Bay Bank & Trust Co. Mortgage Lending & HMDA Data, 2007
In 2007, Bay Bank & Trust Co. of Panama City, FL reported 243 mortgage applications totaling $46.5 million, up 66% from 2006. The average application was for $191,172, and applicants reported an average income of $122,950. 62% of its applications resulted in an originated loan and 32% were denied. Its largest market was Panama City-Lynn Haven, FL (227).
| 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 | 243 |
| Total Mortgage Loan Application Amount | $46,455,000 |
| Average Mortgage Loan Application Amount | $191,172 |
| Highest Mortgage Loan Application Amount | $1,575,000 |
| Average Applicant Income | $122,950 |
| Highest Applicant Income | $2,800,000 |
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Act (HMDA) records Bay Bank & Trust Co. filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Bay Bank & Trust Co. 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 | 121 | $23,654,000 | $195,000 | $1,575,000 | $119,000 | $1,293,000 |
| Refinancing | 112 | $22,612,000 | $201,000 | $1,500,000 | $134,000 | $2,800,000 |
| Home Improvement | 10 | $189,000 | $18,000 | $100,000 | $47,000 | $91,000 |
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 | 212 | $40,259,000 | $189,000 | $1,500,000 | $118,000 | $2,800,000 |
| Not applicable | 11 | $3,848,000 | $349,000 | $1,575,000 | $330,000 | $1,293,000 |
| Black or African American | 11 | $1,338,000 | $121,000 | $187,000 | $49,000 | $95,000 |
| Not Provided | 4 | $278,000 | $69,000 | $123,000 | $38,000 | $58,000 |
| Hispanic | 2 | $325,000 | $162,000 | $260,000 | $128,000 | $128,000 |
| Asian | 2 | $167,000 | $83,000 | $92,000 | $104,000 | $194,000 |
| American Indian or Alaskan Native | 1 | $240,000 | $240,000 | $240,000 | $82,000 | $82,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 212 | $43,038,000 | $203,000 | $1,575,000 | $135,000 | $2,800,000 |
| FHA-insured (Federal Housing Administration) | 27 | $2,877,000 | $106,000 | $240,000 | $41,000 | $95,000 |
| VA-guaranteed (Veterans Administration) | 4 | $540,000 | $135,000 | $167,000 | $46,000 | $80,000 |
| 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 | 151 | $28,998,000 | $192,000 | $1,575,000 | $129,000 | $1,293,000 |
| Application Denied By Financial Institution | 77 | $14,929,000 | $193,000 | $1,500,000 | $122,000 | $2,800,000 |
| Application Approved But Not Accepted | 13 | $2,039,000 | $156,000 | $289,000 | $71,000 | $283,000 |
| Application Withdrawn By Applicant | 2 | $489,000 | $244,000 | $359,000 | $51,000 | $80,000 |
| 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 | 30 | $4,253,000 | $141,000 | $667,000 | $76,000 | $493,000 |
| Debt-To-Income Ratio | 21 | $2,938,000 | $139,000 | $245,000 | $42,000 | $97,000 |
| Collateral | 10 | $2,393,000 | $239,000 | $756,000 | $103,000 | $488,000 |
| Credit Application Incomplete | 10 | $3,281,000 | $328,000 | $1,500,000 | $385,000 | $2,800,000 |
| Employment History | 4 | $1,204,000 | $301,000 | $760,000 | $243,000 | $434,000 |
| Unverifiable Information | 2 | $860,000 | $430,000 | $600,000 | $180,000 | $360,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bay Bank & Trust Co.'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 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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