Bay Bank & Trust Co. Mortgage Lending & HMDA Data, 2008
In 2008, Bay Bank & Trust Co. of Panama City, FL reported 116 mortgage applications totaling $16.9 million, down 52% from 2007. The average application was for $145,577, and applicants reported an average income of $84,741. 52% of its applications resulted in an originated loan and 41% were denied. Its largest market was Panama City-Lynn Haven, FL (107).
| Mortgage Company & Address | Bay Bank & Trust Co. P. O. Box 59350 Panama City, FL 32412 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 116 |
| Total Mortgage Loan Application Amount | $16,887,000 |
| Average Mortgage Loan Application Amount | $145,577 |
| Highest Mortgage Loan Application Amount | $608,000 |
| Average Applicant Income | $84,741 |
| Highest Applicant Income | $512,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bay Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Bay, Florida | 107 | $ 15,693,000 | $ 146,663 | $ 87,000 |
Mortgage Loan Application Detail Totals for Bay Bank & Trust Co. in 2008
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 | 56 | $8,170,000 | $145,000 | $440,000 | $88,000 | $512,000 |
| Refinancing | 49 | $8,605,000 | $175,000 | $608,000 | $85,000 | $505,000 |
| Home Improvement | 11 | $112,000 | $10,000 | $45,000 | $67,000 | $345,000 |
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 | 111 | $16,339,000 | $147,000 | $608,000 | $83,000 | $505,000 |
| Black or African American | 4 | $427,000 | $106,000 | $164,000 | $32,000 | $51,000 |
| Not applicable | 1 | $121,000 | $121,000 | $121,000 | $512,000 | $512,000 |
| Not Provided | 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 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 92 | $13,810,000 | $150,000 | $608,000 | $93,000 | $512,000 |
| FHA-insured (Federal Housing Administration) | 16 | $1,816,000 | $113,000 | $203,000 | $48,000 | $100,000 |
| VA-guaranteed (Veterans Administration) | 7 | $1,103,000 | $157,000 | $270,000 | $61,000 | $113,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $158,000 | $158,000 | $158,000 | $68,000 | $68,000 |
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 | 60 | $8,329,000 | $138,000 | $608,000 | $112,000 | $512,000 |
| Application Denied By Financial Institution | 47 | $7,034,000 | $149,000 | $465,000 | $57,000 | $250,000 |
| Application Approved But Not Accepted | 7 | $1,213,000 | $173,000 | $310,000 | $59,000 | $71,000 |
| Application Withdrawn By Applicant | 2 | $311,000 | $155,000 | $187,000 | $25,000 | $26,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 15 | $1,236,000 | $82,000 | $156,000 | $55,000 | $250,000 |
| Collateral | 11 | $2,141,000 | $194,000 | $417,000 | $52,000 | $91,000 |
| Credit Application Incomplete | 10 | $1,490,000 | $149,000 | $360,000 | $57,000 | $105,000 |
| Debt-To-Income Ratio | 10 | $2,024,000 | $202,000 | $465,000 | $65,000 | $239,000 |
| Employment History | 1 | $143,000 | $143,000 | $143,000 | $38,000 | $38,000 |
| 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 Bay Bank & Trust Co.'s 2008 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 Bay Bank & 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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