Monarch Bank Mortgage Lending & HMDA Data, 2012
In 2012, Monarch Bank of Chesapeake, VA reported 12,176 mortgage applications totaling $3.2 billion, up 48% from 2011. The average application was for $265,649, and applicants reported an average income of $91,724. 80% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (3,658), Virginia Beach-Norfolk-Newport News, VA-NC (3,303) and Bethesda-Rockville-Frederick, MD (1,150) (applications in parentheses).
| Mortgage Company & Address | Monarch Bank 1435 Crossways Boulevard, Suite 101 Chesapeake, VA 23320 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 12,176 |
| Total Mortgage Loan Application Amount | $3,234,549,000 |
| Average Mortgage Loan Application Amount | $265,649 |
| Highest Mortgage Loan Application Amount | $1,920,000 |
| Average Applicant Income | $91,724 |
| Highest Applicant Income | $5,044,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Monarch Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 3,658 | $ 1,162,832,000 | $ 317,887 | $ 96,601 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 3,303 | $ 794,604,000 | $ 240,570 | $ 83,569 |
| Bethesda-Rockville-Frederick, MD | 1,150 | $ 381,929,000 | $ 332,112 | $ 112,000 |
| Baltimore-Towson, MD | 979 | $ 288,389,000 | $ 294,575 | $ 92,000 |
| Charlotte-Gastonia-Rock Hill, NC-SC | 654 | $ 107,882,000 | $ 164,957 | $ 72,571 |
| Richmond, VA | 611 | $ 118,329,000 | $ 193,664 | $ 87,000 |
| Wilmington, NC | 346 | $ 60,300,000 | $ 174,277 | $ 77,000 |
| Jacksonville, NC | 104 | $ 20,300,000 | $ 195,192 | $ 42,000 |
| Raleigh-Cary, NC | 41 | $ 7,908,000 | $ 192,878 | $ 68,000 |
| Wilmington, DE-MD-NJ | 39 | $ 11,223,000 | $ 287,769 | $ 85,102 |
| Hagerstown-Martinsburg, MD-WV | 37 | $ 6,632,000 | $ 179,243 | $ 59,189 |
| Asheville, NC | 28 | $ 4,068,000 | $ 145,285 | $ 83,000 |
| Dover, DE | 15 | $ 3,930,000 | $ 262,000 | $ 88,000 |
| Charleston-North Charleston-Summerville, SC | 13 | $ 2,626,000 | $ 202,000 | $ 72,000 |
| Philadelphia, PA | 13 | $ 4,340,000 | $ 333,846 | $ 119,000 |
| Hickory-Lenoir-Morganton, NC | 12 | $ 2,884,000 | $ 240,333 | $ 80,000 |
| Charlottesville, VA | 10 | $ 2,504,000 | $ 250,400 | $ 196,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 10 | $ 1,463,000 | $ 146,300 | $ 93,000 |
| York-Hanover, PA | 10 | $ 2,107,000 | $ 210,700 | $ 49,000 |
| Greensboro-High Point, NC | 8 | $ 1,299,000 | $ 162,375 | $ 78,000 |
| Greenville-Mauldin-Easley, SC | 7 | $ 1,321,000 | $ 188,714 | $ 67,000 |
| Pittsburgh, PA | 7 | $ 1,550,000 | $ 221,428 | $ 70,000 |
| Columbia, SC | 6 | $ 1,143,000 | $ 190,500 | $ 85,000 |
| Durham-Chapel Hill, NC | 6 | $ 1,561,000 | $ 260,166 | $ 145,000 |
| Fayetteville, NC | 6 | $ 1,110,000 | $ 185,000 | $ 45,000 |
| Greenville, NC | 6 | $ 1,429,000 | $ 238,166 | $ 99,000 |
| Cumberland, MD-WV | 5 | $ 871,000 | $ 174,200 | $ 188,400 |
| Lynchburg, VA | 5 | $ 1,376,000 | $ 275,200 | $ 95,000 |
| Winchester, VA-WV | 5 | $ 1,084,000 | $ 216,800 | $ 82,000 |
| Winston-Salem, NC | 5 | $ 679,000 | $ 135,800 | $ 63,000 |
| Blacksburg-Christiansburg-Radford, VA | 4 | $ 592,000 | $ 148,000 | $ 265,000 |
| Spartanburg, SC | 4 | $ 649,000 | $ 162,250 | $ 60,000 |
| Roanoke, VA | 3 | $ 404,000 | $ 134,666 | $ 58,000 |
| Charleston, WV | 2 | $ 286,000 | $ 143,000 | $ 71,000 |
| Goldsboro, NC | 2 | $ 220,000 | $ 110,000 | $ 17,000 |
| Harrisburg-Carlisle, PA | 2 | $ 460,000 | $ 230,000 | $ 68,000 |
| Scranton--Wilkes-Barre, PA | 2 | $ 564,000 | $ 282,000 | $ 84,000 |
| Youngstown-Warren-Boardman, OH-PA | 2 | $ 650,000 | $ 325,000 | $ 0 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 614,000 | $ 614,000 | $ 229,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 121,000 | $ 121,000 | $ 90,000 |
