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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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VELOCITY CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
VELOCITY CREDIT UNION |
| Address | 610 EAST 11TH STREET
AUSTIN, TX 78701 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 1,361 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $25,987,000 |
| Average Mortgage Loan Amount Applied For | $32,080 |
| Highest Mortgage Loan Amount Applied For | $285,000 |
| Average Applicant Income | $89,580 |
| Highest Applicant Income | $762,000 |
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| Home Improvement |
817 | $6,507,000 |
$7,000 | $175,000 |
$58,000 | $300,000 |
| Home Purchase |
512 | $18,521,000 |
$36,000 | $285,000 |
$90,000 | $762,000 |
| Refinancing |
39 | $1,371,000 |
$35,000 | $151,000 |
$119,000 | $300,000 |
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| American Indian or Alaskan Native |
4 | $24,000 |
$6,000 | $7,000 |
$44,000 | $55,000 |
| Asian |
32 | $687,000 |
$21,000 | $100,000 |
$75,000 | $168,000 |
| Black or African American |
69 | $1,417,000 |
$20,000 | $216,000 |
$53,000 | $181,000 |
| Hispanic |
179 | $2,797,000 |
$15,000 | $190,000 |
$62,000 | $762,000 |
| Native Hawaiin or Other Pacific Islander |
3 | $22,000 |
$7,000 | $8,000 |
$119,000 | $264,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
282 | $3,965,000 |
$14,000 | $97,000 |
$63,000 | $231,000 |
| White |
799 | $17,487,000 |
$21,000 | $285,000 |
$78,000 | $306,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
1,368 | $26,399,000 |
$19,000 | $285,000 |
$72,000 | $762,000 |
| FHA-insured (Federal Housing Administration) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| 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 |
195 | $1,254,000 |
$6,000 | $10,000 |
$68,000 | $300,000 |
| Application Denied By Financial Institution |
268 | $2,206,000 |
$8,000 | $100,000 |
$43,000 | $192,000 |
| Application Withdrawn By Applicant |
33 | $710,000 |
$21,000 | $175,000 |
$75,000 | $165,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
345 | $5,584,000 |
$16,000 | $285,000 |
$64,000 | $235,000 |
| Loan Purchased By The Institution |
527 | $16,645,000 |
$31,000 | $133,000 |
$92,000 | $762,000 |
| 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 |
2 | $12,000 |
$6,000 | $7,000 |
$33,000 | $52,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
142 | $967,000 |
$6,000 | $25,000 |
$46,000 | $192,000 |
| Debt-To-Income Ratio |
96 | $679,000 |
$7,000 | $43,000 |
$35,000 | $141,000 |
| Employment History |
1 | $7,000 |
$7,000 | $7,000 |
$28,000 | $28,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $12,000 |
$6,000 | $7,000 |
$34,000 | $48,000 |
| Mortgage Insurance Denied |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Other |
2 | $15,000 |
$7,000 | $10,000 |
$65,000 | $94,000 |
| Unverifiable Information |
2 | $12,000 |
$6,000 | $7,000 |
$74,000 | $76,000 |
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Mortgage Loan App Totals for VELOCITY CREDIT UNION by:
Metropolitan Area And
County
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