AllMortgageDetail - Mortgage Application Details

Refinance.Com
Mortgage Loan Application
Totals and Details
for 2007

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Mortgage Company & Address Refinance.Com
60 Oak Drive
Syosset, NY 11791
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2007  2006  2004  2003  
Total Number of Mortgage Applications 4,100
Total Mortgage Loan Application Amount $1,114,500,000
Average Mortgage Loan Application Amount $218,027
Highest Mortgage Loan Application Amount $1,800,000
Average Applicant Income $75,862
Highest Applicant Income $1,000,000

Mortgage Loan Application Detail Totals for Refinance.Com 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
Refinancing 4,023 $1,090,802,000 $271,000 $1,800,000 $87,000 $1,000,000
Home Purchase 71 $22,051,000 $310,000 $876,000 $113,000 $951,000
Home Improvement 6 $1,647,000 $274,000 $372,000 $78,000 $111,000

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 2,771 $745,892,000 $269,000 $1,800,000 $90,000 $1,000,000
Black or African American 581 $148,669,000 $255,000 $825,000 $79,000 $500,000
Hispanic 404 $115,623,000 $286,000 $901,000 $83,000 $377,000
Not Provided 264 $80,265,000 $304,000 $1,000,000 $95,000 $306,000
Asian 43 $14,167,000 $329,000 $786,000 $107,000 $300,000
American Indian or Alaskan Native 29 $7,817,000 $269,000 $592,000 $69,000 $120,000
Native Hawaiin or Other Pacific Islander 8 $2,067,000 $258,000 $610,000 $112,000 $200,000
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) 3,196 $914,433,000 $286,000 $1,800,000 $93,000 $1,000,000
FHA-insured (Federal Housing Administration) 902 $199,734,000 $221,000 $350,000 $69,000 $355,000
VA-guaranteed (Veterans Administration) 2 $333,000 $166,000 $276,000 $64,000 $102,000
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 1,898 $504,094,000 $265,000 $1,087,000 $83,000 $576,000
Application Withdrawn By Applicant 1,298 $361,205,000 $278,000 $1,463,000 $96,000 $850,000
Application Denied By Financial Institution 569 $155,139,000 $272,000 $1,800,000 $84,000 $1,000,000
Application Approved But Not Accepted 334 $94,019,000 $281,000 $1,750,000 $90,000 $720,000
File Closed For Incompleteness 1 $43,000 $43,000 $43,000 $29,000 $29,000
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
Collateral 227 $63,559,000 $279,000 $990,000 $91,000 $360,000
Other 111 $30,353,000 $273,000 $960,000 $81,000 $951,000
Credit History 92 $24,417,000 $265,000 $1,103,000 $83,000 $330,000
Debt-To-Income Ratio 62 $16,890,000 $272,000 $1,800,000 $69,000 $1,000,000
Insufficient Cash (Downpayment, Closing Cost) 15 $4,075,000 $271,000 $533,000 $85,000 $160,000
Employment History 7 $1,985,000 $283,000 $380,000 $69,000 $113,000
Unverifiable Information 4 $1,224,000 $306,000 $475,000 $100,000 $228,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0