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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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WASHTENAW MORTGAGE COMPANY
Mortgage Loans and Application Details
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| Mortgage Company Name |
WASHTENAW MORTGAGE COMPANY |
| Address | 3767 RANCHERO DRIVE
ANN ARBOR, MI 48108 |
| Agency | Federal Reserve System (FRS) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 15,386 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $2,087,930,000 |
| Average Mortgage Loan Amount Applied For | $116,948 |
| Highest Mortgage Loan Amount Applied For | $1,600,000 |
| Average Applicant Income | $57,193 |
| Highest Applicant Income | $1,652,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
4,476 | $583,258,000 |
$135,512 | $644,000 |
$64,230 | $1,157,000 |
| Refinancing |
10,985 | $1,514,756,000 |
$132,175 | $1,600,000 |
$59,050 | $1,652,000 |
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| American Indian or Alaskan Native |
43 | $5,358,000 |
$130,550 | $323,000 |
$59,650 | $211,000 |
| Asian |
457 | $91,760,000 |
$160,840 | $500,000 |
$68,040 | $389,000 |
| Black or African American |
1,038 | $124,179,000 |
$125,451 | $549,000 |
$57,096 | $720,000 |
| Hispanic |
523 | $72,097,000 |
$130,838 | $413,000 |
$46,838 | $346,000 |
| Native Hawaiin or Other Pacific Islander |
348 | $53,596,000 |
$142,461 | $400,000 |
$59,115 | $240,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
1,781 | $238,562,000 |
$131,850 | $1,600,000 |
$60,600 | $960,000 |
| White |
11,271 | $1,512,462,000 |
$130,256 | $950,000 |
$60,666 | $1,652,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
14,790 | $2,022,377,000 |
$133,285 | $1,600,000 |
$59,571 | $1,652,000 |
| FHA-insured (Federal Housing Administration) |
671 | $75,637,000 |
$111,535 | $238,000 |
$44,964 | $1,013,000 |
| 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 |
778 | $115,372,000 |
$132,687 | $366,000 |
$66,531 | $1,652,000 |
| Application Denied By Financial Institution |
5,680 | $749,847,000 |
$131,175 | $1,600,000 |
$61,900 | $1,492,000 |
| Application Withdrawn By Applicant |
103 | $13,179,000 |
$138,913 | $600,000 |
$63,217 | $283,000 |
| File Closed For Incompleteness |
277 | $42,318,000 |
$156,064 | $947,000 |
$63,516 | $1,652,000 |
| Loan Originated |
7,643 | $1,050,870,000 |
$134,972 | $644,000 |
$61,666 | $1,157,000 |
| Loan Purchased By The Institution |
980 | $126,428,000 |
$116,823 | $394,000 |
$55,794 | $477,000 |
| 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 |
14 | $1,211,000 |
$101,714 | $169,000 |
$52,142 | $95,000 |
| Credit Application Incomplete |
180 | $24,868,000 |
$130,960 | $467,000 |
$46,160 | $293,000 |
| Credit History |
788 | $96,690,000 |
$128,102 | $1,600,000 |
$63,564 | $573,000 |
| Debt-To-Income Ratio |
627 | $89,322,000 |
$129,387 | $950,000 |
$63,806 | $1,104,000 |
| Employment History |
146 | $20,419,000 |
$139,960 | $628,000 |
$47,720 | $602,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Mortgage Insurance Denied |
24 | $2,855,000 |
$110,000 | $500,000 |
$51,777 | $122,000 |
| Other |
10 | $1,264,000 |
$130,428 | $265,000 |
$70,142 | $196,000 |
| Unverifiable Information |
87 | $10,351,000 |
$115,277 | $514,000 |
$42,000 | $188,000 |
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Mortgage Loan App Totals for WASHTENAW MORTGAGE COMPANY by:
Metropolitan Area And
County
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