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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 TRUST COMPANY
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOMERSET TRUST COMPANY |
| Address | 151 W MAIN STREET
SOMERSET, PA 15501 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 531 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $32,611,000 |
| Average Mortgage Loan Amount Applied For | $142,785 |
| Highest Mortgage Loan Amount Applied For | $1,083,000 |
| Average Applicant Income | $66,000 |
| Highest Applicant Income | $677,000 |
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| Home Improvement |
192 | $4,638,000 |
$24,000 | $250,000 |
$47,000 | $183,000 |
| Home Purchase |
198 | $18,646,000 |
$94,000 | $560,000 |
$71,000 | $677,000 |
| Refinancing |
142 | $9,342,000 |
$65,000 | $1,083,000 |
$49,000 | $182,000 |
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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 |
1 | $15,000 |
$15,000 | $15,000 |
$19,000 | $19,000 |
| Hispanic |
3 | $184,000 |
$61,000 | $100,000 |
$45,000 | $56,000 |
| Native Hawaiin or Other Pacific Islander |
2 | $200,000 |
$100,000 | $160,000 |
$218,000 | $218,000 |
| Not applicable |
11 | $3,345,000 |
$304,000 | $1,083,000 |
$3,000 | $40,000 |
| Not Provided |
7 | $379,000 |
$54,000 | $200,000 |
$56,000 | $144,000 |
| White |
508 | $28,503,000 |
$56,000 | $544,000 |
$57,000 | $677,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
532 | $32,626,000 |
$61,000 | $1,083,000 |
$56,000 | $677,000 |
| 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 |
9 | $599,000 |
$66,000 | $200,000 |
$50,000 | $76,000 |
| Application Denied By Financial Institution |
79 | $3,807,000 |
$48,000 | $328,000 |
$34,000 | $91,000 |
| Application Withdrawn By Applicant |
54 | $3,746,000 |
$69,000 | $360,000 |
$49,000 | $228,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
390 | $24,474,000 |
$62,000 | $1,083,000 |
$62,000 | $677,000 |
| 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 |
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 |
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 TRUST COMPANY by:
Metropolitan Area And
County
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