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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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SCHMIDT MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SCHMIDT MORTGAGE CORPORATION |
| Address | 11121 CARMEL COMMONS BLVD STE 170
CHARLOTTE, NC 28226 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 926 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $134,631,000 |
| Average Mortgage Loan Amount Applied For | $150,462 |
| Highest Mortgage Loan Amount Applied For | $960,000 |
| Average Applicant Income | $76,505 |
| Highest Applicant Income | $1,800,000 |
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| Home Improvement |
2 | $338,000 |
$169,000 | $238,000 |
$70,000 | $106,000 |
| Home Purchase |
1,102 | $151,821,000 |
$137,000 | $960,000 |
$73,000 | $1,800,000 |
| Refinancing |
174 | $28,134,000 |
$161,000 | $703,000 |
$82,000 | $433,000 |
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| American Indian or Alaskan Native |
6 | $625,000 |
$104,000 | $166,000 |
$79,000 | $132,000 |
| Asian |
27 | $3,335,000 |
$123,000 | $346,000 |
$90,000 | $300,000 |
| Black or African American |
233 | $29,200,000 |
$125,000 | $329,000 |
$49,000 | $324,000 |
| Hispanic |
67 | $8,712,000 |
$130,000 | $230,000 |
$81,000 | $360,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $191,000 |
$191,000 | $191,000 |
$39,000 | $39,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
67 | $8,735,000 |
$130,000 | $750,000 |
$79,000 | $360,000 |
| White |
877 | $129,495,000 |
$147,000 | $960,000 |
$79,000 | $1,800,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,105 | $158,082,000 |
$143,000 | $960,000 |
$78,000 | $1,800,000 |
| FHA-insured (Federal Housing Administration) |
165 | $21,096,000 |
$127,000 | $250,000 |
$49,000 | $360,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
2 | $187,000 |
$93,000 | $102,000 |
$53,000 | $77,000 |
| VA-guaranteed (Veterans Administration) |
6 | $928,000 |
$154,000 | $196,000 |
$42,000 | $68,000 |
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| Application Approved But Not Accepted |
24 | $3,016,000 |
$125,000 | $417,000 |
$55,000 | $108,000 |
| Application Denied By Financial Institution |
150 | $19,109,000 |
$127,000 | $950,000 |
$70,000 | $1,800,000 |
| Application Withdrawn By Applicant |
328 | $46,693,000 |
$142,000 | $750,000 |
$82,000 | $851,000 |
| File Closed For Incompleteness |
3 | $340,000 |
$113,000 | $137,000 |
$49,000 | $85,000 |
| Loan Originated |
421 | $65,473,000 |
$155,000 | $960,000 |
$91,000 | $636,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
303 | $39,333,000 |
$129,000 | $500,000 |
$51,000 | $360,000 |
| Preapproval Denied by Financial Institution |
49 | $6,329,000 |
$129,000 | $460,000 |
$51,000 | $360,000 |
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| Collateral |
3 | $436,000 |
$145,000 | $170,000 |
$43,000 | $60,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
116 | $14,298,000 |
$123,000 | $435,000 |
$55,000 | $360,000 |
| Debt-To-Income Ratio |
4 | $1,314,000 |
$328,000 | $950,000 |
$254,000 | $900,000 |
| Employment History |
1 | $183,000 |
$183,000 | $183,000 |
$72,000 | $72,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
7 | $390,000 |
$55,000 | $88,000 |
$106,000 | $146,000 |
| Unverifiable Information |
3 | $260,000 |
$86,000 | $120,000 |
$82,000 | $120,000 |
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Mortgage Loan App Totals for SCHMIDT MORTGAGE CORPORATION by:
Metropolitan Area And
County
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