Bank of Hanover & Trust Co Mortgage Lending & HMDA Data, 2006
In 2006, Bank of Hanover & Trust Co of Hanover, PA reported 836 mortgage applications totaling $68.4 million, down 1% from 2005. The average application was for $81,800, and applicants reported an average income of $68,468. 78% of its applications resulted in an originated loan and 12% were denied. Its largest markets were York-Hanover, PA (401), Baltimore-Towson, MD (57) and Bethesda-Gaithersburg-Frederick, MD (5) (applications in parentheses).
| Mortgage Company & Address | Bank of Hanover & Trust Co 25 Carlisle St Hanover, PA 17331 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 836 |
| Total Mortgage Loan Application Amount | $68,385,000 |
| Average Mortgage Loan Application Amount | $81,800 |
| Highest Mortgage Loan Application Amount | $1,150,000 |
| Average Applicant Income | $68,468 |
| Highest Applicant Income | $2,986,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bank of Hanover & Trust Co filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 of Hanover & Trust Co in 2006
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 | 344 | $33,314,000 | $96,000 | $1,150,000 | $72,000 | $2,986,000 |
| Home Improvement | 335 | $12,016,000 | $35,000 | $250,000 | $66,000 | $367,000 |
| Home Purchase | 157 | $23,055,000 | $146,000 | $1,139,000 | $66,000 | $372,000 |
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 | 744 | $58,804,000 | $79,000 | $1,150,000 | $72,000 | $2,986,000 |
| Not Provided | 41 | $2,175,000 | $53,000 | $400,000 | $67,000 | $203,000 |
| Not applicable | 30 | $6,110,000 | $203,000 | $1,139,000 | $0 | $0 |
| Hispanic | 14 | $857,000 | $61,000 | $210,000 | $48,000 | $101,000 |
| American Indian or Alaskan Native | 3 | $289,000 | $96,000 | $180,000 | $46,000 | $80,000 |
| Asian | 2 | $118,000 | $59,000 | $68,000 | $56,000 | $60,000 |
| Black or African American | 1 | $25,000 | $25,000 | $25,000 | $33,000 | $33,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $7,000 | $7,000 | $7,000 | $48,000 | $48,000 |
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) | 836 | $68,385,000 | $81,000 | $1,150,000 | $68,000 | $2,986,000 |
| 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 | 655 | $51,211,000 | $78,000 | $810,000 | $72,000 | $2,986,000 |
| Application Denied By Financial Institution | 103 | $8,491,000 | $82,000 | $1,150,000 | $54,000 | $336,000 |
| Application Withdrawn By Applicant | 40 | $4,832,000 | $120,000 | $1,139,000 | $58,000 | $367,000 |
| Application Approved But Not Accepted | 28 | $2,765,000 | $98,000 | $300,000 | $66,000 | $276,000 |
| Preapproval Denied by Financial Institution | 9 | $1,076,000 | $119,000 | $171,000 | $36,000 | $74,000 |
| File Closed For Incompleteness | 1 | $10,000 | $10,000 | $10,000 | $27,000 | $27,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 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 of Hanover & Trust Co's 2006 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 of Hanover & Trust Co'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.
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