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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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SOLUTIONS FUNDING, INC.
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOLUTIONS FUNDING, INC. |
| Address | 333 PIERCE PLACE, SUITE 410
ITASCA, IL 60143 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2006 |
| Total Number of Mortgage Loan Applications Processed | 2,820 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $567,858,000 |
| Average Mortgage Loan Amount Applied For | $190,470 |
| Highest Mortgage Loan Amount Applied For | $1,680,000 |
| Average Applicant Income | $66,695 |
| Highest Applicant Income | $2,019,000 |
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| Home Improvement |
2 | $341,000 |
$170,000 | $232,000 |
$62,000 | $73,000 |
| Home Purchase |
1,502 | $265,217,000 |
$176,000 | $1,201,000 |
$67,000 | $1,204,000 |
| Refinancing |
1,316 | $302,300,000 |
$229,000 | $1,680,000 |
$74,000 | $2,019,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
74 | $16,656,000 |
$225,000 | $952,000 |
$72,000 | $600,000 |
| Black or African American |
414 | $71,305,000 |
$172,000 | $1,201,000 |
$62,000 | $410,000 |
| Hispanic |
657 | $116,493,000 |
$177,000 | $960,000 |
$61,000 | $1,204,000 |
| Native Hawaiin or Other Pacific Islander |
54 | $8,827,000 |
$163,000 | $720,000 |
$66,000 | $251,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
322 | $64,818,000 |
$201,000 | $1,610,000 |
$67,000 | $650,000 |
| White |
1,299 | $289,759,000 |
$223,000 | $1,680,000 |
$79,000 | $2,019,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,621 | $535,043,000 |
$204,000 | $1,680,000 |
$72,000 | $2,019,000 |
| FHA-insured (Federal Housing Administration) |
175 | $29,098,000 |
$166,000 | $438,000 |
$45,000 | $187,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
24 | $3,717,000 |
$154,000 | $321,000 |
$49,000 | $152,000 |
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| Application Approved But Not Accepted |
350 | $66,924,000 |
$191,000 | $995,000 |
$69,000 | $624,000 |
| Application Denied By Financial Institution |
451 | $91,453,000 |
$202,000 | $1,680,000 |
$75,000 | $1,204,000 |
| Application Withdrawn By Applicant |
181 | $40,640,000 |
$224,000 | $1,330,000 |
$77,000 | $1,992,000 |
| File Closed For Incompleteness |
164 | $35,086,000 |
$213,000 | $1,120,000 |
$75,000 | $777,000 |
| Loan Originated |
1,597 | $323,418,000 |
$202,000 | $1,342,000 |
$70,000 | $2,019,000 |
| Loan Purchased By The Institution |
77 | $10,337,000 |
$134,000 | $492,000 |
$40,000 | $368,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Debt-To-Income Ratio |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Employment History |
2 | $134,000 |
$67,000 | $107,000 |
$47,000 | $47,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $269,000 |
$134,000 | $226,000 |
$44,000 | $89,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
2 | $744,000 |
$372,000 | $459,000 |
$40,000 | $81,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SOLUTIONS FUNDING, INC. by:
Metropolitan Area And
County
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