
| Average Mortgage Loan Amount Applied For | $91,600 |
| Highest Mortgage Loan Amount Applied For | $417,000 |
| Average Applicant Income | $46,000 |
| Highest Applicant Income | $286,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
313 | $40,065,000 |
$128,000 | $410,000 |
$69,000 | $240,000 |
| Refinancing |
369 | $38,096,000 |
$103,000 | $417,000 |
$66,000 | $286,000 |
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| American Indian or Alaskan Native |
8 | $979,000 |
$122,000 | $272,000 |
$50,000 | $104,000 |
| Asian |
21 | $3,009,000 |
$143,000 | $238,000 |
$59,000 | $230,000 |
| Black or African American |
68 | $7,840,000 |
$115,000 | $353,000 |
$63,000 | $162,000 |
| Hispanic |
13 | $2,035,000 |
$156,000 | $410,000 |
$94,000 | $240,000 |
| Native Hawaiin or Other Pacific Islander |
3 | $235,000 |
$78,000 | $113,000 |
$60,000 | $105,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
20 | $2,874,000 |
$143,000 | $290,000 |
$75,000 | $166,000 |
| White |
549 | $61,189,000 |
$111,000 | $417,000 |
$68,000 | $286,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
682 | $78,161,000 |
$114,000 | $417,000 |
$67,000 | $286,000 |
| 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 |
4 | $306,000 |
$76,000 | $100,000 |
$112,000 | $286,000 |
| Application Denied By Financial Institution |
126 | $13,157,000 |
$104,000 | $332,000 |
$55,000 | $216,000 |
| Application Withdrawn By Applicant |
83 | $11,119,000 |
$133,000 | $410,000 |
$71,000 | $224,000 |
| File Closed For Incompleteness |
24 | $2,374,000 |
$98,000 | $197,000 |
$88,000 | $230,000 |
| Loan Originated |
445 | $51,205,000 |
$115,000 | $417,000 |
$69,000 | $263,000 |
| 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 |
27 | $3,078,000 |
$114,000 | $332,000 |
$77,000 | $140,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
36 | $3,522,000 |
$97,000 | $205,000 |
$48,000 | $97,000 |
| Debt-To-Income Ratio |
20 | $1,971,000 |
$98,000 | $218,000 |
$26,000 | $104,000 |
| Employment History |
3 | $287,000 |
$95,000 | $137,000 |
$55,000 | $120,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
14 | $1,370,000 |
$97,000 | $180,000 |
$48,000 | $216,000 |
| Mortgage Insurance Denied |
2 | $172,000 |
$86,000 | $120,000 |
$25,000 | $29,000 |
| Other |
18 | $1,895,000 |
$105,000 | $250,000 |
$72,000 | $137,000 |
| Unverifiable Information |
5 | $736,000 |
$147,000 | $220,000 |
$62,000 | $130,000 |
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Mortgage Loan App Totals for REDSTONE FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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