AllMortgageDetail - Mortgage Application Details

Bank Of America, N.A.
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address Bank Of America, N.A.
31303 Agoura Rd Ca6-917-02-25
Westlake Village, CA 91361
Federal Regulator Consumer Financial Protection Bureau (CFPB)
Years 2014  2013  2012  2011  
Total Number of Mortgage Applications 317,431
Total Mortgage Loan Application Amount $77,344,755,000
Average Mortgage Loan Application Amount $136,331
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $79,621
Highest Applicant Income $9,999,000

Mortgage Loan Application Detail Totals for Bank Of America, N.A. in 2014

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
Refinancing 199,622 $43,643,073,000 $218,000 $99,999,000 $99,000 $9,999,000
Home Purchase 103,013 $31,485,752,000 $305,000 $99,999,000 $132,000 $9,999,000
Home Improvement 14,957 $2,312,473,000 $154,000 $79,000,000 $113,000 $9,999,000

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
White 192,463 $46,825,651,000 $243,000 $29,700,000 $123,000 $9,999,000
Hispanic 39,713 $6,725,399,000 $169,000 $8,453,000 $72,000 $9,999,000
Black or African American 26,752 $4,211,623,000 $157,000 $6,000,000 $68,000 $9,999,000
Asian 26,284 $8,748,710,000 $332,000 $5,549,000 $134,000 $9,999,000
Not Provided 24,248 $5,548,881,000 $228,000 $12,000,000 $126,000 $9,999,000
Not applicable 4,499 $4,672,509,000 $1,038,000 $99,999,000 $0 $0
American Indian or Alaskan Native 2,135 $357,628,000 $167,000 $4,738,000 $84,000 $6,156,000
Native Hawaiin or Other Pacific Islander 1,498 $350,897,000 $234,000 $2,000,000 $101,000 $9,999,000

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) 252,141 $66,867,803,000 $265,000 $99,999,000 $128,000 $9,999,000
FHA-insured (Federal Housing Administration) 52,587 $8,381,476,000 $159,000 $1,172,000 $43,000 $2,006,000
VA-guaranteed (Veterans Administration) 11,372 $2,007,473,000 $176,000 $1,181,000 $39,000 $731,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,492 $184,546,000 $123,000 $407,000 $43,000 $122,000

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
Loan Originated 162,320 $42,523,994,000 $261,000 $99,999,000 $125,000 $9,999,000
Application Denied By Financial Institution 59,776 $13,920,054,000 $232,000 $55,100,000 $103,000 $9,999,000
Loan Purchased By The Institution 42,924 $6,764,890,000 $157,000 $2,300,000 $52,000 $2,492,000
Application Approved But Not Accepted 26,650 $5,822,704,000 $218,000 $65,000,000 $107,000 $9,999,000
Application Withdrawn By Applicant 17,999 $6,302,854,000 $350,000 $99,999,000 $136,000 $9,999,000
File Closed For Incompleteness 7,762 $2,010,259,000 $258,000 $40,000,000 $141,000 $9,999,000
Preapproval Denied by Financial Institution 161 $96,543,000 $599,000 $5,475,000 $189,000 $4,300,000
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0

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
Debt-To-Income Ratio 18,367 $5,421,204,000 $295,000 $9,000,000 $86,000 $4,160,000
Collateral 12,628 $2,900,214,000 $229,000 $55,100,000 $129,000 $8,289,000
Credit History 10,329 $1,834,425,000 $177,000 $4,000,000 $107,000 $9,999,000
Other 9,716 $1,714,577,000 $176,000 $4,550,000 $94,000 $6,156,000
Unverifiable Information 3,789 $856,934,000 $226,000 $3,800,000 $108,000 $2,336,000
Insufficient Cash (Downpayment, Closing Cost) 3,784 $957,047,000 $252,000 $15,000,000 $104,000 $6,156,000
Employment History 660 $147,402,000 $223,000 $1,192,000 $95,000 $1,500,000
Credit Application Incomplete 653 $182,040,000 $278,000 $2,975,000 $162,000 $5,430,000
Mortgage Insurance Denied 11 $2,754,000 $250,000 $495,000 $120,000 $363,000