AllMortgageDetail - Mortgage Application Details

Wells Fargo Home Mortgage
Mortgage Loan Application
Totals and Details
for 2003

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Mortgage Company & Address Wells Fargo Home Mortgage
1 Home Campus, X9902-1R
Des Moines, IA 50328
Federal Regulator Office of the Comptroller of the Currency (OCC)
Years 2003  
Total Number of Mortgage Applications 2,225,679
Total Mortgage Loan Application Amount $391,039,904,000
Average Mortgage Loan Application Amount $106,415
Highest Mortgage Loan Application Amount $83,836,000
Average Applicant Income $52,748
Highest Applicant Income $9,646,000

Mortgage Loan Application Detail Totals for Wells Fargo Home Mortgage 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 Improvement (one-to-four family) 11 $2,507,000 $225,857 $690,000 $128,714 $542,000
Home Purchase (one-to-four family) 541,064 $100,638,011,000 $164,245 $83,836,000 $64,641 $9,103,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 0 $0 $0 $0 $0 $0
Refinancing (home purchase or home improvement, one-to-four family) 1,684,816 $290,429,129,000 $144,490 $10,000,000 $53,716 $9,646,000

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
American Indian or Alaskan Native 7,838 $1,216,167,000 $131,750 $2,750,000 $57,326 $2,400,000
Asian or Pacific Islander 103,499 $25,931,349,000 $167,692 $8,560,000 $72,250 $8,300,000
Black 106,440 $15,169,593,000 $133,905 $9,000,000 $54,226 $6,473,000
Hispanic 146,606 $21,815,400,000 $132,037 $6,879,000 $51,056 $9,455,000
Information not provided by applicant in mail or telephone application 195,198 $38,374,206,000 $160,867 $9,308,000 $60,169 $8,050,000
Not applicable 243 $29,965,000 $138,000 $650,000 $41,538 $235,000
Other 41,703 $7,537,995,000 $153,622 $2,340,000 $75,566 $5,240,000
White 1,624,364 $280,994,972,000 $153,509 $83,836,000 $60,132 $9,646,000

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) 2,002,594 $362,274,249,000 $152,603 $10,000,000 $68,735 $9,646,000
FHA-insured (Federal Housing Administration) 159,449 $20,159,904,000 $120,830 $83,836,000 $33,754 $7,181,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,258 $126,549,000 $102,844 $348,000 $38,977 $129,000
VA-guaranteed (Veterans Administration) 62,590 $8,508,945,000 $133,519 $1,568,000 $36,750 $6,473,000

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
Application Approved But Not Accepted 225,168 $41,404,559,000 $150,660 $9,308,000 $56,433 $7,385,000
Application Denied By Financial Institution 146,293 $25,567,182,000 $147,981 $83,836,000 $58,490 $8,316,000
Application Withdrawn By Applicant 57,582 $11,353,909,000 $159,716 $6,600,000 $58,773 $9,600,000
File Closed For Incompleteness 11,380 $2,273,734,000 $153,056 $4,200,000 $60,452 $6,000,000
Loan Originated 1,739,373 $304,640,235,000 $149,660 $10,000,000 $58,264 $9,646,000
Loan Purchased By The Institution 46,095 $5,830,028,000 $146,083 $1,800,000 $84,020 $1,903,000

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 22,015 $3,444,991,000 $140,641 $3,000,000 $66,358 $7,957,000
Credit Application Incomplete 15,165 $3,065,218,000 $169,603 $4,750,000 $50,943 $6,552,000
Credit History 39,982 $6,202,591,000 $136,962 $3,500,000 $59,150 $6,600,000
Debt-To-Income Ratio 32,808 $6,225,895,000 $156,528 $6,879,000 $49,000 $6,857,000
Employment History 7,795 $1,263,430,000 $145,538 $1,500,000 $69,153 $3,300,000
Insufficient Cash (Downpayment, Closing Cost) 3,710 $638,905,000 $142,788 $3,000,000 $54,269 $1,675,000
Mortgage Insurance Denied 75 $9,514,000 $115,520 $448,000 $56,560 $255,000
Other 18,850 $3,692,078,000 $154,113 $83,836,000 $61,264 $8,316,000
Unverifiable Information 5,893 $1,024,560,000 $150,250 $1,735,000 $71,230 $8,274,000