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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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THE BANK OF MARION
Mortgage Loans and Application Details
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| Mortgage Company Name |
THE BANK OF MARION |
| Address | P O BOX 1067
MARION, VA 24354 |
| Agency | Federal Reserve System (FRS) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 499 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $35,336,000 |
| Average Mortgage Loan Amount Applied For | $69,958 |
| Highest Mortgage Loan Amount Applied For | $2,000,000 |
| Average Applicant Income | $48,208 |
| Highest Applicant Income | $510,000 |
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| Home Improvement |
115 | $3,088,000 |
$26,000 | $179,000 |
$46,000 | $306,000 |
| Home Purchase |
266 | $24,237,000 |
$91,000 | $2,000,000 |
$55,000 | $510,000 |
| Refinancing |
118 | $8,011,000 |
$67,000 | $500,000 |
$43,000 | $137,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $45,000 |
$45,000 | $45,000 |
$23,000 | $23,000 |
| Black or African American |
1 | $42,000 |
$42,000 | $42,000 |
$15,000 | $15,000 |
| Hispanic |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
497 | $35,249,000 |
$70,000 | $2,000,000 |
$50,000 | $510,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
499 | $35,336,000 |
$70,000 | $2,000,000 |
$50,000 | $510,000 |
| 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 |
1 | $80,000 |
$80,000 | $80,000 |
$40,000 | $40,000 |
| Application Denied By Financial Institution |
108 | $7,281,000 |
$67,000 | $224,000 |
$36,000 | $132,000 |
| Application Withdrawn By Applicant |
15 | $895,000 |
$59,000 | $180,000 |
$38,000 | $79,000 |
| File Closed For Incompleteness |
1 | $73,000 |
$73,000 | $73,000 |
$43,000 | $43,000 |
| Loan Originated |
374 | $27,007,000 |
$72,000 | $2,000,000 |
$55,000 | $510,000 |
| 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 |
5 | $506,000 |
$101,000 | $153,000 |
$41,000 | $64,000 |
| Credit Application Incomplete |
1 | $50,000 |
$50,000 | $50,000 |
$16,000 | $16,000 |
| Credit History |
68 | $4,063,000 |
$59,000 | $165,000 |
$34,000 | $132,000 |
| Debt-To-Income Ratio |
24 | $1,647,000 |
$68,000 | $165,000 |
$42,000 | $120,000 |
| Employment History |
2 | $294,000 |
$147,000 | $224,000 |
$63,000 | $73,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $195,000 |
$195,000 | $195,000 |
$0 | $0 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
3 | $323,000 |
$107,000 | $130,000 |
$39,000 | $54,000 |
| Unverifiable Information |
3 | $153,000 |
$51,000 | $75,000 |
$30,000 | $41,000 |
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Mortgage Loan App Totals for THE BANK OF MARION by:
Metropolitan Area And
County
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