Planters Bank & Trust Company Mortgage Lending & HMDA Data, 2007
In 2007, Planters Bank & Trust Company of Staunton, VA reported 825 mortgage applications totaling $127.3 million, down 23% from 2006. The average application was for $154,315, and applicants reported an average income of $90,846. 84% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Harrisonburg, VA (147), Lynchburg, VA (102) and Roanoke, VA (40) (applications in parentheses).
| Mortgage Company & Address | Planters Bank & Trust Company 24 South Augusta Street Staunton, VA 24402 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 825 |
| Total Mortgage Loan Application Amount | $127,310,000 |
| Average Mortgage Loan Application Amount | $154,315 |
| Highest Mortgage Loan Application Amount | $1,796,000 |
| Average Applicant Income | $90,846 |
| Highest Applicant Income | $1,081,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Planters Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Planters Bank & Trust Company 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 |
|---|---|---|---|---|---|---|
| Refinancing | 446 | $70,398,000 | $157,000 | $1,796,000 | $84,000 | $630,000 |
| Home Purchase | 310 | $51,905,000 | $167,000 | $1,100,000 | $104,000 | $1,081,000 |
| Home Improvement | 69 | $5,007,000 | $72,000 | $387,000 | $76,000 | $360,000 |
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 | 720 | $109,025,000 | $151,000 | $1,796,000 | $97,000 | $1,081,000 |
| Not Provided | 37 | $5,641,000 | $152,000 | $387,000 | $81,000 | $547,000 |
| Not applicable | 29 | $8,203,000 | $282,000 | $1,106,000 | $0 | $0 |
| Black or African American | 18 | $1,891,000 | $105,000 | $280,000 | $53,000 | $100,000 |
| Hispanic | 16 | $1,673,000 | $104,000 | $248,000 | $56,000 | $120,000 |
| Asian | 4 | $502,000 | $125,000 | $312,000 | $37,000 | $63,000 |
| American Indian or Alaskan Native | 1 | $375,000 | $375,000 | $375,000 | $78,000 | $78,000 |
| 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) | 794 | $122,015,000 | $153,000 | $1,796,000 | $92,000 | $1,081,000 |
| FHA-insured (Federal Housing Administration) | 20 | $3,212,000 | $160,000 | $217,000 | $72,000 | $181,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,130,000 | $188,000 | $269,000 | $67,000 | $103,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $953,000 | $190,000 | $232,000 | $44,000 | $55,000 |
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 | 695 | $102,331,000 | $147,000 | $1,106,000 | $93,000 | $1,081,000 |
| Application Approved But Not Accepted | 64 | $13,180,000 | $205,000 | $470,000 | $80,000 | $490,000 |
| Application Denied By Financial Institution | 33 | $4,197,000 | $127,000 | $400,000 | $52,000 | $159,000 |
| Application Withdrawn By Applicant | 33 | $7,602,000 | $230,000 | $1,796,000 | $120,000 | $686,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 18 | $2,087,000 | $115,000 | $353,000 | $39,000 | $104,000 |
| Debt-To-Income Ratio | 8 | $955,000 | $119,000 | $359,000 | $69,000 | $137,000 |
| Collateral | 4 | $949,000 | $237,000 | $400,000 | $100,000 | $159,000 |
| Employment History | 1 | $130,000 | $130,000 | $130,000 | $34,000 | $34,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Planters Bank & Trust Company'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 Planters Bank & Trust Company'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.
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