Summit Mortgage Mortgage Lending & HMDA Data, 2007
In 2007, Summit Mortgage of Winchester, VA reported 133 mortgage applications totaling $16.3 million. The average application was for $122,834, and applicants reported an average income of $70,834. 28% of its applications resulted in an originated loan and 26% were denied. Its largest markets were Charleston, WV (18), Chicago-Naperville-Joliet, IL (7) and Huntington-Ashland, WV-KY-OH (5) (applications in parentheses).
| Mortgage Company & Address | Summit Mortgage 100 West Jubal Early Drive Winchester, VA 22601 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 |
| Total Number of Mortgage Applications | 133 |
| Total Mortgage Loan Application Amount | $16,337,000 |
| Average Mortgage Loan Application Amount | $122,834 |
| Highest Mortgage Loan Application Amount | $390,000 |
| Average Applicant Income | $70,834 |
| Highest Applicant Income | $452,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Summit Mortgage filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Kanawha, West Virginia | 17 | $ 2,667,000 | $ 156,882 | $ 81,000 |
| Greenbrier, West Virginia | 7 | $ 559,000 | $ 79,857 | $ 29,000 |
| Jefferson, Alabama | 3 | $ 332,000 | $ 110,666 | $ 37,000 |
| Cook, Illinois | 3 | $ 383,000 | $ 127,666 | $ 65,000 |
| Will, Illinois | 3 | $ 258,000 | $ 86,000 | $ 63,000 |
| Salt Lake, Utah | 3 | $ 433,000 | $ 144,333 | $ 108,000 |
| Cabell, West Virginia | 3 | $ 446,000 | $ 148,666 | $ 70,000 |
| Hampshire, West Virginia | 3 | $ 600,000 | $ 200,000 | $ 69,000 |
| Hillsborough, Florida | 2 | $ 102,000 | $ 51,000 | $ 52,000 |
| Ada, Idaho | 2 | $ 100,000 | $ 50,000 | $ 48,000 |
| Boyd, Kentucky | 2 | $ 280,000 | $ 140,000 | $ 18,000 |
| Prince George's, Maryland | 2 | $ 299,000 | $ 149,500 | $ 63,000 |
| Summit, Ohio | 2 | $ 214,000 | $ 107,000 | $ 56,000 |
| Chester, Pennsylvania | 2 | $ 120,000 | $ 60,000 | $ 68,000 |
| Spokane, Washington | 2 | $ 430,000 | $ 215,000 | $ 45,000 |
| Hardy, West Virginia | 2 | $ 290,000 | $ 145,000 | $ 49,000 |
| Anchorage, Alaska | 1 | $ 30,000 | $ 30,000 | $ 75,000 |
| Pima, Arizona | 1 | $ 94,000 | $ 94,000 | $ 102,000 |
| Fairfield, Connecticut | 1 | $ 246,000 | $ 246,000 | $ 60,000 |
| Hernando, Florida | 1 | $ 175,000 | $ 175,000 | $ 40,000 |
| Manatee, Florida | 1 | $ 33,000 | $ 33,000 | $ 72,000 |
| Marion, Florida | 1 | $ 88,000 | $ 88,000 | $ 75,000 |
| Miami-Dade, Florida | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Okaloosa, Florida | 1 | $ 58,000 | $ 58,000 | $ 21,000 |
| Orange, Florida | 1 | $ 40,000 | $ 40,000 | $ 48,000 |
| Pinellas, Florida | 1 | $ 185,000 | $ 185,000 | $ 36,000 |
| St. Lucie, Florida | 1 | $ 55,000 | $ 55,000 | $ 73,000 |
| Volusia, Florida | 1 | $ 260,000 | $ 260,000 | $ 80,000 |
| Columbia, Georgia | 1 | $ 83,000 | $ 83,000 | $ 123,000 |
| Gordon, Georgia | 1 | $ 177,000 | $ 177,000 | $ 60,000 |
| Grundy, Illinois | 1 | $ 60,000 | $ 60,000 | $ 69,000 |
| Lake, Illinois | 1 | $ 29,000 | $ 29,000 | $ 55,000 |
| St. Clair, Illinois | 1 | $ 311,000 | $ 311,000 | $ 72,000 |
| Dearborn, Indiana | 1 | $ 200,000 | $ 200,000 | $ 95,000 |
| Marion, Indiana | 1 | $ 30,000 | $ 30,000 | $ 43,000 |
| Pottawattamie, Iowa | 1 | $ 99,000 | $ 99,000 | $ 63,000 |
| Finney, Kansas | 1 | $ 20,000 | $ 20,000 | $ 28,000 |
| Leavenworth, Kansas | 1 | $ 45,000 | $ 45,000 | $ 96,000 |
| Sedgwick, Kansas | 1 | $ 125,000 | $ 125,000 | $ 134,000 |
| Anne Arundel, Maryland | 1 | $ 77,000 | $ 77,000 | $ 95,000 |
| Caroline, Maryland | 1 | $ 138,000 | $ 138,000 | $ 100,000 |
| Garrett, Maryland | 1 | $ 325,000 | $ 325,000 | $ 139,000 |
| Genesee, Michigan | 1 | $ 70,000 | $ 70,000 | $ 63,000 |
| Kent, Michigan | 1 | $ 49,000 | $ 49,000 | $ 74,000 |
| Ottawa, Michigan | 1 | $ 59,000 | $ 59,000 | $ 91,000 |
| Wayne, Michigan | 1 | $ 78,000 | $ 78,000 | $ 56,000 |
| Wright, Minnesota | 1 | $ 38,000 | $ 38,000 | $ 59,000 |
