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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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WESTERNBANK P R
Mortgage Loans and Application Details
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| Mortgage Company Name |
WESTERNBANK P R |
| Address | 19 MCKINLEY ST
MAYAGUEZ, PR 00680 |
| Agency | Federal Deposit Insurance Corporation (FDIC) |
| Year | 2006 |
| All Data Years | 2003 2004 2005 2006 |
| Total Number of Mortgage Loan Applications Processed | 4,765 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $228,774,000 |
| Average Mortgage Loan Amount Applied For | $36,615 |
| Highest Mortgage Loan Amount Applied For | $5,000,000 |
| Average Applicant Income | $39,884 |
| Highest Applicant Income | $2,599,000 |
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| Home Improvement |
3,287 | $38,986,000 |
$11,000 | $450,000 |
$30,000 | $1,000,000 |
| Home Purchase |
515 | $87,107,000 |
$169,000 | $5,000,000 |
$92,000 | $2,599,000 |
| Refinancing |
963 | $102,681,000 |
$106,000 | $1,362,000 |
$77,000 | $1,500,000 |
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| American Indian or Alaskan Native |
1 | $40,000 |
$40,000 | $40,000 |
$65,000 | $65,000 |
| Asian |
4 | $225,000 |
$56,000 | $120,000 |
$184,000 | $516,000 |
| Black or African American |
3 | $330,000 |
$110,000 | $304,000 |
$77,000 | $143,000 |
| Hispanic |
4,505 | $218,771,000 |
$48,000 | $5,000,000 |
$46,000 | $2,599,000 |
| Native Hawaiin or Other Pacific Islander |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not applicable |
3 | $486,000 |
$162,000 | $251,000 |
$88,000 | $145,000 |
| Not Provided |
197 | $2,074,000 |
$10,000 | $180,000 |
$28,000 | $132,000 |
| White |
52 | $6,848,000 |
$131,000 | $700,000 |
$101,000 | $844,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
4,694 | $222,583,000 |
$47,000 | $5,000,000 |
$46,000 | $2,599,000 |
| FHA-insured (Federal Housing Administration) |
71 | $6,191,000 |
$87,000 | $225,000 |
$27,000 | $65,000 |
| 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 |
115 | $2,627,000 |
$22,000 | $600,000 |
$34,000 | $640,000 |
| Application Denied By Financial Institution |
1,669 | $27,006,000 |
$16,000 | $627,000 |
$27,000 | $857,000 |
| Application Withdrawn By Applicant |
358 | $22,701,000 |
$63,000 | $1,496,000 |
$50,000 | $1,000,000 |
| File Closed For Incompleteness |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Loan Originated |
2,623 | $176,440,000 |
$67,000 | $5,000,000 |
$58,000 | $2,599,000 |
| 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 |
54 | $2,416,000 |
$44,000 | $140,000 |
$48,000 | $179,000 |
| Credit Application Incomplete |
132 | $6,092,000 |
$46,000 | $627,000 |
$39,000 | $293,000 |
| Credit History |
573 | $6,257,000 |
$10,000 | $536,000 |
$26,000 | $857,000 |
| Debt-To-Income Ratio |
404 | $4,752,000 |
$11,000 | $280,000 |
$24,000 | $152,000 |
| Employment History |
31 | $304,000 |
$9,000 | $100,000 |
$23,000 | $91,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
338 | $4,124,000 |
$12,000 | $360,000 |
$23,000 | $262,000 |
| Mortgage Insurance Denied |
1 | $70,000 |
$70,000 | $70,000 |
$38,000 | $38,000 |
| Other |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Unverifiable Information |
41 | $494,000 |
$12,000 | $51,000 |
$35,000 | $210,000 |
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Mortgage Loan App Totals for WESTERNBANK P R by:
Metropolitan Area And
County
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