Mortgage South Inc Mortgage Lending & HMDA Data, 2007
In 2007, Mortgage South Inc of Richmond, VA reported 203 mortgage applications totaling $33.5 million, down 2% from 2006. The average application was for $165,216, and applicants reported an average income of $66,477. 91% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Richmond, VA (98), Charlottesville, VA (45) and Washington-Arlington-Alexandria, DC-VA-MD-WV (13) (applications in parentheses).
| Mortgage Company & Address | Mortgage South Inc 5206 Markel Road Ste 100a Richmond, VA 23230 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 203 |
| Total Mortgage Loan Application Amount | $33,539,000 |
| Average Mortgage Loan Application Amount | $165,216 |
| Highest Mortgage Loan Application Amount | $471,000 |
| Average Applicant Income | $66,477 |
| Highest Applicant Income | $215,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mortgage South Inc filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Albemarle, Virginia | 19 | $ 2,843,000 | $ 149,631 | $ 82,000 |
| Fluvanna, Virginia | 15 | $ 2,531,000 | $ 168,733 | $ 62,000 |
| Henrico, Virginia | 15 | $ 2,442,000 | $ 162,800 | $ 68,000 |
| Louisa, Virginia | 12 | $ 2,150,000 | $ 179,166 | $ 68,000 |
| Richmond City, Virginia | 12 | $ 1,051,000 | $ 87,583 | $ 77,000 |
| Amelia, Virginia | 10 | $ 1,444,000 | $ 144,400 | $ 41,000 |
| Hanover, Virginia | 10 | $ 1,845,000 | $ 184,500 | $ 85,000 |
| Greene, Virginia | 9 | $ 1,486,000 | $ 165,111 | $ 64,000 |
| Spotsylvania, Virginia | 9 | $ 1,730,000 | $ 192,222 | $ 51,000 |
| Colonial Heights, Virginia | 7 | $ 906,000 | $ 129,428 | $ 62,000 |
| Essex, Virginia | 7 | $ 1,419,000 | $ 202,714 | $ 59,000 |
| Chesterfield, Virginia | 6 | $ 1,240,000 | $ 206,666 | $ 105,000 |
| Dinwiddie, Virginia | 5 | $ 707,000 | $ 141,400 | $ 56,000 |
| New Kent, Virginia | 5 | $ 961,000 | $ 192,200 | $ 66,000 |
| Caroline, Virginia | 4 | $ 620,000 | $ 155,000 | $ 51,000 |
| King William, Virginia | 4 | $ 825,000 | $ 206,250 | $ 59,000 |
| Richmond, Virginia | 4 | $ 609,000 | $ 152,250 | $ 44,000 |
| Iredell, North Carolina | 3 | $ 310,000 | $ 103,333 | $ 101,000 |
| Cumberland, Virginia | 3 | $ 456,000 | $ 152,000 | $ 38,000 |
| Lancaster, Virginia | 3 | $ 775,000 | $ 258,333 | $ 57,000 |
| Stafford, Virginia | 3 | $ 549,000 | $ 183,000 | $ 39,000 |
| Westmoreland, Virginia | 3 | $ 525,000 | $ 175,000 | $ 53,000 |
| Mecklenburg, North Carolina | 2 | $ 536,000 | $ 268,000 | $ 140,000 |
| Gloucester, Virginia | 2 | $ 434,000 | $ 217,000 | $ 64,000 |
| Nelson, Virginia | 2 | $ 492,000 | $ 246,000 | $ 129,000 |
| Waynesboro, Virginia | 2 | $ 306,000 | $ 153,000 | $ 64,000 |
| Forsyth, North Carolina | 1 | $ 471,000 | $ 471,000 | $ 80,000 |
| Halifax, North Carolina | 1 | $ 119,000 | $ 119,000 | $ 20,000 |
| Lincoln, North Carolina | 1 | $ 209,000 | $ 209,000 | $ 132,000 |
| McDowell, North Carolina | 1 | $ 125,000 | $ 125,000 | $ 32,000 |
| Horry, South Carolina | 1 | $ 100,000 | $ 100,000 | $ 36,000 |
| Amherst, Virginia | 1 | $ 112,000 | $ 112,000 | $ 44,000 |
