AllMortgageDetail - Mortgage Application Details

Universal Mortgage Corporation
Mortgage Loan Application
Totals and Details
for 2008

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Mortgage Company & Address Universal Mortgage Corporation
12080 North Corporate Pkwy Suite 100
Mequon, WI 53092
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 15,480
Total Mortgage Loan Application Amount $2,405,787,000
Average Mortgage Loan Application Amount $140,183
Highest Mortgage Loan Application Amount $1,000,000
Average Applicant Income $62,705
Highest Applicant Income $1,200,000

Mortgage Loan Application Detail Totals for Universal Mortgage Corporation in 2008

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Refinancing 8,086 $1,338,467,000 $165,000 $1,000,000 $66,000 $1,200,000
Home Purchase 8,019 $1,131,330,000 $141,000 $680,000 $58,000 $715,000
Home Improvement 0 $0 $0 $0 $0 $0

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 11,579 $1,776,765,000 $153,000 $1,000,000 $64,000 $1,200,000
Hispanic 1,428 $232,263,000 $162,000 $417,000 $56,000 $285,000
Black or African American 1,123 $167,516,000 $149,000 $477,000 $55,000 $503,000
Not Provided 936 $121,041,000 $129,000 $680,000 $48,000 $550,000
Not applicable 689 $112,886,000 $163,000 $417,000 $75,000 $414,000
Asian 271 $46,845,000 $172,000 $417,000 $70,000 $360,000
American Indian or Alaskan Native 41 $5,636,000 $137,000 $364,000 $56,000 $146,000
Native Hawaiin or Other Pacific Islander 38 $6,845,000 $180,000 $309,000 $73,000 $163,000

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
FHA-insured (Federal Housing Administration) 9,278 $1,365,018,000 $147,000 $694,000 $55,000 $1,060,000
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 6,145 $990,239,000 $161,000 $1,000,000 $75,000 $1,200,000
VA-guaranteed (Veterans Administration) 682 $114,540,000 $167,000 $417,000 $57,000 $408,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 0 $0 $0 $0 $0 $0

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 9,871 $1,496,664,000 $151,000 $455,000 $62,000 $1,060,000
Application Denied By Financial Institution 2,299 $380,825,000 $165,000 $1,000,000 $66,000 $1,200,000
Application Approved But Not Accepted 2,092 $338,971,000 $162,000 $599,000 $66,000 $694,000
Loan Purchased By The Institution 688 $112,610,000 $163,000 $417,000 $75,000 $414,000
Preapproval Denied by Financial Institution 614 $62,191,000 $101,000 $680,000 $24,000 $478,000
Application Withdrawn By Applicant 473 $66,599,000 $140,000 $550,000 $57,000 $307,000
File Closed For Incompleteness 68 $11,937,000 $175,000 $417,000 $62,000 $192,000
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Credit History 1,013 $122,271,000 $120,000 $1,000,000 $39,000 $478,000
Debt-To-Income Ratio 987 $167,682,000 $169,000 $713,000 $54,000 $503,000
Other 452 $77,606,000 $171,000 $694,000 $90,000 $1,200,000
Collateral 254 $42,568,000 $167,000 $477,000 $82,000 $696,000
Employment History 123 $18,345,000 $149,000 $417,000 $59,000 $172,000
Unverifiable Information 39 $7,190,000 $184,000 $380,000 $67,000 $180,000
Insufficient Cash (Downpayment, Closing Cost) 30 $4,754,000 $158,000 $368,000 $60,000 $176,000
Mortgage Insurance Denied 14 $2,505,000 $178,000 $360,000 $80,000 $228,000
Credit Application Incomplete 1 $95,000 $95,000 $95,000 $87,000 $87,000