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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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TEACHER FEDERAL CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
TEACHER FEDERAL CREDIT UNION |
| Address | 6500 OLSON MEMORIAL HWY
MINNEAPOLIS, MN 55427 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,284 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $97,498,000 |
| Average Mortgage Loan Amount Applied For | $77,633 |
| Highest Mortgage Loan Amount Applied For | $440,000 |
| Average Applicant Income | $88,250 |
| Highest Applicant Income | $463,000 |
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| Home Improvement |
483 | $16,845,000 |
$34,000 | $225,000 |
$92,000 | $432,000 |
| Home Purchase |
132 | $21,599,000 |
$163,000 | $800,000 |
$81,000 | $2,160,000 |
| Refinancing |
753 | $73,393,000 |
$97,000 | $440,000 |
$84,000 | $463,000 |
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| American Indian or Alaskan Native |
3 | $507,000 |
$169,000 | $338,000 |
$60,000 | $110,000 |
| Asian |
27 | $2,234,000 |
$82,000 | $208,000 |
$74,000 | $192,000 |
| Black or African American |
33 | $3,537,000 |
$107,000 | $349,000 |
$74,000 | $170,000 |
| Hispanic |
8 | $809,000 |
$101,000 | $440,000 |
$80,000 | $120,000 |
| Native Hawaiin or Other Pacific Islander |
1 | $45,000 |
$45,000 | $45,000 |
$63,000 | $63,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
368 | $27,505,000 |
$74,000 | $410,000 |
$83,000 | $306,000 |
| White |
928 | $77,200,000 |
$83,000 | $800,000 |
$89,000 | $2,160,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,367 | $111,687,000 |
$81,000 | $800,000 |
$87,000 | $2,160,000 |
| 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) |
1 | $150,000 |
$150,000 | $150,000 |
$39,000 | $39,000 |
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| Application Approved But Not Accepted |
186 | $17,174,000 |
$92,000 | $360,000 |
$86,000 | $306,000 |
| Application Denied By Financial Institution |
66 | $7,162,000 |
$108,000 | $400,000 |
$58,000 | $170,000 |
| Application Withdrawn By Applicant |
47 | $9,219,000 |
$196,000 | $800,000 |
$111,000 | $2,160,000 |
| File Closed For Incompleteness |
62 | $6,132,000 |
$98,000 | $380,000 |
$81,000 | $211,000 |
| Loan Originated |
951 | $62,577,000 |
$65,000 | $417,000 |
$90,000 | $463,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
10 | $2,065,000 |
$206,000 | $280,000 |
$63,000 | $95,000 |
| Preapproval Denied by Financial Institution |
46 | $7,508,000 |
$163,000 | $350,000 |
$54,000 | $240,000 |
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| Collateral |
11 | $1,504,000 |
$136,000 | $300,000 |
$77,000 | $240,000 |
| Credit Application Incomplete |
1 | $50,000 |
$50,000 | $50,000 |
$25,000 | $25,000 |
| Credit History |
46 | $6,462,000 |
$140,000 | $400,000 |
$61,000 | $159,000 |
| Debt-To-Income Ratio |
49 | $5,596,000 |
$114,000 | $307,000 |
$48,000 | $170,000 |
| Employment History |
3 | $598,000 |
$199,000 | $263,000 |
$73,000 | $144,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $295,000 |
$295,000 | $295,000 |
$61,000 | $61,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
1 | $165,000 |
$165,000 | $165,000 |
$26,000 | $26,000 |
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Mortgage Loan App Totals for TEACHER FEDERAL CREDIT UNION by:
Metropolitan Area And
County
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