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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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SECURITY ATLANTIC MORTGAGE CO.
Mortgage Loans and Application Details
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| Mortgage Company Name |
SECURITY ATLANTIC MORTGAGE CO. |
| Address | 629 AMBOY AVENUE, 2ND. FLOOR
EDISON, NJ 08837 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 310 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $66,671,000 |
| Average Mortgage Loan Amount Applied For | $175,513 |
| Highest Mortgage Loan Amount Applied For | $580,000 |
| Average Applicant Income | $74,729 |
| Highest Applicant Income | $586,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
308 | $66,492,000 |
$166,600 | $580,000 |
$60,600 | $586,000 |
| Refinancing |
2 | $179,000 |
$89,500 | $129,000 |
$137,000 | $194,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
2 | $560,000 |
$280,000 | $304,000 |
$90,000 | $97,000 |
| Black or African American |
108 | $21,641,000 |
$161,250 | $580,000 |
$63,000 | $228,000 |
| Hispanic |
32 | $7,686,000 |
$165,000 | $468,000 |
$43,200 | $192,000 |
| Native Hawaiin or Other Pacific Islander |
13 | $3,280,000 |
$245,500 | $357,000 |
$57,500 | $133,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
8 | $1,395,000 |
$121,000 | $283,000 |
$163,500 | $300,000 |
| White |
147 | $32,109,000 |
$196,000 | $560,000 |
$77,750 | $586,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
225 | $47,894,000 |
$161,400 | $580,000 |
$69,800 | $586,000 |
| FHA-insured (Federal Housing Administration) |
85 | $18,777,000 |
$182,500 | $449,000 |
$60,000 | $192,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Application Approved But Not Accepted |
3 | $584,000 |
$194,000 | $332,000 |
$24,000 | $36,000 |
| Application Denied By Financial Institution |
29 | $7,497,000 |
$221,333 | $550,000 |
$68,666 | $192,000 |
| Application Withdrawn By Applicant |
66 | $15,302,000 |
$195,000 | $468,000 |
$85,750 | $586,000 |
| File Closed For Incompleteness |
8 | $2,248,000 |
$245,000 | $580,000 |
$100,000 | $228,000 |
| Loan Originated |
204 | $41,040,000 |
$153,200 | $560,000 |
$60,400 | $300,000 |
| 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 |
5 | $1,879,000 |
$349,000 | $550,000 |
$110,000 | $192,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
7 | $1,473,000 |
$207,666 | $377,000 |
$45,666 | $114,000 |
| Debt-To-Income Ratio |
8 | $1,790,000 |
$248,500 | $360,000 |
$68,000 | $144,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
7 | $1,770,000 |
$183,500 | $449,000 |
$61,000 | $124,000 |
| Unverifiable Information |
2 | $585,000 |
$292,000 | $383,000 |
$101,000 | $132,000 |
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Mortgage Loan App Totals for SECURITY ATLANTIC MORTGAGE CO. by:
Metropolitan Area And
County
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