AllMortgageDetail - Mortgage Application Details

Flagstar Bank
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address Flagstar Bank
5151 Corporate Drive
Troy, MI 48098
Federal Regulator Consumer Financial Protection Bureau (CFPB)
Years 2014  2013  2012  2011  
Total Number of Mortgage Applications 125,978
Total Mortgage Loan Application Amount $29,844,830,000
Average Mortgage Loan Application Amount $165,727
Highest Mortgage Loan Application Amount $9,400,000
Average Applicant Income $55,783
Highest Applicant Income $7,596,000

Mortgage Loan Application Detail Totals for Flagstar Bank 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
Home Purchase 75,831 $17,518,045,000 $231,000 $9,400,000 $85,000 $7,596,000
Refinancing 47,449 $11,700,059,000 $246,000 $5,160,000 $83,000 $5,957,000
Home Improvement 2,698 $626,726,000 $232,000 $1,500,000 $96,000 $888,000

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 69,980 $16,079,378,000 $229,000 $4,000,000 $101,000 $7,596,000
Not applicable 21,550 $4,690,568,000 $217,000 $9,400,000 $0 $0
Asian 13,881 $4,284,174,000 $308,000 $2,400,000 $128,000 $2,250,000
Hispanic 10,032 $2,251,557,000 $224,000 $1,500,000 $83,000 $6,388,000
Black or African American 5,014 $1,042,587,000 $207,000 $1,455,000 $76,000 $745,000
Not Provided 4,830 $1,322,707,000 $273,000 $1,564,000 $110,000 $2,107,000
American Indian or Alaskan Native 363 $79,434,000 $218,000 $1,000,000 $91,000 $1,301,000
Native Hawaiin or Other Pacific Islander 328 $94,425,000 $287,000 $1,078,000 $95,000 $884,000

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) 85,580 $21,461,481,000 $250,000 $9,400,000 $100,000 $7,596,000
FHA-insured (Federal Housing Administration) 24,066 $4,446,393,000 $184,000 $947,000 $46,000 $985,000
VA-guaranteed (Veterans Administration) 13,615 $3,572,055,000 $262,000 $1,478,000 $62,000 $698,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2,717 $364,901,000 $134,000 $413,000 $45,000 $115,000

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 81,618 $19,711,131,000 $241,000 $9,400,000 $103,000 $7,596,000
Loan Purchased By The Institution 21,534 $4,645,521,000 $215,000 $1,200,000 $0 $0
Application Denied By Financial Institution 20,530 $4,971,715,000 $242,000 $4,000,000 $99,000 $6,388,000
Application Approved But Not Accepted 1,599 $386,687,000 $241,000 $2,000,000 $105,000 $3,240,000
Application Withdrawn By Applicant 685 $125,602,000 $183,000 $1,320,000 $85,000 $2,152,000
File Closed For Incompleteness 12 $4,174,000 $347,000 $1,100,000 $157,000 $471,000
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 Application Incomplete 9,339 $2,313,097,000 $247,000 $3,890,000 $107,000 $4,669,000
Debt-To-Income Ratio 4,538 $1,132,166,000 $249,000 $2,500,000 $69,000 $2,276,000
Collateral 3,200 $739,164,000 $230,000 $1,680,000 $109,000 $1,643,000
Credit History 1,599 $339,574,000 $212,000 $2,400,000 $96,000 $6,388,000
Other 1,195 $288,179,000 $241,000 $4,000,000 $125,000 $1,251,000
Unverifiable Information 277 $70,470,000 $254,000 $1,100,000 $113,000 $768,000
Employment History 184 $43,846,000 $238,000 $1,078,000 $76,000 $383,000
Insufficient Cash (Downpayment, Closing Cost) 111 $27,164,000 $244,000 $1,043,000 $101,000 $540,000
Mortgage Insurance Denied 87 $18,055,000 $207,000 $408,000 $94,000 $326,000