Fvb - Southwest Mortgage Lending & HMDA Data, 2003
In 2003, Fvb - Southwest of Wilson, NC reported 3,070 mortgage applications totaling $190.3 million. The average application was for $61,973, and applicants reported an average income of $53,818. 76% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Lynchburg, VA (302), Roanoke, VA (278) and Danville, VA (216) (applications in parentheses).
| Mortgage Company & Address | Fvb - Southwest 223 West Nash St Wilson, NC 27893 |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 3,070 |
| Total Mortgage Loan Application Amount | $190,259,000 |
| Average Mortgage Loan Application Amount | $61,973 |
| Highest Mortgage Loan Application Amount | $660,000 |
| Average Applicant Income | $53,818 |
| Highest Applicant Income | $2,000,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Fvb - Southwest filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Lynchburg, VA | 302 | $ 20,395,000 | $ 67,533 | $ 49,000 |
| Roanoke, VA | 278 | $ 18,811,000 | $ 67,665 | $ 52,000 |
| Danville, VA | 216 | $ 13,831,000 | $ 64,032 | $ 46,000 |
| Richmond-Petersburg, VA | 3 | $ 312,000 | $ 104,000 | $ 102,000 |
Mortgage Loan Application Detail Totals for Fvb - Southwest in 2003
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 (home purchase or home improvement, one-to-four family) | 2,496 | $168,502,000 | $62,666 | $660,000 | $47,333 | $2,000,000 |
| Home Improvement (one-to-four family) | 287 | $6,034,000 | $13,000 | $160,000 | $32,000 | $170,000 |
| Home Purchase (one-to-four family) | 286 | $15,569,000 | $41,000 | $269,000 | $46,666 | $1,332,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 1 | $154,000 | $154,000 | $154,000 | $0 | $0 |
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 | 2,844 | $176,190,000 | $57,333 | $660,000 | $41,000 | $2,000,000 |
| Black | 146 | $7,739,000 | $42,666 | $164,000 | $38,333 | $175,000 |
| Information not provided by applicant in mail or telephone application | 47 | $3,136,000 | $60,500 | $265,000 | $48,500 | $188,000 |
| Other | 11 | $2,051,000 | $147,500 | $339,000 | $246,000 | $612,000 |
| American Indian or Alaskan Native | 8 | $427,000 | $53,000 | $73,000 | $40,000 | $74,000 |
| Asian or Pacific Islander | 8 | $488,000 | $61,500 | $175,000 | $64,000 | $229,000 |
| Hispanic | 4 | $121,000 | $30,000 | $64,000 | $31,000 | $46,000 |
| Not applicable | 2 | $107,000 | $53,000 | $75,000 | $738,000 | $1,332,000 |
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) | 3,061 | $190,198,000 | $56,666 | $660,000 | $44,333 | $2,000,000 |
| FHA-insured (Federal Housing Administration) | 9 | $61,000 | $6,000 | $25,000 | $49,000 | $94,000 |
| 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 | 2,337 | $144,383,000 | $59,333 | $572,000 | $53,000 | $1,332,000 |
| Application Denied By Financial Institution | 400 | $24,081,000 | $51,666 | $660,000 | $35,333 | $2,000,000 |
| Application Approved But Not Accepted | 216 | $14,083,000 | $46,333 | $339,000 | $48,666 | $1,029,000 |
| Application Withdrawn By Applicant | 116 | $7,547,000 | $50,000 | $314,000 | $50,000 | $211,000 |
| File Closed For Incompleteness | 1 | $165,000 | $165,000 | $165,000 | $50,000 | $50,000 |
| Loan Purchased By The 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 | 193 | $9,634,000 | $43,666 | $186,000 | $35,000 | $113,000 |
| Debt-To-Income Ratio | 142 | $9,780,000 | $60,000 | $660,000 | $30,666 | $2,000,000 |
| Collateral | 50 | $4,004,000 | $58,666 | $267,000 | $50,000 | $145,000 |
| Employment History | 13 | $646,000 | $27,500 | $130,000 | $25,000 | $76,000 |
| Other | 1 | $5,000 | $5,000 | $5,000 | $15,000 | $15,000 |
| Unverifiable Information | 1 | $12,000 | $12,000 | $12,000 | $25,000 | $25,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Fvb - Southwest's 2003 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 Fvb - Southwest'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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