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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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SOMA FINANCIAL
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOMA FINANCIAL |
| Address | 871 CORONADO
HENDERSON, NV 89052 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2005 |
| All Data Years | 2003 2004 2005 |
| Total Number of Mortgage Loan Applications Processed | 3,174 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $701,462,000 |
| Average Mortgage Loan Amount Applied For | $205,815 |
| Highest Mortgage Loan Amount Applied For | $2,000,000 |
| Average Applicant Income | $109,184 |
| Highest Applicant Income | $5,764,000 |
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| Home Improvement |
1 | $208,000 |
$208,000 | $208,000 |
$59,000 | $59,000 |
| Home Purchase |
1,612 | $322,336,000 |
$207,388 | $2,000,000 |
$142,888 | $1,800,000 |
| Refinancing |
1,561 | $378,918,000 |
$203,555 | $1,722,000 |
$92,055 | $5,764,000 |
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| American Indian or Alaskan Native |
19 | $5,441,000 |
$378,000 | $1,009,000 |
$210,000 | $712,000 |
| Asian |
280 | $67,166,000 |
$179,000 | $976,000 |
$190,714 | $5,764,000 |
| Black or African American |
135 | $29,337,000 |
$187,363 | $790,000 |
$83,636 | $246,000 |
| Hispanic |
644 | $133,432,000 |
$210,909 | $1,532,000 |
$96,727 | $4,998,000 |
| Native Hawaiin or Other Pacific Islander |
87 | $17,920,000 |
$222,250 | $1,722,000 |
$115,750 | $600,000 |
| Not applicable |
47 | $11,579,000 |
$177,333 | $650,000 |
$176,666 | $564,000 |
| Not Provided |
184 | $44,659,000 |
$277,500 | $863,000 |
$121,250 | $664,000 |
| White |
1,778 | $391,928,000 |
$192,421 | $2,000,000 |
$118,894 | $1,800,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
3,162 | $699,335,000 |
$210,095 | $2,000,000 |
$118,095 | $5,764,000 |
| FHA-insured (Federal Housing Administration) |
12 | $2,127,000 |
$187,000 | $238,000 |
$53,500 | $67,000 |
| 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 |
354 | $80,659,000 |
$170,714 | $1,009,000 |
$98,571 | $496,000 |
| Application Denied By Financial Institution |
190 | $46,604,000 |
$205,200 | $2,000,000 |
$167,700 | $1,487,000 |
| Application Withdrawn By Applicant |
141 | $32,862,000 |
$199,800 | $1,532,000 |
$176,200 | $4,998,000 |
| File Closed For Incompleteness |
131 | $29,429,000 |
$175,375 | $1,000,000 |
$180,375 | $1,800,000 |
| Loan Originated |
2,358 | $511,908,000 |
$213,000 | $1,400,000 |
$104,714 | $5,764,000 |
| 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 |
22 | $6,018,000 |
$253,833 | $782,000 |
$129,000 | $219,000 |
| Credit Application Incomplete |
33 | $6,216,000 |
$181,750 | $653,000 |
$93,000 | $300,000 |
| Credit History |
44 | $12,955,000 |
$248,000 | $1,722,000 |
$106,250 | $480,000 |
| Debt-To-Income Ratio |
37 | $6,016,000 |
$136,428 | $528,000 |
$96,000 | $208,000 |
| Employment History |
5 | $882,000 |
$169,333 | $344,000 |
$104,000 | $300,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
34 | $9,558,000 |
$249,000 | $1,408,000 |
$457,500 | $1,487,000 |
| Unverifiable Information |
15 | $4,959,000 |
$666,500 | $2,000,000 |
$400,750 | $1,260,000 |
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Mortgage Loan App Totals for SOMA FINANCIAL by:
Metropolitan Area And
County
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