AllMortgageDetail - Mortgage Application Details

Franklin American Mortgage Co
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address Franklin American Mortgage Co
501 Corporate Centre Drive Suite 400
Franklin, TN 37067
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2014  2013  2012  2011  
Total Number of Mortgage Applications 91,882
Total Mortgage Loan Application Amount $17,962,084,000
Average Mortgage Loan Application Amount $157,752
Highest Mortgage Loan Application Amount $1,400,000
Average Applicant Income $25,764
Highest Applicant Income $3,572,000

Mortgage Loan Application Detail Totals for Franklin American Mortgage Co 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 66,253 $12,834,638,000 $193,000 $1,400,000 $34,000 $3,572,000
Refinancing 25,774 $5,159,352,000 $200,000 $1,370,000 $36,000 $2,398,000
Home Improvement 156 $29,713,000 $190,000 $625,000 $79,000 $434,000

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
Not applicable 54,256 $10,523,497,000 $193,000 $743,000 $0 $0
White 30,470 $5,931,316,000 $194,000 $1,400,000 $87,000 $3,572,000
Hispanic 2,817 $544,711,000 $193,000 $884,000 $71,000 $1,155,000
Black or African American 1,744 $311,408,000 $178,000 $625,000 $66,000 $641,000
Asian 1,575 $405,230,000 $257,000 $1,381,000 $102,000 $885,000
Not Provided 1,120 $259,886,000 $232,000 $900,000 $94,000 $1,110,000
Native Hawaiin or Other Pacific Islander 119 $29,904,000 $251,000 $626,000 $90,000 $761,000
American Indian or Alaskan Native 82 $17,751,000 $216,000 $480,000 $120,000 $1,609,000

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) 66,785 $13,650,793,000 $204,000 $1,400,000 $36,000 $3,572,000
FHA-insured (Federal Housing Administration) 13,248 $2,103,908,000 $158,000 $742,000 $32,000 $637,000
VA-guaranteed (Veterans Administration) 7,508 $1,634,924,000 $217,000 $1,037,000 $37,000 $385,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 4,642 $634,078,000 $136,000 $426,000 $27,000 $140,000

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 Purchased By The Institution 54,256 $10,523,497,000 $193,000 $743,000 $0 $0
Loan Originated 27,889 $5,534,425,000 $198,000 $1,037,000 $88,000 $3,018,000
Application Denied By Financial Institution 4,468 $891,246,000 $199,000 $1,400,000 $77,000 $3,572,000
Application Approved But Not Accepted 3,240 $635,756,000 $196,000 $1,381,000 $85,000 $1,505,000
File Closed For Incompleteness 1,068 $196,054,000 $183,000 $1,280,000 $75,000 $600,000
Application Withdrawn By Applicant 961 $181,106,000 $188,000 $662,000 $82,000 $491,000
Preapproval Denied by Financial Institution 301 $61,619,000 $204,000 $817,000 $61,000 $451,000
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 1,365 $279,855,000 $205,000 $1,310,000 $57,000 $441,000
Other 977 $193,700,000 $198,000 $1,370,000 $85,000 $3,572,000
Credit History 933 $184,380,000 $197,000 $1,174,000 $72,000 $720,000
Collateral 643 $126,971,000 $197,000 $1,400,000 $95,000 $1,971,000
Unverifiable Information 323 $68,821,000 $213,000 $802,000 $101,000 $1,609,000
Credit Application Incomplete 253 $48,147,000 $190,000 $607,000 $78,000 $866,000
Employment History 202 $35,936,000 $177,000 $837,000 $61,000 $600,000
Insufficient Cash (Downpayment, Closing Cost) 56 $11,443,000 $204,000 $605,000 $83,000 $520,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0