Fairfield Financial
Mortgage Loan Application
Totals and Details
for 2006

Mortgage Company & Address Fairfield Financial
2 National Place
Danbury, CT 06810
Tel #: available with data download
Federal Regulator * available with data download
Years 2007  2006  
Total Number of Mortgage Applications 2,613
Total Mortgage Loan Application Amount $580,243,000
Average Mortgage Loan Application Amount $178,922
Highest Mortgage Loan Application Amount $2,450,000
Average Applicant Income $84,056
Highest Applicant Income $1,884,000
Download the Connecticut Lender List

Mortgage Loan Application Detail Totals for Fairfield Financial in 2006

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 1,534 $379,013,000 $247,000 $2,450,000 $86,000 $1,884,000
Home Purchase 1,058 $197,024,000 $186,000 $1,172,000 $98,000 $900,000
Home Improvement 21 $4,206,000 $200,000 $625,000 $79,000 $350,000

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 1,177 $253,901,000 $215,000 $1,713,000 $104,000 $1,200,000
Not Provided 736 $170,169,000 $231,000 $2,450,000 $82,000 $1,000,000
Black or African American 370 $83,971,000 $226,000 $960,000 $78,000 $1,884,000
Hispanic 280 $59,708,000 $213,000 $694,000 $67,000 $234,000
Asian 44 $11,903,000 $270,000 $1,000,000 $128,000 $420,000
American Indian or Alaskan Native 4 $341,000 $85,000 $192,000 $170,000 $530,000
Native Hawaiin or Other Pacific Islander 2 $250,000 $125,000 $200,000 $96,000 $96,000
Not applicable 0 $0 $0 $0 $0 $0

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) 2,447 $543,769,000 $222,000 $2,450,000 $92,000 $1,884,000
FHA-insured (Federal Housing Administration) 162 $35,205,000 $217,000 $577,000 $69,000 $318,000
VA-guaranteed (Veterans Administration) 3 $819,000 $273,000 $350,000 $76,000 $90,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1 $450,000 $450,000 $450,000 $468,000 $468,000

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 1,170 $257,944,000 $220,000 $1,713,000 $94,000 $1,200,000
Application Withdrawn By Applicant 980 $233,776,000 $238,000 $2,450,000 $91,000 $1,884,000
Application Approved But Not Accepted 270 $45,742,000 $169,000 $975,000 $79,000 $468,000
Application Denied By Financial Institution 192 $42,541,000 $221,000 $900,000 $83,000 $504,000
File Closed For Incompleteness 1 $240,000 $240,000 $240,000 $41,000 $41,000
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

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
Credit History 73 $16,839,000 $230,000 $630,000 $83,000 $504,000
Collateral 43 $8,362,000 $194,000 $694,000 $87,000 $360,000
Other 26 $5,868,000 $225,000 $900,000 $101,000 $250,000
Debt-To-Income Ratio 22 $6,092,000 $276,000 $500,000 $76,000 $177,000
Employment History 13 $2,309,000 $177,000 $460,000 $63,000 $150,000
Unverifiable Information 10 $2,240,000 $224,000 $449,000 $103,000 $156,000
Insufficient Cash (Downpayment, Closing Cost) 5 $831,000 $166,000 $496,000 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Download the Connecticut Lender List