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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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ROSS MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
ROSS MORTGAGE CORPORATION |
| Address | 27862 WOODWARD AVE.
ROYAL OAK, MI 48067 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,937 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $249,487,000 |
| Average Mortgage Loan Amount Applied For | $120,944 |
| Highest Mortgage Loan Amount Applied For | $946,000 |
| Average Applicant Income | $95,250 |
| Highest Applicant Income | $809,000 |
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| Home Improvement |
203 | $8,694,000 |
$42,000 | $460,000 |
$96,000 | $774,000 |
| Home Purchase |
1,347 | $165,540,000 |
$122,000 | $752,000 |
$63,000 | $809,000 |
| Refinancing |
800 | $122,302,000 |
$152,000 | $946,000 |
$73,000 | $440,000 |
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| American Indian or Alaskan Native |
2 | $222,000 |
$111,000 | $136,000 |
$59,000 | $74,000 |
| Asian |
24 | $4,061,000 |
$169,000 | $752,000 |
$107,000 | $432,000 |
| Black or African American |
253 | $30,048,000 |
$118,000 | $560,000 |
$62,000 | $419,000 |
| Hispanic |
75 | $6,948,000 |
$92,000 | $200,000 |
$49,000 | $180,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1 | $49,000 |
$49,000 | $49,000 |
$24,000 | $24,000 |
| White |
1,995 | $255,208,000 |
$127,000 | $946,000 |
$71,000 | $809,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,657 | $208,865,000 |
$126,000 | $946,000 |
$78,000 | $809,000 |
| FHA-insured (Federal Housing Administration) |
644 | $80,307,000 |
$124,000 | $266,000 |
$50,000 | $440,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
49 | $7,364,000 |
$150,000 | $417,000 |
$53,000 | $122,000 |
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| Application Approved But Not Accepted |
102 | $14,324,000 |
$140,000 | $810,000 |
$81,000 | $440,000 |
| Application Denied By Financial Institution |
119 | $13,131,000 |
$110,000 | $334,000 |
$48,000 | $136,000 |
| Application Withdrawn By Applicant |
516 | $65,755,000 |
$127,000 | $584,000 |
$56,000 | $300,000 |
| File Closed For Incompleteness |
40 | $5,084,000 |
$127,000 | $339,000 |
$59,000 | $188,000 |
| Loan Originated |
1,320 | $163,371,000 |
$123,000 | $946,000 |
$79,000 | $809,000 |
| Loan Purchased By The Institution |
253 | $34,871,000 |
$137,000 | $312,000 |
$58,000 | $260,000 |
| 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 |
12 | $1,727,000 |
$143,000 | $334,000 |
$60,000 | $136,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
63 | $7,184,000 |
$114,000 | $328,000 |
$52,000 | $120,000 |
| Debt-To-Income Ratio |
19 | $1,941,000 |
$102,000 | $222,000 |
$31,000 | $58,000 |
| Employment History |
1 | $48,000 |
$48,000 | $48,000 |
$15,000 | $15,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
8 | $714,000 |
$89,000 | $182,000 |
$49,000 | $65,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
16 | $1,517,000 |
$94,000 | $205,000 |
$44,000 | $88,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for ROSS MORTGAGE CORPORATION by:
Metropolitan Area And
County
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