Bay Net A Community Bank Mortgage Lending & HMDA Data, 2004
In 2004, Bay Net A Community Bank of Bel Air, MD reported 57 mortgage applications totaling $7.7 million, down 34% from 2003. The average application was for $134,333, and applicants reported an average income of $115,824. 84% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Baltimore-Towson, MD (21), Wilmington, DE-MD-NJ (3) and York-Hanover, PA (1) (applications in parentheses).
| Mortgage Company & Address | Bay Net A Community Bank 126 N. Main Street Bel Air, MD 21014 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2005 2004 2003 |
| Total Number of Mortgage Applications | 57 |
| Total Mortgage Loan Application Amount | $7,657,000 |
| Average Mortgage Loan Application Amount | $134,333 |
| Highest Mortgage Loan Application Amount | $685,000 |
| Average Applicant Income | $115,824 |
| Highest Applicant Income | $1,723,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bay Net A Community Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Net A Community Bank in 2004
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 | 35 | $4,830,000 | $138,000 | $685,000 | $138,000 | $332,000 |
| Refinancing | 17 | $2,222,000 | $139,500 | $340,000 | $87,000 | $1,723,000 |
| Home Improvement | 5 | $605,000 | $121,000 | $200,000 | $97,000 | $144,000 |
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 | 43 | $5,646,000 | $137,666 | $685,000 | $116,666 | $1,723,000 |
| Not applicable | 11 | $1,733,000 | $158,000 | $585,000 | $158,500 | $312,000 |
| Not Provided | 1 | $200,000 | $200,000 | $200,000 | $72,000 | $72,000 |
| American Indian or Alaskan Native | 1 | $50,000 | $50,000 | $50,000 | $29,000 | $29,000 |
| Black or African American | 1 | $28,000 | $28,000 | $28,000 | $31,000 | $31,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 57 | $7,657,000 | $140,666 | $685,000 | $110,666 | $1,723,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 48 | $6,176,000 | $138,666 | $685,000 | $115,000 | $1,723,000 |
| Application Approved But Not Accepted | 3 | $318,000 | $106,000 | $153,000 | $92,000 | $144,000 |
| Application Denied By Financial Institution | 3 | $448,000 | $149,000 | $340,000 | $88,000 | $132,000 |
| Application Withdrawn By Applicant | 2 | $628,000 | $314,000 | $428,000 | $127,000 | $183,000 |
| File Closed For Incompleteness | 1 | $87,000 | $87,000 | $87,000 | $55,000 | $55,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3 | $448,000 | $149,000 | $340,000 | $88,000 | $132,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bay Net A Community Bank's 2004 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 Net A Community Bank'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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