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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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SUMMIT MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
SUMMIT MORTGAGE CORPORATION |
| Address | 11777 KATY FREEWAY, SUITE 570
HOUSTON, TX 77079 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 760 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $74,590,000 |
| Average Mortgage Loan Amount Applied For | $125,225 |
| Highest Mortgage Loan Amount Applied For | $471,000 |
| Average Applicant Income | $50,250 |
| Highest Applicant Income | $210,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
733 | $71,005,000 |
$96,000 | $471,000 |
$41,000 | $190,000 |
| Refinancing |
27 | $3,585,000 |
$132,000 | $292,000 |
$66,000 | $210,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
14 | $1,577,000 |
$112,000 | $163,000 |
$34,000 | $60,000 |
| Black or African American |
75 | $8,547,000 |
$113,000 | $191,000 |
$44,000 | $135,000 |
| Hispanic |
532 | $50,082,000 |
$94,000 | $302,000 |
$38,000 | $150,000 |
| Native Hawaiin or Other Pacific Islander |
4 | $593,000 |
$148,000 | $288,000 |
$83,000 | $150,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
135 | $13,791,000 |
$102,000 | $471,000 |
$56,000 | $210,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
212 | $22,340,000 |
$105,000 | $471,000 |
$47,000 | $210,000 |
| FHA-insured (Federal Housing Administration) |
527 | $49,766,000 |
$94,000 | $197,000 |
$39,000 | $140,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
21 | $2,484,000 |
$118,000 | $338,000 |
$52,000 | $120,000 |
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| Application Approved But Not Accepted |
3 | $432,000 |
$144,000 | $213,000 |
$51,000 | $60,000 |
| Application Denied By Financial Institution |
58 | $5,457,000 |
$94,000 | $186,000 |
$39,000 | $100,000 |
| Application Withdrawn By Applicant |
181 | $17,338,000 |
$95,000 | $302,000 |
$45,000 | $210,000 |
| File Closed For Incompleteness |
7 | $711,000 |
$101,000 | $143,000 |
$45,000 | $100,000 |
| Loan Originated |
511 | $50,652,000 |
$99,000 | $471,000 |
$41,000 | $190,000 |
| 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 |
6 | $379,000 |
$63,000 | $72,000 |
$41,000 | $100,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
29 | $2,885,000 |
$99,000 | $181,000 |
$45,000 | $87,000 |
| Debt-To-Income Ratio |
8 | $654,000 |
$81,000 | $105,000 |
$28,000 | $63,000 |
| Employment History |
3 | $283,000 |
$94,000 | $127,000 |
$30,000 | $40,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $89,000 |
$89,000 | $89,000 |
$30,000 | $30,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
2 | $98,000 |
$49,000 | $66,000 |
$29,000 | $35,000 |
| Unverifiable Information |
9 | $1,069,000 |
$118,000 | $186,000 |
$37,000 | $57,000 |
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Mortgage Loan App Totals for SUMMIT MORTGAGE CORPORATION by:
Metropolitan Area And
County
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