Beach First National Bank Mortgage Lending & HMDA Data, 2007

In 2007, Beach First National Bank of Myrtle Beach, SC reported 2,192 mortgage applications totaling $536.5 million, up 287% from 2006. The average application was for $244,747, and applicants reported an average income of $88,212. 43% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (312), Myrtle Beach-Conway-North Myrtle Beach, SC (209) and New York-White Plains-Wayne, NY-NJ (116) (applications in parentheses).

Mortgage Company & Address Beach First National Bank
3751 Grissom Parkway, Suite 100
Myrtle Beach, SC 29577
Tel #: available with data download
Federal Regulator * available with data download
Years 2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 2,192
Total Mortgage Loan Application Amount $536,486,000
Average Mortgage Loan Application Amount $244,747
Highest Mortgage Loan Application Amount $4,564,000
Average Applicant Income $88,212
Highest Applicant Income $1,560,000

About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Beach First National Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Totals for Beach First National Bank by Metropolitan Area in 2007

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Washington-Arlington-Alexandria, DC-VA-MD-WV 312 $ 96,992,000 $ 310,871 $ 95,471
Myrtle Beach-Conway-North Myrtle Beach, SC 209 $ 65,596,000 $ 313,856 $ 129,000
New York-White Plains-Wayne, NY-NJ 116 $ 40,106,000 $ 345,741 $ 60,439
Raleigh-Cary, NC 108 $ 22,933,000 $ 212,342 $ 94,000
Charlotte-Gastonia-Concord, NC-SC 75 $ 12,164,000 $ 162,186 $ 84,520
Philadelphia, PA 70 $ 13,536,000 $ 193,371 $ 48,000
Atlanta-Sandy Springs-Marietta, GA 57 $ 12,030,000 $ 211,052 $ 105,000
Bethesda-Gaithersburg-Frederick, MD 57 $ 18,362,000 $ 322,140 $ 70,000
Virginia Beach-Norfolk-Newport News, VA-NC 53 $ 12,169,000 $ 229,603 $ 83,056
Baltimore-Towson, MD 49 $ 11,982,000 $ 244,530 $ 66,000
Nassau-Suffolk, NY 47 $ 15,247,000 $ 324,404 $ 58,000
Edison, NJ 30 $ 9,067,000 $ 302,233 $ 61,000
Richmond, VA 28 $ 5,858,000 $ 209,214 $ 62,000
Newark-Union, NJ-PA 27 $ 8,572,000 $ 317,481 $ 69,074
Wilmington, NC 20 $ 8,795,000 $ 439,750 $ 158,000
Greensboro-High Point, NC 19 $ 2,829,000 $ 148,894 $ 55,000
Winston-Salem, NC 19 $ 2,388,000 $ 125,684 $ 50,000
Columbus, OH 17 $ 2,842,000 $ 167,176 $ 99,000
Camden, NJ 16 $ 3,078,000 $ 192,375 $ 49,000
Durham, NC 16 $ 3,067,000 $ 191,687 $ 67,000
Buffalo-Niagara Falls, NY 14 $ 2,070,000 $ 147,857 $ 43,000
Cincinnati-Middletown, OH-KY-IN 14 $ 1,880,000 $ 134,285 $ 65,000
Pittsburgh, PA 14 $ 2,233,000 $ 159,500 $ 29,000
Cleveland-Elyria-Mentor, OH 12 $ 2,230,000 $ 185,833 $ 82,000
Fayetteville, NC 12 $ 1,430,000 $ 119,166 $ 59,000
Greeley, CO 12 $ 2,986,000 $ 248,833 $ 66,000
Houston-Sugar Land-Baytown, TX 12 $ 2,278,000 $ 189,833 $ 142,000
Tampa-St. Petersburg-Clearwater, FL 12 $ 2,268,000 $ 189,000 $ 85,000
Allentown-Bethlehem-Easton, PA-NJ 10 $ 2,340,000 $ 234,000 $ 68,600
Charleston-North Charleston, SC 10 $ 3,594,000 $ 359,400 $ 167,000
Harrisburg-Carlisle, PA 10 $ 1,198,000 $ 119,800 $ 49,000
Lynchburg, VA 9 $ 1,259,000 $ 139,888 $ 48,000
Memphis, TN-MS-AR 9 $ 1,189,000 $ 132,111 $ 35,000
Columbia, SC 8 $ 1,535,000 $ 191,875 $ 156,000
Greenville-Mauldin-Easley, SC 8 $ 1,034,000 $ 129,250 $ 36,000
Jacksonville, FL 8 $ 2,008,000 $ 251,000 $ 64,000
