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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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SOMERSET FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOMERSET FEDERAL CREDIT UNION |
| Address | 740 COUNTY ST
SOMERSET, MA 02726-4205 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 249 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $31,225,000 |
| Average Mortgage Loan Amount Applied For | $125,000 |
| Highest Mortgage Loan Amount Applied For | $500,000 |
| Average Applicant Income | $76,000 |
| Highest Applicant Income | $388,000 |
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| Home Improvement |
27 | $2,828,000 |
$104,000 | $277,000 |
$77,000 | $226,000 |
| Home Purchase |
31 | $6,715,000 |
$216,000 | $405,000 |
$89,000 | $175,000 |
| Refinancing |
191 | $21,682,000 |
$113,000 | $500,000 |
$73,000 | $388,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
1 | $212,000 |
$212,000 | $212,000 |
$52,000 | $52,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
248 | $31,013,000 |
$125,000 | $500,000 |
$76,000 | $388,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
249 | $31,225,000 |
$125,000 | $500,000 |
$76,000 | $388,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
11 | $1,767,000 |
$160,000 | $299,000 |
$58,000 | $95,000 |
| Application Withdrawn By Applicant |
11 | $1,522,000 |
$138,000 | $260,000 |
$60,000 | $88,000 |
| File Closed For Incompleteness |
2 | $377,000 |
$188,000 | $327,000 |
$73,000 | $117,000 |
| Loan Originated |
225 | $27,559,000 |
$122,000 | $500,000 |
$77,000 | $388,000 |
| 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 |
4 | $604,000 |
$151,000 | $277,000 |
$79,000 | $95,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
5 | $844,000 |
$168,000 | $299,000 |
$56,000 | $83,000 |
| Debt-To-Income Ratio |
2 | $319,000 |
$159,000 | $279,000 |
$19,000 | $22,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SOMERSET FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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