| $3,446,236,491 in Mortgage Loans Applied for in 2008 from 17,391,570 Applications |
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REFINANCE.COM
Mortgage Loans and Application Details
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| Mortgage Company Name |
REFINANCE.COM |
| Address | 60 OAK DRIVE
SYOSSET, NY 11791 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2007 |
| Data Years (click a year for detail) | 2003 2004 2006 2007 |
| Total Number of Mortgage Loan Applications Processed | 4,100 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $1,114,500,000 |
| Average Mortgage Loan Amount Applied For | $218,027 |
| Highest Mortgage Loan Amount Applied For | $1,800,000 |
| Average Applicant Income | $75,862 |
| Highest Applicant Income | $1,000,000 |
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| Home Improvement |
6 | $1,647,000 |
$274,000 | $372,000 |
$78,000 | $111,000 |
| Home Purchase |
71 | $22,051,000 |
$310,000 | $876,000 |
$113,000 | $951,000 |
| Refinancing |
4,023 | $1,090,802,000 |
$271,000 | $1,800,000 |
$87,000 | $1,000,000 |
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| American Indian or Alaskan Native |
29 | $7,817,000 |
$269,000 | $592,000 |
$69,000 | $120,000 |
| Asian |
43 | $14,167,000 |
$329,000 | $786,000 |
$107,000 | $300,000 |
| Black or African American |
581 | $148,669,000 |
$255,000 | $825,000 |
$79,000 | $500,000 |
| Hispanic |
404 | $115,623,000 |
$286,000 | $901,000 |
$83,000 | $377,000 |
| Native Hawaiin or Other Pacific Islander |
8 | $2,067,000 |
$258,000 | $610,000 |
$112,000 | $200,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
264 | $80,265,000 |
$304,000 | $1,000,000 |
$95,000 | $306,000 |
| White |
2,771 | $745,892,000 |
$269,000 | $1,800,000 |
$90,000 | $1,000,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
3,196 | $914,433,000 |
$286,000 | $1,800,000 |
$93,000 | $1,000,000 |
| FHA-insured (Federal Housing Administration) |
902 | $199,734,000 |
$221,000 | $350,000 |
$69,000 | $355,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
2 | $333,000 |
$166,000 | $276,000 |
$64,000 | $102,000 |
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| Application Approved But Not Accepted |
334 | $94,019,000 |
$281,000 | $1,750,000 |
$90,000 | $720,000 |
| Application Denied By Financial Institution |
569 | $155,139,000 |
$272,000 | $1,800,000 |
$84,000 | $1,000,000 |
| Application Withdrawn By Applicant |
1,298 | $361,205,000 |
$278,000 | $1,463,000 |
$96,000 | $850,000 |
| File Closed For Incompleteness |
1 | $43,000 |
$43,000 | $43,000 |
$29,000 | $29,000 |
| Loan Originated |
1,898 | $504,094,000 |
$265,000 | $1,087,000 |
$83,000 | $576,000 |
| 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 |
227 | $63,559,000 |
$279,000 | $990,000 |
$91,000 | $360,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
92 | $24,417,000 |
$265,000 | $1,103,000 |
$83,000 | $330,000 |
| Debt-To-Income Ratio |
62 | $16,890,000 |
$272,000 | $1,800,000 |
$69,000 | $1,000,000 |
| Employment History |
7 | $1,985,000 |
$283,000 | $380,000 |
$69,000 | $113,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
15 | $4,075,000 |
$271,000 | $533,000 |
$85,000 | $160,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
111 | $30,353,000 |
$273,000 | $960,000 |
$81,000 | $951,000 |
| Unverifiable Information |
4 | $1,224,000 |
$306,000 | $475,000 |
$100,000 | $228,000 |
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Mortgage Loan Application Totals for REFINANCE.COM by:
Metropolitan Area And
County
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