The Money Source
Mortgage Loan Application
Totals and Details
for 2016

Mortgage Company & Address The Money Source
135 Maxess Road
Melville, NY 11747
Tel #: available with data download
Federal Regulator * available with data download
Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  
Total Number of Mortgage Applications 50,890
Total Mortgage Loan Application Amount $11,549,285,000
Average Mortgage Loan Application Amount $174,214
Highest Mortgage Loan Application Amount $1,711,000
Average Applicant Income $53,443
Highest Applicant Income $8,810,000
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Mortgage Loan Application Detail Totals for The Money Source in 2016

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 29,919 $7,195,899,000 $240,000 $1,711,000 $38,000 $8,810,000
Home Purchase 20,917 $4,340,008,000 $207,000 $1,095,000 $76,000 $3,149,000
Home Improvement 56 $13,721,000 $245,000 $665,000 $85,000 $288,000

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
Not applicable 32,893 $7,564,742,000 $229,000 $1,711,000 $67,000 $8,810,000
White 8,541 $1,838,719,000 $215,000 $1,092,000 $38,000 $934,000
Not Provided 4,216 $909,389,000 $215,000 $1,087,000 $10,000 $360,000
Hispanic 2,922 $667,075,000 $228,000 $829,000 $31,000 $415,000
Black or African American 1,660 $373,399,000 $224,000 $1,100,000 $22,000 $408,000
Asian 507 $158,044,000 $311,000 $1,064,000 $66,000 $343,000
Native Hawaiin or Other Pacific Islander 90 $24,655,000 $273,000 $667,000 $45,000 $164,000
American Indian or Alaskan Native 63 $13,605,000 $215,000 $575,000 $34,000 $229,000

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
FHA-insured (Federal Housing Administration) 26,963 $5,680,495,000 $210,000 $1,087,000 $44,000 $8,810,000
VA-guaranteed (Veterans Administration) 13,320 $3,329,008,000 $249,000 $1,711,000 $39,000 $3,895,000
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 9,163 $2,330,482,000 $254,000 $1,417,000 $105,000 $4,068,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,446 $209,643,000 $144,000 $422,000 $51,000 $948,000

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 Purchased By The Institution 32,893 $7,564,742,000 $229,000 $1,711,000 $67,000 $8,810,000
Loan Originated 10,164 $2,296,685,000 $225,000 $1,100,000 $30,000 $826,000
Application Denied By Financial Institution 7,054 $1,504,917,000 $213,000 $1,087,000 $27,000 $934,000
Application Withdrawn By Applicant 508 $121,404,000 $238,000 $799,000 $73,000 $600,000
Application Approved But Not Accepted 272 $61,555,000 $226,000 $636,000 $21,000 $408,000
File Closed For Incompleteness 1 $325,000 $325,000 $325,000 $75,000 $75,000
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
Other 4,156 $862,407,000 $207,000 $1,087,000 $5,000 $667,000
Collateral 1,269 $272,372,000 $214,000 $730,000 $75,000 $934,000
Debt-To-Income Ratio 471 $113,042,000 $240,000 $750,000 $60,000 $909,000
Credit Application Incomplete 350 $79,031,000 $225,000 $713,000 $42,000 $320,000
Credit History 312 $70,251,000 $225,000 $766,000 $58,000 $353,000
Unverifiable Information 210 $45,672,000 $217,000 $806,000 $25,000 $168,000
Insufficient Cash (Downpayment, Closing Cost) 175 $36,960,000 $211,000 $536,000 $31,000 $169,000
Employment History 51 $10,318,000 $202,000 $417,000 $48,000 $152,000
Mortgage Insurance Denied 10 $2,155,000 $215,000 $407,000 $0 $0
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