Gateway Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Gateway Bank & Trust of Elizabeth City, NC reported 87 mortgage applications totaling $12.5 million. The average application was for $143,390, and applicants reported an average income of $153,448. 80% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Norfolk-Virginia Beach-Newport News, VA-NC (8) and Rocky Mount, NC (1).
| 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 | 87 |
| Total Mortgage Loan Application Amount | $12,475,000 |
| Average Mortgage Loan Application Amount | $143,390 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $153,448 |
| Highest Applicant Income | $960,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Pasquotank, North Carolina | 37 | $ 1,849,000 | $ 49,972 | $ 122,000 |
| Dare, North Carolina | 14 | $ 8,000,000 | $ 571,428 | $ 345,000 |
| Camden, North Carolina | 9 | $ 692,000 | $ 76,888 | $ 293,000 |
| Washington, North Carolina | 7 | $ 216,000 | $ 30,857 | $ 31,000 |
| Currituck, North Carolina | 6 | $ 807,000 | $ 134,500 | $ 78,000 |
| Chesapeake, Virginia | 4 | $ 309,000 | $ 77,250 | $ 73,000 |
| Virginia Beach, Virginia | 4 | $ 274,000 | $ 68,500 | $ 81,000 |
| Chowan, North Carolina | 3 | $ 108,000 | $ 36,000 | $ 79,000 |
| Perquimans, North Carolina | 2 | $ 155,000 | $ 77,500 | $ 55,000 |
| Nash, North Carolina | 1 | $ 65,000 | $ 65,000 | $ 28,000 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust 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) | 40 | $5,528,000 | $109,500 | $750,000 | $162,000 | $960,000 |
| Home Purchase (one-to-four family) | 33 | $5,968,000 | $145,500 | $2,000,000 | $86,000 | $936,000 |
| Home Improvement (one-to-four family) | 14 | $979,000 | $57,000 | $686,000 | $90,000 | $466,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $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 | 48 | $5,528,000 | $97,500 | $1,200,000 | $73,500 | $822,000 |
| Not applicable | 30 | $6,415,000 | $213,000 | $2,000,000 | $504,000 | $960,000 |
| Black | 8 | $212,000 | $26,000 | $75,000 | $65,000 | $108,000 |
| Hispanic | 1 | $320,000 | $320,000 | $320,000 | $171,000 | $171,000 |
| Information not provided by applicant in mail or telephone application | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian or Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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) | 87 | $12,475,000 | $111,000 | $2,000,000 | $112,500 | $960,000 |
| 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 | 70 | $11,613,000 | $127,500 | $2,000,000 | $144,000 | $960,000 |
| Application Denied By Financial Institution | 7 | $196,000 | $28,000 | $55,000 | $33,000 | $48,000 |
| Application Withdrawn By Applicant | 4 | $350,000 | $65,000 | $270,000 | $30,500 | $37,000 |
| Loan Purchased By The Institution | 3 | $198,000 | $66,000 | $80,000 | $58,000 | $100,000 |
| Application Approved But Not Accepted | 3 | $118,000 | $39,000 | $50,000 | $67,000 | $108,000 |
| File Closed For Incompleteness | 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 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 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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