AllMortgageDetail - Mortgage Application Details

United Shore Financial Service
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address United Shore Financial Service
1414 East Maple Rd
Troy, MI 48083
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2014  2013  2012  2011  
Total Number of Mortgage Applications 52,808
Total Mortgage Loan Application Amount $12,496,569,000
Average Mortgage Loan Application Amount $179,450
Highest Mortgage Loan Application Amount $2,500,000
Average Applicant Income $87,903
Highest Applicant Income $4,525,000

Mortgage Loan Application Detail Totals for United Shore Financial Service in 2014

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 29,110 $6,519,156,000 $223,000 $2,000,000 $94,000 $3,312,000
Refinancing 23,356 $5,895,125,000 $252,000 $2,500,000 $109,000 $4,525,000
Home Improvement 342 $82,288,000 $240,000 $882,000 $107,000 $1,900,000

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 33,944 $7,926,607,000 $233,000 $2,500,000 $105,000 $4,525,000
Asian 7,481 $2,040,597,000 $272,000 $1,750,000 $107,000 $1,392,000
Hispanic 6,249 $1,358,286,000 $217,000 $2,466,000 $78,000 $1,557,000
Black or African American 2,628 $514,733,000 $195,000 $1,500,000 $76,000 $1,019,000
Not Provided 2,180 $571,530,000 $262,000 $1,594,000 $110,000 $1,329,000
Native Hawaiin or Other Pacific Islander 220 $59,132,000 $268,000 $985,000 $100,000 $533,000
American Indian or Alaskan Native 106 $25,684,000 $242,000 $958,000 $110,000 $586,000
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) 44,153 $10,882,744,000 $246,000 $2,500,000 $108,000 $4,525,000
FHA-insured (Federal Housing Administration) 5,762 $1,067,142,000 $185,000 $743,000 $66,000 $969,000
VA-guaranteed (Veterans Administration) 1,526 $349,168,000 $228,000 $774,000 $77,000 $298,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,367 $197,515,000 $144,000 $509,000 $48,000 $140,000

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 37,720 $8,829,114,000 $234,000 $2,300,000 $103,000 $3,312,000
Application Denied By Financial Institution 8,448 $2,100,565,000 $248,000 $2,500,000 $87,000 $4,463,000
File Closed For Incompleteness 5,164 $1,243,643,000 $240,000 $1,594,000 $108,000 $4,525,000
Application Approved But Not Accepted 1,200 $263,082,000 $219,000 $1,100,000 $94,000 $1,216,000
Application Withdrawn By Applicant 276 $60,165,000 $217,000 $1,000,000 $94,000 $565,000
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
Debt-To-Income Ratio 3,252 $846,462,000 $260,000 $2,280,000 $63,000 $800,000
Collateral 1,388 $312,787,000 $225,000 $2,500,000 $100,000 $972,000
Credit History 1,010 $251,767,000 $249,000 $1,618,000 $98,000 $1,205,000
Other 895 $223,163,000 $249,000 $2,466,000 $116,000 $1,835,000
Unverifiable Information 279 $80,719,000 $289,000 $1,750,000 $132,000 $4,463,000
Employment History 133 $37,369,000 $280,000 $1,000,000 $77,000 $257,000
Insufficient Cash (Downpayment, Closing Cost) 118 $25,474,000 $215,000 $1,120,000 $83,000 $533,000
Credit Application Incomplete 19 $7,584,000 $399,000 $1,050,000 $130,000 $374,000
Mortgage Insurance Denied 5 $801,000 $160,000 $212,000 $65,000 $109,000