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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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SPECTRUM FINANCIAL GROUP, INC.
Mortgage Loans and Application Details
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| Mortgage Company Name |
SPECTRUM FINANCIAL GROUP, INC. |
| Address | 7047 EAST GREENWAY PARKWAY, SUITE 400
SCOTTSDALE, AZ 85254 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 5,238 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $1,039,081,000 |
| Average Mortgage Loan Amount Applied For | $247,938 |
| Highest Mortgage Loan Amount Applied For | $4,000,000 |
| Average Applicant Income | $146,000 |
| Highest Applicant Income | $3,000,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
3,868 | $692,880,000 |
$179,000 | $2,000,000 |
$103,000 | $3,000,000 |
| Refinancing |
1,412 | $351,484,000 |
$248,000 | $4,000,000 |
$117,000 | $2,640,000 |
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| American Indian or Alaskan Native |
8 | $4,252,000 |
$531,000 | $2,450,000 |
$317,000 | $1,080,000 |
| Asian |
458 | $107,076,000 |
$233,000 | $1,500,000 |
$116,000 | $840,000 |
| Black or African American |
301 | $65,190,000 |
$216,000 | $2,000,000 |
$108,000 | $720,000 |
| Hispanic |
1,279 | $196,656,000 |
$153,000 | $1,050,000 |
$77,000 | $2,640,000 |
| Native Hawaiin or Other Pacific Islander |
57 | $10,999,000 |
$192,000 | $735,000 |
$93,000 | $270,000 |
| Not applicable |
200 | $36,611,000 |
$183,000 | $2,400,000 |
$40,000 | $384,000 |
| Not Provided |
328 | $58,247,000 |
$177,000 | $1,125,000 |
$91,000 | $3,000,000 |
| White |
2,649 | $565,333,000 |
$213,000 | $4,000,000 |
$126,000 | $1,020,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
5,280 | $1,044,364,000 |
$197,000 | $4,000,000 |
$107,000 | $3,000,000 |
| 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 |
710 | $138,994,000 |
$195,000 | $1,500,000 |
$110,000 | $3,000,000 |
| Application Denied By Financial Institution |
651 | $133,915,000 |
$205,000 | $2,170,000 |
$126,000 | $1,020,000 |
| Application Withdrawn By Applicant |
410 | $86,171,000 |
$210,000 | $2,450,000 |
$66,000 | $1,080,000 |
| File Closed For Incompleteness |
531 | $99,636,000 |
$187,000 | $1,406,000 |
$113,000 | $2,640,000 |
| Loan Originated |
2,977 | $585,546,000 |
$196,000 | $4,000,000 |
$107,000 | $1,380,000 |
| Loan Purchased By The Institution |
1 | $102,000 |
$102,000 | $102,000 |
$294,000 | $294,000 |
| 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 |
66 | $9,261,000 |
$140,000 | $646,000 |
$186,000 | $480,000 |
| Credit Application Incomplete |
23 | $4,138,000 |
$179,000 | $1,200,000 |
$151,000 | $875,000 |
| Credit History |
119 | $27,112,000 |
$227,000 | $2,170,000 |
$130,000 | $1,020,000 |
| Debt-To-Income Ratio |
23 | $4,422,000 |
$192,000 | $647,000 |
$122,000 | $444,000 |
| Employment History |
7 | $1,544,000 |
$220,000 | $416,000 |
$95,000 | $126,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
4 | $383,000 |
$95,000 | $168,000 |
$30,000 | $75,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
117 | $21,549,000 |
$184,000 | $1,049,000 |
$100,000 | $516,000 |
| Unverifiable Information |
94 | $19,686,000 |
$209,000 | $1,080,000 |
$113,000 | $592,000 |
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Mortgage Loan App Totals for SPECTRUM FINANCIAL GROUP, INC. by:
Metropolitan Area And
County
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