Gateway Bank & Trust Mortgage Lending & HMDA Data, 2009
In 2009, Gateway Bank & Trust of Ringgold, GA reported 202 mortgage applications totaling $32.7 million, down 7% from 2008. The average application was for $162,064, and applicants reported an average income of $50,272. 74% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Chattanooga, TN-GA (195), Dalton, GA (2) and Atlanta-Sandy Springs-Marietta, 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 | 202 |
| Total Mortgage Loan Application Amount | $32,737,000 |
| Average Mortgage Loan Application Amount | $162,064 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $50,272 |
| Highest Applicant Income | $513,000 |
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Act (HMDA) records Gateway Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2009
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 | 131 | $23,126,000 | $176,000 | $2,000,000 | $59,000 | $306,000 |
| Home Purchase | 62 | $9,383,000 | $151,000 | $701,000 | $31,000 | $513,000 |
| Home Improvement | 9 | $228,000 | $25,000 | $77,000 | $56,000 | $121,000 |
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 | 126 | $19,414,000 | $154,000 | $2,000,000 | $71,000 | $513,000 |
| Not applicable | 63 | $10,931,000 | $173,000 | $1,100,000 | $0 | $0 |
| Not Provided | 4 | $382,000 | $95,000 | $219,000 | $73,000 | $86,000 |
| Black or African American | 4 | $624,000 | $156,000 | $415,000 | $158,000 | $200,000 |
| Asian | 2 | $236,000 | $118,000 | $150,000 | $89,000 | $178,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $1,042,000 | $521,000 | $1,000,000 | $47,000 | $75,000 |
| Hispanic | 1 | $108,000 | $108,000 | $108,000 | $48,000 | $48,000 |
| 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) | 188 | $30,815,000 | $163,000 | $2,000,000 | $51,000 | $513,000 |
| FHA-insured (Federal Housing Administration) | 14 | $1,922,000 | $137,000 | $377,000 | $43,000 | $88,000 |
| 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 | 150 | $25,793,000 | $171,000 | $2,000,000 | $48,000 | $513,000 |
| Application Denied By Financial Institution | 34 | $4,010,000 | $117,000 | $259,000 | $46,000 | $110,000 |
| Application Withdrawn By Applicant | 15 | $2,625,000 | $175,000 | $415,000 | $73,000 | $200,000 |
| Application Approved But Not Accepted | 3 | $309,000 | $103,000 | $120,000 | $88,000 | $127,000 |
| File Closed For Incompleteness | 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 | 17 | $1,493,000 | $87,000 | $153,000 | $40,000 | $80,000 |
| Debt-To-Income Ratio | 9 | $1,085,000 | $120,000 | $210,000 | $34,000 | $91,000 |
| Collateral | 7 | $1,232,000 | $176,000 | $259,000 | $79,000 | $110,000 |
| Other | 1 | $200,000 | $200,000 | $200,000 | $33,000 | $33,000 |
| 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 2009 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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