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City of Cuyahoga Falls, Ohio 38 <br />lH Anal sis of Impediments to Fair Housing Choice <br />Table 26 - Cuyahoga Falls Depository Institutions - Number of Branches - % Market <br />In 2002 lenders accepted 5,373 applications for mortgage loans. This includes all loan <br />purposes and types. Table 27 shows action taken on those applications. <br />Table 27 - Action on Applications 2002 <br />Year Apps Apps Apps Apps <br />Originated � Approved <br />Denied Withdrawn <br />Not Accepted <br />2002 1 68.8% 1 7.2% 1 13.2% j 8.1% <br />Closed for <br />Incompleteness <br />2.7% <br />Of the 5,373 applications received in the City 13.2% or 710 applications were denied. <br />While 68.8% of the applications were originated. <br />Over 7% of applications were approved by the lender. Applications approved but not <br />accepted are those that the consumer or borrower turns down. Often this is because loan <br />terms change, interest rate increases, fee changes or other issues that make the loan <br />