Bank @Lantec Mortgage Lending & HMDA Data, 2015
In 2015, Bank @Lantec of Virginia Beach, VA reported 49 mortgage applications totaling $16.4 million, down 18% from 2014. The average application was for $334,142, and applicants reported an average income of $317,122. 27% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (47) and Washington-Arlington-Alexandria, DC-VA-MD-WV (2).
| 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 | 49 |
| Total Mortgage Loan Application Amount | $16,373,000 |
| Average Mortgage Loan Application Amount | $334,142 |
| Highest Mortgage Loan Application Amount | $1,334,000 |
| Average Applicant Income | $317,122 |
| Highest Applicant Income | $4,500,000 |
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Act (HMDA) records Bank @Lantec filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2015
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 | 23 | $9,504,000 | $413,000 | $1,334,000 | $542,000 | $4,500,000 |
| Home Purchase | 17 | $6,537,000 | $384,000 | $809,000 | $140,000 | $373,000 |
| Home Improvement | 9 | $332,000 | $36,000 | $100,000 | $77,000 | $186,000 |
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 | 42 | $13,946,000 | $332,000 | $1,334,000 | $349,000 | $4,500,000 |
| Not applicable | 2 | $869,000 | $434,000 | $809,000 | $0 | $0 |
| Asian | 2 | $665,000 | $332,000 | $361,000 | $266,000 | $379,000 |
| Black or African American | 2 | $188,000 | $94,000 | $138,000 | $93,000 | $108,000 |
| Not Provided | 1 | $705,000 | $705,000 | $705,000 | $168,000 | $168,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 49 | $16,373,000 | $334,000 | $1,334,000 | $317,000 | $4,500,000 |
| 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 | 28 | $12,560,000 | $448,000 | $1,334,000 | $454,000 | $4,500,000 |
| Loan Originated | 13 | $1,472,000 | $113,000 | $361,000 | $161,000 | $483,000 |
| Application Approved But Not Accepted | 3 | $1,156,000 | $385,000 | $705,000 | $130,000 | $168,000 |
| Application Denied By Financial Institution | 3 | $897,000 | $299,000 | $842,000 | $63,000 | $88,000 |
| Application Withdrawn By Applicant | 2 | $288,000 | $144,000 | $150,000 | $80,000 | $108,000 |
| 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 | $872,000 | $436,000 | $842,000 | $81,000 | $88,000 |
| Credit History | 1 | $25,000 | $25,000 | $25,000 | $29,000 | $29,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2015 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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