Cabarrus Bank & Trust Company Mortgage Lending & HMDA Data, 2005
In 2005, Cabarrus Bank & Trust Company of Concord, NC reported 125 mortgage applications totaling $17.0 million, down 29% from 2004. The average application was for $135,992, and applicants reported an average income of $79,344. 86% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Charlotte-Gastonia-Concord, NC-SC (87), Winston-Salem, NC (2) and Myrtle Beach-Conway-North Myrtle Beach, SC (1) (applications in parentheses).
| Mortgage Company & Address | Cabarrus Bank & Trust Company Po Box 1970 Concord, NC 28026 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 125 |
| Total Mortgage Loan Application Amount | $16,999,000 |
| Average Mortgage Loan Application Amount | $135,992 |
| Highest Mortgage Loan Application Amount | $750,000 |
| Average Applicant Income | $79,344 |
| Highest Applicant Income | $546,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Cabarrus Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Cabarrus Bank & Trust Company in 2005
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 | 64 | $7,782,000 | $121,000 | $348,000 | $82,000 | $500,000 |
| Home Purchase | 57 | $9,175,000 | $136,000 | $750,000 | $307,000 | $546,000 |
| Home Improvement | 4 | $42,000 | $10,000 | $21,000 | $79,000 | $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 | 117 | $16,152,000 | $124,500 | $750,000 | $313,500 | $546,000 |
| Not Provided | 3 | $190,000 | $63,000 | $83,000 | $60,000 | $89,000 |
| Not applicable | 2 | $144,000 | $72,000 | $90,000 | $0 | $0 |
| Asian | 1 | $170,000 | $170,000 | $170,000 | $61,000 | $61,000 |
| Black or African American | 1 | $290,000 | $290,000 | $290,000 | $56,000 | $56,000 |
| Hispanic | 1 | $53,000 | $53,000 | $53,000 | $38,000 | $38,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 125 | $16,999,000 | $123,500 | $750,000 | $310,000 | $546,000 |
| 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 | 108 | $14,020,000 | $120,000 | $348,000 | $310,500 | $546,000 |
| Application Denied By Financial Institution | 8 | $842,000 | $105,000 | $169,000 | $59,000 | $78,000 |
| Application Withdrawn By Applicant | 7 | $1,676,000 | $239,000 | $750,000 | $71,000 | $144,000 |
| Application Approved But Not Accepted | 2 | $461,000 | $230,000 | $360,000 | $120,000 | $175,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 Cabarrus Bank & Trust Company's 2005 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 Cabarrus Bank & Trust Company'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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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