AllMortgageDetail - Mortgage Application Details

Us Mortgage Corporation
Mortgage Loan Application
Totals and Details
for 2003

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Mortgage Company & Address Us Mortgage Corporation
19D Chapin Road
Pine Brook, NJ 07058
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 7,383
Total Mortgage Loan Application Amount $1,698,876,000
Average Mortgage Loan Application Amount $152,829
Highest Mortgage Loan Application Amount $1,500,000
Average Applicant Income $74,737
Highest Applicant Income $2,300,000

Mortgage Loan Application Detail Totals for Us Mortgage Corporation in 2003

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
Home Purchase (one-to-four family) 4,009 $966,596,000 $160,700 $1,500,000 $85,000 $2,300,000
Refinancing (home purchase or home improvement, one-to-four family) 3,372 $732,085,000 $186,450 $1,440,000 $74,100 $750,000
Home Improvement (one-to-four family) 2 $195,000 $97,000 $125,000 $163,000 $192,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 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 2,130 $455,178,000 $209,411 $1,000,000 $90,176 $2,300,000
Hispanic 1,911 $474,322,000 $170,500 $750,000 $43,600 $661,000
Black 1,391 $318,937,000 $136,846 $952,000 $52,000 $1,245,000
Information not provided by applicant in mail or telephone application 1,155 $256,156,000 $162,875 $1,500,000 $80,187 $750,000
Other 504 $120,078,000 $158,272 $533,000 $59,909 $199,000
Asian or Pacific Islander 260 $66,785,000 $220,285 $685,000 $110,857 $330,000
Not applicable 19 $4,288,000 $197,333 $368,000 $66,000 $165,000
American Indian or Alaskan Native 13 $3,132,000 $211,000 $404,000 $68,666 $118,000

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
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 4,062 $892,316,000 $188,333 $1,500,000 $85,833 $1,245,000
FHA-insured (Federal Housing Administration) 2,549 $601,218,000 $149,400 $950,000 $50,100 $2,300,000
VA-guaranteed (Veterans Administration) 771 $205,101,000 $175,250 $750,000 $37,375 $330,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1 $241,000 $241,000 $241,000 $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 6,263 $1,428,847,000 $192,857 $1,500,000 $77,619 $2,300,000
Application Withdrawn By Applicant 865 $214,319,000 $154,333 $700,000 $92,000 $792,000
Application Denied By Financial Institution 184 $39,934,000 $151,800 $907,000 $72,600 $436,000
Application Approved But Not Accepted 53 $12,423,000 $158,000 $500,000 $50,000 $345,000
File Closed For Incompleteness 18 $3,353,000 $149,444 $444,000 $56,555 $151,000
Loan Purchased By The Institution 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
Collateral 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Credit History 0 $0 $0 $0 $0 $0
Debt-To-Income Ratio 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0
Insufficient Cash (Downpayment, Closing Cost) 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Other 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0