Bank @Lantec Mortgage Lending & HMDA Data, 2013
In 2013, Bank @Lantec of Virginia Beach, VA reported 69 mortgage applications totaling $16.0 million, down 7% from 2012. The average application was for $232,115, and applicants reported an average income of $136,681. 52% of its applications resulted in an originated loan and 6% were denied. Its largest market was Virginia Beach-Norfolk-Newport News, VA-NC (68).
| 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 | 69 |
| Total Mortgage Loan Application Amount | $16,016,000 |
| Average Mortgage Loan Application Amount | $232,115 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $136,681 |
| Highest Applicant Income | $550,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 39 | $ 11,035,000 | $ 282,948 | $ 155,000 |
| Chesapeake, Virginia | 14 | $ 1,179,000 | $ 84,214 | $ 90,000 |
| Norfolk, Virginia | 10 | $ 1,223,000 | $ 122,300 | $ 93,000 |
| Portsmouth, Virginia | 2 | $ 494,000 | $ 247,000 | $ 237,000 |
| Currituck, North Carolina | 1 | $ 1,500,000 | $ 1,500,000 | $ 452,000 |
| Dare, North Carolina | 1 | $ 383,000 | $ 383,000 | $ 132,000 |
| Isle of Wight, Virginia | 1 | $ 6,000 | $ 6,000 | $ 25,000 |
| Suffolk, Virginia | 1 | $ 196,000 | $ 196,000 | $ 106,000 |
Mortgage Loan Application Detail Totals for Bank @Lantec in 2013
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 | 37 | $10,278,000 | $277,000 | $1,500,000 | $131,000 | $493,000 |
| Home Purchase | 17 | $5,250,000 | $308,000 | $782,000 | $222,000 | $550,000 |
| Home Improvement | 15 | $488,000 | $32,000 | $98,000 | $54,000 | $121,000 |
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 | 49 | $14,382,000 | $293,000 | $1,500,000 | $170,000 | $550,000 |
| Asian | 7 | $1,094,000 | $156,000 | $369,000 | $81,000 | $147,000 |
| Black or African American | 7 | $289,000 | $41,000 | $115,000 | $48,000 | $89,000 |
| Not Provided | 3 | $76,000 | $25,000 | $50,000 | $49,000 | $75,000 |
| Hispanic | 2 | $81,000 | $40,000 | $80,000 | $28,000 | $29,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $94,000 | $94,000 | $94,000 | $36,000 | $36,000 |
| 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) | 69 | $16,016,000 | $232,000 | $1,500,000 | $137,000 | $550,000 |
| 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 | 36 | $4,579,000 | $127,000 | $1,500,000 | $89,000 | $452,000 |
| Loan Purchased By The Institution | 23 | $10,452,000 | $454,000 | $890,000 | $245,000 | $550,000 |
| Application Withdrawn By Applicant | 6 | $669,000 | $111,000 | $265,000 | $75,000 | $120,000 |
| Application Denied By Financial Institution | 4 | $316,000 | $79,000 | $141,000 | $46,000 | $71,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 2 | $261,000 | $130,000 | $141,000 | $44,000 | $71,000 |
| Collateral | 1 | $20,000 | $20,000 | $20,000 | $47,000 | $47,000 |
| Credit History | 1 | $35,000 | $35,000 | $35,000 | $50,000 | $50,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bank @Lantec's 2013 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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