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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 CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SECURITY FEDERAL CREDIT UNION |
| Address | 3801 W BOULEVARD DR PO BOX 5160
FLINT, MI 48505 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 281 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $11,426,000 |
| Average Mortgage Loan Amount Applied For | $45,809 |
| Highest Mortgage Loan Amount Applied For | $228,000 |
| Average Applicant Income | $57,523 |
| Highest Applicant Income | $167,000 |
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| Home Improvement |
177 | $3,044,000 |
$17,000 | $163,000 |
$42,000 | $122,000 |
| Home Purchase |
31 | $2,230,000 |
$71,000 | $226,000 |
$45,000 | $95,000 |
| Refinancing |
73 | $6,152,000 |
$84,000 | $228,000 |
$54,000 | $167,000 |
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| American Indian or Alaskan Native |
1 | $106,000 |
$106,000 | $106,000 |
$73,000 | $73,000 |
| Asian |
3 | $154,000 |
$51,000 | $99,000 |
$37,000 | $47,000 |
| Black or African American |
67 | $1,865,000 |
$27,000 | $226,000 |
$41,000 | $115,000 |
| Hispanic |
4 | $50,000 |
$12,000 | $21,000 |
$25,000 | $35,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
35 | $1,690,000 |
$48,000 | $228,000 |
$43,000 | $95,000 |
| White |
171 | $7,561,000 |
$44,000 | $206,000 |
$48,000 | $167,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
281 | $11,426,000 |
$40,000 | $228,000 |
$45,000 | $167,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
1 | $59,000 |
$59,000 | $59,000 |
$25,000 | $25,000 |
| Application Denied By Financial Institution |
56 | $2,398,000 |
$42,000 | $169,000 |
$38,000 | $95,000 |
| Application Withdrawn By Applicant |
3 | $230,000 |
$76,000 | $132,000 |
$37,000 | $46,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
221 | $8,739,000 |
$39,000 | $228,000 |
$47,000 | $167,000 |
| 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 |
13 | $401,000 |
$30,000 | $107,000 |
$44,000 | $89,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
24 | $965,000 |
$40,000 | $119,000 |
$34,000 | $82,000 |
| Debt-To-Income Ratio |
15 | $923,000 |
$61,000 | $169,000 |
$40,000 | $95,000 |
| Employment History |
2 | $19,000 |
$9,000 | $10,000 |
$51,000 | $61,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
1 | $65,000 |
$65,000 | $65,000 |
$44,000 | $44,000 |
| Other |
1 | $25,000 |
$25,000 | $25,000 |
$14,000 | $14,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SECURITY FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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