In 2009, lenders reported 129 mortgage applications in Wrangell-Petersburg, AK totaling $20.4 million, up 10% from 2008. The average application was for $157,000, and applicants reported an average income of $77,000. 36% of applications resulted in an originated loan and 19% were denied. The most active lender was Wells Fargo Bank, NA, with 94 applications, followed by Wells Fargo Funding, Inc and Residential Mortgage, LLC.
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| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 129 |
| Total Mortgage Loan Application Amount | $20,365,000 |
| Average Mortgage Loan Application Amount | $157,000 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $77,000 |
| Highest Applicant Income | $600,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Wells Fargo Bank, NA 1 HOME CAMPUS, 4TH FLOOR, MAC X2301-042 DES MOINES, IA 50328 |
* | $ 538,958,000,000 | 94 | $ 13,940,000 |
| Wells Fargo Funding, Inc 100 N MAIN STREEET MAC D4001-063 WINSTON-SALEM, NC 27150 |
* | $ 25,457,000 | 4 | $ 634,000 |
| Residential Mortgage, LLC 100 CALAIS DRIVE ANCHORAGE, AK 99515 |
* | $ 10,000,000 | 4 | $ 715,000 |
| Countrywide Bank FSB 30930 RUSSELL RANCH ROAD MS CA6-916-02-0 WESTLAKE VILLAGE, CA 91362 |
* | $ 117,978,966,000 | 3 | $ 601,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 1,746,242,000,000 | 3 | $ 710,000 |
| Bank of America, N.A. 4500 PARK GRANADA CALABASAS, CA 91302 |
* | $ 1,471,631,047,000 | 3 | $ 613,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ 32,584,979,000 | 2 | $ 341,000 |
| M&T Bank 1 M&T PLAZA -15TH FLOOR BUFFALO, NY 14203 |
* | $ 64,824,244,000 | 2 | $ 302,000 |
| Global Federal Credit Union PO BOX 196850 ANCHORAGE, AK 99503 |
* | $ 3,841,247,000 | 2 | $ 483,000 |
| American Financial Resources LLC 9 SYLVAN WAY PARSIPPANY, NJ 07054 |
* | $ 10,000,000 | 2 | $ 317,000 |
| PHH Mortgage Corporation WEST PALM BEACH, FL 33409 |
* | $ 31,000,000 | 1 | $ 281,000 |
| Qr Lending Inc 555 ZOR SHRINE PLACE MADISON, WI 53719 |
* | $ 1,093,327,000 | 1 | $ 55,000 |
| Onewest Bank, FSB 888 EAST WALNUT ST PASADENA, CA 91101 |
* | $ 36,000,000,000 | 1 | $ 136,000 |
| Suntrust Mortgage, Inc 901 SEMMES AVENUE RICHMOND, VA 23224 |
* | $ 185,098,787,000 | 1 | $ 82,000 |
| Ally Bank F/K/A/ Gmac Bank 1100 VIRGINIA DRIVE FT. WASHINGTON, PA 19034 |
* | $ 32,882,574,000 | 1 | $ 242,000 |
| Flagstar Bank 5151 CORPORATE DR TROY, MI 48098 |
* | $ 14,157,838,000 | 1 | $ 205,000 |
| Citimortgage, Inc 601 LEXINGTON AVENUE, 20TH FLOOR NEW YORK, NY 10022 |
* | $ 1,019,497,000,000 | 1 | $ 276,000 |
The tables below break down 2009 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 | 73 | $12,415,000 | $170,000 | $395,000 | $73,000 | $483,000 |
| Home Purchase | 33 | $5,802,000 | $175,000 | $417,000 | $83,000 | $600,000 |
| Home Improvement | 23 | $2,148,000 | $93,000 | $384,000 | $84,000 | $550,000 |
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 | 100 | $16,127,000 | $161,000 | $384,000 | $74,000 | $550,000 |
| American Indian or Alaskan Native | 11 | $1,306,000 | $118,000 | $212,000 | $62,000 | $88,000 |
| Not Provided | 10 | $2,018,000 | $201,000 | $417,000 | $125,000 | $600,000 |
| Asian | 3 | $385,000 | $128,000 | $262,000 | $46,000 | $97,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $30,000 | $15,000 | $15,000 | $134,000 | $161,000 |
| Not applicable | 2 | $363,000 | $181,000 | $281,000 | $16,000 | $32,000 |
| Hispanic | 1 | $136,000 | $136,000 | $136,000 | $200,000 | $200,000 |
| Black or African American | 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) | 91 | $13,596,000 | $149,000 | $417,000 | $89,000 | $600,000 |
| FHA-insured (Federal Housing Administration) | 30 | $5,458,000 | $181,000 | $274,000 | $54,000 | $97,000 |
| VA-guaranteed (Veterans Administration) | 8 | $1,311,000 | $163,000 | $281,000 | $28,000 | $105,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | $8,435,000 | $183,000 | $384,000 | $73,000 | $166,000 |
| Application Withdrawn By Applicant | 34 | $5,739,000 | $168,000 | $395,000 | $76,000 | $550,000 |
| Application Denied By Financial Institution | 24 | $2,964,000 | $123,000 | $417,000 | $108,000 | $600,000 |
| File Closed For Incompleteness | 11 | $1,026,000 | $93,000 | $180,000 | $60,000 | $132,000 |
| Loan Purchased By The Institution | 10 | $1,638,000 | $163,000 | $281,000 | $51,000 | $97,000 |
| Application Approved But Not Accepted | 4 | $563,000 | $140,000 | $172,000 | $73,000 | $110,000 |
| 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 | 9 | $196,000 | $21,000 | $100,000 | $59,000 | $161,000 |
| Collateral | 8 | $1,211,000 | $151,000 | $230,000 | $119,000 | $483,000 |
| Credit Application Incomplete | 3 | $900,000 | $300,000 | $417,000 | $279,000 | $600,000 |
| Other | 1 | $25,000 | $25,000 | $25,000 | $70,000 | $70,000 |
| Unverifiable Information | 1 | $201,000 | $201,000 | $201,000 | $86,000 | $86,000 |
| Debt-To-Income Ratio | 1 | $189,000 | $189,000 | $189,000 | $52,000 | $52,000 |
| 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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