| $3,446,236,491 in Mortgage Loans Applied for in 2008 from 17,391,570 Applications |
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US MORTGAGE CORPORATION
Mortgage Loans and Application Details
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| Mortgage Company Name |
US MORTGAGE CORPORATION |
| Address | 19D CHAPIN ROAD
PINE BROOK, NJ 07058 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2007 |
| Data Years (click a year for detail) | 2003 2004 2005 2006 2007 2008 |
| Total Number of Mortgage Loan Applications Processed | 2,278 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $535,935,000 |
| Average Mortgage Loan Amount Applied For | $183,894 |
| Highest Mortgage Loan Amount Applied For | $4,400,000 |
| Average Applicant Income | $77,086 |
| Highest Applicant Income | $6,864,000 |
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| Home Improvement |
9 | $1,280,000 |
$142,000 | $353,000 |
$64,000 | $121,000 |
| Home Purchase |
861 | $207,940,000 |
$241,000 | $1,200,000 |
$100,000 | $2,806,000 |
| Refinancing |
1,408 | $326,715,000 |
$232,000 | $4,400,000 |
$91,000 | $6,864,000 |
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| American Indian or Alaskan Native |
7 | $956,000 |
$136,000 | $250,000 |
$65,000 | $100,000 |
| Asian |
93 | $27,307,000 |
$293,000 | $860,000 |
$111,000 | $392,000 |
| Black or African American |
435 | $96,975,000 |
$222,000 | $800,000 |
$74,000 | $280,000 |
| Hispanic |
330 | $85,763,000 |
$259,000 | $1,000,000 |
$84,000 | $720,000 |
| Native Hawaiin or Other Pacific Islander |
17 | $4,066,000 |
$239,000 | $531,000 |
$98,000 | $168,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
444 | $91,047,000 |
$205,000 | $885,000 |
$74,000 | $372,000 |
| White |
952 | $229,821,000 |
$241,000 | $4,400,000 |
$115,000 | $6,864,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,900 | $458,968,000 |
$241,000 | $4,400,000 |
$101,000 | $6,864,000 |
| FHA-insured (Federal Housing Administration) |
373 | $75,919,000 |
$203,000 | $544,000 |
$64,000 | $190,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) |
3 | $538,000 |
$179,000 | $237,000 |
$72,000 | $84,000 |
| VA-guaranteed (Veterans Administration) |
2 | $510,000 |
$255,000 | $375,000 |
$49,000 | $98,000 |
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| Application Approved But Not Accepted |
196 | $46,614,000 |
$237,000 | $1,000,000 |
$95,000 | $679,000 |
| Application Denied By Financial Institution |
283 | $81,314,000 |
$287,000 | $4,400,000 |
$120,000 | $6,864,000 |
| Application Withdrawn By Applicant |
763 | $173,352,000 |
$227,000 | $1,440,000 |
$93,000 | $1,200,000 |
| File Closed For Incompleteness |
28 | $5,987,000 |
$213,000 | $420,000 |
$83,000 | $168,000 |
| Loan Originated |
1,008 | $228,668,000 |
$226,000 | $1,019,000 |
$89,000 | $2,806,000 |
| 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 |
27 | $9,394,000 |
$347,000 | $4,400,000 |
$328,000 | $6,864,000 |
| Credit Application Incomplete |
1 | $208,000 |
$208,000 | $208,000 |
$54,000 | $54,000 |
| Credit History |
33 | $10,592,000 |
$320,000 | $930,000 |
$87,000 | $351,000 |
| Debt-To-Income Ratio |
20 | $4,897,000 |
$244,000 | $413,000 |
$69,000 | $158,000 |
| Employment History |
7 | $2,153,000 |
$307,000 | $1,000,000 |
$163,000 | $414,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
5 | $810,000 |
$162,000 | $354,000 |
$29,000 | $55,000 |
| Mortgage Insurance Denied |
1 | $231,000 |
$231,000 | $231,000 |
$63,000 | $63,000 |
| Other |
41 | $9,317,000 |
$227,000 | $455,000 |
$111,000 | $1,386,000 |
| Unverifiable Information |
19 | $6,928,000 |
$364,000 | $580,000 |
$104,000 | $270,000 |
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Mortgage Loan Application Totals for US MORTGAGE CORPORATION by:
Metropolitan Area And
County
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