Second Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Second Bank & Trust of Fredericksburg, VA reported 351 mortgage applications totaling $57.3 million, down 29% from 2005. The average application was for $163,339, and applicants reported an average income of $84,233. 85% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Charlottesville, VA (27), Washington-Arlington-Alexandria, DC-VA-MD-WV (14) and Richmond, VA (9) (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 | 351 |
| Total Mortgage Loan Application Amount | $57,332,000 |
| Average Mortgage Loan Application Amount | $163,339 |
| Highest Mortgage Loan Application Amount | $1,700,000 |
| Average Applicant Income | $84,233 |
| Highest Applicant Income | $738,000 |
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Act (HMDA) records Second Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Orange, Virginia | 98 | $ 13,489,000 | $ 137,642 | $ 76,000 |
| Culpeper, Virginia | 91 | $ 17,292,000 | $ 190,021 | $ 86,000 |
| Madison, Virginia | 79 | $ 9,847,000 | $ 124,645 | $ 69,000 |
| Albemarle, Virginia | 15 | $ 4,693,000 | $ 312,866 | $ 124,000 |
| Rappahannock, Virginia | 9 | $ 2,833,000 | $ 314,777 | $ 179,000 |
| Spotsylvania, Virginia | 7 | $ 1,367,000 | $ 195,285 | $ 105,000 |
| Greene, Virginia | 6 | $ 848,000 | $ 141,333 | $ 72,000 |
| Louisa, Virginia | 6 | $ 602,000 | $ 100,333 | $ 72,000 |
| Henrico, Virginia | 3 | $ 325,000 | $ 108,333 | $ 47,000 |
| Rockingham, Virginia | 3 | $ 378,000 | $ 126,000 | $ 90,000 |
| Shenandoah, Virginia | 3 | $ 423,000 | $ 141,000 | $ 50,000 |
| Mahoning, Ohio | 2 | $ 150,000 | $ 75,000 | $ 73,000 |
| Horry, South Carolina | 2 | $ 404,000 | $ 202,000 | $ 278,000 |
| Charlottesville, Virginia | 2 | $ 191,000 | $ 95,500 | $ 35,000 |
| Fauquier, Virginia | 2 | $ 295,000 | $ 147,500 | $ 134,000 |
| Fluvanna, Virginia | 2 | $ 470,000 | $ 235,000 | $ 57,000 |
| Fredericksburg, Virginia | 2 | $ 353,000 | $ 176,500 | $ 65,000 |
| Harrisonburg, Virginia | 2 | $ 162,000 | $ 81,000 | $ 60,000 |
| Nelson, Virginia | 2 | $ 426,000 | $ 213,000 | $ 102,000 |
| Roanoke City, Virginia | 2 | $ 320,000 | $ 160,000 | $ 57,000 |
| Stafford, Virginia | 2 | $ 385,000 | $ 192,500 | $ 107,000 |
| Worcester, Maryland | 1 | $ 179,000 | $ 179,000 | $ 186,000 |
| Adams, Pennsylvania | 1 | $ 195,000 | $ 195,000 | $ 90,000 |
| Arlington, Virginia | 1 | $ 250,000 | $ 250,000 | $ 176,000 |
| Giles, Virginia | 1 | $ 138,000 | $ 138,000 | $ 56,000 |
| James City, Virginia | 1 | $ 136,000 | $ 136,000 | $ 0 |
| Page, Virginia | 1 | $ 164,000 | $ 164,000 | $ 49,000 |
| Prince William, Virginia | 1 | $ 131,000 | $ 131,000 | $ 52,000 |
| Richmond City, Virginia | 1 | $ 385,000 | $ 385,000 | $ 552,000 |
| Rockbridge, Virginia | 1 | $ 58,000 | $ 58,000 | $ 46,000 |
| Virginia Beach, Virginia | 1 | $ 60,000 | $ 60,000 | $ 14,000 |
| Johnson, Wyoming | 1 | $ 383,000 | $ 383,000 | $ 0 |
Mortgage Loan Application Detail Totals for Second Bank & Trust 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 | 179 | $32,439,000 | $181,000 | $805,000 | $90,000 | $738,000 |
| Home Purchase | 111 | $22,009,000 | $198,000 | $1,700,000 | $91,000 | $625,000 |
| Home Improvement | 61 | $2,884,000 | $47,000 | $325,000 | $55,000 | $177,000 |
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 | 196 | $28,615,000 | $145,000 | $805,000 | $71,000 | $552,000 |
| Not Provided | 128 | $26,225,000 | $204,000 | $1,700,000 | $111,000 | $738,000 |
| Black or African American | 17 | $1,012,000 | $59,000 | $192,000 | $39,000 | $74,000 |
| Hispanic | 7 | $566,000 | $80,000 | $250,000 | $79,000 | $162,000 |
| Asian | 3 | $914,000 | $304,000 | $584,000 | $79,000 | $184,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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) | 346 | $56,295,000 | $162,000 | $1,700,000 | $84,000 | $738,000 |
| FHA-insured (Federal Housing Administration) | 3 | $594,000 | $198,000 | $290,000 | $59,000 | $68,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $250,000 | $250,000 | $250,000 | $41,000 | $41,000 |
| VA-guaranteed (Veterans Administration) | 1 | $193,000 | $193,000 | $193,000 | $66,000 | $66,000 |
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 | 298 | $47,005,000 | $157,000 | $584,000 | $83,000 | $738,000 |
| Application Withdrawn By Applicant | 22 | $5,684,000 | $258,000 | $1,700,000 | $124,000 | $524,000 |
| Application Denied By Financial Institution | 17 | $1,184,000 | $69,000 | $242,000 | $40,000 | $91,000 |
| Application Approved But Not Accepted | 10 | $2,177,000 | $217,000 | $417,000 | $100,000 | $186,000 |
| File Closed For Incompleteness | 4 | $1,282,000 | $320,000 | $805,000 | $96,000 | $206,000 |
| 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 | 12 | $893,000 | $74,000 | $242,000 | $39,000 | $65,000 |
| Debt-To-Income Ratio | 5 | $291,000 | $58,000 | $125,000 | $42,000 | $91,000 |
| 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 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Second Bank & Trust'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 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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