Patriot Bank N A Mortgage Lending & HMDA Data, 2005
In 2005, Patriot Bank N A of Martinsville, VA reported 46 mortgage applications totaling $4.4 million, down 31% from 2004. The average application was for $96,478, and applicants reported an average income of $99,130. 89% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Charlottesville, VA (9) 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 | 46 |
| Total Mortgage Loan Application Amount | $4,438,000 |
| Average Mortgage Loan Application Amount | $96,478 |
| Highest Mortgage Loan Application Amount | $351,000 |
| Average Applicant Income | $99,130 |
| Highest Applicant Income | $400,000 |
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Act (HMDA) records Patriot Bank N A filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 16 | $ 1,703,000 | $ 106,437 | $ 85,000 |
| Stafford, Virginia | 13 | $ 971,000 | $ 74,692 | $ 83,000 |
| Albemarle, Virginia | 7 | $ 670,000 | $ 95,714 | $ 47,000 |
| Orange, Virginia | 2 | $ 268,000 | $ 134,000 | $ 110,000 |
| Prince William, Virginia | 2 | $ 66,000 | $ 33,000 | $ 47,000 |
| Buckingham, Virginia | 1 | $ 20,000 | $ 20,000 | $ 14,000 |
| Caroline, Virginia | 1 | $ 232,000 | $ 232,000 | $ 342,000 |
| Charlottesville, Virginia | 1 | $ 81,000 | $ 81,000 | $ 102,000 |
| King George, Virginia | 1 | $ 72,000 | $ 72,000 | $ 118,000 |
| Nelson, Virginia | 1 | $ 4,000 | $ 4,000 | $ 40,000 |
| Westmoreland, Virginia | 1 | $ 351,000 | $ 351,000 | $ 400,000 |
Mortgage Loan Application Detail Totals for Patriot Bank N A in 2005
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 | 18 | $1,808,000 | $100,000 | $199,000 | $62,000 | $122,000 |
| Home Improvement | 14 | $204,000 | $14,000 | $50,000 | $52,000 | $111,000 |
| Home Purchase | 14 | $2,426,000 | $173,000 | $351,000 | $194,000 | $400,000 |
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 | 35 | $3,474,000 | $99,000 | $351,000 | $111,000 | $400,000 |
| Asian | 4 | $463,000 | $115,000 | $134,000 | $115,000 | $135,000 |
| Black or African American | 4 | $356,000 | $89,000 | $167,000 | $50,000 | $71,000 |
| Hispanic | 2 | $64,000 | $32,000 | $56,000 | $32,000 | $33,000 |
| Not applicable | 1 | $81,000 | $81,000 | $81,000 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 46 | $4,438,000 | $96,000 | $351,000 | $95,000 | $400,000 |
| 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 | 41 | $4,173,000 | $101,000 | $351,000 | $108,000 | $400,000 |
| Application Denied By Financial Institution | 4 | $112,000 | $28,000 | $82,000 | $22,000 | $33,000 |
| Application Withdrawn By Applicant | 1 | $153,000 | $153,000 | $153,000 | $38,000 | $38,000 |
| 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 | 3 | $104,000 | $34,000 | $82,000 | $18,000 | $23,000 |
| Debt-To-Income Ratio | 1 | $8,000 | $8,000 | $8,000 | $33,000 | $33,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Patriot Bank N A's 2005 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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