Gateway Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Gateway Bank & Trust of Ringgold, GA reported 217 mortgage applications totaling $29.4 million, up 12% from 2007. The average application was for $135,276, and applicants reported an average income of $80,230. 83% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Chattanooga, TN-GA (207), Dalton, GA (4) and Fort Walton Beach-Crestview-Destin, FL (2) (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 | 217 |
| Total Mortgage Loan Application Amount | $29,355,000 |
| Average Mortgage Loan Application Amount | $135,276 |
| Highest Mortgage Loan Application Amount | $1,963,000 |
| Average Applicant Income | $80,230 |
| Highest Applicant Income | $735,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2008
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 | 165 | $22,281,000 | $135,000 | $1,963,000 | $74,000 | $735,000 |
| Home Purchase | 44 | $6,786,000 | $154,000 | $1,300,000 | $98,000 | $620,000 |
| Home Improvement | 8 | $288,000 | $36,000 | $121,000 | $111,000 | $449,000 |
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 | 145 | $17,733,000 | $122,000 | $1,963,000 | $108,000 | $735,000 |
| Not applicable | 60 | $9,140,000 | $152,000 | $1,100,000 | $0 | $0 |
| Black or African American | 5 | $365,000 | $73,000 | $88,000 | $156,000 | $199,000 |
| Not Provided | 4 | $649,000 | $162,000 | $339,000 | $50,000 | $78,000 |
| Asian | 2 | $168,000 | $84,000 | $116,000 | $110,000 | $188,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $1,300,000 | $1,300,000 | $1,300,000 | $620,000 | $620,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 217 | $29,355,000 | $135,000 | $1,963,000 | $80,000 | $735,000 |
| 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 | 181 | $23,820,000 | $131,000 | $1,963,000 | $84,000 | $735,000 |
| Application Denied By Financial Institution | 21 | $2,736,000 | $130,000 | $350,000 | $52,000 | $259,000 |
| Application Withdrawn By Applicant | 10 | $1,865,000 | $186,000 | $339,000 | $79,000 | $170,000 |
| Application Approved But Not Accepted | 4 | $729,000 | $182,000 | $425,000 | $55,000 | $141,000 |
| File Closed For Incompleteness | 1 | $205,000 | $205,000 | $205,000 | $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 | 16 | $1,647,000 | $102,000 | $195,000 | $54,000 | $259,000 |
| Debt-To-Income Ratio | 3 | $611,000 | $203,000 | $350,000 | $21,000 | $28,000 |
| Employment History | 2 | $478,000 | $239,000 | $300,000 | $82,000 | $83,000 |
| 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 2008 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 Georgia, download the full spreadsheet
with aggregated HMDA statistics today.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About