Gateway Bank & Trust Mortgage Lending & HMDA Data, 2011
In 2011, Gateway Bank & Trust of Ringgold, GA reported 136 mortgage applications totaling $21.7 million, down 17% from 2010. The average application was for $159,727, and applicants reported an average income of $76,411. 83% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Chattanooga, TN-GA (125), Dalton, GA (4) and Atlanta-Sandy Springs-Marietta, GA (3) (applications in parentheses).
| Mortgage Company & Address | Gateway Bank & Trust 5102 Alabama Highway Ringgold, GA 30736 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 136 |
| Total Mortgage Loan Application Amount | $21,723,000 |
| Average Mortgage Loan Application Amount | $159,727 |
| Highest Mortgage Loan Application Amount | $1,900,000 |
| Average Applicant Income | $76,411 |
| Highest Applicant Income | $853,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Gateway Bank & Trust in 2011
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 | 112 | $18,512,000 | $165,000 | $1,900,000 | $65,000 | $482,000 |
| Home Purchase | 16 | $3,072,000 | $192,000 | $800,000 | $168,000 | $853,000 |
| Home Improvement | 8 | $139,000 | $17,000 | $96,000 | $53,000 | $86,000 |
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 | 98 | $16,505,000 | $168,000 | $1,900,000 | $103,000 | $853,000 |
| Not applicable | 33 | $4,464,000 | $135,000 | $731,000 | $0 | $0 |
| Asian | 2 | $118,000 | $59,000 | $67,000 | $75,000 | $86,000 |
| Black or African American | 2 | $247,000 | $123,000 | $127,000 | $47,000 | $48,000 |
| Hispanic | 1 | $389,000 | $389,000 | $389,000 | $132,000 | $132,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 133 | $21,432,000 | $161,000 | $1,900,000 | $78,000 | $853,000 |
| FHA-insured (Federal Housing Administration) | 3 | $291,000 | $97,000 | $154,000 | $36,000 | $51,000 |
| 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 | 113 | $19,324,000 | $171,000 | $1,900,000 | $81,000 | $853,000 |
| Application Denied By Financial Institution | 12 | $895,000 | $74,000 | $106,000 | $45,000 | $76,000 |
| Application Withdrawn By Applicant | 11 | $1,504,000 | $136,000 | $381,000 | $70,000 | $264,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 10 | $694,000 | $69,000 | $106,000 | $47,000 | $76,000 |
| Debt-To-Income Ratio | 2 | $201,000 | $100,000 | $105,000 | $33,000 | $50,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Gateway Bank & Trust's 2011 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.
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