Gateway Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Gateway Bank & Trust of Elizabeth City, NC reported 234 mortgage applications totaling $75.9 million, down 27% from 2007. The average application was for $324,235, and applicants reported an average income of $132,739. 63% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (59), Raleigh-Cary, NC (30) and Richmond, VA (24) (applications in parentheses).
| Mortgage Company & Address | Gateway Bank & Trust 112 Corporate Dr Elizabeth City, NC 27909 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 234 |
| Total Mortgage Loan Application Amount | $75,871,000 |
| Average Mortgage Loan Application Amount | $324,235 |
| Highest Mortgage Loan Application Amount | $5,000,000 |
| Average Applicant Income | $132,739 |
| Highest Applicant Income | $1,800,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Wake, North Carolina | 29 | $ 18,308,000 | $ 631,310 | $ 119,000 |
| Currituck, North Carolina | 22 | $ 5,836,000 | $ 265,272 | $ 105,000 |
| Virginia Beach, Virginia | 19 | $ 8,546,000 | $ 449,789 | $ 169,000 |
| Dare, North Carolina | 18 | $ 7,450,000 | $ 413,888 | $ 197,000 |
| New Hanover, North Carolina | 14 | $ 7,035,000 | $ 502,500 | $ 277,000 |
| Pasquotank, North Carolina | 14 | $ 2,018,000 | $ 144,142 | $ 47,000 |
| Henrico, Virginia | 10 | $ 2,153,000 | $ 215,300 | $ 121,000 |
| Emporia, Virginia | 9 | $ 625,000 | $ 69,444 | $ 88,000 |
| Richmond City, Virginia | 9 | $ 1,426,000 | $ 158,444 | $ 48,000 |
| Chowan, North Carolina | 7 | $ 211,000 | $ 30,142 | $ 57,000 |
| Charlottesville, Virginia | 7 | $ 1,624,000 | $ 232,000 | $ 8,000 |
| Chesapeake, Virginia | 7 | $ 1,146,000 | $ 163,714 | $ 154,000 |
| Greensville, Virginia | 7 | $ 522,000 | $ 74,571 | $ 74,000 |
| Albemarle, Virginia | 5 | $ 725,000 | $ 145,000 | $ 12,000 |
| Fluvanna, Virginia | 5 | $ 1,019,000 | $ 203,800 | $ 20,000 |
| Washington, North Carolina | 4 | $ 100,000 | $ 25,000 | $ 46,000 |
| Norfolk, Virginia | 4 | $ 822,000 | $ 205,500 | $ 180,000 |
| Suffolk, Virginia | 4 | $ 403,000 | $ 100,750 | $ 43,000 |
| Perquimans, North Carolina | 3 | $ 293,000 | $ 97,666 | $ 55,000 |
| Chesterfield, Virginia | 3 | $ 601,000 | $ 200,333 | $ 105,000 |
| Brunswick, North Carolina | 2 | $ 822,000 | $ 411,000 | $ 314,000 |
| Orange, North Carolina | 2 | $ 384,000 | $ 192,000 | $ 171,000 |
| Pitt, North Carolina | 2 | $ 319,000 | $ 159,500 | $ 26,000 |
| Amherst, Virginia | 2 | $ 347,000 | $ 173,500 | $ 0 |
| Bedford, Virginia | 2 | $ 3,598,000 | $ 1,799,000 | $ 35,000 |
| Williamsburg, Virginia | 2 | $ 201,000 | $ 100,500 | $ 229,000 |
| Camden, North Carolina | 1 | $ 50,000 | $ 50,000 | $ 83,000 |
| Caswell, North Carolina | 1 | $ 492,000 | $ 492,000 | $ 235,000 |
| Chatham, North Carolina | 1 | $ 850,000 | $ 850,000 | $ 360,000 |
| Durham, North Carolina | 1 | $ 315,000 | $ 315,000 | $ 81,000 |
| Franklin, North Carolina | 1 | $ 145,000 | $ 145,000 | $ 0 |
| Gates, North Carolina | 1 | $ 10,000 | $ 10,000 | $ 28,000 |
| Onslow, North Carolina | 1 | $ 75,000 | $ 75,000 | $ 1,241,000 |
| Union, North Carolina | 1 | $ 398,000 | $ 398,000 | $ 0 |
| Beaufort, South Carolina | 1 | $ 1,725,000 | $ 1,725,000 | $ 1,800,000 |
| Horry, South Carolina | 1 | $ 1,856,000 | $ 1,856,000 | $ 853,000 |
| Lancaster, South Carolina | 1 | $ 512,000 | $ 512,000 | $ 148,000 |
| Goochland, Virginia | 1 | $ 185,000 | $ 185,000 | $ 86,000 |
| Greene, Virginia | 1 | $ 170,000 | $ 170,000 | $ 45,000 |
| Isle of Wight, Virginia | 1 | $ 40,000 | $ 40,000 | $ 141,000 |
| Lynchburg, Virginia | 1 | $ 115,000 | $ 115,000 | $ 145,000 |
| Madison, Virginia | 1 | $ 73,000 | $ 73,000 | $ 95,000 |
| Middlesex, Virginia | 1 | $ 110,000 | $ 110,000 | $ 226,000 |
| Montgomery, Virginia | 1 | $ 168,000 | $ 168,000 | $ 20,000 |
| Nelson, Virginia | 1 | $ 1,350,000 | $ 1,350,000 | $ 545,000 |
| Orange, Virginia | 1 | $ 400,000 | $ 400,000 | $ 0 |
| Powhatan, Virginia | 1 | $ 132,000 | $ 132,000 | $ 60,000 |
| Waynesboro, Virginia | 1 | $ 166,000 | $ 166,000 | $ 0 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2008
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 | 101 | $33,249,000 | $329,000 | $3,500,000 | $112,000 | $1,241,000 |
| Refinancing | 90 | $39,353,000 | $437,000 | $5,000,000 | $175,000 | $1,800,000 |
| Home Improvement | 43 | $3,269,000 | $76,000 | $625,000 | $93,000 | $431,000 |
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 | 156 | $49,158,000 | $315,000 | $2,000,000 | $188,000 | $1,800,000 |
| Not applicable | 58 | $24,388,000 | $420,000 | $5,000,000 | $0 | $0 |
| Black or African American | 13 | $970,000 | $74,000 | $536,000 | $50,000 | $214,000 |
| Hispanic | 3 | $546,000 | $182,000 | $345,000 | $180,000 | $242,000 |
| Not Provided | 3 | $787,000 | $262,000 | $502,000 | $159,000 | $263,000 |
| Asian | 1 | $22,000 | $22,000 | $22,000 | $40,000 | $40,000 |
| American Indian or Alaskan Native | 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) | 234 | $75,871,000 | $324,000 | $5,000,000 | $132,000 | $1,800,000 |
| 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 | 148 | $34,252,000 | $231,000 | $5,000,000 | $84,000 | $1,241,000 |
| Loan Purchased By The Institution | 60 | $38,589,000 | $643,000 | $2,000,000 | $289,000 | $1,800,000 |
| Application Denied By Financial Institution | 14 | $1,235,000 | $88,000 | $512,000 | $44,000 | $148,000 |
| Application Approved But Not Accepted | 9 | $1,595,000 | $177,000 | $640,000 | $44,000 | $97,000 |
| Application Withdrawn By Applicant | 3 | $200,000 | $66,000 | $150,000 | $66,000 | $141,000 |
| File Closed For Incompleteness | 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 Gateway Bank & Trust's 2008 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 Gateway Bank & Trust'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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