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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Virginia Beach-Norfolk-Newport News, VA-NC | 59 | $ 16,994,000 | $ 288,033 | $ 136,983 |
| Raleigh-Cary, NC | 30 | $ 18,453,000 | $ 615,100 | $ 115,000 |
| Richmond, VA | 24 | $ 4,497,000 | $ 187,375 | $ 87,000 |
| Charlottesville, VA | 19 | $ 4,888,000 | $ 257,263 | $ 43,000 |
| Wilmington, NC | 16 | $ 7,857,000 | $ 491,062 | $ 282,000 |
| Lynchburg, VA | 5 | $ 4,060,000 | $ 812,000 | $ 43,000 |
| Durham, NC | 4 | $ 1,549,000 | $ 387,250 | $ 195,000 |
| Greenville, NC | 2 | $ 319,000 | $ 159,500 | $ 26,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 168,000 | $ 168,000 | $ 20,000 |
| Charlotte-Gastonia-Concord, NC-SC | 1 | $ 398,000 | $ 398,000 | $ 0 |
| Jacksonville, NC | 1 | $ 75,000 | $ 75,000 | $ 1,241,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 1 | $ 1,856,000 | $ 1,856,000 | $ 853,000 |
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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