| $3,446,236,491 in Mortgage Loans Applied for in 2008 from 17,391,570 Applications |
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RESIDENTIAL LOAN CENTERS
Mortgage Loans and Application Details
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| Mortgage Company Name |
RESIDENTIAL LOAN CENTERS |
| Address | 2350 E. DEVON AVENUE SUITE 300
DES PLAINES, IL 60018 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2007 |
| Data Years (click a year for detail) | 2003 2004 2005 2006 2007 |
| Total Number of Mortgage Loan Applications Processed | 4,017 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $677,980,000 |
| Average Mortgage Loan Amount Applied For | $151,904 |
| Highest Mortgage Loan Amount Applied For | $2,850,000 |
| Average Applicant Income | $72,878 |
| Highest Applicant Income | $3,000,000 |
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| Home Improvement |
2 | $501,000 |
$250,000 | $290,000 |
$55,000 | $66,000 |
| Home Purchase |
1,554 | $258,256,000 |
$166,000 | $2,850,000 |
$84,000 | $1,860,000 |
| Refinancing |
2,461 | $419,223,000 |
$170,000 | $2,665,000 |
$77,000 | $3,000,000 |
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| American Indian or Alaskan Native |
20 | $2,808,000 |
$140,000 | $417,000 |
$121,000 | $620,000 |
| Asian |
68 | $11,430,000 |
$168,000 | $439,000 |
$85,000 | $282,000 |
| Black or African American |
726 | $101,867,000 |
$140,000 | $871,000 |
$59,000 | $332,000 |
| Hispanic |
275 | $45,420,000 |
$165,000 | $504,000 |
$71,000 | $1,200,000 |
| Native Hawaiin or Other Pacific Islander |
11 | $2,251,000 |
$204,000 | $356,000 |
$58,000 | $86,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
580 | $86,465,000 |
$149,000 | $952,000 |
$65,000 | $696,000 |
| White |
2,337 | $427,739,000 |
$183,000 | $2,850,000 |
$90,000 | $3,000,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,798 | $362,855,000 |
$201,000 | $2,850,000 |
$109,000 | $3,000,000 |
| FHA-insured (Federal Housing Administration) |
2,204 | $312,029,000 |
$141,000 | $358,000 |
$55,000 | $1,200,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
15 | $3,096,000 |
$206,000 | $329,000 |
$77,000 | $139,000 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
254 | $43,071,000 |
$169,000 | $2,520,000 |
$77,000 | $1,133,000 |
| Application Withdrawn By Applicant |
883 | $140,272,000 |
$158,000 | $2,665,000 |
$68,000 | $3,000,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
2,880 | $494,637,000 |
$171,000 | $2,850,000 |
$83,000 | $1,860,000 |
| 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 |
141 | $24,028,000 |
$170,000 | $2,520,000 |
$79,000 | $1,133,000 |
| Credit Application Incomplete |
1 | $42,000 |
$42,000 | $42,000 |
$49,000 | $49,000 |
| Credit History |
37 | $6,365,000 |
$172,000 | $650,000 |
$60,000 | $160,000 |
| Debt-To-Income Ratio |
25 | $5,319,000 |
$212,000 | $2,000,000 |
$127,000 | $960,000 |
| Employment History |
4 | $667,000 |
$166,000 | $308,000 |
$63,000 | $92,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $642,000 |
$214,000 | $309,000 |
$54,000 | $63,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
29 | $3,887,000 |
$134,000 | $325,000 |
$70,000 | $408,000 |
| Unverifiable Information |
7 | $1,022,000 |
$146,000 | $355,000 |
$42,000 | $90,000 |
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Mortgage Loan Application Totals for RESIDENTIAL LOAN CENTERS by:
Metropolitan Area And
County
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