AllMortgageDetail - Mortgage Application Details

Northeast Mortgage Corporation
Mortgage Loan Application
Totals and Details
for 2003

Download the entire list of lenders located in Arizona to a Spreadsheet or Other File Type
Mortgage Company & Address Northeast Mortgage Corporation
2023 W. Guadalupe Rd
Mesa, AZ 85202
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,728
Total Mortgage Loan Application Amount $454,712,000
Average Mortgage Loan Application Amount $153,525
Highest Mortgage Loan Application Amount $1,000,000
Average Applicant Income $72,333
Highest Applicant Income $600,000

Mortgage Loan Application Detail Totals for Northeast Mortgage Corporation in 2003

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
Refinancing (home purchase or home improvement, one-to-four family) 2,217 $371,358,000 $150,944 $900,000 $70,833 $600,000
Home Purchase (one-to-four family) 541 $88,491,000 $171,777 $1,000,000 $84,222 $456,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 2 $659,000 $329,500 $455,000 $0 $0
Home Improvement (one-to-four family) 1 $261,000 $261,000 $261,000 $144,000 $144,000

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 2,250 $378,323,000 $162,043 $1,000,000 $83,869 $600,000
Hispanic 183 $28,739,000 $153,714 $498,000 $60,428 $187,000
Black 152 $24,459,000 $141,714 $395,000 $52,142 $184,000
Information not provided by applicant in mail or telephone application 90 $14,820,000 $147,166 $476,000 $75,666 $268,000
Asian or Pacific Islander 47 $8,092,000 $175,750 $500,000 $54,750 $254,000
Other 24 $4,332,000 $173,000 $500,000 $67,000 $212,000
American Indian or Alaskan Native 15 $2,004,000 $131,666 $340,000 $44,000 $102,000
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) 2,464 $417,797,000 $161,826 $1,000,000 $84,565 $600,000
FHA-insured (Federal Housing Administration) 296 $42,943,000 $126,222 $365,000 $44,555 $184,000
VA-guaranteed (Veterans Administration) 1 $29,000 $29,000 $29,000 $70,000 $70,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 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 2,325 $390,069,000 $160,521 $1,000,000 $81,608 $420,000
Application Withdrawn By Applicant 365 $59,695,000 $154,888 $595,000 $80,222 $600,000
Application Denied By Financial Institution 57 $9,015,000 $135,833 $540,000 $55,666 $236,000
File Closed For Incompleteness 12 $1,863,000 $152,750 $272,000 $55,000 $218,000
Application Approved But Not Accepted 2 $127,000 $63,000 $64,000 $58,000 $79,000
Loan Purchased By The 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 17 $2,460,000 $129,000 $335,000 $69,000 $174,000
Debt-To-Income Ratio 6 $976,000 $158,000 $257,000 $71,500 $213,000
Other 6 $627,000 $87,250 $198,000 $60,750 $93,000
Collateral 4 $681,000 $170,000 $257,000 $63,500 $156,000
Unverifiable Information 1 $138,000 $138,000 $138,000 $66,000 $66,000
Insufficient Cash (Downpayment, Closing Cost) 1 $90,000 $90,000 $90,000 $43,000 $43,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0