New Republic Bank Mortgage Lending & HMDA Data, 2023
In 2023, New Republic Bank of Charlotte, NC reported 32 mortgage applications totaling $18.2 million. The average application was for $569,375, and applicants reported an average income of $459,000. 59% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Charlotte-Concord-Gastonia, NC-SC (8), Raleigh, NC (6) and Baltimore-Columbia-Towson, MD (2) (applications in parentheses).
| Mortgage Company & Address | New Republic Bank 420 Becker Drive Charlotte, NC 27870 |
| Federal Regulator | * available with data download |
| Years | 2023 |
| Total Number of Mortgage Applications | 32 |
| Total Mortgage Loan Application Amount | $18,220,000 |
| Average Mortgage Loan Application Amount | $569,375 |
| Highest Mortgage Loan Application Amount | $2,355,000 |
| Average Applicant Income | $459,000 |
| Highest Applicant Income | $627,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records New Republic Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for New Republic Bank in 2023
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 | 17 | $12,435,000 | $731,000 | $2,285,000 | $0 | $0 |
| Cash-out Refinancing | 10 | $2,460,000 | $246,000 | $675,000 | $0 | $0 |
| Refinancing | 5 | $3,325,000 | $665,000 | $2,355,000 | $459,000 | $627,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 |
|---|---|---|---|---|---|---|
| Not applicable | 28 | $16,350,000 | $583,000 | $2,355,000 | $0 | $0 |
| Not Provided | 2 | $660,000 | $330,000 | $475,000 | $459,000 | $627,000 |
| Black or African American | 1 | $185,000 | $185,000 | $185,000 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| White | 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) | 32 | $18,220,000 | $569,000 | $2,355,000 | $459,000 | $627,000 |
| 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 | 19 | $5,645,000 | $297,000 | $1,825,000 | $459,000 | $627,000 |
| Loan Purchased By The Institution | 12 | $11,550,000 | $962,000 | $2,355,000 | $0 | $0 |
| Application Denied By Financial Institution | 1 | $1,025,000 | $1,025,000 | $1,025,000 | $0 | $0 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 32 | $18,220,000 | $569,000 | $2,355,000 | $459,000 | $627,000 |
| 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 |
| Not applicable | 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 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into New Republic Bank's 2023 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 New Republic 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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