Gateway Bank & Trust Mortgage Lending & HMDA Data, 2007
In 2007, Gateway Bank & Trust of Elizabeth City, NC reported 320 mortgage applications totaling $88.9 million, up 81% from 2006. The average application was for $277,812, and applicants reported an average income of $126,290. 62% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (56), Richmond, VA (54) and Raleigh-Cary, NC (28) (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 | 320 |
| Total Mortgage Loan Application Amount | $88,900,000 |
| Average Mortgage Loan Application Amount | $277,812 |
| Highest Mortgage Loan Application Amount | $3,875,000 |
| Average Applicant Income | $126,290 |
| Highest Applicant Income | $4,053,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 52 | $ 7,747,000 | $ 148,980 | $ 61,000 |
| Wake, North Carolina | 27 | $ 11,844,000 | $ 438,666 | $ 199,000 |
| Dare, North Carolina | 25 | $ 14,128,000 | $ 565,120 | $ 183,000 |
| Richmond City, Virginia | 18 | $ 3,671,000 | $ 203,944 | $ 47,000 |
| Henrico, Virginia | 17 | $ 3,744,000 | $ 220,235 | $ 56,000 |
| Suffolk, Virginia | 16 | $ 1,815,000 | $ 113,437 | $ 56,000 |
| Virginia Beach, Virginia | 16 | $ 6,892,000 | $ 430,750 | $ 625,000 |
| Chowan, North Carolina | 14 | $ 1,510,000 | $ 107,857 | $ 70,000 |
| Currituck, North Carolina | 11 | $ 4,157,000 | $ 377,909 | $ 150,000 |
| Emporia, Virginia | 11 | $ 1,057,000 | $ 96,090 | $ 18,000 |
| Chesterfield, Virginia | 9 | $ 1,650,000 | $ 183,333 | $ 59,000 |
| Camden, North Carolina | 7 | $ 253,000 | $ 36,142 | $ 39,000 |
| Perquimans, North Carolina | 7 | $ 333,000 | $ 47,571 | $ 49,000 |
| Greensville, Virginia | 7 | $ 176,000 | $ 25,142 | $ 28,000 |
| Charlottesville, Virginia | 6 | $ 1,252,000 | $ 208,666 | $ 14,000 |
| Chesapeake, Virginia | 6 | $ 1,401,000 | $ 233,500 | $ 219,000 |
| Norfolk, Virginia | 6 | $ 927,000 | $ 154,500 | $ 62,000 |
| New Hanover, North Carolina | 5 | $ 6,430,000 | $ 1,286,000 | $ 633,000 |
| Pitt, North Carolina | 5 | $ 5,606,000 | $ 1,121,200 | $ 0 |
| Horry, South Carolina | 5 | $ 3,032,000 | $ 606,400 | $ 107,000 |
| Edgecombe, North Carolina | 4 | $ 202,000 | $ 50,500 | $ 72,000 |
| Goochland, Virginia | 4 | $ 501,000 | $ 125,250 | $ 45,000 |
| Hanover, Virginia | 4 | $ 1,100,000 | $ 275,000 | $ 40,000 |
| Orange, North Carolina | 3 | $ 1,466,000 | $ 488,666 | $ 144,000 |
| Washington, North Carolina | 3 | $ 61,000 | $ 20,333 | $ 29,000 |
| Charleston, South Carolina | 3 | $ 1,635,000 | $ 545,000 | $ 0 |
| Bertie, North Carolina | 2 | $ 72,000 | $ 36,000 | $ 127,000 |
| Brunswick, North Carolina | 2 | $ 252,000 | $ 126,000 | $ 33,000 |
| Durham, North Carolina | 2 | $ 176,000 | $ 88,000 | $ 50,000 |
| Albemarle, Virginia | 2 | $ 1,751,000 | $ 875,500 | $ 834,000 |
| Fluvanna, Virginia | 2 | $ 293,000 | $ 146,500 | $ 27,000 |
| Waynesboro, Virginia | 2 | $ 239,000 | $ 119,500 | $ 0 |
| Lee, Florida | 1 | $ 14,000 | $ 14,000 | $ 385,000 |
| Anne Arundel, Maryland | 1 | $ 12,000 | $ 12,000 | $ 114,000 |
| Burlington, New Jersey | 1 | $ 205,000 | $ 205,000 | $ 35,000 |
| Carteret, North Carolina | 1 | $ 420,000 | $ 420,000 | $ 196,000 |
| Johnston, North Carolina | 1 | $ 120,000 | $ 120,000 | $ 32,000 |
| Mecklenburg, North Carolina | 1 | $ 139,000 | $ 139,000 | $ 83,000 |
| Northampton, North Carolina | 1 | $ 200,000 | $ 200,000 | $ 176,000 |
| Pender, North Carolina | 1 | $ 324,000 | $ 324,000 | $ 152,000 |
| Person, North Carolina | 1 | $ 805,000 | $ 805,000 | $ 192,000 |
| Tyrrell, North Carolina | 1 | $ 62,000 | $ 62,000 | $ 102,000 |
| Brunswick, Virginia | 1 | $ 10,000 | $ 10,000 | $ 29,000 |
| Lancaster, Virginia | 1 | $ 381,000 | $ 381,000 | $ 132,000 |
| Louisa, Virginia | 1 | $ 207,000 | $ 207,000 | $ 48,000 |
| Middlesex, Virginia | 1 | $ 390,000 | $ 390,000 | $ 0 |
| Portsmouth, Virginia | 1 | $ 20,000 | $ 20,000 | $ 64,000 |
| Powhatan, Virginia | 1 | $ 203,000 | $ 203,000 | $ 0 |
| Southampton, Virginia | 1 | $ 15,000 | $ 15,000 | $ 22,000 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2007
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 | 129 | $49,801,000 | $386,000 | $3,875,000 | $155,000 | $3,835,000 |
| Home Purchase | 127 | $36,159,000 | $284,000 | $3,020,000 | $126,000 | $4,053,000 |
| Home Improvement | 64 | $2,940,000 | $45,000 | $417,000 | $69,000 | $326,000 |
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 | 159 | $43,104,000 | $271,000 | $3,020,000 | $175,000 | $4,053,000 |
| Not applicable | 89 | $32,445,000 | $364,000 | $3,875,000 | $5,000 | $199,000 |
| Not Provided | 34 | $6,725,000 | $197,000 | $730,000 | $122,000 | $1,775,000 |
| Black or African American | 32 | $3,935,000 | $122,000 | $1,024,000 | $116,000 | $960,000 |
| Asian | 4 | $2,218,000 | $554,000 | $1,375,000 | $1,048,000 | $3,835,000 |
| Hispanic | 2 | $473,000 | $236,000 | $303,000 | $97,000 | $123,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 320 | $88,900,000 | $277,000 | $3,875,000 | $126,000 | $4,053,000 |
| 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 | 197 | $49,468,000 | $251,000 | $3,875,000 | $118,000 | $4,053,000 |
| Loan Purchased By The Institution | 39 | $27,357,000 | $701,000 | $2,650,000 | $313,000 | $1,668,000 |
| Application Denied By Financial Institution | 37 | $3,418,000 | $92,000 | $392,000 | $54,000 | $171,000 |
| Application Withdrawn By Applicant | 29 | $5,568,000 | $192,000 | $730,000 | $58,000 | $251,000 |
| Application Approved But Not Accepted | 10 | $1,190,000 | $119,000 | $345,000 | $57,000 | $130,000 |
| File Closed For Incompleteness | 8 | $1,899,000 | $237,000 | $400,000 | $98,000 | $186,000 |
| 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 2007 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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