Patriot Bank N A Mortgage Lending & HMDA Data, 2004
In 2004, Patriot Bank N A of Martinsville, VA reported 67 mortgage applications totaling $9.2 million, up 31% from 2003. The average application was for $137,716, and applicants reported an average income of $53,552. 87% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Charlottesville, VA (18) and Richmond, VA (1).
| Mortgage Company & Address | Patriot Bank N A P O Box 3748 Martinsville, VA 24115 |
| Federal Regulator | * available with data download |
| Years | 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 67 |
| Total Mortgage Loan Application Amount | $9,227,000 |
| Average Mortgage Loan Application Amount | $137,716 |
| Highest Mortgage Loan Application Amount | $2,000,000 |
| Average Applicant Income | $53,552 |
| Highest Applicant Income | $156,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Patriot Bank N A filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Spotsylvania, Virginia | 20 | $ 1,340,000 | $ 67,000 | $ 50,000 |
| Charlottesville, Virginia | 15 | $ 2,693,000 | $ 179,533 | $ 86,000 |
| Stafford, Virginia | 15 | $ 1,418,000 | $ 94,533 | $ 53,000 |
| Orange, Virginia | 6 | $ 531,000 | $ 88,500 | $ 31,000 |
| Albemarle, Virginia | 3 | $ 350,000 | $ 116,666 | $ 61,000 |
| Fredericksburg, Virginia | 3 | $ 397,000 | $ 132,333 | $ 54,000 |
| Prince William, Virginia | 2 | $ 293,000 | $ 146,500 | $ 44,000 |
| Essex, Virginia | 1 | $ 2,000,000 | $ 2,000,000 | $ 0 |
| Louisa, Virginia | 1 | $ 5,000 | $ 5,000 | $ 44,000 |
| Westmoreland, Virginia | 1 | $ 200,000 | $ 200,000 | $ 139,000 |
Mortgage Loan Application Detail Totals for Patriot Bank N A in 2004
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 | 41 | $7,846,000 | $191,000 | $2,000,000 | $56,000 | $156,000 |
| Home Improvement | 19 | $325,000 | $17,000 | $90,000 | $47,000 | $96,000 |
| Home Purchase | 7 | $1,056,000 | $150,000 | $248,000 | $57,000 | $139,000 |
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 | 40 | $5,378,000 | $134,000 | $2,000,000 | $57,000 | $156,000 |
| Asian | 15 | $2,800,000 | $186,000 | $866,000 | $102,000 | $102,000 |
| Black or African American | 5 | $84,000 | $16,000 | $67,000 | $28,000 | $44,000 |
| Not applicable | 5 | $713,000 | $142,000 | $160,000 | $6,000 | $41,000 |
| Hispanic | 2 | $252,000 | $126,000 | $248,000 | $85,000 | $96,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 67 | $9,227,000 | $137,000 | $2,000,000 | $52,000 | $156,000 |
| 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 | 58 | $8,930,000 | $153,000 | $2,000,000 | $54,000 | $156,000 |
| Application Denied By Financial Institution | 8 | $212,000 | $26,000 | $158,000 | $46,000 | $58,000 |
| Application Approved But Not Accepted | 1 | $85,000 | $85,000 | $85,000 | $67,000 | $67,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 5 | $189,000 | $37,000 | $158,000 | $46,000 | $58,000 |
| Credit History | 2 | $18,000 | $9,000 | $15,000 | $50,000 | $58,000 |
| Other | 1 | $5,000 | $5,000 | $5,000 | $35,000 | $35,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Patriot Bank N A's 2004 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 Patriot Bank N A'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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