Ironstone Bank Mortgage Lending & HMDA Data, 2007
In 2007, Ironstone Bank of Raleigh, NC reported 367 mortgage applications totaling $72.1 million, down 27% from 2006. The average application was for $196,354, and applicants reported an average income of $108,302. 30% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (75), Cape Coral-Fort Myers, FL (49) and Albuquerque, NM (23) (applications in parentheses).
| Mortgage Company & Address | Ironstone Bank 16 E Rowan Street Raleigh, NC 27609 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 367 |
| Total Mortgage Loan Application Amount | $72,062,000 |
| Average Mortgage Loan Application Amount | $196,354 |
| Highest Mortgage Loan Application Amount | $3,600,000 |
| Average Applicant Income | $108,302 |
| Highest Applicant Income | $2,799,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Ironstone Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Atlanta-Sandy Springs-Marietta, GA | 75 | $ 10,996,000 | $ 146,613 | $ 112,000 |
| Cape Coral-Fort Myers, FL | 49 | $ 13,368,000 | $ 272,816 | $ 92,000 |
| Albuquerque, NM | 23 | $ 3,870,000 | $ 168,260 | $ 79,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 20 | $ 3,200,000 | $ 160,000 | $ 95,000 |
| Naples-Marco Island, FL | 19 | $ 6,474,000 | $ 340,736 | $ 116,000 |
| Austin-Round Rock, TX | 18 | $ 3,591,000 | $ 199,500 | $ 109,000 |
| Santa Fe, NM | 17 | $ 3,380,000 | $ 198,823 | $ 413,000 |
| Portland-Vancouver-Beaverton, OR-WA | 16 | $ 2,649,000 | $ 165,562 | $ 52,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 16 | $ 3,383,000 | $ 211,437 | $ 43,000 |
| Denver-Aurora, CO | 15 | $ 1,779,000 | $ 118,600 | $ 39,000 |
| Jacksonville, FL | 15 | $ 2,599,000 | $ 173,266 | $ 72,000 |
| Phoenix-Mesa-Scottsdale, AZ | 15 | $ 3,758,000 | $ 250,533 | $ 205,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 14 | $ 2,644,000 | $ 188,857 | $ 58,000 |
| San Diego-Carlsbad-San Marcos, CA | 12 | $ 2,072,000 | $ 172,666 | $ 56,000 |
| Santa Ana-Anaheim-Irvine, CA | 12 | $ 2,746,000 | $ 228,833 | $ 72,000 |
| Seattle-Bellevue-Everett, WA | 12 | $ 1,679,000 | $ 139,916 | $ 38,000 |
| Athens-Clarke County, GA | 1 | $ 242,000 | $ 242,000 | $ 91,000 |
| Las Vegas-Paradise, NV | 1 | $ 30,000 | $ 30,000 | $ 150,000 |
| Macon, GA | 1 | $ 440,000 | $ 440,000 | $ 305,000 |
| Miami-Miami Beach-Kendall, FL | 1 | $ 250,000 | $ 250,000 | $ 130,000 |
| Panama City-Lynn Haven, FL | 1 | $ 225,000 | $ 225,000 | $ 1,214,000 |
| Port St. Lucie, FL | 1 | $ 250,000 | $ 250,000 | $ 0 |
| Stockton, CA | 1 | $ 320,000 | $ 320,000 | $ 30,000 |
Mortgage Loan Application Detail Totals for Ironstone Bank in 2007
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 179 | $34,618,000 | $193,000 | $3,600,000 | $86,000 | $1,479,000 |
| Refinancing | 159 | $34,984,000 | $220,000 | $3,500,000 | $130,000 | $2,799,000 |
| Home Improvement | 29 | $2,460,000 | $84,000 | $400,000 | $127,000 | $660,000 |
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 | 185 | $36,979,000 | $199,000 | $3,600,000 | $103,000 | $1,479,000 |
| Black or African American | 61 | $9,796,000 | $160,000 | $900,000 | $49,000 | $220,000 |
| Hispanic | 50 | $7,446,000 | $148,000 | $985,000 | $88,000 | $900,000 |
| Not Provided | 48 | $8,392,000 | $174,000 | $560,000 | $227,000 | $2,799,000 |
| Asian | 11 | $3,101,000 | $281,000 | $1,350,000 | $199,000 | $1,550,000 |
| Not applicable | 10 | $6,056,000 | $605,000 | $3,500,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $124,000 | $124,000 | $124,000 | $125,000 | $125,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $168,000 | $168,000 | $168,000 | $43,000 | $43,000 |
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) | 333 | $67,141,000 | $201,000 | $3,600,000 | $115,000 | $2,799,000 |
| FHA-insured (Federal Housing Administration) | 28 | $3,879,000 | $138,000 | $203,000 | $39,000 | $56,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,042,000 | $173,000 | $248,000 | $57,000 | $104,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 Purchased By The Institution | 170 | $22,907,000 | $134,000 | $265,000 | $40,000 | $147,000 |
| Loan Originated | 109 | $26,113,000 | $239,000 | $3,500,000 | $183,000 | $2,799,000 |
| Application Approved But Not Accepted | 30 | $5,383,000 | $179,000 | $1,000,000 | $172,000 | $660,000 |
| Application Denied By Financial Institution | 28 | $8,448,000 | $301,000 | $3,600,000 | $123,000 | $1,479,000 |
| File Closed For Incompleteness | 15 | $6,671,000 | $444,000 | $1,500,000 | $249,000 | $1,550,000 |
| Preapproval Denied by Financial Institution | 8 | $1,298,000 | $162,000 | $271,000 | $38,000 | $68,000 |
| Application Withdrawn By Applicant | 7 | $1,242,000 | $177,000 | $560,000 | $50,000 | $106,000 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 16 | $3,293,000 | $205,000 | $620,000 | $74,000 | $193,000 |
| Credit History | 10 | $1,490,000 | $149,000 | $500,000 | $59,000 | $220,000 |
| Collateral | 4 | $4,171,000 | $1,042,000 | $3,600,000 | $429,000 | $1,479,000 |
| Other | 3 | $477,000 | $159,000 | $226,000 | $53,000 | $66,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $189,000 | $94,000 | $112,000 | $26,000 | $28,000 |
| Credit Application Incomplete | 1 | $126,000 | $126,000 | $126,000 | $39,000 | $39,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Ironstone Bank's 2007 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 Ironstone Bank'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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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