| Bedford, Virginia | 1 | $ 133,000 | $ 133,000 | $ 58,000 |
| Bedford City, Virginia | 1 | $ 97,000 | $ 97,000 | $ 51,000 |
| Buckingham, Virginia | 1 | $ 248,000 | $ 248,000 | $ 66,000 |
| Buena Vista, Virginia | 1 | $ 196,000 | $ 196,000 | $ 56,000 |
| Campbell, Virginia | 1 | $ 277,000 | $ 277,000 | $ 76,000 |
| Goochland, Virginia | 1 | $ 97,000 | $ 97,000 | $ 22,000 |
| King and Queen, Virginia | 1 | $ 148,000 | $ 148,000 | $ 32,000 |
| King George, Virginia | 1 | $ 251,000 | $ 251,000 | $ 131,000 |
| Petersburg, Virginia | 1 | $ 67,000 | $ 67,000 | $ 38,000 |
| Powhatan, Virginia | 1 | $ 203,000 | $ 203,000 | $ 54,000 |
| Prince William, Virginia | 1 | $ 204,000 | $ 204,000 | $ 41,000 |
| Roanoke, Virginia | 1 | $ 147,000 | $ 147,000 | $ 46,000 |
| Suffolk, Virginia | 1 | $ 151,000 | $ 151,000 | $ 49,000 |
| Sussex, Virginia | 1 | $ 181,000 | $ 181,000 | $ 55,000 |
| Washington, Virginia | 1 | $ 152,000 | $ 152,000 | $ 71,000 |
| Barbour, West Virginia | 1 | $ 72,000 | $ 72,000 | $ 48,000 |
| Doddridge, West Virginia | 1 | $ 75,000 | $ 75,000 | $ 43,000 |
| Monongalia, West Virginia | 1 | $ 108,000 | $ 108,000 | $ 18,000 |
| Raleigh, West Virginia | 1 | $ 143,000 | $ 143,000 | $ 118,000 |
| Randolph, West Virginia | 1 | $ 86,000 | $ 86,000 | $ 71,000 |
| Upshur, West Virginia | 1 | $ 175,000 | $ 175,000 | $ 141,000 |
Mortgage Loan Application Detail Totals for Mortgage South Inc 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 | 153 | $25,715,000 | $168,000 | $471,000 | $65,000 | $215,000 |
| Refinancing | 50 | $7,824,000 | $156,000 | $400,000 | $71,000 | $164,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 167 | $26,967,000 | $161,000 | $417,000 | $68,000 | $215,000 |
| Black or African American | 30 | $5,189,000 | $172,000 | $417,000 | $60,000 | $181,000 |
| Hispanic | 2 | $348,000 | $174,000 | $200,000 | $72,000 | $84,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $604,000 | $302,000 | $471,000 | $82,000 | $84,000 |
| Asian | 2 | $431,000 | $215,000 | $217,000 | $56,000 | $60,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 156 | $26,529,000 | $170,000 | $471,000 | $71,000 | $215,000 |
| FHA-insured (Federal Housing Administration) | 46 | $6,767,000 | $147,000 | $251,000 | $51,000 | $118,000 |
| VA-guaranteed (Veterans Administration) | 1 | $243,000 | $243,000 | $243,000 | $100,000 | $100,000 |
| 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 Originated | 184 | $30,469,000 | $165,000 | $471,000 | $68,000 | $215,000 |
| Application Withdrawn By Applicant | 13 | $1,942,000 | $149,000 | $204,000 | $56,000 | $132,000 |
| File Closed For Incompleteness | 4 | $781,000 | $195,000 | $279,000 | $43,000 | $54,000 |
| Application Denied By Financial Institution | 2 | $347,000 | $173,000 | $243,000 | $61,000 | $100,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mortgage South Inc'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 Mortgage South Inc'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 Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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