Gateway Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Gateway Bank & Trust of Ringgold, GA reported 185 mortgage applications totaling $16.3 million. The average application was for $87,843, and applicants reported an average income of $51,718. 62% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Chattanooga, TN-GA (45) and Atlanta, GA (1).
| 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 | 185 |
| Total Mortgage Loan Application Amount | $16,251,000 |
| Average Mortgage Loan Application Amount | $87,843 |
| Highest Mortgage Loan Application Amount | $1,020,000 |
| Average Applicant Income | $51,718 |
| Highest Applicant Income | $585,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2003
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 (home purchase or home improvement, one-to-four family) | 96 | $9,799,000 | $106,000 | $830,000 | $52,500 | $585,000 |
| Home Purchase (one-to-four family) | 61 | $6,083,000 | $111,500 | $1,020,000 | $61,000 | $380,000 |
| Home Improvement (one-to-four family) | 28 | $369,000 | $11,500 | $59,000 | $73,500 | $255,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 165 | $13,922,000 | $97,000 | $1,020,000 | $60,000 | $585,000 |
| Information not provided by applicant in mail or telephone application | 12 | $1,359,000 | $129,000 | $290,000 | $56,000 | $113,000 |
| Asian or Pacific Islander | 4 | $575,000 | $130,000 | $218,000 | $67,500 | $141,000 |
| Not applicable | 3 | $270,000 | $97,500 | $121,000 | $0 | $0 |
| Other | 1 | $125,000 | $125,000 | $125,000 | $24,000 | $24,000 |
| Black | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 185 | $16,251,000 | $100,500 | $1,020,000 | $57,000 | $585,000 |
| 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 | $8,066,000 | $86,500 | $1,020,000 | $59,000 | $380,000 |
| Application Withdrawn By Applicant | 35 | $4,204,000 | $125,500 | $323,000 | $63,500 | $585,000 |
| Application Denied By Financial Institution | 29 | $3,175,000 | $120,500 | $461,000 | $47,000 | $83,000 |
| Application Approved But Not Accepted | 5 | $617,000 | $125,000 | $188,000 | $76,000 | $123,000 |
| File Closed For Incompleteness | 2 | $189,000 | $94,000 | $123,000 | $49,000 | $52,000 |
| Loan Purchased By The 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 | 12 | $1,233,000 | $105,000 | $197,000 | $50,500 | $83,000 |
| Debt-To-Income Ratio | 10 | $1,381,000 | $145,000 | $461,000 | $45,000 | $81,000 |
| Collateral | 2 | $137,000 | $68,000 | $80,000 | $56,000 | $59,000 |
| Other | 1 | $141,000 | $141,000 | $141,000 | $42,000 | $42,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Gateway Bank & Trust's 2003 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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with aggregated HMDA statistics today.
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