Bank @Lantec Mortgage Lending & HMDA Data, 2014
In 2014, Bank @Lantec of Virginia Beach, VA reported 60 mortgage applications totaling $18.6 million, down 13% from 2013. The average application was for $310,500, and applicants reported an average income of $144,483. 40% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (55), Richmond, VA (2) and Washington-Arlington-Alexandria, DC-VA-MD-WV (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 | 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 60 |
| Total Mortgage Loan Application Amount | $18,630,000 |
| Average Mortgage Loan Application Amount | $310,500 |
| Highest Mortgage Loan Application Amount | $1,457,000 |
| Average Applicant Income | $144,483 |
| Highest Applicant Income | $575,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 35 | $ 10,437,000 | $ 298,200 | $ 132,000 |
| Norfolk, Virginia | 10 | $ 2,728,000 | $ 272,800 | $ 166,000 |
| Chesapeake, Virginia | 7 | $ 1,606,000 | $ 229,428 | $ 134,000 |
| Suffolk, Virginia | 2 | $ 1,482,000 | $ 741,000 | $ 420,000 |
| Chesterfield, Virginia | 1 | $ 500,000 | $ 500,000 | $ 140,000 |
| Fauquier, Virginia | 1 | $ 600,000 | $ 600,000 | $ 87,000 |
| Hampton, Virginia | 1 | $ 142,000 | $ 142,000 | $ 57,000 |
| Henrico, Virginia | 1 | $ 196,000 | $ 196,000 | $ 80,000 |
| Shenandoah, Virginia | 1 | $ 122,000 | $ 122,000 | $ 155,000 |
| Spotsylvania, Virginia | 1 | $ 817,000 | $ 817,000 | $ 73,000 |
Mortgage Loan Application Detail Totals for Bank @Lantec in 2014
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 | 26 | $11,462,000 | $440,000 | $1,457,000 | $179,000 | $575,000 |
| Home Purchase | 23 | $6,974,000 | $303,000 | $654,000 | $132,000 | $258,000 |
| Home Improvement | 11 | $194,000 | $17,000 | $50,000 | $89,000 | $265,000 |
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 | 48 | $16,405,000 | $341,000 | $1,140,000 | $137,000 | $462,000 |
| Black or African American | 6 | $310,000 | $51,000 | $165,000 | $116,000 | $265,000 |
| Asian | 2 | $396,000 | $198,000 | $304,000 | $320,000 | $410,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $60,000 | $30,000 | $45,000 | $63,000 | $90,000 |
| Not Provided | 1 | $2,000 | $2,000 | $2,000 | $69,000 | $69,000 |
| Hispanic | 1 | $1,457,000 | $1,457,000 | $1,457,000 | $575,000 | $575,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 60 | $18,630,000 | $310,000 | $1,457,000 | $144,000 | $575,000 |
| 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 | 31 | $12,191,000 | $393,000 | $1,457,000 | $163,000 | $575,000 |
| Loan Originated | 24 | $5,957,000 | $248,000 | $1,140,000 | $117,000 | $462,000 |
| Application Denied By Financial Institution | 4 | $178,000 | $44,000 | $163,000 | $99,000 | $220,000 |
| Application Withdrawn By Applicant | 1 | $304,000 | $304,000 | $304,000 | $410,000 | $410,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 3 | $15,000 | $5,000 | $9,000 | $59,000 | $69,000 |
| Collateral | 1 | $163,000 | $163,000 | $163,000 | $220,000 | $220,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 2014 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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