| Burlington, NC | 1 | $ 122,000 | $ 122,000 | $ 77,000 |
| Danville, VA | 1 | $ 122,000 | $ 122,000 | $ 175,000 |
| Florence, SC | 1 | $ 189,000 | $ 189,000 | $ 72,000 |
| Harrisonburg, VA | 1 | $ 235,000 | $ 235,000 | $ 112,000 |
| Lancaster, PA | 1 | $ 124,000 | $ 124,000 | $ 271,000 |
| State College, PA | 1 | $ 250,000 | $ 250,000 | $ 225,000 |
Mortgage Loan Application Detail Totals for Monarch Bank in 2012
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 | 6,005 | $1,832,171,000 | $305,000 | $1,920,000 | $98,000 | $5,044,000 |
| Home Purchase | 5,878 | $1,339,814,000 | $227,000 | $1,366,000 | $85,000 | $977,000 |
| Home Improvement | 293 | $62,564,000 | $213,000 | $999,000 | $98,000 | $662,000 |
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 | 7,884 | $2,099,100,000 | $266,000 | $1,920,000 | $99,000 | $5,044,000 |
| Black or African American | 1,563 | $358,790,000 | $229,000 | $796,000 | $70,000 | $2,647,000 |
| Not Provided | 1,389 | $437,958,000 | $315,000 | $1,421,000 | $84,000 | $1,440,000 |
| Hispanic | 776 | $179,590,000 | $231,000 | $1,031,000 | $64,000 | $503,000 |
| Asian | 452 | $135,308,000 | $299,000 | $989,000 | $105,000 | $375,000 |
| Not applicable | 52 | $8,793,000 | $169,000 | $658,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 42 | $10,398,000 | $247,000 | $716,000 | $93,000 | $264,000 |
| American Indian or Alaskan Native | 18 | $4,612,000 | $256,000 | $417,000 | $82,000 | $190,000 |
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) | 5,900 | $1,516,225,000 | $256,000 | $1,920,000 | $126,000 | $5,044,000 |
| FHA-insured (Federal Housing Administration) | 3,254 | $738,391,000 | $226,000 | $853,000 | $64,000 | $698,000 |
| VA-guaranteed (Veterans Administration) | 2,577 | $896,968,000 | $348,000 | $965,000 | $53,000 | $1,440,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 445 | $82,965,000 | $186,000 | $416,000 | $55,000 | $128,000 |
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 | 9,733 | $2,672,573,000 | $274,000 | $1,920,000 | $90,000 | $2,852,000 |
| Application Withdrawn By Applicant | 1,054 | $245,898,000 | $233,000 | $1,421,000 | $113,000 | $5,044,000 |
| File Closed For Incompleteness | 609 | $150,603,000 | $247,000 | $1,125,000 | $95,000 | $540,000 |
| Application Denied By Financial Institution | 596 | $121,518,000 | $203,000 | $1,173,000 | $70,000 | $660,000 |
| Application Approved But Not Accepted | 184 | $43,957,000 | $238,000 | $801,000 | $84,000 | $371,000 |
| 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 | 139 | $30,925,000 | $222,000 | $1,173,000 | $65,000 | $340,000 |
| Debt-To-Income Ratio | 123 | $28,061,000 | $228,000 | $999,000 | $63,000 | $360,000 |
| Other | 106 | $22,432,000 | $211,000 | $840,000 | $84,000 | $660,000 |
| Collateral | 42 | $7,829,000 | $186,000 | $788,000 | $84,000 | $235,000 |
| Employment History | 17 | $2,343,000 | $137,000 | $320,000 | $32,000 | $75,000 |
| Unverifiable Information | 16 | $3,436,000 | $214,000 | $458,000 | $75,000 | $186,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 11 | $1,798,000 | $163,000 | $459,000 | $73,000 | $354,000 |
| Credit Application Incomplete | 4 | $1,119,000 | $279,000 | $496,000 | $154,000 | $214,000 |
| Mortgage Insurance Denied | 2 | $373,000 | $186,000 | $246,000 | $157,000 | $271,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Monarch Bank's 2012 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 Monarch 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.
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with aggregated HMDA statistics today.
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