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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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SHORE MORTGAGE
Mortgage Loans and Application Details
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| Mortgage Company Name |
SHORE MORTGAGE |
| Address | 770 S. ADAMS, #300
BIRMINGHAM, MI 48009 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 4,826 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $575,816,000 |
| Average Mortgage Loan Amount Applied For | $113,755 |
| Highest Mortgage Loan Amount Applied For | $910,000 |
| Average Applicant Income | $44,713 |
| Highest Applicant Income | $635,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
3,769 | $431,234,000 |
$114,000 | $680,000 |
$50,000 | $635,000 |
| Refinancing |
2,521 | $318,068,000 |
$126,000 | $910,000 |
$46,000 | $411,000 |
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| American Indian or Alaskan Native |
10 | $1,513,000 |
$151,000 | $338,000 |
$49,000 | $130,000 |
| Asian |
54 | $7,585,000 |
$140,000 | $336,000 |
$54,000 | $105,000 |
| Black or African American |
1,603 | $179,611,000 |
$112,000 | $588,000 |
$47,000 | $247,000 |
| Hispanic |
293 | $30,167,000 |
$102,000 | $315,000 |
$38,000 | $120,000 |
| Native Hawaiin or Other Pacific Islander |
11 | $1,798,000 |
$163,000 | $278,000 |
$41,000 | $81,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
130 | $16,468,000 |
$126,000 | $450,000 |
$45,000 | $168,000 |
| White |
4,189 | $512,160,000 |
$122,000 | $910,000 |
$50,000 | $635,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,557 | $317,622,000 |
$124,000 | $910,000 |
$58,000 | $635,000 |
| FHA-insured (Federal Housing Administration) |
3,637 | $417,546,000 |
$114,000 | $337,000 |
$41,000 | $307,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
96 | $14,134,000 |
$147,000 | $325,000 |
$49,000 | $154,000 |
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| Application Approved But Not Accepted |
430 | $49,726,000 |
$115,000 | $580,000 |
$46,000 | $635,000 |
| Application Denied By Financial Institution |
276 | $34,066,000 |
$123,000 | $910,000 |
$43,000 | $169,000 |
| Application Withdrawn By Applicant |
2,738 | $329,339,000 |
$120,000 | $784,000 |
$47,000 | $493,000 |
| File Closed For Incompleteness |
3 | $419,000 |
$139,000 | $248,000 |
$55,000 | $90,000 |
| Loan Originated |
2,744 | $324,769,000 |
$118,000 | $680,000 |
$50,000 | $500,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
45 | $5,560,000 |
$123,000 | $197,000 |
$48,000 | $86,000 |
| Preapproval Denied by Financial Institution |
54 | $5,423,000 |
$100,000 | $203,000 |
$43,000 | $123,000 |
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| Collateral |
16 | $2,734,000 |
$170,000 | $910,000 |
$61,000 | $169,000 |
| Credit Application Incomplete |
1 | $228,000 |
$228,000 | $228,000 |
$102,000 | $102,000 |
| Credit History |
47 | $5,157,000 |
$109,000 | $203,000 |
$48,000 | $151,000 |
| Debt-To-Income Ratio |
22 | $2,411,000 |
$109,000 | $200,000 |
$35,000 | $61,000 |
| Employment History |
4 | $444,000 |
$111,000 | $145,000 |
$53,000 | $62,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $479,000 |
$159,000 | $301,000 |
$45,000 | $63,000 |
| Mortgage Insurance Denied |
1 | $90,000 |
$90,000 | $90,000 |
$38,000 | $38,000 |
| Other |
42 | $4,508,000 |
$107,000 | $199,000 |
$37,000 | $123,000 |
| Unverifiable Information |
3 | $276,000 |
$92,000 | $148,000 |
$66,000 | $102,000 |
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Mortgage Loan App Totals for SHORE MORTGAGE by:
Metropolitan Area And
County
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