Bank @Lantec Mortgage Lending & HMDA Data, 2016
In 2016, Bank @Lantec of Virginia Beach, VA reported 39 mortgage applications totaling $10.4 million, down 20% from 2015. The average application was for $265,974, and applicants reported an average income of $163,769. 23% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (35) and Richmond, VA (3).
| 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 | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 39 |
| Total Mortgage Loan Application Amount | $10,373,000 |
| Average Mortgage Loan Application Amount | $265,974 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $163,769 |
| Highest Applicant Income | $639,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2016
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 Purchase | 23 | $7,872,000 | $342,000 | $800,000 | $221,000 | $639,000 |
| Refinancing | 12 | $2,361,000 | $196,000 | $576,000 | $79,000 | $180,000 |
| Home Improvement | 4 | $140,000 | $35,000 | $50,000 | $89,000 | $122,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 24 | $7,906,000 | $329,000 | $800,000 | $159,000 | $639,000 |
| White | 11 | $2,245,000 | $204,000 | $613,000 | $197,000 | $600,000 |
| Native Hawaiin or Other Pacific Islander | 1 | $72,000 | $72,000 | $72,000 | $71,000 | $71,000 |
| American Indian or Alaskan Native | 1 | $60,000 | $60,000 | $60,000 | $162,000 | $162,000 |
| Asian | 1 | $50,000 | $50,000 | $50,000 | $92,000 | $92,000 |
| Black or African American | 1 | $40,000 | $40,000 | $40,000 | $78,000 | $78,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 39 | $10,373,000 | $265,000 | $800,000 | $164,000 | $639,000 |
| 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 Purchased By The Institution | 24 | $8,459,000 | $352,000 | $800,000 | $169,000 | $639,000 |
| Loan Originated | 9 | $1,372,000 | $152,000 | $390,000 | $201,000 | $600,000 |
| Application Denied By Financial Institution | 4 | $427,000 | $106,000 | $329,000 | $95,000 | $180,000 |
| Application Withdrawn By Applicant | 1 | $65,000 | $65,000 | $65,000 | $53,000 | $53,000 |
| File Closed For Incompleteness | 1 | $50,000 | $50,000 | $50,000 | $92,000 | $92,000 |
| Application Approved But Not Accepted | 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 | 2 | $50,000 | $25,000 | $40,000 | $93,000 | $122,000 |
| Debt-To-Income Ratio | 2 | $377,000 | $188,000 | $329,000 | $96,000 | $180,000 |
| 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 2016 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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