Bank @Lantec Mortgage Lending & HMDA Data, 2012
In 2012, Bank @Lantec of Virginia Beach, VA reported 74 mortgage applications totaling $14.2 million, about the same as 2011. The average application was for $191,864, and applicants reported an average income of $147,540. 66% of its applications resulted in an originated loan and 4% were denied. Its largest market was Virginia Beach-Norfolk-Newport News, VA-NC (71).
| 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 | 74 |
| Total Mortgage Loan Application Amount | $14,198,000 |
| Average Mortgage Loan Application Amount | $191,864 |
| Highest Mortgage Loan Application Amount | $756,000 |
| Average Applicant Income | $147,540 |
| Highest Applicant Income | $810,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Virginia Beach, Virginia | 40 | $ 8,384,000 | $ 209,600 | $ 142,000 |
| Chesapeake, Virginia | 11 | $ 1,186,000 | $ 107,818 | $ 102,000 |
| Norfolk, Virginia | 10 | $ 1,385,000 | $ 138,500 | $ 176,000 |
| Suffolk, Virginia | 4 | $ 1,158,000 | $ 289,500 | $ 179,000 |
| James City, Virginia | 3 | $ 1,248,000 | $ 416,000 | $ 380,000 |
| Northampton, Virginia | 2 | $ 466,000 | $ 233,000 | $ 68,000 |
| Accomack, Virginia | 1 | $ 30,000 | $ 30,000 | $ 75,000 |
| Newport News, Virginia | 1 | $ 72,000 | $ 72,000 | $ 30,000 |
| Poquoson, Virginia | 1 | $ 220,000 | $ 220,000 | $ 220,000 |
| Portsmouth, Virginia | 1 | $ 49,000 | $ 49,000 | $ 15,000 |
Mortgage Loan Application Detail Totals for Bank @Lantec in 2012
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 | 63 | $10,795,000 | $171,000 | $715,000 | $135,000 | $810,000 |
| Home Purchase | 9 | $3,358,000 | $373,000 | $756,000 | $263,000 | $780,000 |
| Home Improvement | 2 | $45,000 | $22,000 | $30,000 | $23,000 | $39,000 |
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 | 52 | $8,792,000 | $169,000 | $756,000 | $125,000 | $386,000 |
| Not Provided | 9 | $2,273,000 | $252,000 | $690,000 | $297,000 | $810,000 |
| Asian | 4 | $427,000 | $106,000 | $247,000 | $97,000 | $150,000 |
| Black or African American | 4 | $933,000 | $233,000 | $571,000 | $108,000 | $188,000 |
| Hispanic | 2 | $1,371,000 | $685,000 | $715,000 | $305,000 | $310,000 |
| American Indian or Alaskan Native | 2 | $314,000 | $157,000 | $236,000 | $111,000 | $142,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $88,000 | $88,000 | $88,000 | $49,000 | $49,000 |
| 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) | 74 | $14,198,000 | $191,000 | $756,000 | $147,000 | $810,000 |
| 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 | 49 | $6,857,000 | $139,000 | $702,000 | $122,000 | $810,000 |
| Loan Purchased By The Institution | 11 | $5,072,000 | $461,000 | $756,000 | $284,000 | $780,000 |
| Application Withdrawn By Applicant | 7 | $1,172,000 | $167,000 | $607,000 | $134,000 | $570,000 |
| File Closed For Incompleteness | 4 | $611,000 | $152,000 | $299,000 | $168,000 | $306,000 |
| Application Denied By Financial Institution | 3 | $486,000 | $162,000 | $223,000 | $61,000 | $84,000 |
| 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 | $263,000 | $131,000 | $142,000 | $49,000 | $57,000 |
| Debt-To-Income Ratio | 1 | $223,000 | $223,000 | $223,000 | $84,000 | $84,000 |
| 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 2012 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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