Bank @Lantec Mortgage Lending & HMDA Data, 2005
In 2005, Bank @Lantec of Virginia Beach, VA reported 224 mortgage applications totaling $34.6 million, down 41% from 2004. The average application was for $154,611, and applicants reported an average income of $82,772. 85% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (205), Richmond, VA (3) and Danville, VA (1) (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 | 224 |
| Total Mortgage Loan Application Amount | $34,633,000 |
| Average Mortgage Loan Application Amount | $154,611 |
| Highest Mortgage Loan Application Amount | $920,000 |
| Average Applicant Income | $82,772 |
| Highest Applicant Income | $477,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2005
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 | 141 | $21,595,000 | $153,000 | $614,000 | $75,000 | $248,000 |
| Home Improvement | 42 | $2,162,000 | $50,500 | $450,000 | $69,500 | $173,000 |
| Home Purchase | 41 | $10,876,000 | $270,500 | $920,000 | $169,500 | $477,000 |
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 | 144 | $24,194,000 | $221,000 | $920,000 | $157,000 | $477,000 |
| Not Provided | 34 | $3,443,000 | $101,000 | $525,000 | $75,000 | $200,000 |
| Black or African American | 26 | $3,421,000 | $131,000 | $339,000 | $74,000 | $118,000 |
| Asian | 12 | $2,041,000 | $170,000 | $524,000 | $109,000 | $270,000 |
| Hispanic | 7 | $1,504,000 | $146,000 | $420,000 | $71,500 | $127,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $30,000 | $30,000 | $30,000 | $68,000 | $68,000 |
| 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) | 224 | $34,633,000 | $186,500 | $920,000 | $135,500 | $477,000 |
| 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 | 190 | $30,396,000 | $204,500 | $920,000 | $164,000 | $477,000 |
| Application Withdrawn By Applicant | 19 | $2,825,000 | $139,000 | $420,000 | $52,500 | $134,000 |
| Application Approved But Not Accepted | 9 | $1,042,000 | $115,000 | $510,000 | $80,000 | $230,000 |
| Application Denied By Financial Institution | 6 | $370,000 | $61,000 | $165,000 | $55,000 | $91,000 |
| 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 | 3 | $164,000 | $54,000 | $70,000 | $63,000 | $91,000 |
| Debt-To-Income Ratio | 3 | $206,000 | $68,000 | $165,000 | $47,000 | $75,000 |
| 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 2005 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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