Reading, PA 8 $ 1,344,000 $ 168,000 $ 46,000
Roanoke, VA 8 $ 1,605,000 $ 200,625 $ 52,000
Trenton-Ewing, NJ 8 $ 1,752,000 $ 219,000 $ 33,000
Asheville, NC 7 $ 1,875,000 $ 267,857 $ 95,000
Nashville-Davidson--Murfreesboro--Franklin, TN 7 $ 1,169,000 $ 167,000 $ 61,000
Orlando-Kissimmee, FL 7 $ 1,826,000 $ 260,857 $ 63,000
Rochester, NY 7 $ 954,000 $ 136,285 $ 19,000
Savannah, GA 7 $ 1,547,000 $ 221,000 $ 44,000
Charlottesville, VA 6 $ 1,349,000 $ 224,833 $ 96,000
Hickory-Lenoir-Morganton, NC 6 $ 1,184,000 $ 197,333 $ 82,000
Ocean City, NJ 6 $ 2,219,000 $ 369,833 $ 130,000
San Antonio, TX 6 $ 1,102,000 $ 183,666 $ 83,000
Winchester, VA-WV 6 $ 936,000 $ 156,000 $ 70,000
Akron, OH 5 $ 949,000 $ 189,800 $ 108,000
Austin-Round Rock, TX 5 $ 842,000 $ 168,400 $ 44,000
Greenville, NC 5 $ 686,000 $ 137,200 $ 85,000
Lancaster, PA 5 $ 1,015,000 $ 203,000 $ 55,000
Las Vegas-Paradise, NV 5 $ 1,680,000 $ 336,000 $ 49,000
Los Angeles-Long Beach-Glendale, CA 5 $ 1,609,000 $ 321,800 $ 90,000
Provo-Orem, UT 5 $ 1,199,000 $ 239,800 $ 65,000
Wilmington, DE-MD-NJ 5 $ 1,125,000 $ 225,000 $ 19,600
Atlantic City, NJ 4 $ 717,000 $ 179,250 $ 32,000
Bridgeport-Stamford-Norwalk, CT 4 $ 1,171,000 $ 292,750 $ 192,000
Burlington, NC 4 $ 607,000 $ 151,750 $ 41,000
Cape Coral-Fort Myers, FL 4 $ 989,000 $ 247,250 $ 143,000
Chicago-Naperville-Joliet, IL 4 $ 973,000 $ 243,250 $ 99,000
Dallas-Plano-Irving, TX 4 $ 688,000 $ 172,000 $ 97,000
Dayton, OH 4 $ 541,000 $ 135,250 $ 62,000
Erie, PA 4 $ 611,000 $ 152,750 $ 65,000
Fort Lauderdale-Pompano Beach-Deerfield Beach, FL 4 $ 812,000 $ 203,000 $ 58,000
Goldsboro, NC 4 $ 412,000 $ 103,000 $ 49,000
Hagerstown-Martinsburg, MD-WV 4 $ 1,030,000 $ 257,500 $ 88,000
Harrisonburg, VA 4 $ 620,000 $ 155,000 $ 78,000
Ogden-Clearfield, UT 4 $ 788,000 $ 197,000 $ 62,000
Phoenix-Mesa-Scottsdale, AZ 4 $ 1,290,000 $ 322,500 $ 61,000
Salt Lake City, UT 4 $ 748,000 $ 187,000 $ 74,000
Youngstown-Warren-Boardman, OH-PA 4 $ 711,000 $ 177,750 $ 66,000
Albany-Schenectady-Troy, NY 3 $ 559,000 $ 186,333 $ 75,000
Anderson, SC 3 $ 316,000 $ 105,333 $ 79,000
Augusta-Richmond County, GA-SC 3 $ 487,000 $ 162,333 $ 127,000
Blacksburg-Christiansburg-Radford, VA 3 $ 517,000 $ 172,333 $ 149,000
Boston-Quincy, MA 3 $ 802,000 $ 267,333 $ 84,000
Denver-Aurora, CO 3 $ 880,000 $ 293,333 $ 94,000
Fort Worth-Arlington, TX 3 $ 502,000 $ 167,333 $ 80,000
Grand Rapids-Wyoming, MI 3 $ 351,000 $ 117,000 $ 40,000
Kingston, NY 3 $ 756,000 $ 252,000 $ 66,000
Manchester-Nashua, NH 3 $ 437,000 $ 145,666 $ 84,000
New Haven-Milford, CT 3 $ 755,000 $ 251,666 $ 97,000
Omaha-Council Bluffs, NE-IA 3 $ 391,000 $ 130,333 $ 58,000
Providence-New Bedford-Fall River, RI-MA 3 $ 425,000 $ 141,666 $ 55,000
Sarasota-Bradenton-Venice, FL 3 $ 714,000 $ 238,000 $ 62,000
Scranton--Wilkes-Barre, PA 3 $ 466,000 $ 155,333 $ 50,000
Syracuse, NY 3 $ 194,000 $ 64,666 $ 58,000
Utica-Rome, NY 3 $ 389,000 $ 129,666 $ 43,000
York-Hanover, PA 3 $ 680,000 $ 226,666 $ 83,000
Barnstable Town, MA 2 $ 609,000 $ 304,500 $ 68,000
Baton Rouge, LA 2 $ 212,000 $ 106,000 $ 54,000
Boise City-Nampa, ID 2 $ 279,000 $ 139,500 $ 39,000
Canton-Massillon, OH 2 $ 223,000 $ 111,500 $ 61,000
Des Moines-West Des Moines, IA 2 $ 302,000 $ 151,000 $ 54,000
Dover, DE 2 $ 337,000 $ 168,500 $ 49,000
Fort Collins-Loveland, CO 2 $ 428,000 $ 214,000 $ 63,000
