Cabarrus Bank & Trust Company Mortgage Lending & HMDA Data, 2006
In 2006, Cabarrus Bank & Trust Company of Concord, NC reported 119 mortgage applications totaling $17.3 million, down 5% from 2005. The average application was for $145,184, and applicants reported an average income of $95,714. 75% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Charlotte-Gastonia-Concord, NC-SC (87) and Myrtle Beach-Conway-North Myrtle Beach, SC (2).
| 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 | 119 |
| Total Mortgage Loan Application Amount | $17,277,000 |
| Average Mortgage Loan Application Amount | $145,184 |
| Highest Mortgage Loan Application Amount | $417,000 |
| Average Applicant Income | $95,714 |
| Highest Applicant Income | $1,100,000 |
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records Cabarrus Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2006
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 | 61 | $8,914,000 | $146,000 | $417,000 | $112,000 | $1,100,000 |
| Refinancing | 53 | $7,738,000 | $146,000 | $417,000 | $71,000 | $480,000 |
| Home Improvement | 5 | $625,000 | $125,000 | $330,000 | $159,000 | $523,000 |
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 | 100 | $14,742,000 | $147,000 | $417,000 | $89,000 | $523,000 |
| Not Provided | 15 | $2,183,000 | $145,000 | $337,000 | $81,000 | $304,000 |
| Black or African American | 2 | $130,000 | $65,000 | $65,000 | $83,000 | $166,000 |
| Asian | 1 | $180,000 | $180,000 | $180,000 | $1,100,000 | $1,100,000 |
| Not applicable | 1 | $42,000 | $42,000 | $42,000 | $0 | $0 |
| American Indian or Alaskan Native | 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 |
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) | 119 | $17,277,000 | $145,000 | $417,000 | $95,000 | $1,100,000 |
| 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 | 89 | $12,984,000 | $145,000 | $417,000 | $109,000 | $1,100,000 |
| Application Approved But Not Accepted | 12 | $2,258,000 | $188,000 | $300,000 | $66,000 | $145,000 |
| Application Denied By Financial Institution | 8 | $504,000 | $63,000 | $146,000 | $26,000 | $64,000 |
| Application Withdrawn By Applicant | 8 | $1,363,000 | $170,000 | $312,000 | $78,000 | $154,000 |
| File Closed For Incompleteness | 2 | $168,000 | $84,000 | $93,000 | $35,000 | $44,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 2006 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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