AllMortgageDetail - Mortgage Application Details

Residential Loan Centers
Mortgage Loan Application
Totals and Details
for 2007

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Mortgage Company & Address Residential Loan Centers
2350 E. Devon Avenue Suite 300
Des Plaines, IL 60018
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 4,017
Total Mortgage Loan Application Amount $677,980,000
Average Mortgage Loan Application Amount $151,904
Highest Mortgage Loan Application Amount $2,850,000
Average Applicant Income $72,878
Highest Applicant Income $3,000,000

Mortgage Loan Application Detail Totals for Residential Loan Centers 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 2,461 $419,223,000 $170,000 $2,665,000 $77,000 $3,000,000
Home Purchase 1,554 $258,256,000 $166,000 $2,850,000 $84,000 $1,860,000
Home Improvement 2 $501,000 $250,000 $290,000 $55,000 $66,000

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 2,337 $427,739,000 $183,000 $2,850,000 $90,000 $3,000,000
Black or African American 726 $101,867,000 $140,000 $871,000 $59,000 $332,000
Not Provided 580 $86,465,000 $149,000 $952,000 $65,000 $696,000
Hispanic 275 $45,420,000 $165,000 $504,000 $71,000 $1,200,000
Asian 68 $11,430,000 $168,000 $439,000 $85,000 $282,000
American Indian or Alaskan Native 20 $2,808,000 $140,000 $417,000 $121,000 $620,000
Native Hawaiin or Other Pacific Islander 11 $2,251,000 $204,000 $356,000 $58,000 $86,000
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
FHA-insured (Federal Housing Administration) 2,204 $312,029,000 $141,000 $358,000 $55,000 $1,200,000
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 1,798 $362,855,000 $201,000 $2,850,000 $109,000 $3,000,000
VA-guaranteed (Veterans Administration) 15 $3,096,000 $206,000 $329,000 $77,000 $139,000
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 2,880 $494,637,000 $171,000 $2,850,000 $83,000 $1,860,000
Application Withdrawn By Applicant 883 $140,272,000 $158,000 $2,665,000 $68,000 $3,000,000
Application Denied By Financial Institution 254 $43,071,000 $169,000 $2,520,000 $77,000 $1,133,000
Application Approved But Not Accepted 0 $0 $0 $0 $0 $0
File Closed For Incompleteness 0 $0 $0 $0 $0 $0
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 141 $24,028,000 $170,000 $2,520,000 $79,000 $1,133,000
Credit History 37 $6,365,000 $172,000 $650,000 $60,000 $160,000
Other 29 $3,887,000 $134,000 $325,000 $70,000 $408,000
Debt-To-Income Ratio 25 $5,319,000 $212,000 $2,000,000 $127,000 $960,000
Unverifiable Information 7 $1,022,000 $146,000 $355,000 $42,000 $90,000
Employment History 4 $667,000 $166,000 $308,000 $63,000 $92,000
Insufficient Cash (Downpayment, Closing Cost) 3 $642,000 $214,000 $309,000 $54,000 $63,000
Credit Application Incomplete 1 $42,000 $42,000 $42,000 $49,000 $49,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0