Hartford-West Hartford-East Hartford, CT 2 $ 573,000 $ 286,500 $ 72,000
Honolulu, HI 2 $ 297,000 $ 148,500 $ 180,000
Jackson, TN 2 $ 274,000 $ 137,000 $ 23,000
Jacksonville, NC 2 $ 142,000 $ 71,000 $ 58,000
Lake County-Kenosha County, IL-WI 2 $ 363,000 $ 181,500 $ 26,000
Louisville-Jefferson County, KY-IN 2 $ 264,000 $ 132,000 $ 69,000
Miami-Miami Beach-Kendall, FL 2 $ 306,000 $ 153,000 $ 82,000
New Orleans-Metairie-Kenner, LA 2 $ 339,000 $ 169,500 $ 83,000
Ocala, FL 2 $ 262,000 $ 131,000 $ 119,000
Panama City-Lynn Haven, FL 2 $ 398,000 $ 199,000 $ 55,000
Poughkeepsie-Newburgh-Middletown, NY 2 $ 586,000 $ 293,000 $ 18,000
Reno-Sparks, NV 2 $ 372,000 $ 186,000 $ 82,000
Rocky Mount, NC 2 $ 274,000 $ 137,000 $ 50,000
Salisbury, MD 2 $ 308,000 $ 154,000 $ 29,000
San Diego-Carlsbad-San Marcos, CA 2 $ 95,000 $ 47,500 $ 100,000
Tallahassee, FL 2 $ 600,000 $ 300,000 $ 121,000
Valdosta, GA 2 $ 253,000 $ 126,500 $ 50,000
Vineland-Millville-Bridgeton, NJ 2 $ 355,000 $ 177,500 $ 40,000
Abilene, TX 1 $ 124,000 $ 124,000 $ 99,000
Athens-Clarke County, GA 1 $ 200,000 $ 200,000 $ 50,000
Battle Creek, MI 1 $ 132,000 $ 132,000 $ 45,000
Binghamton, NY 1 $ 150,000 $ 150,000 $ 38,000
Cambridge-Newton-Framingham, MA 1 $ 213,000 $ 213,000 $ 72,000
Chattanooga, TN-GA 1 $ 143,000 $ 143,000 $ 48,000
Clarksville, TN-KY 1 $ 115,000 $ 115,000 $ 36,000
Cleveland, TN 1 $ 120,000 $ 120,000 $ 17,000
Coeur D'Alene, ID 1 $ 326,000 $ 326,000 $ 108,000
Columbus, GA-AL 1 $ 128,000 $ 128,000 $ 49,000
Danville, VA 1 $ 93,000 $ 93,000 $ 36,000
Deltona-Daytona Beach-Ormond Beach, FL 1 $ 100,000 $ 100,000 $ 0
Detroit-Livonia-Dearborn, MI 1 $ 110,000 $ 110,000 $ 304,000
El Paso, TX 1 $ 139,000 $ 139,000 $ 126,000
Florence, SC 1 $ 80,000 $ 80,000 $ 60,000
Florence-Muscle Shoals, AL 1 $ 145,000 $ 145,000 $ 63,000
Green Bay, WI 1 $ 160,000 $ 160,000 $ 70,000
Huntington-Ashland, WV-KY-OH 1 $ 230,000 $ 230,000 $ 98,000
Kingsport-Bristol-Bristol, TN-VA 1 $ 263,000 $ 263,000 $ 104,000
Lafayette, LA 1 $ 130,000 $ 130,000 $ 46,000
Lake Charles, LA 1 $ 144,000 $ 144,000 $ 54,000
Lansing-East Lansing, MI 1 $ 280,000 $ 280,000 $ 164,000
Morristown, TN 1 $ 118,000 $ 118,000 $ 48,000
Naples-Marco Island, FL 1 $ 724,000 $ 724,000 $ 307,000
Oklahoma City, OK 1 $ 78,000 $ 78,000 $ 69,000
Palm Bay-Melbourne-Titusville, FL 1 $ 168,000 $ 168,000 $ 35,000
Portland-Vancouver-Beaverton, OR-WA 1 $ 155,000 $ 155,000 $ 21,000
Prescott, AZ 1 $ 228,000 $ 228,000 $ 48,000
Rockford, IL 1 $ 195,000 $ 195,000 $ 67,000
Rockingham County-Strafford County, NH 1 $ 265,000 $ 265,000 $ 63,000
Sacramento--Arden-Arcade--Roseville, CA 1 $ 239,000 $ 239,000 $ 68,000
San Francisco-San Mateo-Redwood City, CA 1 $ 493,000 $ 493,000 $ 104,000
Sandusky, OH 1 $ 140,000 $ 140,000 $ 144,000
Seattle-Bellevue-Everett, WA 1 $ 573,000 $ 573,000 $ 110,000
Sebastian-Vero Beach, FL 1 $ 314,000 $ 314,000 $ 207,000
Shreveport-Bossier City, LA 1 $ 183,000 $ 183,000 $ 58,000
Spartanburg, SC 1 $ 102,000 $ 102,000 $ 35,000
Springfield, MA 1 $ 148,000 $ 148,000 $ 39,000
Toledo, OH 1 $ 110,000 $ 110,000 $ 42,000
Tucson, AZ 1 $ 234,000 $ 234,000 $ 0
Tulsa, OK 1 $ 156,000 $ 156,000 $ 34,000
Visalia-Porterville, CA 1 $ 272,000 $ 272,000 $ 101,000
West Palm Beach-Boca Raton-Boynton Beach, FL 1 $ 1,900,000 $ 1,900,000 $ 582,000
Worcester, MA 1 $ 500,000 $ 500,000 $ 144,000

