Second Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Second Bank & Trust of Fredericksburg, VA reported 493 mortgage applications totaling $78.0 million, up 102% from 2004. The average application was for $158,182, and applicants reported an average income of $80,880. 84% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Harrisonburg, VA (98), Charlottesville, VA (36) and Richmond, VA (14) (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 | 493 |
| Total Mortgage Loan Application Amount | $77,984,000 |
| Average Mortgage Loan Application Amount | $158,182 |
| Highest Mortgage Loan Application Amount | $950,000 |
| Average Applicant Income | $80,880 |
| Highest Applicant Income | $1,056,000 |
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Act (HMDA) records Second Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 99 | $ 15,033,000 | $ 151,848 | $ 78,000 |
| Orange, Virginia | 74 | $ 11,440,000 | $ 154,594 | $ 62,000 |
| Rockingham, Virginia | 67 | $ 10,347,000 | $ 154,432 | $ 65,000 |
| Madison, Virginia | 64 | $ 7,563,000 | $ 118,171 | $ 68,000 |
| Shenandoah, Virginia | 39 | $ 5,231,000 | $ 134,128 | $ 42,000 |
| Harrisonburg, Virginia | 31 | $ 3,548,000 | $ 114,451 | $ 81,000 |
| Albemarle, Virginia | 24 | $ 6,073,000 | $ 253,041 | $ 105,000 |
| Spotsylvania, Virginia | 13 | $ 3,311,000 | $ 254,692 | $ 115,000 |
| Augusta, Virginia | 9 | $ 1,912,000 | $ 212,444 | $ 77,000 |
| Louisa, Virginia | 8 | $ 1,762,000 | $ 220,250 | $ 45,000 |
| Greene, Virginia | 5 | $ 574,000 | $ 114,800 | $ 51,000 |
| Prince William, Virginia | 5 | $ 1,834,000 | $ 366,800 | $ 201,000 |
| Staunton, Virginia | 5 | $ 396,000 | $ 79,200 | $ 38,000 |
| Caroline, Virginia | 4 | $ 582,000 | $ 145,500 | $ 70,000 |
| Page, Virginia | 4 | $ 569,000 | $ 142,250 | $ 148,000 |
| Rappahannock, Virginia | 4 | $ 838,000 | $ 209,500 | $ 85,000 |
| Charlottesville, Virginia | 3 | $ 633,000 | $ 211,000 | $ 86,000 |
| Fauquier, Virginia | 3 | $ 826,000 | $ 275,333 | $ 438,000 |
| Fluvanna, Virginia | 3 | $ 465,000 | $ 155,000 | $ 86,000 |
| Dare, North Carolina | 2 | $ 473,000 | $ 236,500 | $ 25,000 |
| Alexandria, Virginia | 2 | $ 280,000 | $ 140,000 | $ 132,000 |
| Covington, Virginia | 2 | $ 78,000 | $ 39,000 | $ 39,000 |
| Frederick, Virginia | 2 | $ 346,000 | $ 173,000 | $ 105,000 |
| Alachua, Florida | 1 | $ 166,000 | $ 166,000 | $ 33,000 |
| Putnam, New York | 1 | $ 304,000 | $ 304,000 | $ 110,000 |
| Horry, South Carolina | 1 | $ 150,000 | $ 150,000 | $ 73,000 |
| Williamson, Tennessee | 1 | $ 164,000 | $ 164,000 | $ 65,000 |
| Alleghany, Virginia | 1 | $ 200,000 | $ 200,000 | $ 49,000 |
| Amherst, Virginia | 1 | $ 205,000 | $ 205,000 | $ 100,000 |
| Bedford, Virginia | 1 | $ 289,000 | $ 289,000 | $ 118,000 |
| Franklin, Virginia | 1 | $ 360,000 | $ 360,000 | $ 0 |
| Halifax, Virginia | 1 | $ 94,000 | $ 94,000 | $ 48,000 |
| Hanover, Virginia | 1 | $ 242,000 | $ 242,000 | $ 86,000 |
| Henrico, Virginia | 1 | $ 192,000 | $ 192,000 | $ 74,000 |
| Loudoun, Virginia | 1 | $ 204,000 | $ 204,000 | $ 54,000 |
| Montgomery, Virginia | 1 | $ 320,000 | $ 320,000 | $ 164,000 |
| Nelson, Virginia | 1 | $ 215,000 | $ 215,000 | $ 76,000 |
| Norfolk, Virginia | 1 | $ 195,000 | $ 195,000 | $ 53,000 |
| Stafford, Virginia | 1 | $ 60,000 | $ 60,000 | $ 40,000 |
| Warren, Virginia | 1 | $ 92,000 | $ 92,000 | $ 66,000 |
| Washington, Virginia | 1 | $ 130,000 | $ 130,000 | $ 39,000 |
| Waynesboro, Virginia | 1 | $ 104,000 | $ 104,000 | $ 57,000 |
| Westmoreland, Virginia | 1 | $ 104,000 | $ 104,000 | $ 76,000 |
| Hardy, West Virginia | 1 | $ 80,000 | $ 80,000 | $ 70,000 |
Mortgage Loan Application Detail Totals for Second Bank & Trust 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 | 223 | $35,951,000 | $160,500 | $700,000 | $50,250 | $405,000 |
| Home Purchase | 203 | $36,839,000 | $199,750 | $950,000 | $86,500 | $1,056,000 |
| Home Improvement | 67 | $5,194,000 | $77,000 | $325,000 | $58,000 | $132,000 |
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 | 342 | $52,169,000 | $158,000 | $800,000 | $58,166 | $1,056,000 |
| Not Provided | 115 | $20,697,000 | $241,000 | $544,000 | $104,000 | $543,000 |
| Black or African American | 24 | $2,502,000 | $104,000 | $312,000 | $61,000 | $196,000 |
| Hispanic | 4 | $331,000 | $82,000 | $155,000 | $62,000 | $85,000 |
| Not applicable | 4 | $1,643,000 | $410,000 | $950,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $314,000 | $157,000 | $195,000 | $89,000 | $130,000 |
| Asian | 2 | $328,000 | $164,000 | $200,000 | $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) | 475 | $75,353,000 | $179,714 | $950,000 | $65,857 | $1,056,000 |
| FHA-insured (Federal Housing Administration) | 14 | $1,668,000 | $119,000 | $175,000 | $49,000 | $73,000 |
| VA-guaranteed (Veterans Administration) | 4 | $963,000 | $240,000 | $360,000 | $73,000 | $127,000 |
| 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 | 412 | $67,546,000 | $183,166 | $800,000 | $66,500 | $1,056,000 |
| Application Withdrawn By Applicant | 38 | $5,686,000 | $149,000 | $560,000 | $87,000 | $223,000 |
| Application Approved But Not Accepted | 23 | $2,483,000 | $134,500 | $289,000 | $64,500 | $173,000 |
| Application Denied By Financial Institution | 20 | $2,269,000 | $113,000 | $950,000 | $45,000 | $141,000 |
| 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 | 9 | $894,000 | $99,000 | $355,000 | $52,000 | $141,000 |
| Debt-To-Income Ratio | 8 | $1,216,000 | $152,000 | $950,000 | $43,000 | $85,000 |
| Other | 2 | $99,000 | $49,000 | $97,000 | $29,000 | $33,000 |
| Unverifiable Information | 1 | $60,000 | $60,000 | $60,000 | $40,000 | $40,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Second Bank & Trust'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 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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