Bank of the South - Pinnacle Mortgage Lending & HMDA Data, 2007
In 2007, Bank of the South - Pinnacle of Nashville, TN reported 632 mortgage applications totaling $92.9 million, down 18% from 2006. The average application was for $146,944, and applicants reported an average income of $79,563. 80% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Nashville-Davidson--Murfreesboro--Franklin, TN (572), Chattanooga, TN-GA (1) and Huntsville, AL (1) (applications in parentheses).
| Mortgage Company & Address | Bank of the South - Pinnacle 211 Commerce St, Suite 300 Nashville, TN 37201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 632 |
| Total Mortgage Loan Application Amount | $92,869,000 |
| Average Mortgage Loan Application Amount | $146,944 |
| Highest Mortgage Loan Application Amount | $800,000 |
| Average Applicant Income | $79,563 |
| Highest Applicant Income | $500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bank of the South - Pinnacle filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 the South - Pinnacle in 2007
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 431 | $69,846,000 | $162,000 | $800,000 | $80,000 | $500,000 |
| Refinancing | 128 | $19,734,000 | $154,000 | $520,000 | $71,000 | $266,000 |
| Home Improvement | 73 | $3,289,000 | $45,000 | $385,000 | $92,000 | $488,000 |
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 | 580 | $85,469,000 | $147,000 | $800,000 | $81,000 | $500,000 |
| Black or African American | 22 | $3,047,000 | $138,000 | $314,000 | $69,000 | $116,000 |
| Not applicable | 11 | $1,596,000 | $145,000 | $520,000 | $0 | $0 |
| Hispanic | 8 | $1,215,000 | $151,000 | $264,000 | $62,000 | $133,000 |
| Asian | 8 | $1,165,000 | $145,000 | $325,000 | $125,000 | $276,000 |
| Not Provided | 2 | $352,000 | $176,000 | $238,000 | $76,000 | $98,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $25,000 | $25,000 | $25,000 | $30,000 | $30,000 |
| 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) | 508 | $75,394,000 | $148,000 | $800,000 | $86,000 | $500,000 |
| FHA-insured (Federal Housing Administration) | 101 | $13,874,000 | $137,000 | $229,000 | $53,000 | $240,000 |
| VA-guaranteed (Veterans Administration) | 23 | $3,601,000 | $156,000 | $342,000 | $54,000 | $149,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 504 | $74,085,000 | $146,000 | $800,000 | $83,000 | $500,000 |
| Application Approved But Not Accepted | 47 | $8,851,000 | $188,000 | $520,000 | $74,000 | $304,000 |
| Preapproval Approved but not Accepted | 40 | $6,162,000 | $154,000 | $387,000 | $59,000 | $136,000 |
| Application Denied By Financial Institution | 24 | $1,669,000 | $69,000 | $267,000 | $53,000 | $120,000 |
| Preapproval Denied by Financial Institution | 9 | $1,122,000 | $124,000 | $264,000 | $32,000 | $56,000 |
| Application Withdrawn By Applicant | 7 | $895,000 | $127,000 | $270,000 | $93,000 | $240,000 |
| File Closed For Incompleteness | 1 | $85,000 | $85,000 | $85,000 | $24,000 | $24,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| 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 the South - Pinnacle's 2007 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 the South - Pinnacle'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 Tennessee, download the full spreadsheet
with aggregated HMDA statistics today.
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