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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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SOUTHERN MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOUTHERN MORTGAGE CORPORATION |
| Address | 1266 AVE HOSTOS SUITE 102
PONCE, PR 00717 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2003 |
| All Data Years | 2003 |
| Total Number of Mortgage Loan Applications Processed | 232 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $23,027,000 |
| Average Mortgage Loan Amount Applied For | $100,333 |
| Highest Mortgage Loan Amount Applied For | $400,000 |
| Average Applicant Income | $54,857 |
| Highest Applicant Income | $472,000 |
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| Home Improvement (one-to-four family) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase (one-to-four family) |
177 | $17,671,000 |
$99,000 | $400,000 |
$46,000 | $472,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Refinancing (home purchase or home improvement, one-to-four family) |
55 | $5,356,000 |
$97,000 | $323,000 |
$54,000 | $238,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian or Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
231 | $22,929,000 |
$99,000 | $400,000 |
$49,000 | $472,000 |
| Information not provided by applicant in mail or telephone application |
1 | $98,000 |
$98,000 | $98,000 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
132 | $13,439,000 |
$101,000 | $400,000 |
$58,000 | $472,000 |
| FHA-insured (Federal Housing Administration) |
23 | $2,033,000 |
$88,000 | $110,000 |
$31,000 | $56,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
71 | $6,867,000 |
$96,000 | $139,000 |
$33,000 | $50,000 |
| VA-guaranteed (Veterans Administration) |
6 | $688,000 |
$114,000 | $139,000 |
$43,000 | $61,000 |
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| Application Approved But Not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
12 | $934,000 |
$77,000 | $149,000 |
$34,000 | $62,000 |
| Application Withdrawn By Applicant |
12 | $958,000 |
$79,000 | $125,000 |
$34,000 | $124,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
208 | $21,135,000 |
$101,000 | $400,000 |
$54,000 | $472,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
2 | $218,000 |
$109,000 | $138,000 |
$50,000 | $62,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
5 | $327,000 |
$65,000 | $98,000 |
$13,000 | $41,000 |
| Debt-To-Income Ratio |
1 | $112,000 |
$112,000 | $112,000 |
$27,000 | $27,000 |
| Employment History |
2 | $93,000 |
$46,000 | $50,000 |
$12,000 | $14,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $149,000 |
$149,000 | $149,000 |
$54,000 | $54,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $35,000 |
$35,000 | $35,000 |
$59,000 | $59,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SOUTHERN MORTGAGE CORPORATION by:
Metropolitan Area And
County
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