Bank of the South - Pinnacle Mortgage Lending & HMDA Data, 2003
In 2003, Bank of the South - Pinnacle of Nashville, TN reported 692 mortgage applications totaling $72.3 million. The average application was for $104,410, and applicants reported an average income of $64,739. 85% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Nashville, TN (650) and Knoxville, TN (2).
| 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 | 692 |
| Total Mortgage Loan Application Amount | $72,252,000 |
| Average Mortgage Loan Application Amount | $104,410 |
| Highest Mortgage Loan Application Amount | $510,000 |
| Average Applicant Income | $64,739 |
| Highest Applicant Income | $3,060,000 |
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records Bank of the South - Pinnacle filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Nashville, TN | 650 | $ 68,210,000 | $ 104,938 | $ 68,000 |
| Knoxville, TN | 2 | $ 230,000 | $ 115,000 | $ 120,000 |
Mortgage Loan Application Detail Totals for Bank of the South - Pinnacle in 2003
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 (home purchase or home improvement, one-to-four family) | 367 | $43,150,000 | $117,000 | $510,000 | $65,000 | $3,060,000 |
| Home Purchase (one-to-four family) | 251 | $27,242,000 | $108,000 | $500,000 | $69,000 | $968,000 |
| Home Improvement (one-to-four family) | 74 | $1,860,000 | $25,000 | $162,000 | $49,000 | $190,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 645 | $67,860,000 | $105,000 | $510,000 | $74,000 | $3,060,000 |
| Not applicable | 17 | $1,740,000 | $102,000 | $374,000 | $0 | $0 |
| Black | 13 | $1,168,000 | $89,000 | $259,000 | $51,000 | $148,000 |
| Hispanic | 6 | $546,000 | $91,000 | $177,000 | $56,000 | $120,000 |
| Other | 4 | $305,000 | $76,000 | $105,000 | $58,000 | $128,000 |
| Asian or Pacific Islander | 3 | $350,000 | $116,000 | $130,000 | $37,000 | $46,000 |
| American Indian or Alaskan Native | 2 | $161,000 | $80,000 | $156,000 | $58,000 | $61,000 |
| Information not provided by applicant in mail or telephone application | 2 | $122,000 | $61,000 | $120,000 | $59,000 | $93,000 |
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) | 616 | $63,413,000 | $102,000 | $510,000 | $69,000 | $3,060,000 |
| FHA-insured (Federal Housing Administration) | 62 | $7,187,000 | $115,000 | $182,000 | $45,000 | $119,000 |
| VA-guaranteed (Veterans Administration) | 14 | $1,652,000 | $118,000 | $203,000 | $51,000 | $113,000 |
| 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 | 590 | $61,671,000 | $104,000 | $510,000 | $73,000 | $3,060,000 |
| Application Denied By Financial Institution | 47 | $3,967,000 | $84,000 | $380,000 | $45,000 | $108,000 |
| Application Withdrawn By Applicant | 44 | $5,254,000 | $119,000 | $290,000 | $50,000 | $210,000 |
| Application Approved But Not Accepted | 11 | $1,360,000 | $123,000 | $250,000 | $58,000 | $137,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2003 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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