Gateway Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Gateway Bank & Trust of Ringgold, GA reported 240 mortgage applications totaling $21.4 million, up 30% from 2003. The average application was for $89,075, and applicants reported an average income of $60,312. 84% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Chattanooga, TN-GA (72), Atlanta-Sandy Springs-Marietta, GA (1) and Dalton, GA (1) (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 | 240 |
| Total Mortgage Loan Application Amount | $21,378,000 |
| Average Mortgage Loan Application Amount | $89,075 |
| Highest Mortgage Loan Application Amount | $901,000 |
| Average Applicant Income | $60,312 |
| Highest Applicant Income | $1,600,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2004
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 | 123 | $13,599,000 | $115,500 | $901,000 | $53,500 | $644,000 |
| Home Purchase | 79 | $6,718,000 | $86,500 | $600,000 | $59,000 | $326,000 |
| Home Improvement | 38 | $1,061,000 | $27,000 | $138,000 | $76,000 | $1,600,000 |
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 | 200 | $15,967,000 | $83,500 | $600,000 | $69,500 | $1,600,000 |
| Not applicable | 33 | $5,017,000 | $155,000 | $901,000 | $12,500 | $178,000 |
| Asian | 2 | $99,000 | $49,000 | $52,000 | $38,000 | $48,000 |
| Black or African American | 2 | $120,000 | $60,000 | $70,000 | $36,000 | $42,000 |
| American Indian or Alaskan Native | 1 | $35,000 | $35,000 | $35,000 | $98,000 | $98,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $20,000 | $20,000 | $20,000 | $30,000 | $30,000 |
| Not Provided | 1 | $120,000 | $120,000 | $120,000 | $37,000 | $37,000 |
| Hispanic | 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) | 240 | $21,378,000 | $93,500 | $901,000 | $58,500 | $1,600,000 |
| 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 | 202 | $17,513,000 | $90,500 | $901,000 | $60,500 | $1,600,000 |
| Application Withdrawn By Applicant | 18 | $1,820,000 | $113,000 | $334,000 | $61,500 | $396,000 |
| Application Denied By Financial Institution | 13 | $916,000 | $59,000 | $196,000 | $31,500 | $91,000 |
| File Closed For Incompleteness | 4 | $517,000 | $123,500 | $203,000 | $68,000 | $215,000 |
| Application Approved But Not Accepted | 3 | $612,000 | $256,500 | $415,000 | $76,000 | $102,000 |
| 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 | 11 | $555,000 | $46,000 | $140,000 | $31,500 | $91,000 |
| Debt-To-Income Ratio | 2 | $361,000 | $180,000 | $196,000 | $41,000 | $52,000 |
| 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 2004 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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