Bank @Lantec Mortgage Lending & HMDA Data, 2010
In 2010, Bank @Lantec of Virginia Beach, VA reported 17 mortgage applications totaling $1.2 million, down 41% from 2009. The average application was for $73,352, and applicants reported an average income of $82,941. 59% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (16) and Richmond, VA (1).
| Mortgage Company & Address | Bank @Lantec 501 S. Independence Blvd Virginia Beach, VA 23452 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 17 |
| Total Mortgage Loan Application Amount | $1,247,000 |
| Average Mortgage Loan Application Amount | $73,352 |
| Highest Mortgage Loan Application Amount | $230,000 |
| Average Applicant Income | $82,941 |
| Highest Applicant Income | $171,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Chesapeake, Virginia | 6 | $ 264,000 | $ 44,000 | $ 76,000 |
| Norfolk, Virginia | 4 | $ 472,000 | $ 118,000 | $ 99,000 |
| Virginia Beach, Virginia | 4 | $ 178,000 | $ 44,500 | $ 96,000 |
| Chesterfield, Virginia | 1 | $ 145,000 | $ 145,000 | $ 32,000 |
| Portsmouth, Virginia | 1 | $ 90,000 | $ 90,000 | $ 86,000 |
| Suffolk, Virginia | 1 | $ 98,000 | $ 98,000 | $ 63,000 |
Mortgage Loan Application Detail Totals for Bank @Lantec in 2010
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 | 12 | $1,105,000 | $92,000 | $230,000 | $80,000 | $171,000 |
| Home Improvement | 5 | $142,000 | $28,000 | $50,000 | $90,000 | $153,000 |
| Home Purchase | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 10 | $739,000 | $73,000 | $230,000 | $76,000 | $118,000 |
| Black or African American | 5 | $258,000 | $51,000 | $87,000 | $116,000 | $171,000 |
| Not Provided | 2 | $250,000 | $125,000 | $145,000 | $40,000 | $48,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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 |
| 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) | 17 | $1,247,000 | $73,000 | $230,000 | $83,000 | $171,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 10 | $613,000 | $61,000 | $105,000 | $88,000 | $171,000 |
| Application Withdrawn By Applicant | 4 | $389,000 | $97,000 | $230,000 | $96,000 | $153,000 |
| Application Denied By Financial Institution | 3 | $245,000 | $81,000 | $145,000 | $50,000 | $86,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 3 | $245,000 | $81,000 | $145,000 | $50,000 | $86,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bank @Lantec's 2010 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Bank @Lantec's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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