Gateway Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Gateway Bank & Trust of Elizabeth City, NC reported 128 mortgage applications totaling $30.5 million, up 47% from 2003. The average application was for $237,937, and applicants reported an average income of $183,132. 91% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (14), Charlotte-Gastonia-Concord, NC-SC (1) and Charlottesville, VA (1) (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 | 128 |
| Total Mortgage Loan Application Amount | $30,456,000 |
| Average Mortgage Loan Application Amount | $237,937 |
| Highest Mortgage Loan Application Amount | $1,700,000 |
| Average Applicant Income | $183,132 |
| Highest Applicant Income | $1,323,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Dare, North Carolina | 43 | $ 18,205,000 | $ 423,372 | $ 115,000 |
| Pasquotank, North Carolina | 29 | $ 3,108,000 | $ 107,172 | $ 138,000 |
| Currituck, North Carolina | 15 | $ 4,969,000 | $ 331,266 | $ 290,000 |
| Virginia Beach, Virginia | 8 | $ 944,000 | $ 118,000 | $ 240,000 |
| Camden, North Carolina | 6 | $ 603,000 | $ 100,500 | $ 380,000 |
| Perquimans, North Carolina | 6 | $ 312,000 | $ 52,000 | $ 50,000 |
| Chowan, North Carolina | 4 | $ 486,000 | $ 121,500 | $ 187,000 |
| Washington, North Carolina | 3 | $ 275,000 | $ 91,666 | $ 73,000 |
| Norfolk, Virginia | 3 | $ 328,000 | $ 109,333 | $ 47,000 |
| Granville, North Carolina | 2 | $ 215,000 | $ 107,500 | $ 105,000 |
| Chesapeake, Virginia | 2 | $ 108,000 | $ 54,000 | $ 69,000 |
| Bertie, North Carolina | 1 | $ 5,000 | $ 5,000 | $ 49,000 |
| Hyde, North Carolina | 1 | $ 85,000 | $ 85,000 | $ 128,000 |
| Mecklenburg, North Carolina | 1 | $ 95,000 | $ 95,000 | $ 55,000 |
| Wake, North Carolina | 1 | $ 272,000 | $ 272,000 | $ 194,000 |
| Albemarle, Virginia | 1 | $ 221,000 | $ 221,000 | $ 193,000 |
| Charlotte, Virginia | 1 | $ 135,000 | $ 135,000 | $ 66,000 |
| Portsmouth, Virginia | 1 | $ 90,000 | $ 90,000 | $ 0 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2004
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 | 72 | $22,215,000 | $233,500 | $1,318,000 | $133,000 | $1,323,000 |
| Refinancing | 41 | $7,941,000 | $163,000 | $1,700,000 | $298,000 | $1,070,000 |
| Home Improvement | 15 | $300,000 | $28,500 | $75,000 | $85,000 | $312,000 |
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 | 91 | $17,608,000 | $155,500 | $960,000 | $105,000 | $958,000 |
| Not applicable | 26 | $12,244,000 | $319,000 | $1,700,000 | $165,500 | $1,323,000 |
| Black or African American | 6 | $78,000 | $11,000 | $35,000 | $58,000 | $95,000 |
| Not Provided | 3 | $211,000 | $97,500 | $180,000 | $64,000 | $168,000 |
| Hispanic | 1 | $155,000 | $155,000 | $155,000 | $76,000 | $76,000 |
| Asian | 1 | $160,000 | $160,000 | $160,000 | $1,070,000 | $1,070,000 |
| 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) | 128 | $30,456,000 | $184,500 | $1,700,000 | $151,000 | $1,323,000 |
| 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 | 116 | $28,911,000 | $195,500 | $1,700,000 | $176,000 | $1,323,000 |
| Application Denied By Financial Institution | 9 | $465,000 | $46,000 | $318,000 | $32,000 | $182,000 |
| Application Withdrawn By Applicant | 2 | $805,000 | $402,000 | $800,000 | $139,000 | $230,000 |
| Application Approved But Not Accepted | 1 | $275,000 | $275,000 | $275,000 | $98,000 | $98,000 |
| 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 Gateway Bank & Trust's 2004 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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