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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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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 | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 3,923 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $552,458,000 |
| Average Mortgage Loan Amount Applied For | $124,839 |
| Highest Mortgage Loan Amount Applied For | $1,511,000 |
| Average Applicant Income | $64,889 |
| Highest Applicant Income | $2,060,000 |
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| Home Improvement |
2 | $535,000 |
$267,000 | $411,000 |
$185,000 | $312,000 |
| Home Purchase |
1,300 | $180,672,000 |
$138,000 | $1,000,000 |
$97,000 | $2,060,000 |
| Refinancing |
2,621 | $371,251,000 |
$141,000 | $1,511,000 |
$68,000 | $712,000 |
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| American Indian or Alaskan Native |
9 | $907,000 |
$100,000 | $311,000 |
$58,000 | $107,000 |
| Asian |
81 | $11,344,000 |
$140,000 | $437,000 |
$93,000 | $282,000 |
| Black or African American |
582 | $73,742,000 |
$126,000 | $528,000 |
$63,000 | $347,000 |
| Hispanic |
332 | $49,039,000 |
$147,000 | $784,000 |
$75,000 | $712,000 |
| Native Hawaiin or Other Pacific Islander |
26 | $4,140,000 |
$159,000 | $731,000 |
$82,000 | $260,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
621 | $80,008,000 |
$128,000 | $935,000 |
$65,000 | $780,000 |
| White |
2,272 | $333,278,000 |
$146,000 | $1,511,000 |
$85,000 | $2,060,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,811 | $393,150,000 |
$139,000 | $1,511,000 |
$87,000 | $2,060,000 |
| FHA-insured (Federal Housing Administration) |
1,110 | $158,989,000 |
$143,000 | $375,000 |
$55,000 | $260,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
2 | $319,000 |
$159,000 | $169,000 |
$57,000 | $62,000 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
393 | $45,824,000 |
$116,000 | $731,000 |
$66,000 | $712,000 |
| Application Withdrawn By Applicant |
688 | $96,121,000 |
$139,000 | $1,000,000 |
$64,000 | $560,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
2,842 | $410,513,000 |
$144,000 | $1,511,000 |
$83,000 | $2,060,000 |
| 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 |
249 | $27,274,000 |
$109,000 | $557,000 |
$62,000 | $712,000 |
| Credit Application Incomplete |
3 | $427,000 |
$142,000 | $216,000 |
$53,000 | $91,000 |
| Credit History |
36 | $3,901,000 |
$108,000 | $300,000 |
$90,000 | $300,000 |
| Debt-To-Income Ratio |
30 | $3,782,000 |
$126,000 | $375,000 |
$62,000 | $130,000 |
| Employment History |
6 | $681,000 |
$113,000 | $200,000 |
$55,000 | $84,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $683,000 |
$170,000 | $340,000 |
$94,000 | $132,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
58 | $8,373,000 |
$144,000 | $731,000 |
$73,000 | $347,000 |
| Unverifiable Information |
7 | $703,000 |
$100,000 | $270,000 |
$57,000 | $156,000 |
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Mortgage Loan App Totals for RESIDENTIAL LOAN CENTERS by:
Metropolitan Area And
County
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