Mortgage Loan Application Detail Totals for Beach First National Bank 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
Refinancing 1,527 $379,654,000 $248,000 $4,564,000 $77,000 $1,560,000
Home Purchase 651 $153,111,000 $235,000 $2,000,000 $112,000 $1,330,000
Home Improvement 14 $3,721,000 $265,000 $1,500,000 $205,000 $1,000,000

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 1,147 $275,334,000 $240,000 $1,936,000 $110,000 $1,330,000
Not Provided 645 $157,621,000 $244,000 $1,500,000 $59,000 $1,560,000
Black or African American 268 $59,815,000 $223,000 $940,000 $79,000 $451,000
Hispanic 64 $15,988,000 $249,000 $1,387,000 $76,000 $300,000
Asian 32 $8,515,000 $266,000 $585,000 $78,000 $280,000
Not applicable 29 $17,757,000 $612,000 $4,564,000 $0 $0
American Indian or Alaskan Native 4 $809,000 $202,000 $326,000 $118,000 $145,000
Native Hawaiian or Other Pacific Islander 3 $647,000 $215,000 $280,000 $66,000 $80,000

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) 2,142 $526,958,000 $246,000 $4,564,000 $88,000 $1,560,000
FHA-insured (Federal Housing Administration) 36 $6,325,000 $175,000 $303,000 $60,000 $124,000
VA-guaranteed (Veterans Administration) 13 $2,942,000 $226,000 $405,000 $85,000 $159,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1 $261,000 $261,000 $261,000 $166,000 $166,000

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 933 $238,117,000 $255,000 $4,564,000 $111,000 $1,188,000
Application Withdrawn By Applicant 808 $192,988,000 $238,000 $1,936,000 $76,000 $1,560,000
Application Denied By Financial Institution 415 $96,604,000 $232,000 $1,306,000 $58,000 $1,300,000
Application Approved But Not Accepted 36 $8,777,000 $243,000 $590,000 $110,000 $420,000
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 261 $57,824,000 $221,000 $719,000 $55,000 $1,300,000
Debt-To-Income Ratio 50 $11,499,000 $229,000 $735,000 $50,000 $135,000
Other 48 $12,105,000 $252,000 $751,000 $66,000 $407,000
Collateral 36 $9,949,000 $276,000 $1,306,000 $71,000 $242,000
Unverifiable Information 6 $2,229,000 $371,000 $500,000 $127,000 $185,000
Insufficient Cash (Downpayment, Closing Cost) 6 $1,069,000 $178,000 $383,000 $88,000 $308,000
Employment History 5 $1,245,000 $249,000 $500,000 $24,000 $96,000
Credit Application Incomplete 3 $684,000 $228,000 $456,000 $64,000 $80,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0

Our comprehensive HMDA mortgage statistics provide invaluable insights into Beach First National Bank'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 Beach First National 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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