New South Federal Savings Bank
Mortgage Loan Application
Totals and Details
for 2007

Mortgage Company & Address New South Federal Savings Bank
1900 Crestwood Boulevard
Birmingham, AL 35210
Tel #: available with data download
Federal Regulator * available with data download
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 13,019
Total Mortgage Loan Application Amount $1,740,408,000
Average Mortgage Loan Application Amount $139,527
Highest Mortgage Loan Application Amount $17,693,000
Average Applicant Income $63,515
Highest Applicant Income $9,534,000
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Mortgage Loan Application Detail Totals for New South Federal Savings Bank 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 8,204 $1,121,660,000 $136,000 $17,693,000 $60,000 $1,503,000
Refinancing 6,703 $831,206,000 $124,000 $3,190,000 $60,000 $9,534,000
Home Improvement 347 $40,921,000 $117,000 $750,000 $59,000 $288,000

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 9,791 $1,316,816,000 $134,000 $3,190,000 $65,000 $9,534,000
Black or African American 4,454 $479,688,000 $107,000 $1,600,000 $49,000 $1,503,000
Hispanic 440 $64,556,000 $146,000 $646,000 $65,000 $727,000
Not Provided 355 $43,686,000 $123,000 $975,000 $52,000 $420,000
Asian 148 $24,945,000 $168,000 $451,000 $82,000 $300,000
American Indian or Alaskan Native 43 $5,122,000 $119,000 $318,000 $50,000 $160,000
Native Hawaiin or Other Pacific Islander 17 $2,321,000 $136,000 $270,000 $121,000 $680,000
Not applicable 6 $56,653,000 $9,442,000 $17,693,000 $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) 11,876 $1,591,860,000 $134,000 $17,693,000 $64,000 $9,534,000
FHA-insured (Federal Housing Administration) 2,693 $295,415,000 $109,000 $295,000 $44,000 $627,000
VA-guaranteed (Veterans Administration) 653 $102,785,000 $157,000 $426,000 $59,000 $288,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 32 $3,727,000 $116,000 $192,000 $38,000 $72,000

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 5,721 $774,394,000 $135,000 $14,000,000 $63,000 $9,534,000
Application Denied By Financial Institution 3,359 $440,711,000 $131,000 $1,600,000 $59,000 $1,092,000
File Closed For Incompleteness 2,434 $295,269,000 $121,000 $1,200,000 $62,000 $2,400,000
Preapproval Denied by Financial Institution 1,673 $174,222,000 $104,000 $665,000 $42,000 $1,503,000
Loan Purchased By The Institution 853 $110,692,000 $129,000 $750,000 $74,000 $547,000
Preapproval Approved but not Accepted 562 $79,157,000 $140,000 $600,000 $55,000 $678,000
Application Approved But Not Accepted 471 $71,466,000 $151,000 $1,040,000 $70,000 $727,000
Application Withdrawn By Applicant 181 $47,876,000 $264,000 $17,693,000 $75,000 $902,000

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 3,399 $381,427,000 $112,000 $1,600,000 $51,000 $1,503,000
Debt-To-Income Ratio 1,042 $143,460,000 $137,000 $640,000 $45,000 $360,000
Collateral 239 $39,157,000 $163,000 $1,214,000 $84,000 $812,000
Unverifiable Information 109 $19,036,000 $174,000 $825,000 $86,000 $510,000
Other 89 $12,691,000 $142,000 $608,000 $85,000 $680,000
Employment History 77 $9,357,000 $121,000 $563,000 $55,000 $180,000
Insufficient Cash (Downpayment, Closing Cost) 52 $5,374,000 $103,000 $417,000 $49,000 $150,000
Credit Application Incomplete 20 $3,451,000 $172,000 $770,000 $62,000 $216,000
Mortgage Insurance Denied 5 $980,000 $196,000 $264,000 $168,000 $540,000
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