Second Bank & Trust Mortgage Lending & HMDA Data, 2007
In 2007, Second Bank & Trust of Fredericksburg, VA reported 481 mortgage applications totaling $96.4 million, up 37% from 2006. The average application was for $200,465, and applicants reported an average income of $96,931. 81% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (108), Charlottesville, VA (62) and Richmond, VA (57) (applications in parentheses).
| Mortgage Company & Address | Second Bank & Trust 4805 Lassen Lane Fredericksburg, VA 22408 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 481 |
| Total Mortgage Loan Application Amount | $96,424,000 |
| Average Mortgage Loan Application Amount | $200,465 |
| Highest Mortgage Loan Application Amount | $3,729,000 |
| Average Applicant Income | $96,931 |
| Highest Applicant Income | $1,320,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Second Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Culpeper, Virginia | 96 | $ 20,314,000 | $ 211,604 | $ 83,000 |
| Madison, Virginia | 67 | $ 10,549,000 | $ 157,447 | $ 90,000 |
| Spotsylvania, Virginia | 67 | $ 13,132,000 | $ 196,000 | $ 137,000 |
| Orange, Virginia | 59 | $ 9,749,000 | $ 165,237 | $ 73,000 |
| Albemarle, Virginia | 33 | $ 10,013,000 | $ 303,424 | $ 120,000 |
| Caroline, Virginia | 27 | $ 4,163,000 | $ 154,185 | $ 66,000 |
| Louisa, Virginia | 17 | $ 2,842,000 | $ 167,176 | $ 60,000 |
| Greene, Virginia | 14 | $ 2,319,000 | $ 165,642 | $ 63,000 |
| Stafford, Virginia | 14 | $ 4,551,000 | $ 325,071 | $ 104,000 |
| Fredericksburg, Virginia | 12 | $ 2,603,000 | $ 216,916 | $ 109,000 |
| Charlottesville, Virginia | 8 | $ 1,454,000 | $ 181,750 | $ 266,000 |
| Rappahannock, Virginia | 8 | $ 1,274,000 | $ 159,250 | $ 52,000 |
| Fairfax, Virginia | 6 | $ 1,815,000 | $ 302,500 | $ 150,000 |
| Fluvanna, Virginia | 5 | $ 2,228,000 | $ 445,600 | $ 42,000 |
| Henrico, Virginia | 5 | $ 877,000 | $ 175,400 | $ 49,000 |
| Fauquier, Virginia | 4 | $ 809,000 | $ 202,250 | $ 276,000 |
| King George, Virginia | 4 | $ 911,000 | $ 227,750 | $ 80,000 |
| Loudoun, Virginia | 4 | $ 566,000 | $ 141,500 | $ 97,000 |
| Lancaster, Virginia | 3 | $ 407,000 | $ 135,666 | $ 171,000 |
| Westmoreland, Virginia | 3 | $ 569,000 | $ 189,666 | $ 119,000 |
| Augusta, Virginia | 2 | $ 281,000 | $ 140,500 | $ 42,000 |
| Hanover, Virginia | 2 | $ 351,000 | $ 175,500 | $ 115,000 |
| Nelson, Virginia | 2 | $ 270,000 | $ 135,000 | $ 38,000 |
| Richmond, Virginia | 2 | $ 148,000 | $ 74,000 | $ 172,000 |
| Salem, Virginia | 2 | $ 451,000 | $ 225,500 | $ 61,000 |
| Washington, Maryland | 1 | $ 207,000 | $ 207,000 | $ 225,000 |
| Clearfield, Pennsylvania | 1 | $ 95,000 | $ 95,000 | $ 26,000 |
| Horry, South Carolina | 1 | $ 120,000 | $ 120,000 | $ 150,000 |
| Chesterfield, Virginia | 1 | $ 250,000 | $ 250,000 | $ 48,000 |
| Cumberland, Virginia | 1 | $ 127,000 | $ 127,000 | $ 47,000 |
| Dinwiddie, Virginia | 1 | $ 125,000 | $ 125,000 | $ 48,000 |
| Goochland, Virginia | 1 | $ 350,000 | $ 350,000 | $ 218,000 |
| King William, Virginia | 1 | $ 200,000 | $ 200,000 | $ 70,000 |
| Montgomery, Virginia | 1 | $ 90,000 | $ 90,000 | $ 186,000 |
| Northumberland, Virginia | 1 | $ 372,000 | $ 372,000 | $ 124,000 |
| Poquoson, Virginia | 1 | $ 257,000 | $ 257,000 | $ 60,000 |
| Prince William, Virginia | 1 | $ 373,000 | $ 373,000 | $ 65,000 |
| Richmond City, Virginia | 1 | $ 104,000 | $ 104,000 | $ 60,000 |
| Virginia Beach, Virginia | 1 | $ 1,040,000 | $ 1,040,000 | $ 0 |
Mortgage Loan Application Detail Totals for Second Bank & Trust 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 | 269 | $58,766,000 | $218,000 | $3,729,000 | $102,000 | $1,040,000 |
| Home Purchase | 159 | $35,101,000 | $220,000 | $1,200,000 | $97,000 | $1,320,000 |
| Home Improvement | 53 | $2,557,000 | $48,000 | $260,000 | $71,000 | $376,000 |
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 | 262 | $45,761,000 | $174,000 | $1,200,000 | $90,000 | $1,320,000 |
| Not Provided | 170 | $34,272,000 | $201,000 | $1,000,000 | $123,000 | $984,000 |
| Black or African American | 28 | $3,822,000 | $136,000 | $600,000 | $60,000 | $277,000 |
| Not applicable | 15 | $10,856,000 | $723,000 | $3,729,000 | $0 | $0 |
| Hispanic | 3 | $1,270,000 | $423,000 | $850,000 | $119,000 | $231,000 |
| American Indian or Alaskan Native | 2 | $293,000 | $146,000 | $225,000 | $39,000 | $78,000 |
| Asian | 1 | $150,000 | $150,000 | $150,000 | $92,000 | $92,000 |
| 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) | 474 | $94,625,000 | $199,000 | $3,729,000 | $97,000 | $1,320,000 |
| FHA-insured (Federal Housing Administration) | 3 | $617,000 | $205,000 | $256,000 | $136,000 | $277,000 |
| VA-guaranteed (Veterans Administration) | 3 | $963,000 | $321,000 | $390,000 | $87,000 | $121,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $219,000 | $219,000 | $219,000 | $50,000 | $50,000 |
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 | 390 | $77,528,000 | $198,000 | $3,729,000 | $101,000 | $1,320,000 |
| Application Approved But Not Accepted | 37 | $8,543,000 | $230,000 | $1,200,000 | $80,000 | $200,000 |
| Application Withdrawn By Applicant | 30 | $6,278,000 | $209,000 | $1,000,000 | $102,000 | $984,000 |
| Application Denied By Financial Institution | 24 | $4,075,000 | $169,000 | $600,000 | $54,000 | $144,000 |
| 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 | 16 | $2,261,000 | $141,000 | $600,000 | $52,000 | $94,000 |
| Debt-To-Income Ratio | 4 | $727,000 | $181,000 | $228,000 | $33,000 | $45,000 |
| Collateral | 4 | $1,087,000 | $271,000 | $416,000 | $86,000 | $144,000 |
| 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 Second Bank & Trust'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 Second 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 Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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