First Rate Capital Corp
Mortgage Loan Application
Totals and Details
for 2005

Mortgage Company & Address First Rate Capital Corp
225 Broadhollow Road 132W
Melville, NY 11747
Tel #: available with data download
Federal Regulator * available with data download
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 1,447
Total Mortgage Loan Application Amount $359,475,000
Average Mortgage Loan Application Amount $215,346
Highest Mortgage Loan Application Amount $1,960,000
Average Applicant Income $97,306
Highest Applicant Income $1,023,000
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Mortgage Loan Application Detail Totals for First Rate Capital Corp in 2005

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
Home Purchase 1,280 $311,721,000 $204,100 $1,960,000 $78,300 $1,023,000
Refinancing 182 $51,229,000 $225,600 $950,000 $81,200 $420,000
Home Improvement 1 $500,000 $500,000 $500,000 $224,000 $224,000

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
Hispanic 529 $121,118,000 $180,444 $1,365,000 $66,555 $432,000
White 498 $127,452,000 $228,833 $1,960,000 $104,500 $1,023,000
Black or African American 331 $89,551,000 $271,400 $1,600,000 $82,800 $351,000
Not Provided 52 $12,355,000 $208,750 $532,000 $81,500 $334,000
Asian 45 $11,366,000 $175,500 $750,000 $105,250 $243,000
Native Hawaiin or Other Pacific Islander 8 $1,608,000 $210,666 $332,000 $85,666 $132,000
Not applicable 0 $0 $0 $0 $0 $0
American Indian or Alaskan Native 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) 1,434 $355,112,000 $195,000 $1,960,000 $74,600 $1,023,000
FHA-insured (Federal Housing Administration) 29 $8,338,000 $254,600 $477,000 $69,000 $168,000
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

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 1,009 $244,660,000 $209,571 $1,960,000 $92,571 $1,023,000
Application Withdrawn By Applicant 287 $77,962,000 $198,333 $1,600,000 $77,333 $1,002,000
Application Denied By Financial Institution 90 $21,116,000 $218,400 $750,000 $89,800 $225,000
File Closed For Incompleteness 64 $16,558,000 $225,333 $750,000 $78,166 $358,000
Application Approved But Not Accepted 13 $3,154,000 $242,000 $423,000 $83,000 $198,000
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
Other 25 $6,392,000 $212,500 $750,000 $99,500 $152,000
Credit History 19 $4,173,000 $188,333 $406,000 $66,333 $98,000
Employment History 14 $3,020,000 $215,000 $537,000 $106,000 $225,000
Collateral 13 $2,607,000 $176,000 $532,000 $113,000 $186,000
Debt-To-Income Ratio 11 $2,687,000 $215,000 $425,000 $70,500 $112,000
Unverifiable Information 4 $889,000 $222,000 $308,000 $82,000 $92,000
Credit Application Incomplete 2 $658,000 $329,000 $477,000 $56,000 $112,000
Insufficient Cash (Downpayment, Closing Cost) 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
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