AllMortgageDetail - Mortgage Application Details

Us Mortgage Corporation
Mortgage Loan Application
Totals and Details
for 2007

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Mortgage Company & Address Us Mortgage Corporation
19D Chapin Road
Pine Brook, NJ 07058
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,278
Total Mortgage Loan Application Amount $535,935,000
Average Mortgage Loan Application Amount $183,894
Highest Mortgage Loan Application Amount $4,400,000
Average Applicant Income $77,086
Highest Applicant Income $6,864,000

Mortgage Loan Application Detail Totals for Us Mortgage Corporation 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 1,408 $326,715,000 $232,000 $4,400,000 $91,000 $6,864,000
Home Purchase 861 $207,940,000 $241,000 $1,200,000 $100,000 $2,806,000
Home Improvement 9 $1,280,000 $142,000 $353,000 $64,000 $121,000

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 952 $229,821,000 $241,000 $4,400,000 $115,000 $6,864,000
Not Provided 444 $91,047,000 $205,000 $885,000 $74,000 $372,000
Black or African American 435 $96,975,000 $222,000 $800,000 $74,000 $280,000
Hispanic 330 $85,763,000 $259,000 $1,000,000 $84,000 $720,000
Asian 93 $27,307,000 $293,000 $860,000 $111,000 $392,000
Native Hawaiin or Other Pacific Islander 17 $4,066,000 $239,000 $531,000 $98,000 $168,000
American Indian or Alaskan Native 7 $956,000 $136,000 $250,000 $65,000 $100,000
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) 1,900 $458,968,000 $241,000 $4,400,000 $101,000 $6,864,000
FHA-insured (Federal Housing Administration) 373 $75,919,000 $203,000 $544,000 $64,000 $190,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 3 $538,000 $179,000 $237,000 $72,000 $84,000
VA-guaranteed (Veterans Administration) 2 $510,000 $255,000 $375,000 $49,000 $98,000

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 1,008 $228,668,000 $226,000 $1,019,000 $89,000 $2,806,000
Application Withdrawn By Applicant 763 $173,352,000 $227,000 $1,440,000 $93,000 $1,200,000
Application Denied By Financial Institution 283 $81,314,000 $287,000 $4,400,000 $120,000 $6,864,000
Application Approved But Not Accepted 196 $46,614,000 $237,000 $1,000,000 $95,000 $679,000
File Closed For Incompleteness 28 $5,987,000 $213,000 $420,000 $83,000 $168,000
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 41 $9,317,000 $227,000 $455,000 $111,000 $1,386,000
Credit History 33 $10,592,000 $320,000 $930,000 $87,000 $351,000
Collateral 27 $9,394,000 $347,000 $4,400,000 $328,000 $6,864,000
Debt-To-Income Ratio 20 $4,897,000 $244,000 $413,000 $69,000 $158,000
Unverifiable Information 19 $6,928,000 $364,000 $580,000 $104,000 $270,000
Employment History 7 $2,153,000 $307,000 $1,000,000 $163,000 $414,000
Insufficient Cash (Downpayment, Closing Cost) 5 $810,000 $162,000 $354,000 $29,000 $55,000
Mortgage Insurance Denied 1 $231,000 $231,000 $231,000 $63,000 $63,000
Credit Application Incomplete 1 $208,000 $208,000 $208,000 $54,000 $54,000