Second Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, Second Bank & Trust of Fredericksburg, VA reported 672 mortgage applications totaling $88.0 million. The average application was for $130,976, and applicants reported an average income of $77,770. 86% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Charlottesville, VA (13) and Richmond-Petersburg, VA (3).
| 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 | 672 |
| Total Mortgage Loan Application Amount | $88,016,000 |
| Average Mortgage Loan Application Amount | $130,976 |
| Highest Mortgage Loan Application Amount | $1,100,000 |
| Average Applicant Income | $77,770 |
| Highest Applicant Income | $700,000 |
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Act (HMDA) records Second Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 237 | $ 32,893,000 | $ 138,789 | $ 75,000 |
| Orange, Virginia | 156 | $ 19,582,000 | $ 125,525 | $ 81,000 |
| Madison, Virginia | 112 | $ 10,369,000 | $ 92,580 | $ 62,000 |
| Fauquier, Virginia | 42 | $ 6,229,000 | $ 148,309 | $ 49,000 |
| Spotsylvania, Virginia | 18 | $ 3,349,000 | $ 186,055 | $ 95,000 |
| Rappahannock, Virginia | 15 | $ 1,695,000 | $ 113,000 | $ 65,000 |
| Rockingham, Virginia | 13 | $ 2,475,000 | $ 190,384 | $ 73,000 |
| Fairfax, Virginia | 9 | $ 1,648,000 | $ 183,111 | $ 100,000 |
| Harrisonburg, Virginia | 8 | $ 1,265,000 | $ 158,125 | $ 98,000 |
| Greene, Virginia | 7 | $ 570,000 | $ 81,428 | $ 76,000 |
| Augusta, Virginia | 5 | $ 1,481,000 | $ 296,200 | $ 29,000 |
| Shenandoah, Virginia | 5 | $ 500,000 | $ 100,000 | $ 48,000 |
| Louisa, Virginia | 4 | $ 376,000 | $ 94,000 | $ 60,000 |
| Prince William, Virginia | 4 | $ 512,000 | $ 128,000 | $ 140,000 |
| Stafford, Virginia | 4 | $ 608,000 | $ 152,000 | $ 95,000 |
| Westmoreland, Virginia | 4 | $ 356,000 | $ 89,000 | $ 74,000 |
| Albemarle, Virginia | 3 | $ 662,000 | $ 220,666 | $ 73,000 |
| Charlottesville, Virginia | 2 | $ 312,000 | $ 156,000 | $ 201,000 |
| Fredericksburg, Virginia | 2 | $ 400,000 | $ 200,000 | $ 111,000 |
| Henrico, Virginia | 2 | $ 221,000 | $ 110,500 | $ 35,000 |
| Loudoun, Virginia | 2 | $ 438,000 | $ 219,000 | $ 106,000 |
| Manassas, Virginia | 2 | $ 282,000 | $ 141,000 | $ 108,000 |
| Middlesex, Virginia | 2 | $ 114,000 | $ 57,000 | $ 118,000 |
| Page, Virginia | 2 | $ 159,000 | $ 79,500 | $ 347,000 |
| Warren, Virginia | 2 | $ 168,000 | $ 84,000 | $ 88,000 |
| Montgomery, Maryland | 1 | $ 84,000 | $ 84,000 | $ 110,000 |
| Arlington, Virginia | 1 | $ 76,000 | $ 76,000 | $ 58,000 |
| Chesterfield, Virginia | 1 | $ 97,000 | $ 97,000 | $ 54,000 |
| Fluvanna, Virginia | 1 | $ 125,000 | $ 125,000 | $ 34,000 |
| Highland, Virginia | 1 | $ 250,000 | $ 250,000 | $ 214,000 |
| King George, Virginia | 1 | $ 200,000 | $ 200,000 | $ 145,000 |
| Manassas Park, Virginia | 1 | $ 260,000 | $ 260,000 | $ 90,000 |
| Montgomery, Virginia | 1 | $ 50,000 | $ 50,000 | $ 113,000 |
| Nelson, Virginia | 1 | $ 100,000 | $ 100,000 | $ 54,000 |
| Rockbridge, Virginia | 1 | $ 110,000 | $ 110,000 | $ 48,000 |
Mortgage Loan Application Detail Totals for Second Bank & Trust in 2003
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 (home purchase or home improvement, one-to-four family) | 442 | $55,083,000 | $104,000 | $910,000 | $90,500 | $534,000 |
| Home Purchase (one-to-four family) | 165 | $26,356,000 | $159,000 | $576,000 | $107,000 | $700,000 |
| Home Improvement (one-to-four family) | 54 | $1,565,000 | $28,000 | $200,000 | $59,000 | $128,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 11 | $5,012,000 | $455,000 | $1,100,000 | $0 | $0 |
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 | 580 | $74,319,000 | $106,000 | $1,100,000 | $93,500 | $700,000 |
| Information not provided by applicant in mail or telephone application | 49 | $7,080,000 | $144,000 | $332,000 | $84,000 | $230,000 |
| Black | 22 | $1,600,000 | $72,000 | $164,000 | $52,000 | $175,000 |
| Not applicable | 11 | $3,791,000 | $344,000 | $910,000 | $194,000 | $645,000 |
| Hispanic | 4 | $273,000 | $68,000 | $120,000 | $48,000 | $69,000 |
| Asian or Pacific Islander | 3 | $682,000 | $227,000 | $250,000 | $99,000 | $124,000 |
| Other | 2 | $243,000 | $121,000 | $124,000 | $50,000 | $58,000 |
| American Indian or Alaskan Native | 1 | $28,000 | $28,000 | $28,000 | $54,000 | $54,000 |
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) | 669 | $87,477,000 | $107,000 | $1,100,000 | $95,000 | $700,000 |
| VA-guaranteed (Veterans Administration) | 2 | $403,000 | $201,000 | $284,000 | $73,000 | $103,000 |
| FHA-insured (Federal Housing Administration) | 1 | $136,000 | $136,000 | $136,000 | $57,000 | $57,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 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 | 581 | $76,946,000 | $108,000 | $1,100,000 | $98,500 | $700,000 |
| Application Withdrawn By Applicant | 44 | $6,420,000 | $145,000 | $586,000 | $65,000 | $208,000 |
| Application Denied By Financial Institution | 35 | $2,948,000 | $84,000 | $221,000 | $54,000 | $124,000 |
| Application Approved But Not Accepted | 8 | $993,000 | $124,000 | $293,000 | $88,000 | $212,000 |
| Loan Purchased By The Institution | 3 | $628,000 | $209,000 | $250,000 | $139,000 | $152,000 |
| File Closed For Incompleteness | 1 | $81,000 | $81,000 | $81,000 | $51,000 | $51,000 |
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 | 20 | $1,581,000 | $79,000 | $221,000 | $47,000 | $90,000 |
| Debt-To-Income Ratio | 11 | $1,052,000 | $95,000 | $216,000 | $66,000 | $124,000 |
| Collateral | 2 | $144,000 | $72,000 | $114,000 | $38,000 | $47,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $123,000 | $123,000 | $123,000 | $78,000 | $78,000 |
| Other | 1 | $48,000 | $48,000 | $48,000 | $77,000 | $77,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Second Bank & Trust's 2003 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.
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with aggregated HMDA statistics today.
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