In 2010, lenders reported 115 mortgage applications in Wrangell-Petersburg, AK totaling $19.5 million, down 11% from 2009. The average application was for $169,000, and applicants reported an average income of $67,000. 46% of applications resulted in an originated loan and 19% were denied. The most active lender was Wells Fargo Bank, NA, with 70 applications, followed by Alaska USA Mortgage Co., LLC and Residential Mortgage, LLC.
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| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 115 |
| Total Mortgage Loan Application Amount | $19,490,000 |
| Average Mortgage Loan Application Amount | $169,000 |
| Highest Mortgage Loan Application Amount | $626,000 |
| Average Applicant Income | $67,000 |
| Highest Applicant Income | $240,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Wells Fargo Bank, NA 100 N MAIN STREET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 608,778,000,000 | 70 | $ 11,664,000 |
| Alaska USA Mortgage Co., LLC PO BOX 196850 ANCHORAGE, AK 99519 |
* | $ 1,485,079,000 | 10 | $ 1,548,000 |
| Residential Mortgage, LLC 100 CALAIS DRIVE ANCHORAGE, AK 99515 |
* | $ 10,000,000 | 6 | $ 1,079,000 |
| Wells Fargo Funding, Inc 100 N MAIN STREEET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 25,457,000 | 5 | $ 855,000 |
| Bank of America, N.A. 4500 PARK GRANADA CALABASAS, CA 91302 |
* | $ 1,465,221,449,000 | 3 | $ 578,000 |
| US Bank, N.A. 777 EAST WISCONSIN AVE MILWAUKEE, WI 53202 |
* | $ 276,376,130,000 | 3 | $ 579,000 |
| Northrim Bank 3111 C STREET ANCHORAGE, AK 99503 |
* | $ 999,041,000 | 2 | $ 303,000 |
| Ally Bank F/K/A/ Gmac Bank 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 55,302,902,000 | 1 | $ 183,000 |
| Ifreedom Direct Corporation 124 N. CHARLES LINDBERGH DRIVE SLC, UT 84116 |
* | $ 10,000,000 | 1 | $ 260,000 |
| American Pacific Mortgage Corporation 3000 LAVA RIDGE COURT, SUITE 200 ROSEVILLE, CA 95661 |
* | $ 10,000,000 | 1 | $ 305,000 |
| Home Savings of America 35 E BROADWAY LITTLE FALLS, MN 56345 |
* | $ 477,531,000 | 1 | $ 214,000 |
| Frost National Bank 100 W. HOUSTON T-5 SAN ANTONIO, TX 78205 |
* | $ 16,343,663,000 | 1 | $ 15,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 37,922,355,000 | 1 | $ 183,000 |
| Flagstar Bank 5151 CORPORATE DR TROY, MI 48098 |
* | $ 14,483,100,000 | 1 | $ 206,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 1,627,684,000,000 | 1 | $ 165,000 |
| State Farm Bank 1 STATE FARM PLAZA BLOOMINGTON, IL 61710 |
* | $ 16,157,711,000 | 1 | $ 142,000 |
| Ing Bank, FSB 1 SOUTH ORANGE STREET WILMINGTON, DE 19801 |
* | $ 90,293,933,000 | 1 | $ 120,000 |
| Gmac Mortgage LLC 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 31,000,000 | 1 | $ 183,000 |
| American Internet Mortgage, Inc. 4121 CAMINO DEL RIO SOUTH SAN DIEGO, CA 92108 |
* | $ 10,000,000 | 1 | $ 186,000 |
| Access National Mortgage Corp 1800 ROBERT FULTON DR, SUITE 350 RESTON, VA 20191 |
* | $ 10,000,000 | 1 | $ 224,000 |
The tables below break down 2010 mortgage applications in Wrangell-Petersburg, AK by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
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 | 63 | $11,153,000 | $177,000 | $506,000 | $74,000 | $172,000 |
| Home Purchase | 38 | $6,507,000 | $171,000 | $300,000 | $54,000 | $105,000 |
| Home Improvement | 14 | $1,830,000 | $130,000 | $626,000 | $73,000 | $240,000 |
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 | 86 | $14,632,000 | $170,000 | $626,000 | $75,000 | $240,000 |
| Not Provided | 11 | $2,220,000 | $201,000 | $506,000 | $59,000 | $172,000 |
| American Indian or Alaskan Native | 10 | $1,205,000 | $120,000 | $252,000 | $53,000 | $107,000 |
| Not applicable | 7 | $1,248,000 | $178,000 | $216,000 | $0 | $0 |
| Asian | 1 | $185,000 | $185,000 | $185,000 | $79,000 | $79,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 66 | $10,700,000 | $162,000 | $626,000 | $79,000 | $240,000 |
| FHA-insured (Federal Housing Administration) | 35 | $5,766,000 | $164,000 | $252,000 | $52,000 | $120,000 |
| VA-guaranteed (Veterans Administration) | 13 | $2,780,000 | $213,000 | $260,000 | $47,000 | $97,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $244,000 | $244,000 | $244,000 | $72,000 | $72,000 |
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 | 53 | $9,369,000 | $176,000 | $506,000 | $75,000 | $172,000 |
| Application Denied By Financial Institution | 22 | $3,223,000 | $146,000 | $626,000 | $64,000 | $240,000 |
| Application Withdrawn By Applicant | 20 | $3,601,000 | $180,000 | $626,000 | $72,000 | $240,000 |
| Loan Purchased By The Institution | 14 | $2,528,000 | $180,000 | $260,000 | $30,000 | $105,000 |
| Application Approved But Not Accepted | 5 | $687,000 | $137,000 | $214,000 | $83,000 | $132,000 |
| File Closed For Incompleteness | 1 | $82,000 | $82,000 | $82,000 | $77,000 | $77,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 8 | $637,000 | $79,000 | $245,000 | $55,000 | $85,000 |
| Debt-To-Income Ratio | 4 | $697,000 | $174,000 | $305,000 | $65,000 | $136,000 |
| Collateral | 4 | $931,000 | $232,000 | $626,000 | $110,000 | $240,000 |
| Other | 3 | $437,000 | $145,000 | $222,000 | $47,000 | $76,000 |
| Unverifiable Information | 2 | $340,000 | $170,000 | $235,000 | $46,000 | $50,000 |
| Credit Application Incomplete | 1 | $181,000 | $181,000 | $181,000 | $49,000 | $49,000 |
| 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 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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