Tidewater Mortgage Services Mortgage Lending & HMDA Data, 2007
In 2007, Tidewater Mortgage Services of Virginia Beach, VA reported 151 mortgage applications totaling $31.7 million, down 69% from 2006. The average application was for $210,245, and applicants reported an average income of $102,880. 42% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (53), Wilmington, NC (45) and Washington-Arlington-Alexandria, DC-VA-MD-WV (5) (applications in parentheses).
| Mortgage Company & Address | Tidewater Mortgage Services 200 Golden Oak Ct Suite 100 Virginia Beach, VA 23452 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 151 |
| Total Mortgage Loan Application Amount | $31,747,000 |
| Average Mortgage Loan Application Amount | $210,245 |
| Highest Mortgage Loan Application Amount | $1,000,000 |
| Average Applicant Income | $102,880 |
| Highest Applicant Income | $788,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Tidewater Mortgage Services filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Virginia Beach-Norfolk-Newport News, VA-NC | 53 | $ 9,777,000 | $ 184,471 | $ 79,000 |
| Wilmington, NC | 45 | $ 8,112,000 | $ 180,266 | $ 73,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 5 | $ 3,077,000 | $ 615,400 | $ 202,000 |
| Bethesda-Gaithersburg-Frederick, MD | 2 | $ 451,000 | $ 225,500 | $ 456,000 |
| Greenville, NC | 1 | $ 111,000 | $ 111,000 | $ 65,000 |
Mortgage Loan Application Detail Totals for Tidewater Mortgage Services 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 118 | $26,668,000 | $226,000 | $1,000,000 | $109,000 | $788,000 |
| Refinancing | 33 | $5,079,000 | $153,000 | $357,000 | $81,000 | $131,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $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 | 66 | $16,099,000 | $243,000 | $1,000,000 | $115,000 | $788,000 |
| Black or African American | 44 | $6,252,000 | $142,000 | $316,000 | $73,000 | $115,000 |
| Not Provided | 29 | $7,210,000 | $248,000 | $618,000 | $132,000 | $788,000 |
| Asian | 6 | $1,135,000 | $189,000 | $275,000 | $89,000 | $115,000 |
| Hispanic | 6 | $1,051,000 | $175,000 | $310,000 | $64,000 | $116,000 |
| 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 |
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) | 143 | $30,266,000 | $211,000 | $1,000,000 | $105,000 | $788,000 |
| VA-guaranteed (Veterans Administration) | 5 | $991,000 | $198,000 | $285,000 | $65,000 | $85,000 |
| FHA-insured (Federal Housing Administration) | 3 | $490,000 | $163,000 | $252,000 | $61,000 | $76,000 |
| 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 |
|---|---|---|---|---|---|---|
| Application Withdrawn By Applicant | 70 | $14,425,000 | $206,000 | $886,000 | $97,000 | $450,000 |
| Loan Originated | 63 | $13,978,000 | $221,000 | $1,000,000 | $115,000 | $788,000 |
| Application Denied By Financial Institution | 17 | $3,309,000 | $194,000 | $584,000 | $80,000 | $150,000 |
| Application Approved But Not Accepted | 1 | $35,000 | $35,000 | $35,000 | $131,000 | $131,000 |
| 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 | 6 | $1,651,000 | $275,000 | $584,000 | $90,000 | $150,000 |
| Other | 4 | $565,000 | $141,000 | $257,000 | $68,000 | $90,000 |
| Collateral | 3 | $678,000 | $226,000 | $357,000 | $93,000 | $110,000 |
| Employment History | 2 | $169,000 | $84,000 | $135,000 | $71,000 | $71,000 |
| Unverifiable Information | 1 | $120,000 | $120,000 | $120,000 | $90,000 | $90,000 |
| Debt-To-Income Ratio | 1 | $126,000 | $126,000 | $126,000 | $35,000 | $35,000 |
| Credit Application Incomplete | 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 Tidewater Mortgage Services'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 Tidewater Mortgage Services'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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