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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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STEARNS LENDING, INC.
Mortgage Loans and Application Details
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| Mortgage Company Name |
STEARNS LENDING, INC. |
| Address | 4 HUTTON CENTRE DRIVE, SUITE 500
SANTA ANA, CA 92707 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 15,983 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $3,940,738,000 |
| Average Mortgage Loan Amount Applied For | $189,832 |
| Highest Mortgage Loan Amount Applied For | $4,868,000 |
| Average Applicant Income | $112,000 |
| Highest Applicant Income | $2,890,000 |
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| Home Improvement |
3 | $336,000 |
$112,000 | $135,000 |
$215,000 | $539,000 |
| Home Purchase |
6,766 | $1,571,145,000 |
$232,000 | $4,868,000 |
$132,000 | $2,890,000 |
| Refinancing |
9,215 | $2,369,368,000 |
$257,000 | $2,880,000 |
$113,000 | $2,220,000 |
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| American Indian or Alaskan Native |
77 | $16,383,000 |
$212,000 | $625,000 |
$93,000 | $295,000 |
| Asian |
975 | $297,929,000 |
$305,000 | $1,610,000 |
$136,000 | $2,400,000 |
| Black or African American |
1,182 | $268,997,000 |
$227,000 | $2,000,000 |
$129,000 | $2,400,000 |
| Hispanic |
5,318 | $1,287,515,000 |
$242,000 | $3,410,000 |
$99,000 | $1,508,000 |
| Native Hawaiin or Other Pacific Islander |
212 | $55,234,000 |
$260,000 | $1,045,000 |
$124,000 | $1,200,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1,161 | $286,200,000 |
$246,000 | $2,057,000 |
$133,000 | $1,200,000 |
| White |
7,059 | $1,728,591,000 |
$244,000 | $4,868,000 |
$132,000 | $2,890,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
15,880 | $3,917,924,000 |
$246,000 | $4,868,000 |
$121,000 | $2,890,000 |
| FHA-insured (Federal Housing Administration) |
77 | $15,349,000 |
$199,000 | $368,000 |
$64,000 | $193,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
27 | $7,576,000 |
$280,000 | $385,000 |
$67,000 | $110,000 |
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| Application Approved But Not Accepted |
4,592 | $1,185,155,000 |
$258,000 | $4,868,000 |
$120,000 | $2,640,000 |
| Application Denied By Financial Institution |
3,190 | $779,067,000 |
$244,000 | $2,600,000 |
$132,000 | $2,220,000 |
| Application Withdrawn By Applicant |
499 | $108,686,000 |
$217,000 | $1,384,000 |
$108,000 | $1,386,000 |
| File Closed For Incompleteness |
1,039 | $275,146,000 |
$264,000 | $2,880,000 |
$161,000 | $2,400,000 |
| Loan Originated |
6,664 | $1,592,795,000 |
$239,000 | $1,950,000 |
$110,000 | $2,890,000 |
| 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 |
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| Collateral |
347 | $85,648,000 |
$246,000 | $2,000,000 |
$135,000 | $717,000 |
| Credit Application Incomplete |
63 | $12,925,000 |
$205,000 | $650,000 |
$117,000 | $282,000 |
| Credit History |
1,126 | $290,495,000 |
$257,000 | $2,600,000 |
$123,000 | $900,000 |
| Debt-To-Income Ratio |
188 | $43,730,000 |
$232,000 | $833,000 |
$117,000 | $379,000 |
| Employment History |
82 | $18,260,000 |
$222,000 | $1,046,000 |
$127,000 | $480,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
38 | $10,049,000 |
$264,000 | $1,173,000 |
$142,000 | $976,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
890 | $211,263,000 |
$237,000 | $2,520,000 |
$154,000 | $2,220,000 |
| Unverifiable Information |
371 | $84,733,000 |
$228,000 | $1,502,000 |
$121,000 | $750,000 |
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Mortgage Loan App Totals for STEARNS LENDING, INC. by:
Metropolitan Area And
County
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