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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 SAVINGS BANK, SLA
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOMERSET SAVINGS BANK, SLA |
| Address | 2121 ROUTE 22 WEST
BOUND BROOK,, NJ 08805 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 234 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $74,645,000 |
| Average Mortgage Loan Amount Applied For | $323,066 |
| Highest Mortgage Loan Amount Applied For | $750,000 |
| Average Applicant Income | $228,466 |
| Highest Applicant Income | $1,672,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
133 | $45,364,000 |
$341,000 | $680,000 |
$187,000 | $1,672,000 |
| Refinancing |
101 | $29,281,000 |
$289,000 | $750,000 |
$184,000 | $936,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
67 | $22,651,000 |
$338,000 | $600,000 |
$161,000 | $338,000 |
| Black or African American |
1 | $333,000 |
$333,000 | $333,000 |
$1,230,000 | $1,230,000 |
| Hispanic |
3 | $709,000 |
$236,000 | $436,000 |
$140,000 | $261,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1 | $185,000 |
$185,000 | $185,000 |
$71,000 | $71,000 |
| White |
162 | $50,767,000 |
$313,000 | $750,000 |
$191,000 | $1,672,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
234 | $74,645,000 |
$318,000 | $750,000 |
$186,000 | $1,672,000 |
| 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 |
1 | $120,000 |
$120,000 | $120,000 |
$109,000 | $109,000 |
| Application Denied By Financial Institution |
15 | $5,455,000 |
$363,000 | $650,000 |
$249,000 | $1,230,000 |
| Application Withdrawn By Applicant |
13 | $4,334,000 |
$333,000 | $505,000 |
$155,000 | $269,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
205 | $64,736,000 |
$315,000 | $750,000 |
$183,000 | $1,672,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit Application Incomplete |
3 | $1,402,000 |
$467,000 | $570,000 |
$202,000 | $228,000 |
| Credit History |
4 | $1,461,000 |
$365,000 | $650,000 |
$527,000 | $1,230,000 |
| Debt-To-Income Ratio |
7 | $2,022,000 |
$288,000 | $400,000 |
$123,000 | $198,000 |
| 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 |
1 | $570,000 |
$570,000 | $570,000 |
$159,000 | $159,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SOMERSET SAVINGS BANK, SLA by:
Metropolitan Area And
County
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