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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 INVESTORS CORP.
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOMERSET INVESTORS CORP. |
| Address | 290 BROADHOLLOW ROAD, SUITE 310E
MELVILLE, NY 11747 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,868 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $486,869,000 |
| Average Mortgage Loan Amount Applied For | $199,737 |
| Highest Mortgage Loan Amount Applied For | $3,000,000 |
| Average Applicant Income | $73,605 |
| Highest Applicant Income | $896,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
111 | $30,674,000 |
$276,000 | $1,254,000 |
$142,000 | $525,000 |
| Refinancing |
1,757 | $456,195,000 |
$259,000 | $3,000,000 |
$80,000 | $896,000 |
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| American Indian or Alaskan Native |
8 | $2,016,000 |
$252,000 | $513,000 |
$74,000 | $186,000 |
| Asian |
45 | $13,882,000 |
$308,000 | $846,000 |
$96,000 | $268,000 |
| Black or African American |
392 | $102,771,000 |
$262,000 | $750,000 |
$73,000 | $252,000 |
| Hispanic |
271 | $67,324,000 |
$248,000 | $753,000 |
$79,000 | $372,000 |
| Native Hawaiin or Other Pacific Islander |
71 | $22,058,000 |
$310,000 | $655,000 |
$87,000 | $302,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
121 | $28,603,000 |
$236,000 | $740,000 |
$81,000 | $454,000 |
| White |
960 | $250,215,000 |
$260,000 | $3,000,000 |
$90,000 | $896,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,773 | $463,921,000 |
$261,000 | $3,000,000 |
$85,000 | $896,000 |
| FHA-insured (Federal Housing Administration) |
95 | $22,948,000 |
$241,000 | $471,000 |
$72,000 | $161,000 |
| 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 |
48 | $13,683,000 |
$285,000 | $588,000 |
$84,000 | $192,000 |
| Application Denied By Financial Institution |
253 | $66,388,000 |
$262,000 | $836,000 |
$80,000 | $274,000 |
| Application Withdrawn By Applicant |
485 | $123,662,000 |
$254,000 | $1,800,000 |
$83,000 | $896,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
1,082 | $283,136,000 |
$261,000 | $3,000,000 |
$86,000 | $750,000 |
| 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 |
96 | $24,120,000 |
$251,000 | $836,000 |
$77,000 | $253,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
48 | $11,421,000 |
$237,000 | $565,000 |
$75,000 | $186,000 |
| Debt-To-Income Ratio |
17 | $5,006,000 |
$294,000 | $760,000 |
$98,000 | $274,000 |
| Employment History |
10 | $2,510,000 |
$251,000 | $400,000 |
$76,000 | $192,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
26 | $7,158,000 |
$275,000 | $528,000 |
$72,000 | $182,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
52 | $14,963,000 |
$287,000 | $749,000 |
$91,000 | $270,000 |
| Unverifiable Information |
3 | $1,148,000 |
$382,000 | $608,000 |
$72,000 | $157,000 |
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Mortgage Loan App Totals for SOMERSET INVESTORS CORP. by:
Metropolitan Area And
County
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