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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 MONTROSE STATE BANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
THE MONTROSE STATE BANK |
| Address | 200 W. STATE ST., P.O. BOX 188
MONTROSE, MI 48457 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 105 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $8,652,000 |
| Average Mortgage Loan Amount Applied For | $95,666 |
| Highest Mortgage Loan Amount Applied For | $630,000 |
| Average Applicant Income | $45,833 |
| Highest Applicant Income | $321,000 |
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| Home Improvement |
34 | $2,084,000 |
$61,000 | $316,000 |
$42,000 | $122,000 |
| Home Purchase |
26 | $2,419,000 |
$93,000 | $630,000 |
$70,000 | $321,000 |
| Refinancing |
46 | $4,266,000 |
$92,000 | $350,000 |
$44,000 | $149,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $26,000 |
$26,000 | $26,000 |
$0 | $0 |
| Black or African American |
1 | $6,000 |
$6,000 | $6,000 |
$34,000 | $34,000 |
| Hispanic |
4 | $545,000 |
$136,000 | $316,000 |
$44,000 | $51,000 |
| 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 |
100 | $8,192,000 |
$81,000 | $630,000 |
$50,000 | $321,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
99 | $8,718,000 |
$88,000 | $630,000 |
$50,000 | $321,000 |
| FHA-insured (Federal Housing Administration) |
7 | $51,000 |
$7,000 | $10,000 |
$44,000 | $70,000 |
| 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 |
10 | $984,000 |
$98,000 | $241,000 |
$63,000 | $132,000 |
| Application Denied By Financial Institution |
33 | $2,935,000 |
$88,000 | $630,000 |
$42,000 | $321,000 |
| Application Withdrawn By Applicant |
4 | $280,000 |
$70,000 | $109,000 |
$48,000 | $72,000 |
| File Closed For Incompleteness |
1 | $80,000 |
$80,000 | $80,000 |
$0 | $0 |
| Loan Originated |
58 | $4,490,000 |
$77,000 | $316,000 |
$52,000 | $219,000 |
| 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 | $425,000 |
$70,000 | $161,000 |
$57,000 | $78,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
11 | $537,000 |
$48,000 | $117,000 |
$27,000 | $46,000 |
| Debt-To-Income Ratio |
10 | $1,569,000 |
$156,000 | $630,000 |
$58,000 | $321,000 |
| Employment History |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $146,000 |
$73,000 | $76,000 |
$23,000 | $30,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
4 | $258,000 |
$64,000 | $150,000 |
$34,000 | $92,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for THE MONTROSE STATE BANK by:
Metropolitan Area And
County
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