Gateway Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Gateway Bank & Trust of Ringgold, GA reported 210 mortgage applications totaling $21.6 million, down 12% from 2004. The average application was for $103,066, and applicants reported an average income of $46,947. 83% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Chattanooga, TN-GA (66) and Dalton, GA (2).
| 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 | 210 |
| Total Mortgage Loan Application Amount | $21,644,000 |
| Average Mortgage Loan Application Amount | $103,066 |
| Highest Mortgage Loan Application Amount | $1,274,000 |
| Average Applicant Income | $46,947 |
| Highest Applicant Income | $360,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 |
|---|---|---|---|---|---|---|
| Refinancing | 121 | $13,639,000 | $116,500 | $1,274,000 | $48,000 | $360,000 |
| Home Purchase | 65 | $7,114,000 | $115,500 | $499,000 | $48,000 | $355,000 |
| Home Improvement | 24 | $891,000 | $36,666 | $497,000 | $55,333 | $224,000 |
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 | 166 | $16,866,000 | $109,500 | $1,274,000 | $65,000 | $360,000 |
| Not applicable | 27 | $3,186,000 | $121,000 | $266,000 | $0 | $0 |
| Not Provided | 7 | $871,000 | $145,500 | $360,000 | $44,000 | $85,000 |
| Asian | 3 | $291,000 | $97,000 | $202,000 | $54,000 | $60,000 |
| Black or African American | 3 | $148,000 | $53,000 | $72,000 | $32,000 | $42,000 |
| Hispanic | 3 | $241,000 | $80,333 | $223,000 | $62,000 | $110,000 |
| American Indian or Alaskan Native | 1 | $41,000 | $41,000 | $41,000 | $52,000 | $52,000 |
| 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) | 210 | $21,644,000 | $73,666 | $1,274,000 | $51,000 | $360,000 |
| 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 | 175 | $17,928,000 | $73,333 | $1,274,000 | $49,666 | $360,000 |
| Application Denied By Financial Institution | 15 | $984,000 | $74,500 | $175,000 | $45,000 | $120,000 |
| Application Withdrawn By Applicant | 12 | $1,554,000 | $139,000 | $223,000 | $59,500 | $110,000 |
| Application Approved But Not Accepted | 7 | $1,117,000 | $159,000 | $360,000 | $68,000 | $90,000 |
| File Closed For Incompleteness | 1 | $61,000 | $61,000 | $61,000 | $74,000 | $74,000 |
| 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 | $726,000 | $73,500 | $175,000 | $47,500 | $120,000 |
| Debt-To-Income Ratio | 4 | $258,000 | $64,000 | $170,000 | $18,000 | $29,000 |
| 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 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.
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