Bank @Lantec Mortgage Lending & HMDA Data, 2007
In 2007, Bank @Lantec of Virginia Beach, VA reported 49 mortgage applications totaling $4.6 million, down 58% from 2006. The average application was for $93,306, and applicants reported an average income of $84,040. 59% of its applications resulted in an originated loan and 18% were denied. Its largest market was Virginia Beach-Norfolk-Newport News, VA-NC (43).
| 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 | 49 |
| Total Mortgage Loan Application Amount | $4,572,000 |
| Average Mortgage Loan Application Amount | $93,306 |
| Highest Mortgage Loan Application Amount | $400,000 |
| Average Applicant Income | $84,040 |
| Highest Applicant Income | $442,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Virginia Beach-Norfolk-Newport News, VA-NC | 43 | $ 3,355,000 | $ 78,023 | $ 84,000 |
Mortgage Loan Application Detail Totals for Bank @Lantec in 2007
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 | 22 | $2,351,000 | $106,000 | $400,000 | $76,000 | $162,000 |
| Home Improvement | 20 | $1,090,000 | $54,000 | $235,000 | $95,000 | $442,000 |
| Home Purchase | 7 | $1,131,000 | $161,000 | $380,000 | $78,000 | $163,000 |
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 | 32 | $2,828,000 | $88,000 | $380,000 | $92,000 | $442,000 |
| Black or African American | 8 | $1,018,000 | $127,000 | $400,000 | $81,000 | $131,000 |
| Asian | 4 | $526,000 | $131,000 | $250,000 | $63,000 | $110,000 |
| Not Provided | 3 | $105,000 | $35,000 | $50,000 | $56,000 | $86,000 |
| Hispanic | 1 | $25,000 | $25,000 | $25,000 | $60,000 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $70,000 | $70,000 | $70,000 | $44,000 | $44,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 49 | $4,572,000 | $93,000 | $400,000 | $84,000 | $442,000 |
| 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 | 29 | $2,018,000 | $69,000 | $235,000 | $97,000 | $442,000 |
| Application Withdrawn By Applicant | 10 | $1,475,000 | $147,000 | $380,000 | $79,000 | $163,000 |
| Application Denied By Financial Institution | 9 | $1,054,000 | $117,000 | $400,000 | $53,000 | $100,000 |
| Application Approved But Not Accepted | 1 | $25,000 | $25,000 | $25,000 | $49,000 | $49,000 |
| 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 | 6 | $953,000 | $158,000 | $400,000 | $65,000 | $100,000 |
| Debt-To-Income Ratio | 3 | $101,000 | $33,000 | $40,000 | $30,000 | $36,000 |
| 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 |
| 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 2007 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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