Palmetto Heritage Bank & Trust Mortgage Lending & HMDA Data, 2014
In 2014, Palmetto Heritage Bank & Trust of Pawleys Island, SC reported 30 mortgage applications totaling $82.4 million, about the same as 2013. The average application was for $2,747,800, and applicants reported an average income of $103,200. 90% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Myrtle Beach-Conway-North Myrtle Beach, SC-NC (6), Charleston-North Charleston, SC (3) and Columbia, SC (1) (applications in parentheses).
| Mortgage Company & Address | Palmetto Heritage Bank & Trust 10919 Ocean Highway Pawleys Island, SC 29585 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 |
| Total Number of Mortgage Applications | 30 |
| Total Mortgage Loan Application Amount | $82,434,000 |
| Average Mortgage Loan Application Amount | $2,747,800 |
| Highest Mortgage Loan Application Amount | $73,600,000 |
| Average Applicant Income | $103,200 |
| Highest Applicant Income | $461,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Palmetto Heritage Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Palmetto Heritage Bank & Trust in 2014
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 | 24 | $7,126,000 | $296,000 | $1,350,000 | $100,000 | $461,000 |
| Refinancing | 6 | $75,308,000 | $12,551,000 | $73,600,000 | $116,000 | $266,000 |
| 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 | 25 | $5,523,000 | $220,000 | $600,000 | $119,000 | $461,000 |
| Not applicable | 5 | $76,911,000 | $15,382,000 | $73,600,000 | $21,000 | $106,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 30 | $82,434,000 | $2,747,000 | $73,600,000 | $103,000 | $461,000 |
| 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 | 27 | $81,318,000 | $3,011,000 | $73,600,000 | $112,000 | $461,000 |
| Application Denied By Financial Institution | 3 | $1,116,000 | $372,000 | $535,000 | $18,000 | $55,000 |
| 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 |
| 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 | 1 | $482,000 | $482,000 | $482,000 | $0 | $0 |
| Debt-To-Income Ratio | 1 | $535,000 | $535,000 | $535,000 | $55,000 | $55,000 |
| Collateral | 1 | $99,000 | $99,000 | $99,000 | $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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Palmetto Heritage Bank & Trust's 2014 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 Palmetto Heritage 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.
For a list of all lenders in South Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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