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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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SPENCER SAVINGS BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
SPENCER SAVINGS BANK |
| Address | 176 MAIN STREET
SPENCER, MA 01562 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 588 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $67,609,000 |
| Average Mortgage Loan Amount Applied For | $90,809 |
| Highest Mortgage Loan Amount Applied For | $1,268,000 |
| Average Applicant Income | $100,000 |
| Highest Applicant Income | $1,423,000 |
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| Home Improvement |
127 | $4,840,000 |
$38,000 | $250,000 |
$76,000 | $338,000 |
| Home Purchase |
220 | $36,764,000 |
$167,000 | $1,268,000 |
$79,000 | $1,423,000 |
| Refinancing |
292 | $32,985,000 |
$112,000 | $632,000 |
$75,000 | $1,236,000 |
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| American Indian or Alaskan Native |
1 | $38,000 |
$38,000 | $38,000 |
$34,000 | $34,000 |
| Asian |
4 | $855,000 |
$213,000 | $299,000 |
$52,000 | $92,000 |
| Black or African American |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Hispanic |
3 | $329,000 |
$109,000 | $252,000 |
$55,000 | $86,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
18 | $3,840,000 |
$213,000 | $800,000 |
$119,000 | $1,423,000 |
| Not Provided |
58 | $4,795,000 |
$82,000 | $250,000 |
$78,000 | $1,236,000 |
| White |
555 | $64,732,000 |
$116,000 | $1,268,000 |
$76,000 | $942,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
639 | $74,589,000 |
$116,000 | $1,268,000 |
$77,000 | $1,423,000 |
| 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 |
25 | $1,850,000 |
$74,000 | $265,000 |
$55,000 | $126,000 |
| Application Denied By Financial Institution |
38 | $4,888,000 |
$128,000 | $270,000 |
$68,000 | $366,000 |
| Application Withdrawn By Applicant |
60 | $9,003,000 |
$150,000 | $542,000 |
$64,000 | $184,000 |
| File Closed For Incompleteness |
4 | $700,000 |
$175,000 | $300,000 |
$69,000 | $87,000 |
| Loan Originated |
454 | $52,727,000 |
$116,000 | $1,268,000 |
$80,000 | $1,236,000 |
| Loan Purchased By The Institution |
45 | $2,635,000 |
$58,000 | $700,000 |
$87,000 | $1,423,000 |
| Preapproval Approved but not Accepted |
10 | $2,186,000 |
$218,000 | $300,000 |
$69,000 | $92,000 |
| Preapproval Denied by Financial Institution |
3 | $600,000 |
$200,000 | $210,000 |
$63,000 | $68,000 |
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| Collateral |
2 | $105,000 |
$52,000 | $75,000 |
$87,000 | $109,000 |
| Credit Application Incomplete |
1 | $10,000 |
$10,000 | $10,000 |
$51,000 | $51,000 |
| Credit History |
19 | $2,837,000 |
$149,000 | $270,000 |
$76,000 | $366,000 |
| Debt-To-Income Ratio |
11 | $1,662,000 |
$151,000 | $252,000 |
$56,000 | $89,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
2 | $467,000 |
$233,000 | $260,000 |
$72,000 | $79,000 |
| Other |
4 | $117,000 |
$29,000 | $79,000 |
$58,000 | $92,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for SPENCER SAVINGS BANK by:
Metropolitan Area And
County
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