Planters Bank & Trust Company Mortgage Lending & HMDA Data, 2006
In 2006, Planters Bank & Trust Company of Staunton, VA reported 1,069 mortgage applications totaling $154.6 million, up 24% from 2005. The average application was for $144,618, and applicants reported an average income of $70,950. 80% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Lynchburg, VA (151), Harrisonburg, VA (119) and Roanoke, VA (58) (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 | 1,069 |
| Total Mortgage Loan Application Amount | $154,597,000 |
| Average Mortgage Loan Application Amount | $144,618 |
| Highest Mortgage Loan Application Amount | $2,350,000 |
| Average Applicant Income | $70,950 |
| Highest Applicant Income | $1,229,000 |
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records Planters Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2006
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 | 505 | $69,866,000 | $138,000 | $1,200,000 | $66,000 | $504,000 |
| Home Purchase | 465 | $78,227,000 | $168,000 | $2,350,000 | $81,000 | $1,229,000 |
| Home Improvement | 99 | $6,504,000 | $65,000 | $417,000 | $49,000 | $197,000 |
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 | 950 | $135,149,000 | $142,000 | $1,344,000 | $75,000 | $1,229,000 |
| Not applicable | 44 | $9,837,000 | $223,000 | $2,350,000 | $4,000 | $141,000 |
| Black or African American | 25 | $2,498,000 | $99,000 | $265,000 | $46,000 | $104,000 |
| Not Provided | 23 | $3,094,000 | $134,000 | $243,000 | $51,000 | $145,000 |
| Hispanic | 15 | $1,957,000 | $130,000 | $400,000 | $70,000 | $143,000 |
| Asian | 9 | $1,800,000 | $200,000 | $410,000 | $77,000 | $140,000 |
| American Indian or Alaskan Native | 2 | $252,000 | $126,000 | $162,000 | $33,000 | $37,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $10,000 | $10,000 | $10,000 | $6,000 | $6,000 |
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) | 1,021 | $147,916,000 | $144,000 | $2,350,000 | $72,000 | $1,229,000 |
| FHA-insured (Federal Housing Administration) | 34 | $4,433,000 | $130,000 | $203,000 | $55,000 | $144,000 |
| VA-guaranteed (Veterans Administration) | 13 | $2,094,000 | $161,000 | $284,000 | $67,000 | $261,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $154,000 | $154,000 | $154,000 | $29,000 | $29,000 |
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 | 860 | $121,952,000 | $141,000 | $2,350,000 | $73,000 | $1,229,000 |
| Application Withdrawn By Applicant | 88 | $15,184,000 | $172,000 | $1,200,000 | $71,000 | $960,000 |
| Application Approved But Not Accepted | 71 | $12,593,000 | $177,000 | $575,000 | $69,000 | $261,000 |
| Application Denied By Financial Institution | 39 | $3,122,000 | $80,000 | $368,000 | $34,000 | $96,000 |
| File Closed For Incompleteness | 11 | $1,746,000 | $158,000 | $351,000 | $37,000 | $129,000 |
| 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 | 30 | $2,168,000 | $72,000 | $368,000 | $30,000 | $75,000 |
| Collateral | 3 | $202,000 | $67,000 | $114,000 | $40,000 | $48,000 |
| Debt-To-Income Ratio | 2 | $316,000 | $158,000 | $181,000 | $72,000 | $96,000 |
| Employment History | 2 | $198,000 | $99,000 | $102,000 | $41,000 | $43,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $153,000 | $153,000 | $153,000 | $45,000 | $45,000 |
| 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 2006 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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