Fairfield Financial
Mortgage Loan Application
Totals and Details
for 2007

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 2,296
Total Mortgage Loan Application Amount $610,159,000
Average Mortgage Loan Application Amount $217,304
Highest Mortgage Loan Application Amount $2,324,000
Average Applicant Income $83,176
Highest Applicant Income $1,020,000
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Mortgage Loan Application Detail Totals for Fairfield Financial in 2007

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 1,459 $381,675,000 $261,000 $1,430,000 $81,000 $492,000
Home Purchase 836 $228,264,000 $273,000 $2,324,000 $101,000 $1,020,000
Home Improvement 1 $220,000 $220,000 $220,000 $262,000 $262,000

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 814 $198,147,000 $243,000 $1,388,000 $90,000 $977,000
Not Provided 792 $212,960,000 $268,000 $2,324,000 $90,000 $1,020,000
Black or African American 343 $99,197,000 $289,000 $1,750,000 $81,000 $367,000
Hispanic 299 $84,042,000 $281,000 $1,000,000 $87,000 $459,000
Asian 38 $12,820,000 $337,000 $975,000 $107,000 $293,000
American Indian or Alaskan Native 5 $1,186,000 $237,000 $453,000 $79,000 $255,000
Native Hawaiin or Other Pacific Islander 5 $1,807,000 $361,000 $656,000 $97,000 $185,000
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) 1,650 $455,732,000 $276,000 $2,324,000 $95,000 $1,020,000
FHA-insured (Federal Housing Administration) 640 $153,232,000 $239,000 $553,000 $73,000 $263,000
VA-guaranteed (Veterans Administration) 6 $1,195,000 $199,000 $330,000 $56,000 $72,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 0 $0 $0 $0 $0 $0

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 844 $210,495,000 $249,000 $1,000,000 $81,000 $459,000
Application Denied By Financial Institution 589 $159,759,000 $271,000 $1,750,000 $87,000 $936,000
Application Approved But Not Accepted 535 $147,690,000 $276,000 $1,388,000 $96,000 $977,000
Application Withdrawn By Applicant 314 $88,927,000 $283,000 $2,324,000 $103,000 $1,020,000
File Closed For Incompleteness 14 $3,288,000 $234,000 $530,000 $67,000 $170,000
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 255 $63,396,000 $248,000 $966,000 $75,000 $397,000
Debt-To-Income Ratio 103 $29,965,000 $290,000 $648,000 $74,000 $348,000
Other 95 $28,424,000 $299,000 $1,750,000 $97,000 $300,000
Collateral 60 $14,782,000 $246,000 $588,000 $87,000 $336,000
Unverifiable Information 33 $11,148,000 $337,000 $1,430,000 $112,000 $400,000
Insufficient Cash (Downpayment, Closing Cost) 21 $5,984,000 $284,000 $1,500,000 $164,000 $936,000
Employment History 17 $4,697,000 $276,000 $508,000 $128,000 $456,000
Credit Application Incomplete 4 $1,168,000 $292,000 $492,000 $60,000 $90,000
Mortgage Insurance Denied 1 $195,000 $195,000 $195,000 $246,000 $246,000
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