AllMortgageDetail - Mortgage Application Details

Security Mortgage Corporation
Mortgage Loan Application
Totals and Details
for 2006

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Mortgage Company & Address Security Mortgage Corporation
4505 E Chandler Blvd, Suite 135
Phoenix, AZ 85048
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2008  2006  2005  
Total Number of Mortgage Applications 1,813
Total Mortgage Loan Application Amount $355,733,000
Average Mortgage Loan Application Amount $194,434
Highest Mortgage Loan Application Amount $1,500,000
Average Applicant Income $134,913
Highest Applicant Income $1,373,000

Mortgage Loan Application Detail Totals for Security Mortgage Corporation in 2006

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 1,017 $179,490,000 $176,000 $1,500,000 $111,000 $1,373,000
Refinancing 796 $176,243,000 $221,000 $1,200,000 $104,000 $840,000
Home Improvement 0 $0 $0 $0 $0 $0

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 1,174 $237,860,000 $202,000 $1,500,000 $122,000 $1,373,000
Hispanic 284 $45,183,000 $159,000 $748,000 $73,000 $312,000
Not Provided 241 $48,797,000 $202,000 $975,000 $90,000 $465,000
Black or African American 52 $9,408,000 $180,000 $672,000 $107,000 $264,000
Not applicable 32 $8,685,000 $271,000 $1,000,000 $34,000 $556,000
Asian 18 $3,408,000 $189,000 $796,000 $121,000 $295,000
Native Hawaiin or Other Pacific Islander 10 $1,992,000 $199,000 $417,000 $114,000 $275,000
American Indian or Alaskan Native 2 $400,000 $200,000 $240,000 $84,000 $120,000

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) 1,813 $355,733,000 $196,000 $1,500,000 $108,000 $1,373,000
FHA-insured (Federal Housing Administration) 0 $0 $0 $0 $0 $0
FSA/RHS (Farm Service Agency or Rural Housing Service) 0 $0 $0 $0 $0 $0
VA-guaranteed (Veterans Administration) 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 1,284 $248,387,000 $193,000 $1,500,000 $111,000 $840,000
Application Withdrawn By Applicant 319 $62,782,000 $196,000 $1,200,000 $79,000 $1,373,000
Application Approved But Not Accepted 131 $30,017,000 $229,000 $1,000,000 $142,000 $647,000
File Closed For Incompleteness 59 $11,894,000 $201,000 $788,000 $126,000 $555,000
Application Denied By Financial Institution 20 $2,653,000 $132,000 $342,000 $82,000 $232,000
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 2 $203,000 $101,000 $184,000 $61,000 $65,000
Debt-To-Income Ratio 1 $46,000 $46,000 $46,000 $48,000 $48,000
Collateral 1 $342,000 $342,000 $342,000 $232,000 $232,000
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0
Insufficient Cash (Downpayment, Closing Cost) 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Other 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0