Gateway Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Gateway Bank & Trust of Elizabeth City, NC reported 177 mortgage applications totaling $37.6 million, up 39% from 2005. The average application was for $212,576, and applicants reported an average income of $164,361. 80% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (46), Raleigh-Cary, NC (11) and Wilmington, NC (7) (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 | 177 |
| Total Mortgage Loan Application Amount | $37,626,000 |
| Average Mortgage Loan Application Amount | $212,576 |
| Highest Mortgage Loan Application Amount | $1,600,000 |
| Average Applicant Income | $164,361 |
| Highest Applicant Income | $3,836,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 46 | $ 9,401,000 | $ 204,369 | $ 254,695 |
| Raleigh-Cary, NC | 11 | $ 1,553,000 | $ 141,181 | $ 183,000 |
| Wilmington, NC | 7 | $ 2,712,000 | $ 387,428 | $ 95,000 |
| Charleston-North Charleston, SC | 3 | $ 548,000 | $ 182,666 | $ 147,000 |
| Rocky Mount, NC | 2 | $ 40,000 | $ 20,000 | $ 72,000 |
| Durham, NC | 1 | $ 160,000 | $ 160,000 | $ 98,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC | 1 | $ 935,000 | $ 935,000 | $ 0 |
| Richmond, VA | 1 | $ 75,000 | $ 75,000 | $ 75,000 |
| Roanoke, VA | 1 | $ 751,000 | $ 751,000 | $ 348,000 |
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2006
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 | 63 | $21,785,000 | $345,000 | $1,600,000 | $208,000 | $3,836,000 |
| Home Purchase | 61 | $13,646,000 | $223,000 | $1,436,000 | $170,000 | $3,174,000 |
| Home Improvement | 53 | $2,195,000 | $41,000 | $260,000 | $106,000 | $887,000 |
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 | 121 | $22,105,000 | $182,000 | $1,580,000 | $191,000 | $3,174,000 |
| Not applicable | 32 | $12,550,000 | $392,000 | $1,600,000 | $0 | $0 |
| Black or African American | 20 | $1,497,000 | $74,000 | $553,000 | $78,000 | $381,000 |
| Asian | 2 | $1,361,000 | $680,000 | $1,000,000 | $2,134,000 | $3,836,000 |
| Not Provided | 2 | $113,000 | $56,000 | $77,000 | $95,000 | $110,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 177 | $37,626,000 | $212,000 | $1,600,000 | $164,000 | $3,836,000 |
| 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 | 142 | $26,386,000 | $185,000 | $1,600,000 | $149,000 | $3,836,000 |
| Application Denied By Financial Institution | 14 | $802,000 | $57,000 | $180,000 | $53,000 | $142,000 |
| Loan Purchased By The Institution | 13 | $9,620,000 | $740,000 | $1,580,000 | $512,000 | $1,381,000 |
| Application Approved But Not Accepted | 7 | $718,000 | $102,000 | $235,000 | $56,000 | $108,000 |
| Application Withdrawn By Applicant | 1 | $100,000 | $100,000 | $100,000 | $98,000 | $98,000 |
| 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 2006 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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