Gateway Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Gateway Bank & Trust of Elizabeth City, NC reported 127 mortgage applications totaling $27.8 million, down 1% from 2004. The average application was for $219,173, and applicants reported an average income of $209,188. 90% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (20), Wilmington, NC (2) and Blacksburg-Christiansburg-Radford, 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 | 127 |
| Total Mortgage Loan Application Amount | $27,835,000 |
| Average Mortgage Loan Application Amount | $219,173 |
| Highest Mortgage Loan Application Amount | $1,600,000 |
| Average Applicant Income | $209,188 |
| Highest Applicant Income | $1,223,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 20 | $ 4,105,000 | $ 205,250 | $ 162,000 |
| Wilmington, NC | 2 | $ 1,150,000 | $ 575,000 | $ 179,000 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 125,000 | $ 125,000 | $ 175,000 |
| Philadelphia, PA | 1 | $ 100,000 | $ 100,000 | $ 53,000 |
| Winston-Salem, NC | 1 | $ 111,000 | $ 111,000 | $ 76,000 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2005
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 | 64 | $17,877,000 | $257,500 | $1,600,000 | $244,000 | $1,223,000 |
| Refinancing | 38 | $8,083,000 | $177,500 | $1,600,000 | $170,000 | $870,000 |
| Home Improvement | 25 | $1,875,000 | $151,000 | $600,000 | $118,000 | $1,168,000 |
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 | 83 | $16,102,000 | $197,500 | $1,600,000 | $186,000 | $1,168,000 |
| Not applicable | 28 | $10,164,000 | $306,500 | $1,600,000 | $346,000 | $1,223,000 |
| Black or African American | 10 | $1,303,000 | $414,000 | $769,000 | $174,500 | $280,000 |
| Hispanic | 2 | $150,000 | $75,000 | $94,000 | $67,000 | $67,000 |
| American Indian or Alaskan Native | 2 | $15,000 | $7,000 | $10,000 | $23,000 | $41,000 |
| Not Provided | 2 | $101,000 | $50,500 | $100,000 | $47,000 | $53,000 |
| Asian | 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) | 127 | $27,835,000 | $171,666 | $1,600,000 | $152,666 | $1,223,000 |
| 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 | 114 | $25,833,000 | $178,000 | $1,600,000 | $160,666 | $1,223,000 |
| Application Denied By Financial Institution | 8 | $349,000 | $25,000 | $276,000 | $38,000 | $66,000 |
| Application Withdrawn By Applicant | 3 | $1,532,000 | $510,000 | $910,000 | $524,000 | $1,168,000 |
| Application Approved But Not Accepted | 2 | $121,000 | $60,500 | $94,000 | $59,000 | $67,000 |
| 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 2005 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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