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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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SOVEREIGN BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
SOVEREIGN BANK |
| Address | 1130 BERKSHIRE BOULEVARD
WYOMISSING, PA 19610 |
| Agency | Office of Thrift Supervision (OTS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 85,572 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $15,102,816,000 |
| Average Mortgage Loan Amount Applied For | $120,892 |
| Highest Mortgage Loan Amount Applied For | $99,999,000 |
| Average Applicant Income | $28,746 |
| Highest Applicant Income | $7,843,000 |
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| Home Improvement |
10,230 | $638,272,000 |
$62,000 | $3,250,000 |
$82,000 | $7,670,000 |
| Home Purchase |
42,128 | $7,569,024,000 |
$179,000 | $99,999,000 |
$41,000 | $4,000,000 |
| Refinancing |
33,528 | $6,939,528,000 |
$206,000 | $56,000,000 |
$66,000 | $7,843,000 |
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| American Indian or Alaskan Native |
184 | $23,369,000 |
$127,000 | $650,000 |
$85,000 | $713,000 |
| Asian |
2,153 | $413,961,000 |
$192,000 | $3,000,000 |
$82,000 | $2,280,000 |
| Black or African American |
3,583 | $473,197,000 |
$132,000 | $938,000 |
$60,000 | $3,161,000 |
| Hispanic |
4,291 | $625,374,000 |
$145,000 | $1,810,000 |
$57,000 | $1,043,000 |
| Native Hawaiin or Other Pacific Islander |
167 | $32,945,000 |
$197,000 | $1,760,000 |
$92,000 | $1,399,000 |
| Not applicable |
24,602 | $5,298,237,000 |
$215,000 | $99,999,000 |
$0 | $859,000 |
| Not Provided |
4,678 | $809,498,000 |
$173,000 | $14,080,000 |
$85,000 | $7,843,000 |
| White |
46,228 | $7,470,243,000 |
$161,000 | $5,000,000 |
$81,000 | $5,760,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
84,677 | $14,977,225,000 |
$176,000 | $99,999,000 |
$56,000 | $7,843,000 |
| FHA-insured (Federal Housing Administration) |
1,182 | $164,792,000 |
$139,000 | $517,000 |
$49,000 | $412,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
27 | $4,807,000 |
$178,000 | $385,000 |
$61,000 | $111,000 |
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| Application Approved But Not Accepted |
4,717 | $904,249,000 |
$191,000 | $32,000,000 |
$82,000 | $7,670,000 |
| Application Denied By Financial Institution |
8,454 | $1,188,212,000 |
$140,000 | $20,000,000 |
$67,000 | $5,305,000 |
| Application Withdrawn By Applicant |
2,864 | $770,136,000 |
$268,000 | $32,000,000 |
$67,000 | $2,892,000 |
| File Closed For Incompleteness |
38 | $18,121,000 |
$476,000 | $5,080,000 |
$111,000 | $616,000 |
| Loan Originated |
40,195 | $8,128,808,000 |
$202,000 | $99,999,000 |
$81,000 | $7,843,000 |
| Loan Purchased By The Institution |
29,304 | $4,093,290,000 |
$139,000 | $2,000,000 |
$13,000 | $1,241,000 |
| Preapproval Approved but not Accepted |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Denied by Financial Institution |
314 | $44,008,000 |
$140,000 | $608,000 |
$44,000 | $380,000 |
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| Collateral |
1,354 | $339,170,000 |
$250,000 | $20,000,000 |
$78,000 | $700,000 |
| Credit Application Incomplete |
137 | $34,130,000 |
$249,000 | $6,000,000 |
$103,000 | $2,750,000 |
| Credit History |
3,312 | $351,805,000 |
$106,000 | $8,000,000 |
$64,000 | $4,000,000 |
| Debt-To-Income Ratio |
2,245 | $252,906,000 |
$112,000 | $792,000 |
$54,000 | $327,000 |
| Employment History |
100 | $12,649,000 |
$126,000 | $700,000 |
$39,000 | $452,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
40 | $8,331,000 |
$208,000 | $1,173,000 |
$58,000 | $300,000 |
| Mortgage Insurance Denied |
424 | $35,997,000 |
$84,000 | $583,000 |
$86,000 | $5,305,000 |
| Other |
749 | $142,261,000 |
$189,000 | $8,612,000 |
$82,000 | $1,464,000 |
| Unverifiable Information |
407 | $54,971,000 |
$135,000 | $1,800,000 |
$50,000 | $1,184,000 |
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Mortgage Loan App Totals for SOVEREIGN BANK by:
Metropolitan Area And
County
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