AllMortgageDetail - Mortgage Application Details

Stearns Lending
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address Stearns Lending
4 Hutton Centre, 10Th Floor
Santa Ana, CA 92707
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 76,777
Total Mortgage Loan Application Amount $19,922,520,000
Average Mortgage Loan Application Amount $181,674
Highest Mortgage Loan Application Amount $3,000,000
Average Applicant Income $81,717
Highest Applicant Income $4,462,000

Mortgage Loan Application Detail Totals for Stearns Lending 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 48,365 $12,019,175,000 $248,000 $2,500,000 $91,000 $2,075,000
Refinancing 28,412 $7,903,345,000 $278,000 $3,000,000 $99,000 $4,462,000
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 50,451 $12,904,037,000 $255,000 $2,500,000 $97,000 $4,462,000
Hispanic 10,250 $2,382,604,000 $232,000 $1,470,000 $70,000 $1,356,000
Asian 7,450 $2,335,034,000 $313,000 $2,700,000 $106,000 $2,947,000
Not Provided 5,198 $1,461,049,000 $281,000 $3,000,000 $101,000 $1,560,000
Black or African American 2,691 $631,147,000 $234,000 $1,418,000 $77,000 $1,233,000
Native Hawaiin or Other Pacific Islander 490 $149,612,000 $305,000 $1,600,000 $96,000 $373,000
American Indian or Alaskan Native 247 $59,037,000 $239,000 $700,000 $91,000 $487,000
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) 53,858 $14,560,583,000 $270,000 $3,000,000 $106,000 $4,462,000
FHA-insured (Federal Housing Administration) 14,063 $3,029,701,000 $215,000 $815,000 $63,000 $601,000
VA-guaranteed (Veterans Administration) 6,448 $1,925,232,000 $298,000 $1,500,000 $79,000 $547,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 2,408 $407,004,000 $169,000 $595,000 $50,000 $126,000

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 46,592 $12,156,504,000 $260,000 $2,000,000 $94,000 $4,462,000
Loan Purchased By The Institution 16,349 $4,076,652,000 $249,000 $2,500,000 $95,000 $2,947,000
Application Approved But Not Accepted 5,845 $1,594,588,000 $272,000 $1,865,000 $96,000 $1,812,000
Application Denied By Financial Institution 3,357 $916,680,000 $273,000 $3,000,000 $86,000 $2,229,000
Application Withdrawn By Applicant 3,219 $801,401,000 $248,000 $2,000,000 $94,000 $1,560,000
File Closed For Incompleteness 1,415 $376,695,000 $266,000 $1,725,000 $85,000 $844,000
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 987 $288,098,000 $291,000 $3,000,000 $64,000 $384,000
Collateral 718 $182,742,000 $254,000 $1,425,000 $100,000 $718,000
Credit History 692 $183,858,000 $265,000 $1,470,000 $93,000 $2,229,000
Other 564 $155,077,000 $274,000 $2,700,000 $95,000 $989,000
Unverifiable Information 150 $41,651,000 $277,000 $1,320,000 $93,000 $626,000
Employment History 119 $29,884,000 $251,000 $1,500,000 $88,000 $1,356,000
Insufficient Cash (Downpayment, Closing Cost) 72 $17,537,000 $243,000 $843,000 $72,000 $174,000
Credit Application Incomplete 52 $17,282,000 $332,000 $1,985,000 $110,000 $519,000
Mortgage Insurance Denied 3 $551,000 $183,000 $291,000 $90,000 $152,000