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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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TELCOM CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
TELCOM CREDIT UNION |
| Address | 44575 W. 12 MILE ROAD
NOVI, MI 48377 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 408 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $37,975,000 |
| Average Mortgage Loan Amount Applied For | $92,705 |
| Highest Mortgage Loan Amount Applied For | $536,000 |
| Average Applicant Income | $71,941 |
| Highest Applicant Income | $991,000 |
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| Home Improvement |
97 | $5,048,000 |
$52,000 | $152,000 |
$65,000 | $195,000 |
| Home Purchase |
66 | $9,867,000 |
$149,000 | $522,000 |
$70,000 | $238,000 |
| Refinancing |
255 | $24,670,000 |
$96,000 | $536,000 |
$67,000 | $991,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
5 | $883,000 |
$176,000 | $536,000 |
$92,000 | $227,000 |
| Black or African American |
164 | $13,745,000 |
$83,000 | $522,000 |
$56,000 | $175,000 |
| Hispanic |
4 | $287,000 |
$71,000 | $174,000 |
$75,000 | $175,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
0 | $0 |
$0 | $0 |
$0 | $0 |
| White |
245 | $24,670,000 |
$100,000 | $380,000 |
$73,000 | $991,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
418 | $39,585,000 |
$94,000 | $536,000 |
$67,000 | $991,000 |
| 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 |
16 | $978,000 |
$61,000 | $256,000 |
$66,000 | $121,000 |
| Application Denied By Financial Institution |
57 | $4,607,000 |
$80,000 | $238,000 |
$57,000 | $195,000 |
| Application Withdrawn By Applicant |
16 | $763,000 |
$47,000 | $150,000 |
$39,000 | $127,000 |
| File Closed For Incompleteness |
5 | $545,000 |
$109,000 | $222,000 |
$28,000 | $50,000 |
| Loan Originated |
314 | $31,082,000 |
$98,000 | $536,000 |
$71,000 | $991,000 |
| 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 |
10 | $1,610,000 |
$161,000 | $291,000 |
$60,000 | $127,000 |
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| Collateral |
11 | $1,302,000 |
$118,000 | $238,000 |
$73,000 | $115,000 |
| Credit Application Incomplete |
4 | $271,000 |
$67,000 | $138,000 |
$76,000 | $112,000 |
| Credit History |
17 | $1,580,000 |
$92,000 | $291,000 |
$56,000 | $137,000 |
| Debt-To-Income Ratio |
28 | $2,524,000 |
$90,000 | $255,000 |
$49,000 | $127,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
3 | $358,000 |
$119,000 | $174,000 |
$41,000 | $61,000 |
| Mortgage Insurance Denied |
1 | $20,000 |
$20,000 | $20,000 |
$54,000 | $54,000 |
| Other |
2 | $141,000 |
$70,000 | $116,000 |
$124,000 | $195,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for TELCOM CREDIT UNION by:
Metropolitan Area And
County
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