Union Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Union Bank & Trust of Richmond, VA reported 284 mortgage applications totaling $21.7 million, up 7% from 2005. The average application was for $76,500, and applicants reported an average income of $54,616. 78% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Richmond, VA (141), Washington-Arlington-Alexandria, DC-VA-MD-WV (66) and Charlottesville, VA (21) (applications in parentheses).
| Mortgage Company & Address | Union Bank & Trust 1051 East Cary Street, Suite 1200 Richmond, VA 23219 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 284 |
| Total Mortgage Loan Application Amount | $21,726,000 |
| Average Mortgage Loan Application Amount | $76,500 |
| Highest Mortgage Loan Application Amount | $3,230,000 |
| Average Applicant Income | $54,616 |
| Highest Applicant Income | $367,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Caroline, Virginia | 91 | $ 3,017,000 | $ 33,153 | $ 59,000 |
| Spotsylvania, Virginia | 49 | $ 2,184,000 | $ 44,571 | $ 58,000 |
| King George, Virginia | 25 | $ 1,936,000 | $ 77,440 | $ 53,000 |
| Hanover, Virginia | 18 | $ 2,469,000 | $ 137,166 | $ 71,000 |
| Westmoreland, Virginia | 17 | $ 1,296,000 | $ 76,235 | $ 48,000 |
| Henrico, Virginia | 8 | $ 1,092,000 | $ 136,500 | $ 42,000 |
| Albemarle, Virginia | 6 | $ 3,485,000 | $ 580,833 | $ 57,000 |
| Chesterfield, Virginia | 6 | $ 147,000 | $ 24,500 | $ 23,000 |
| Fluvanna, Virginia | 5 | $ 168,000 | $ 33,600 | $ 62,000 |
| Fredericksburg, Virginia | 5 | $ 199,000 | $ 39,800 | $ 37,000 |
| Louisa, Virginia | 5 | $ 310,000 | $ 62,000 | $ 63,000 |
| Nelson, Virginia | 5 | $ 227,000 | $ 45,400 | $ 44,000 |
| Stafford, Virginia | 5 | $ 320,000 | $ 64,000 | $ 65,000 |
| King William, Virginia | 4 | $ 155,000 | $ 38,750 | $ 59,000 |
| Prince William, Virginia | 4 | $ 538,000 | $ 134,500 | $ 82,000 |
| Charlottesville, Virginia | 3 | $ 1,154,000 | $ 384,666 | $ 13,000 |
| Powhatan, Virginia | 3 | $ 222,000 | $ 74,000 | $ 72,000 |
| Anne Arundel, Maryland | 2 | $ 70,000 | $ 35,000 | $ 0 |
| Montgomery, Maryland | 2 | $ 183,000 | $ 91,500 | $ 0 |
| Fairfax, Virginia | 2 | $ 79,000 | $ 39,500 | $ 40,000 |
| Greene, Virginia | 2 | $ 20,000 | $ 10,000 | $ 56,000 |
| King and Queen, Virginia | 2 | $ 25,000 | $ 12,500 | $ 73,000 |
| Orange, Virginia | 2 | $ 45,000 | $ 22,500 | $ 45,000 |
| Richmond City, Virginia | 2 | $ 398,000 | $ 199,000 | $ 128,000 |
| Waynesboro, Virginia | 2 | $ 617,000 | $ 308,500 | $ 0 |
| Northampton, North Carolina | 1 | $ 575,000 | $ 575,000 | $ 0 |
| Amelia, Virginia | 1 | $ 122,000 | $ 122,000 | $ 66,000 |
| Amherst, Virginia | 1 | $ 2,000 | $ 2,000 | $ 35,000 |
| Arlington, Virginia | 1 | $ 96,000 | $ 96,000 | $ 0 |
| Campbell, Virginia | 1 | $ 400,000 | $ 400,000 | $ 0 |
| Dinwiddie, Virginia | 1 | $ 128,000 | $ 128,000 | $ 0 |
| Essex, Virginia | 1 | $ 30,000 | $ 30,000 | $ 54,000 |
| Middlesex, Virginia | 1 | $ 7,000 | $ 7,000 | $ 54,000 |
| Northumberland, Virginia | 1 | $ 10,000 | $ 10,000 | $ 11,000 |
Mortgage Loan Application Detail Totals for Union 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 |
|---|---|---|---|---|---|---|
| Home Improvement | 182 | $4,498,000 | $24,000 | $300,000 | $56,000 | $250,000 |
| Refinancing | 75 | $10,987,000 | $146,000 | $3,230,000 | $54,000 | $367,000 |
| Home Purchase | 27 | $6,241,000 | $231,000 | $900,000 | $47,000 | $336,000 |
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 | 185 | $9,953,000 | $53,000 | $975,000 | $66,000 | $367,000 |
| Black or African American | 60 | $2,007,000 | $33,000 | $215,000 | $44,000 | $153,000 |
| Not applicable | 31 | $9,145,000 | $295,000 | $3,230,000 | $0 | $0 |
| Asian | 3 | $289,000 | $96,000 | $204,000 | $111,000 | $171,000 |
| Hispanic | 2 | $269,000 | $134,000 | $254,000 | $46,000 | $64,000 |
| Not Provided | 2 | $8,000 | $4,000 | $4,000 | $86,000 | $102,000 |
| American Indian or Alaskan Native | 1 | $55,000 | $55,000 | $55,000 | $63,000 | $63,000 |
| 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) | 284 | $21,726,000 | $76,000 | $3,230,000 | $55,000 | $367,000 |
| 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 | 222 | $19,249,000 | $86,000 | $3,230,000 | $57,000 | $367,000 |
| Application Denied By Financial Institution | 42 | $1,247,000 | $29,000 | $254,000 | $52,000 | $121,000 |
| Application Withdrawn By Applicant | 10 | $530,000 | $53,000 | $196,000 | $51,000 | $89,000 |
| Loan Purchased By The Institution | 9 | $689,000 | $76,000 | $137,000 | $0 | $0 |
| Application Approved But Not Accepted | 1 | $11,000 | $11,000 | $11,000 | $107,000 | $107,000 |
| File Closed For Incompleteness | 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 | 23 | $435,000 | $18,000 | $81,000 | $47,000 | $103,000 |
| Debt-To-Income Ratio | 15 | $544,000 | $36,000 | $254,000 | $48,000 | $104,000 |
| Other | 2 | $24,000 | $12,000 | $20,000 | $90,000 | $102,000 |
| Employment History | 1 | $150,000 | $150,000 | $150,000 | $105,000 | $105,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $94,000 | $94,000 | $94,000 | $121,000 | $121,000 |
| Mortgage Insurance Denied | 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 Union 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 Union 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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