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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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STERLING BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
STERLING BANK |
| Address | 3100 ROUTE 38
MOUNT LAUREL, NJ 08054 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 87 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $6,372,000 |
| Average Mortgage Loan Amount Applied For | $173,600 |
| Highest Mortgage Loan Amount Applied For | $675,000 |
| Average Applicant Income | $86,200 |
| Highest Applicant Income | $566,000 |
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| Home Improvement |
42 | $1,663,000 |
$39,000 | $100,000 |
$87,000 | $328,000 |
| Home Purchase |
18 | $2,285,000 |
$126,000 | $675,000 |
$78,000 | $566,000 |
| Refinancing |
27 | $2,424,000 |
$89,000 | $500,000 |
$85,000 | $293,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Black or African American |
3 | $180,000 |
$60,000 | $96,000 |
$38,000 | $48,000 |
| Hispanic |
4 | $161,000 |
$40,000 | $65,000 |
$50,000 | $139,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
6 | $2,073,000 |
$345,000 | $675,000 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
74 | $3,958,000 |
$53,000 | $456,000 |
$95,000 | $566,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
87 | $6,372,000 |
$73,000 | $675,000 |
$84,000 | $566,000 |
| 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 |
7 | $329,000 |
$47,000 | $104,000 |
$65,000 | $170,000 |
| Application Denied By Financial Institution |
14 | $536,000 |
$38,000 | $108,000 |
$54,000 | $220,000 |
| Application Withdrawn By Applicant |
3 | $240,000 |
$80,000 | $99,000 |
$90,000 | $120,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
63 | $5,267,000 |
$83,000 | $675,000 |
$93,000 | $566,000 |
| 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 |
1 | $100,000 |
$100,000 | $100,000 |
$220,000 | $220,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
9 | $313,000 |
$34,000 | $108,000 |
$50,000 | $73,000 |
| Debt-To-Income Ratio |
3 | $101,000 |
$33,000 | $45,000 |
$20,000 | $32,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
1 | $22,000 |
$22,000 | $22,000 |
$32,000 | $32,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for STERLING BANK by:
Metropolitan Area And
County
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