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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 FEDERAL BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
SECURITY FEDERAL BANK |
| Address | 1705 WHISKEY ROAD, S. P.O. BOX 810
AIKEN, SC 29802 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 465 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $75,509,000 |
| Average Mortgage Loan Amount Applied For | $174,473 |
| Highest Mortgage Loan Amount Applied For | $765,000 |
| Average Applicant Income | $91,368 |
| Highest Applicant Income | $891,000 |
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| Home Improvement |
30 | $1,808,000 |
$60,000 | $187,000 |
$64,000 | $234,000 |
| Home Purchase |
307 | $55,574,000 |
$181,000 | $750,000 |
$90,000 | $891,000 |
| Refinancing |
128 | $18,127,000 |
$141,000 | $765,000 |
$79,000 | $507,000 |
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| American Indian or Alaskan Native |
1 | $44,000 |
$44,000 | $44,000 |
$26,000 | $26,000 |
| Asian |
4 | $1,172,000 |
$293,000 | $680,000 |
$36,000 | $104,000 |
| Black or African American |
48 | $5,529,000 |
$115,000 | $422,000 |
$51,000 | $154,000 |
| Hispanic |
5 | $886,000 |
$177,000 | $285,000 |
$55,000 | $113,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
12 | $1,196,000 |
$99,000 | $208,000 |
$9,000 | $114,000 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
395 | $66,682,000 |
$168,000 | $765,000 |
$93,000 | $891,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
434 | $71,692,000 |
$165,000 | $765,000 |
$88,000 | $891,000 |
| FHA-insured (Federal Housing Administration) |
22 | $2,081,000 |
$94,000 | $167,000 |
$45,000 | $96,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
9 | $1,736,000 |
$192,000 | $272,000 |
$76,000 | $123,000 |
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| Application Approved But Not Accepted |
3 | $527,000 |
$175,000 | $342,000 |
$96,000 | $139,000 |
| Application Denied By Financial Institution |
24 | $2,995,000 |
$124,000 | $422,000 |
$45,000 | $150,000 |
| Application Withdrawn By Applicant |
33 | $5,723,000 |
$173,000 | $600,000 |
$71,000 | $234,000 |
| File Closed For Incompleteness |
8 | $1,074,000 |
$134,000 | $276,000 |
$54,000 | $85,000 |
| Loan Originated |
395 | $64,927,000 |
$164,000 | $765,000 |
$90,000 | $891,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
1 | $175,000 |
$175,000 | $175,000 |
$76,000 | $76,000 |
| Preapproval Denied by Financial Institution |
1 | $88,000 |
$88,000 | $88,000 |
$16,000 | $16,000 |
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| Collateral |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
13 | $2,165,000 |
$166,000 | $422,000 |
$52,000 | $150,000 |
| Credit History |
5 | $195,000 |
$39,000 | $100,000 |
$44,000 | $80,000 |
| Debt-To-Income Ratio |
5 | $485,000 |
$97,000 | $285,000 |
$32,000 | $63,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $114,000 |
$114,000 | $114,000 |
$13,000 | $13,000 |
| Mortgage Insurance Denied |
1 | $124,000 |
$124,000 | $124,000 |
$25,000 | $25,000 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SECURITY FEDERAL BANK by:
Metropolitan Area And
County
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