AllMortgageDetail - Mortgage Application Details

South Pacific Financial Corpor
Mortgage Loan Application
Totals and Details
for 2007

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Mortgage Company & Address South Pacific Financial Corpor
10737 Laurel Street Suite 200
Rancho Cucamonga, CA 91730
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,175
Total Mortgage Loan Application Amount $600,280,000
Average Mortgage Loan Application Amount $275,682
Highest Mortgage Loan Application Amount $1,400,000
Average Applicant Income $100,658
Highest Applicant Income $1,920,000

Mortgage Loan Application Detail Totals for South Pacific Financial Corpor 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 1,220 $348,184,000 $285,000 $1,400,000 $102,000 $1,467,000
Home Purchase 957 $252,638,000 $263,000 $1,000,000 $102,000 $1,920,000
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
Hispanic 926 $240,346,000 $259,000 $760,000 $85,000 $720,000
White 716 $196,271,000 $274,000 $1,000,000 $115,000 $1,920,000
Not Provided 301 $93,752,000 $311,000 $1,400,000 $113,000 $1,467,000
Black or African American 145 $43,445,000 $299,000 $1,388,000 $107,000 $900,000
Asian 65 $19,560,000 $300,000 $904,000 $128,000 $480,000
Native Hawaiin or Other Pacific Islander 16 $4,635,000 $289,000 $647,000 $127,000 $285,000
American Indian or Alaskan Native 8 $2,813,000 $351,000 $772,000 $165,000 $324,000
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) 2,023 $565,417,000 $279,000 $1,400,000 $104,000 $1,920,000
FHA-insured (Federal Housing Administration) 142 $32,242,000 $227,000 $380,000 $70,000 $382,000
VA-guaranteed (Veterans Administration) 12 $3,163,000 $263,000 $424,000 $82,000 $164,000
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 935 $254,180,000 $271,000 $1,106,000 $103,000 $1,920,000
Application Approved But Not Accepted 517 $144,676,000 $279,000 $1,369,000 $99,000 $1,467,000
File Closed For Incompleteness 450 $126,797,000 $281,000 $1,400,000 $105,000 $900,000
Application Denied By Financial Institution 197 $52,745,000 $267,000 $1,388,000 $104,000 $294,000
Application Withdrawn By Applicant 78 $22,424,000 $287,000 $960,000 $88,000 $480,000
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
Other 13 $2,729,000 $209,000 $531,000 $86,000 $187,000
Debt-To-Income Ratio 8 $2,050,000 $256,000 $544,000 $102,000 $190,000
Credit History 7 $1,823,000 $260,000 $520,000 $110,000 $220,000
Unverifiable Information 2 $726,000 $363,000 $400,000 $90,000 $98,000
Collateral 1 $256,000 $256,000 $256,000 $168,000 $168,000
Employment History 1 $170,000 $170,000 $170,000 $38,000 $38,000
Insufficient Cash (Downpayment, Closing Cost) 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0