AllMortgageDetail - Mortgage Application Details

Granite Mortgage Inc
Mortgage Loan Application
Totals and Details
for 2007

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Mortgage Company & Address Granite Mortgage Inc
791 Jonestown Road, Suite 110
Winston-Salem, NC 27103
Federal Regulator Federal Reserve System (FRS)
Years 2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,103
Total Mortgage Loan Application Amount $283,945,000
Average Mortgage Loan Application Amount $172,553
Highest Mortgage Loan Application Amount $1,685,000
Average Applicant Income $67,089
Highest Applicant Income $1,323,000

Mortgage Loan Application Detail Totals for Granite Mortgage Inc 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
Home Purchase 1,740 $224,471,000 $129,000 $980,000 $61,000 $1,323,000
Refinancing 433 $67,440,000 $155,000 $1,685,000 $70,000 $556,000
Home Improvement 1 $115,000 $115,000 $115,000 $31,000 $31,000

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 1,798 $245,500,000 $136,000 $1,685,000 $65,000 $1,323,000
Black or African American 251 $30,976,000 $123,000 $417,000 $51,000 $381,000
Hispanic 84 $9,849,000 $117,000 $500,000 $47,000 $235,000
Asian 31 $3,808,000 $122,000 $279,000 $50,000 $225,000
Native Hawaiin or Other Pacific Islander 5 $891,000 $178,000 $284,000 $71,000 $129,000
American Indian or Alaskan Native 4 $660,000 $165,000 $252,000 $76,000 $120,000
Not Provided 1 $342,000 $342,000 $342,000 $318,000 $318,000
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) 1,336 $190,156,000 $142,000 $1,685,000 $72,000 $1,323,000
FHA-insured (Federal Housing Administration) 527 $60,734,000 $115,000 $200,000 $48,000 $381,000
VA-guaranteed (Veterans Administration) 175 $26,543,000 $151,000 $417,000 $56,000 $142,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 136 $14,593,000 $107,000 $182,000 $38,000 $69,000

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 1,854 $248,533,000 $134,000 $1,685,000 $63,000 $1,323,000
Application Withdrawn By Applicant 228 $31,339,000 $137,000 $980,000 $63,000 $300,000
Application Denied By Financial Institution 77 $10,096,000 $131,000 $1,400,000 $51,000 $364,000
File Closed For Incompleteness 11 $1,316,000 $119,000 $254,000 $68,000 $510,000
Application Approved But Not Accepted 4 $742,000 $185,000 $417,000 $60,000 $131,000
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 24 $2,781,000 $115,000 $243,000 $38,000 $71,000
Debt-To-Income Ratio 16 $1,662,000 $103,000 $184,000 $36,000 $70,000
Collateral 13 $1,509,000 $116,000 $223,000 $74,000 $312,000
Unverifiable Information 7 $2,300,000 $328,000 $1,400,000 $119,000 $364,000
Other 6 $597,000 $99,000 $197,000 $32,000 $67,000
Employment History 6 $655,000 $109,000 $192,000 $44,000 $126,000
Insufficient Cash (Downpayment, Closing Cost) 4 $422,000 $105,000 $116,000 $42,000 $79,000
Credit Application Incomplete 1 $170,000 $170,000 $170,000 $66,000 $66,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0