Bank of the South - Pinnacle Mortgage Lending & HMDA Data, 2005
In 2005, Bank of the South - Pinnacle of Nashville, TN reported 642 mortgage applications totaling $79.2 million, up 15% from 2004. The average application was for $123,439, and applicants reported an average income of $68,825. 88% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Nashville-Davidson--Murfreesboro, TN (598), Myrtle Beach-Conway-North Myrtle Beach, SC (5) and Clarksville, TN-KY (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 | 642 |
| Total Mortgage Loan Application Amount | $79,248,000 |
| Average Mortgage Loan Application Amount | $123,439 |
| Highest Mortgage Loan Application Amount | $1,184,000 |
| Average Applicant Income | $68,825 |
| Highest Applicant Income | $980,000 |
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records Bank of the South - Pinnacle filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Wilson, Tennessee | 325 | $ 41,517,000 | $ 127,744 | $ 74,000 |
| Rutherford, Tennessee | 159 | $ 17,813,000 | $ 112,031 | $ 61,000 |
| Davidson, Tennessee | 78 | $ 8,472,000 | $ 108,615 | $ 81,000 |
| Sumner, Tennessee | 10 | $ 809,000 | $ 80,900 | $ 72,000 |
| Smith, Tennessee | 8 | $ 447,000 | $ 55,875 | $ 47,000 |
| Williamson, Tennessee | 8 | $ 1,912,000 | $ 239,000 | $ 149,000 |
| Trousdale, Tennessee | 6 | $ 572,000 | $ 95,333 | $ 55,000 |
| Horry, South Carolina | 5 | $ 488,000 | $ 97,600 | $ 0 |
| DeKalb, Tennessee | 4 | $ 527,000 | $ 131,750 | $ 48,000 |
| Jackson, Tennessee | 2 | $ 108,000 | $ 54,000 | $ 26,000 |
| Robertson, Tennessee | 2 | $ 228,000 | $ 114,000 | $ 50,000 |
| Bay, Florida | 1 | $ 335,000 | $ 335,000 | $ 57,000 |
| Bledsoe, Tennessee | 1 | $ 52,000 | $ 52,000 | $ 23,000 |
| Cheatham, Tennessee | 1 | $ 100,000 | $ 100,000 | $ 0 |
| Macon, Tennessee | 1 | $ 169,000 | $ 169,000 | $ 93,000 |
| Marshall, Tennessee | 1 | $ 155,000 | $ 155,000 | $ 120,000 |
| Montgomery, Tennessee | 1 | $ 1,184,000 | $ 1,184,000 | $ 0 |
| Perry, Tennessee | 1 | $ 68,000 | $ 68,000 | $ 44,000 |
| Putnam, Tennessee | 1 | $ 64,000 | $ 64,000 | $ 168,000 |
| Sevier, Tennessee | 1 | $ 272,000 | $ 272,000 | $ 0 |
| Shelby, Tennessee | 1 | $ 106,000 | $ 106,000 | $ 35,000 |
| Van Buren, Tennessee | 1 | $ 64,000 | $ 64,000 | $ 23,000 |
| Warren, Tennessee | 1 | $ 65,000 | $ 65,000 | $ 17,000 |
Mortgage Loan Application Detail Totals for Bank of the South - Pinnacle in 2005
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 | 330 | $43,070,000 | $178,500 | $500,000 | $44,750 | $980,000 |
| Refinancing | 242 | $34,193,000 | $176,500 | $1,184,000 | $79,500 | $405,000 |
| Home Improvement | 70 | $1,985,000 | $28,000 | $169,000 | $58,000 | $608,000 |
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 | 574 | $70,011,000 | $205,666 | $850,000 | $64,666 | $980,000 |
| Not applicable | 25 | $3,586,000 | $125,500 | $1,184,000 | $0 | $0 |
| Black or African American | 19 | $2,291,000 | $139,000 | $272,000 | $60,500 | $136,000 |
| Asian | 10 | $1,653,000 | $156,000 | $325,000 | $59,000 | $194,000 |
| Hispanic | 9 | $1,270,000 | $141,000 | $280,000 | $71,000 | $176,000 |
| Not Provided | 3 | $186,000 | $62,000 | $108,000 | $38,000 | $76,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $123,000 | $123,000 | $123,000 | $58,000 | $58,000 |
| American Indian or Alaskan Native | 1 | $128,000 | $128,000 | $128,000 | $109,000 | $109,000 |
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) | 538 | $65,375,000 | $183,500 | $1,184,000 | $47,000 | $980,000 |
| FHA-insured (Federal Housing Administration) | 86 | $10,861,000 | $133,000 | $229,000 | $49,500 | $116,000 |
| VA-guaranteed (Veterans Administration) | 18 | $3,012,000 | $136,000 | $306,000 | $66,000 | $154,000 |
| 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 | 567 | $67,580,000 | $183,333 | $1,184,000 | $43,666 | $980,000 |
| Application Approved But Not Accepted | 34 | $6,417,000 | $184,500 | $850,000 | $73,500 | $356,000 |
| Application Denied By Financial Institution | 20 | $2,362,000 | $118,000 | $532,000 | $35,000 | $96,000 |
| Application Withdrawn By Applicant | 11 | $1,165,000 | $116,500 | $215,000 | $57,000 | $155,000 |
| Preapproval Approved but not Accepted | 7 | $1,110,000 | $158,000 | $370,000 | $53,000 | $173,000 |
| File Closed For Incompleteness | 2 | $544,000 | $272,000 | $439,000 | $126,000 | $196,000 |
| Preapproval Denied by Financial Institution | 1 | $70,000 | $70,000 | $70,000 | $36,000 | $36,000 |
| 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 2005 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.
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with aggregated HMDA statistics today.
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