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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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TOWNEBANK
Mortgage Loans and Application Details
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| Mortgage Company Name |
TOWNEBANK |
| Address | 6001 HARBORVIEW BLVD
SUFFOLK, VA 23435 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 3,148 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $702,380,000 |
| Average Mortgage Loan Amount Applied For | $257,858 |
| Highest Mortgage Loan Amount Applied For | $3,000,000 |
| Average Applicant Income | $175,447 |
| Highest Applicant Income | $5,915,000 |
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| Home Improvement |
83 | $3,608,000 |
$43,000 | $250,000 |
$89,000 | $571,000 |
| Home Purchase |
2,385 | $511,273,000 |
$214,000 | $3,000,000 |
$98,000 | $5,915,000 |
| Refinancing |
682 | $187,577,000 |
$275,000 | $2,000,000 |
$142,000 | $5,540,000 |
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| American Indian or Alaskan Native |
6 | $1,072,000 |
$178,000 | $214,000 |
$59,000 | $102,000 |
| Asian |
63 | $16,773,000 |
$266,000 | $800,000 |
$114,000 | $759,000 |
| Black or African American |
476 | $88,257,000 |
$185,000 | $703,000 |
$74,000 | $612,000 |
| Hispanic |
90 | $18,008,000 |
$200,000 | $748,000 |
$73,000 | $420,000 |
| Native Hawaiin or Other Pacific Islander |
22 | $4,858,000 |
$220,000 | $573,000 |
$107,000 | $384,000 |
| Not applicable |
45 | $14,372,000 |
$319,000 | $3,000,000 |
$0 | $0 |
| Not Provided |
61 | $11,856,000 |
$194,000 | $700,000 |
$135,000 | $1,296,000 |
| White |
2,387 | $547,262,000 |
$229,000 | $2,000,000 |
$117,000 | $5,915,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,443 | $561,290,000 |
$229,000 | $3,000,000 |
$120,000 | $5,915,000 |
| FHA-insured (Federal Housing Administration) |
251 | $40,005,000 |
$159,000 | $327,000 |
$59,000 | $299,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| VA-guaranteed (Veterans Administration) |
456 | $101,163,000 |
$221,000 | $417,000 |
$64,000 | $169,000 |
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| Application Approved But Not Accepted |
101 | $23,073,000 |
$228,000 | $676,000 |
$96,000 | $576,000 |
| Application Denied By Financial Institution |
55 | $5,244,000 |
$95,000 | $415,000 |
$65,000 | $507,000 |
| Application Withdrawn By Applicant |
175 | $42,517,000 |
$242,000 | $2,000,000 |
$111,000 | $1,145,000 |
| File Closed For Incompleteness |
7 | $3,177,000 |
$453,000 | $1,400,000 |
$159,000 | $372,000 |
| Loan Originated |
2,812 | $628,447,000 |
$223,000 | $3,000,000 |
$108,000 | $5,915,000 |
| 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 |
4 | $500,000 |
$125,000 | $180,000 |
$68,000 | $130,000 |
| Credit Application Incomplete |
1 | $2,000 |
$2,000 | $2,000 |
$38,000 | $38,000 |
| Credit History |
23 | $1,593,000 |
$69,000 | $268,000 |
$87,000 | $507,000 |
| Debt-To-Income Ratio |
13 | $770,000 |
$59,000 | $213,000 |
$39,000 | $80,000 |
| Employment History |
5 | $1,065,000 |
$213,000 | $415,000 |
$82,000 | $159,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
1 | $140,000 |
$140,000 | $140,000 |
$35,000 | $35,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
8 | $1,174,000 |
$146,000 | $309,000 |
$40,000 | $109,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for TOWNEBANK by:
Metropolitan Area And
County
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