|
|
| $6,295,214,383,000 in Mortgage Loans Applied for in 2006 from 34,105,441 Applications |
|
|
|
|
|
|
SPECTRUM FUNDING CORPORATION
Mortgage Loans and Application Details
|
|
|
|
| Mortgage Company Name |
SPECTRUM FUNDING CORPORATION |
| Address | 7084 SOUTH 2300 EAST
SLC, UT 84121 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 3,396 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $549,371,000 |
| Average Mortgage Loan Amount Applied For | $155,164 |
| Highest Mortgage Loan Amount Applied For | $1,080,000 |
| Average Applicant Income | $72,402 |
| Highest Applicant Income | $1,716,000 |
|
|
|
| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
2,462 | $368,495,000 |
$149,000 | $1,050,000 |
$80,000 | $1,716,000 |
| Refinancing |
938 | $181,291,000 |
$193,000 | $1,080,000 |
$75,000 | $1,080,000 |
|
|
| American Indian or Alaskan Native |
7 | $815,000 |
$116,000 | $225,000 |
$55,000 | $89,000 |
| Asian |
47 | $10,814,000 |
$230,000 | $510,000 |
$107,000 | $481,000 |
| Black or African American |
149 | $24,803,000 |
$166,000 | $719,000 |
$77,000 | $289,000 |
| Hispanic |
978 | $139,028,000 |
$142,000 | $872,000 |
$66,000 | $600,000 |
| Native Hawaiin or Other Pacific Islander |
21 | $4,396,000 |
$209,000 | $707,000 |
$98,000 | $244,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1,212 | $217,527,000 |
$179,000 | $1,080,000 |
$84,000 | $1,716,000 |
| White |
986 | $152,403,000 |
$154,000 | $920,000 |
$82,000 | $1,200,000 |
|
|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
3,396 | $549,190,000 |
$161,000 | $1,080,000 |
$79,000 | $1,716,000 |
| FHA-insured (Federal Housing Administration) |
4 | $596,000 |
$149,000 | $170,000 |
$47,000 | $54,000 |
| 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 |
|
|
| Application Approved But Not Accepted |
455 | $69,108,000 |
$151,000 | $720,000 |
$76,000 | $1,080,000 |
| Application Denied By Financial Institution |
835 | $147,882,000 |
$177,000 | $1,080,000 |
$85,000 | $1,716,000 |
| Application Withdrawn By Applicant |
724 | $115,834,000 |
$159,000 | $800,000 |
$75,000 | $774,000 |
| File Closed For Incompleteness |
259 | $50,276,000 |
$194,000 | $880,000 |
$80,000 | $364,000 |
| Loan Originated |
1,127 | $166,686,000 |
$147,000 | $872,000 |
$77,000 | $648,000 |
| 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 |
|
|
| Collateral |
46 | $7,146,000 |
$155,000 | $600,000 |
$87,000 | $935,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
160 | $26,601,000 |
$166,000 | $775,000 |
$77,000 | $1,098,000 |
| Debt-To-Income Ratio |
48 | $7,886,000 |
$164,000 | $920,000 |
$75,000 | $1,200,000 |
| Employment History |
55 | $9,214,000 |
$167,000 | $628,000 |
$71,000 | $204,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $65,000 |
$65,000 | $65,000 |
$31,000 | $31,000 |
| Mortgage Insurance Denied |
1 | $92,000 |
$92,000 | $92,000 |
$123,000 | $123,000 |
| Other |
227 | $44,699,000 |
$196,000 | $1,080,000 |
$98,000 | $1,716,000 |
| Unverifiable Information |
29 | $3,956,000 |
$136,000 | $273,000 |
$60,000 | $82,000 |
|
Mortgage Loan App Totals for SPECTRUM FUNDING CORPORATION by:
Metropolitan Area And
County
|
|
|
|
|
Copyright ©2008 AllMortgageDetail.com All rights reserved.
|
|
