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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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WEST MICHIGAN CREDIT UNION
Mortgage Loans and Application Details
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| Mortgage Company Name |
WEST MICHIGAN CREDIT UNION |
| Address | 1319 FRONT ST NW
GRAND RAPIDS, MI 49504 |
| Agency | National Credit Union Administration (NCUA) |
| Year | 2006 |
| All Data Years | 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 124 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $3,800,000 |
| Average Mortgage Loan Amount Applied For | $31,588 |
| Highest Mortgage Loan Amount Applied For | $270,000 |
| Average Applicant Income | $62,882 |
| Highest Applicant Income | $155,000 |
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| Home Improvement |
92 | $2,388,000 |
$25,000 | $80,000 |
$56,000 | $155,000 |
| Home Purchase |
3 | $216,000 |
$72,000 | $85,000 |
$51,000 | $71,000 |
| Refinancing |
29 | $1,196,000 |
$41,000 | $270,000 |
$64,000 | $121,000 |
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| American Indian or Alaskan Native |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Asian |
1 | $22,000 |
$22,000 | $22,000 |
$41,000 | $41,000 |
| Black or African American |
3 | $42,000 |
$14,000 | $20,000 |
$29,000 | $37,000 |
| Hispanic |
1 | $70,000 |
$70,000 | $70,000 |
$85,000 | $85,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
2 | $135,000 |
$67,000 | $75,000 |
$31,000 | $37,000 |
| White |
117 | $3,531,000 |
$30,000 | $270,000 |
$59,000 | $155,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
124 | $3,800,000 |
$30,000 | $270,000 |
$58,000 | $155,000 |
| 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 |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Application Denied By Financial Institution |
17 | $470,000 |
$27,000 | $125,000 |
$51,000 | $95,000 |
| Application Withdrawn By Applicant |
9 | $336,000 |
$37,000 | $80,000 |
$52,000 | $120,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
94 | $2,729,000 |
$29,000 | $270,000 |
$60,000 | $155,000 |
| Loan Purchased By The Institution |
4 | $265,000 |
$66,000 | $85,000 |
$48,000 | $71,000 |
| 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 |
1 | $35,000 |
$35,000 | $35,000 |
$47,000 | $47,000 |
| Credit Application Incomplete |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Credit History |
6 | $214,000 |
$35,000 | $125,000 |
$45,000 | $90,000 |
| Debt-To-Income Ratio |
9 | $186,000 |
$20,000 | $38,000 |
$56,000 | $95,000 |
| 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 |
1 | $35,000 |
$35,000 | $35,000 |
$37,000 | $37,000 |
| Unverifiable Information |
0 | $0 |
$0 | $0 |
$0 | $0 |
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Mortgage Loan App Totals for WEST MICHIGAN CREDIT UNION by:
Metropolitan Area And
County
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