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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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WORLD WIDE FINANCIAL SERVICES
Mortgage Loans and Application Details
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| Mortgage Company Name |
WORLD WIDE FINANCIAL SERVICES |
| Address | 26500 NORTHWESTERN HWY
SOUTHFIELD, MI 48076 |
| Agency | Department of Housing and Urban Development (HUD) |
| Year | 2004 |
| All Data Years | 2003 2004 |
| Total Number of Mortgage Loan Applications Processed | 2,402 |
| Total Dollar Amount of Mortgage Loan Applications Processed | $322,949,000 |
| Average Mortgage Loan Amount Applied For | $160,950 |
| Highest Mortgage Loan Amount Applied For | $1,072,000 |
| Average Applicant Income | $107,029 |
| Highest Applicant Income | $1,072,000 |
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| Home Improvement |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Home Purchase |
374 | $54,585,000 |
$176,272 | $1,000,000 |
$101,181 | $1,000,000 |
| Refinancing |
2,109 | $279,642,000 |
$198,416 | $1,072,000 |
$117,083 | $1,072,000 |
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| American Indian or Alaskan Native |
3 | $337,000 |
$126,000 | $167,000 |
$91,500 | $112,000 |
| Asian |
15 | $1,714,000 |
$148,000 | $288,000 |
$144,500 | $337,000 |
| Black or African American |
834 | $72,111,000 |
$90,400 | $496,000 |
$51,400 | $367,000 |
| Hispanic |
29 | $3,972,000 |
$162,200 | $500,000 |
$59,000 | $120,000 |
| Native Hawaiin or Other Pacific Islander |
7 | $1,563,000 |
$223,000 | $436,000 |
$69,000 | $148,000 |
| Not applicable |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Not Provided |
481 | $62,328,000 |
$139,900 | $1,000,000 |
$122,900 | $1,000,000 |
| White |
1,114 | $192,202,000 |
$302,777 | $1,072,000 |
$163,444 | $1,072,000 |
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| Conventional (any loan other than FHA, VA, FSA, or RHS loans) |
2,395 | $323,595,000 |
$184,071 | $1,072,000 |
$110,857 | $1,072,000 |
| FHA-insured (Federal Housing Administration) |
88 | $10,632,000 |
$120,000 | $229,000 |
$47,000 | $121,000 |
| 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 |
235 | $33,597,000 |
$192,375 | $1,000,000 |
$104,375 | $693,000 |
| Application Denied By Financial Institution |
310 | $31,376,000 |
$101,625 | $650,000 |
$56,250 | $300,000 |
| Application Withdrawn By Applicant |
245 | $29,898,000 |
$113,000 | $995,000 |
$51,222 | $659,000 |
| File Closed For Incompleteness |
242 | $38,870,000 |
$154,428 | $1,000,000 |
$165,714 | $1,000,000 |
| Loan Originated |
1,449 | $200,162,000 |
$185,090 | $1,072,000 |
$109,545 | $1,072,000 |
| Loan Purchased By The Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
| Preapproval Approved but not Accepted |
2 | $324,000 |
$162,000 | $255,000 |
$71,000 | $117,000 |
| Preapproval Denied by Financial Institution |
0 | $0 |
$0 | $0 |
$0 | $0 |
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| Collateral |
48 | $4,150,000 |
$86,000 | $352,000 |
$48,000 | $194,000 |
| Credit Application Incomplete |
2 | $417,000 |
$208,000 | $358,000 |
$90,000 | $150,000 |
| Credit History |
57 | $5,156,000 |
$118,000 | $240,000 |
$49,333 | $86,000 |
| Debt-To-Income Ratio |
15 | $1,184,000 |
$103,500 | $140,000 |
$48,000 | $60,000 |
| Employment History |
8 | $693,000 |
$129,500 | $187,000 |
$151,000 | $264,000 |
| Insufficient Cash (Downpayment, Closing Cost) |
2 | $137,000 |
$68,000 | $69,000 |
$43,000 | $44,000 |
| Mortgage Insurance Denied |
1 | $90,000 |
$90,000 | $90,000 |
$66,000 | $66,000 |
| Other |
118 | $12,961,000 |
$89,166 | $496,000 |
$36,166 | $300,000 |
| Unverifiable Information |
12 | $964,000 |
$80,000 | $190,000 |
$59,000 | $90,000 |
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Mortgage Loan App Totals for WORLD WIDE FINANCIAL SERVICES by:
Metropolitan Area And
County
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