Bank @Lantec Mortgage Lending & HMDA Data, 2004
In 2004, Bank @Lantec of Virginia Beach, VA reported 382 mortgage applications totaling $24.1 million. The average application was for $63,039, and applicants reported an average income of $65,293. 33% of its applications resulted in an originated loan and 26% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (321), Richmond, VA (3) and Atlanta-Sandy Springs-Marietta, GA (2) (applications in parentheses).
| 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 | 382 |
| Total Mortgage Loan Application Amount | $24,081,000 |
| Average Mortgage Loan Application Amount | $63,039 |
| Highest Mortgage Loan Application Amount | $429,000 |
| Average Applicant Income | $65,293 |
| Highest Applicant Income | $315,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Bank @Lantec in 2004
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 |
|---|---|---|---|---|---|---|
| Home Improvement | 198 | $6,410,000 | $26,333 | $285,000 | $80,000 | $315,000 |
| Refinancing | 108 | $8,935,000 | $128,666 | $429,000 | $73,000 | $315,000 |
| Home Purchase | 76 | $8,736,000 | $86,000 | $350,000 | $59,000 | $105,000 |
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 | 213 | $13,751,000 | $91,285 | $429,000 | $76,428 | $315,000 |
| Not Provided | 92 | $4,695,000 | $58,000 | $250,000 | $47,000 | $133,000 |
| Black or African American | 54 | $4,042,000 | $90,500 | $236,000 | $60,000 | $105,000 |
| Asian | 17 | $1,327,000 | $78,000 | $221,000 | $60,000 | $117,000 |
| Hispanic | 6 | $266,000 | $32,000 | $90,000 | $46,000 | $118,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 377 | $23,371,000 | $86,285 | $429,000 | $71,714 | $315,000 |
| VA-guaranteed (Veterans Administration) | 5 | $710,000 | $142,500 | $220,000 | $60,000 | $67,000 |
| 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 |
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 | 125 | $5,379,000 | $46,000 | $285,000 | $92,500 | $155,000 |
| Application Withdrawn By Applicant | 105 | $8,845,000 | $77,750 | $350,000 | $52,500 | $315,000 |
| Application Denied By Financial Institution | 98 | $6,342,000 | $71,600 | $429,000 | $70,800 | $315,000 |
| File Closed For Incompleteness | 35 | $2,676,000 | $113,000 | $280,000 | $65,333 | $148,000 |
| Application Approved But Not Accepted | 19 | $839,000 | $44,000 | $160,000 | $61,000 | $105,000 |
| 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 | 47 | $2,877,000 | $44,250 | $224,000 | $58,000 | $194,000 |
| Debt-To-Income Ratio | 26 | $1,344,000 | $93,500 | $236,000 | $48,500 | $117,000 |
| Collateral | 12 | $676,000 | $56,000 | $236,000 | $61,000 | $96,000 |
| Credit Application Incomplete | 6 | $985,000 | $173,000 | $429,000 | $119,333 | $315,000 |
| Other | 5 | $347,000 | $60,000 | $156,000 | $60,000 | $67,000 |
| Unverifiable Information | 1 | $88,000 | $88,000 | $88,000 | $36,000 | $36,000 |
| Employment History | 1 | $25,000 | $25,000 | $25,000 | $30,000 | $30,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bank @Lantec's 2004 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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