| Itawamba, Mississippi | 1 | $ 25,000 | $ 25,000 | $ 50,000 |
| Sarpy, Nebraska | 1 | $ 50,000 | $ 50,000 | $ 83,000 |
| Clark, Nevada | 1 | $ 385,000 | $ 385,000 | $ 100,000 |
| Lyon, Nevada | 1 | $ 49,000 | $ 49,000 | $ 67,000 |
| Nye, Nevada | 1 | $ 96,000 | $ 96,000 | $ 84,000 |
| Cabarrus, North Carolina | 1 | $ 47,000 | $ 47,000 | $ 62,000 |
| Gaston, North Carolina | 1 | $ 130,000 | $ 130,000 | $ 75,000 |
| Johnston, North Carolina | 1 | $ 72,000 | $ 72,000 | $ 84,000 |
| Mecklenburg, North Carolina | 1 | $ 71,000 | $ 71,000 | $ 72,000 |
| Robeson, North Carolina | 1 | $ 116,000 | $ 116,000 | $ 38,000 |
| Clark, Ohio | 1 | $ 79,000 | $ 79,000 | $ 81,000 |
| Franklin, Ohio | 1 | $ 51,000 | $ 51,000 | $ 40,000 |
| Jefferson, Ohio | 1 | $ 37,000 | $ 37,000 | $ 50,000 |
| Muskingum, Ohio | 1 | $ 75,000 | $ 75,000 | $ 98,000 |
| Sandusky, Ohio | 1 | $ 30,000 | $ 30,000 | $ 28,000 |
| Shelby, Ohio | 1 | $ 71,000 | $ 71,000 | $ 40,000 |
| Canadian, Oklahoma | 1 | $ 27,000 | $ 27,000 | $ 30,000 |
| Creek, Oklahoma | 1 | $ 42,000 | $ 42,000 | $ 60,000 |
| Muskogee, Oklahoma | 1 | $ 23,000 | $ 23,000 | $ 54,000 |
| Pike, Pennsylvania | 1 | $ 42,000 | $ 42,000 | $ 95,000 |
| Highland, Virginia | 1 | $ 390,000 | $ 390,000 | $ 127,000 |
| Loudoun, Virginia | 1 | $ 355,000 | $ 355,000 | $ 192,000 |
| Norfolk, Virginia | 1 | $ 171,000 | $ 171,000 | $ 35,000 |
| Spotsylvania, Virginia | 1 | $ 312,000 | $ 312,000 | $ 142,000 |
| Virginia Beach, Virginia | 1 | $ 245,000 | $ 245,000 | $ 452,000 |
| Kittitas, Washington | 1 | $ 50,000 | $ 50,000 | $ 58,000 |
| Fayette, West Virginia | 1 | $ 178,000 | $ 178,000 | $ 226,000 |
| Putnam, West Virginia | 1 | $ 360,000 | $ 360,000 | $ 0 |
| Waupaca, Wisconsin | 1 | $ 46,000 | $ 46,000 | $ 36,000 |
Mortgage Loan Application Detail Totals for Summit Mortgage 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 | 95 | $10,692,000 | $112,000 | $385,000 | $69,000 | $452,000 |
| Home Purchase | 36 | $5,570,000 | $154,000 | $390,000 | $75,000 | $312,000 |
| Home Improvement | 2 | $75,000 | $37,000 | $42,000 | $83,000 | $95,000 |
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 |
|---|---|---|---|---|---|---|
| Not Provided | 81 | $9,605,000 | $118,000 | $385,000 | $73,000 | $452,000 |
| White | 50 | $6,563,000 | $131,000 | $390,000 | $69,000 | $312,000 |
| Black or African American | 1 | $64,000 | $64,000 | $64,000 | $61,000 | $61,000 |
| Hispanic | 1 | $105,000 | $105,000 | $105,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 133 | $16,337,000 | $122,000 | $390,000 | $71,000 | $452,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 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 | 37 | $3,466,000 | $93,000 | $312,000 | $71,000 | $150,000 |
| Application Denied By Financial Institution | 35 | $5,108,000 | $145,000 | $390,000 | $53,000 | $240,000 |
| Application Withdrawn By Applicant | 27 | $4,137,000 | $153,000 | $355,000 | $100,000 | $452,000 |
| File Closed For Incompleteness | 24 | $2,656,000 | $110,000 | $385,000 | $64,000 | $100,000 |
| Application Approved But Not Accepted | 9 | $803,000 | $89,000 | $171,000 | $72,000 | $116,000 |
| Loan Purchased By The Institution | 1 | $167,000 | $167,000 | $167,000 | $62,000 | $62,000 |
| 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 | 20 | $2,746,000 | $137,000 | $390,000 | $46,000 | $144,000 |
| Debt-To-Income Ratio | 11 | $1,848,000 | $168,000 | $360,000 | $46,000 | $226,000 |
| Collateral | 3 | $425,000 | $141,000 | $244,000 | $101,000 | $240,000 |
| Employment History | 1 | $89,000 | $89,000 | $89,000 | $120,000 | $120,000 |
| 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 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Summit Mortgage'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 Summit Mortgage'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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