AllMortgageDetail - Mortgage Application Details

Warren Bank Mortgage Company
Mortgage Loan Application
Totals and Details
for 2008

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Mortgage Company & Address Warren Bank Mortgage Company
38880 Garfield
Clinton Township, MI 48038
Federal Regulator Federal Reserve System (FRS)
Years 2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,956
Total Mortgage Loan Application Amount $396,079,000
Average Mortgage Loan Application Amount $130,828
Highest Mortgage Loan Application Amount $1,800,000
Average Applicant Income $61,609
Highest Applicant Income $1,920,000

Mortgage Loan Application Detail Totals for Warren Bank Mortgage Company in 2008

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 1,754 $214,245,000 $122,000 $990,000 $61,000 $1,029,000
Refinancing 1,189 $180,328,000 $151,000 $1,800,000 $68,000 $1,920,000
Home Improvement 25 $3,006,000 $120,000 $265,000 $66,000 $143,000

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 2,521 $339,673,000 $134,000 $1,800,000 $64,000 $1,920,000
Black or African American 283 $32,321,000 $114,000 $990,000 $55,000 $264,000
Hispanic 61 $6,717,000 $110,000 $277,000 $54,000 $146,000
Asian 58 $12,224,000 $210,000 $417,000 $93,000 $288,000
Not Provided 29 $4,622,000 $159,000 $417,000 $69,000 $159,000
American Indian or Alaskan Native 11 $1,290,000 $117,000 $262,000 $70,000 $130,000
Native Hawaiin or Other Pacific Islander 5 $732,000 $146,000 $201,000 $67,000 $135,000
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
FHA-insured (Federal Housing Administration) 1,593 $201,464,000 $126,000 $348,000 $51,000 $594,000
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 1,061 $160,687,000 $151,000 $1,800,000 $88,000 $1,920,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 235 $23,048,000 $98,000 $239,000 $41,000 $110,000
VA-guaranteed (Veterans Administration) 79 $12,380,000 $156,000 $424,000 $62,000 $148,000

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 2,063 $272,175,000 $131,000 $854,000 $63,000 $1,920,000
Application Denied By Financial Institution 459 $63,468,000 $138,000 $1,800,000 $68,000 $1,235,000
Application Approved But Not Accepted 361 $49,785,000 $137,000 $417,000 $62,000 $365,000
File Closed For Incompleteness 53 $6,472,000 $122,000 $366,000 $54,000 $157,000
Application Withdrawn By Applicant 20 $4,179,000 $208,000 $840,000 $107,000 $408,000
Preapproval Denied by Financial Institution 12 $1,500,000 $125,000 $250,000 $69,000 $320,000
Loan Purchased By The Institution 0 $0 $0 $0 $0 $0
Preapproval Approved but not Accepted 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
Collateral 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Credit History 0 $0 $0 $0 $0 $0
Debt-To-Income Ratio 0 $0 $0 $0 $0 $0
Employment History 0 $0 $0 $0 $0 $0
Insufficient Cash (Downpayment, Closing Cost) 0 $0 $0 $0 $0 $0
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
Other 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0