Union Bank & Trust Mortgage Lending & HMDA Data, 2007
In 2007, Union Bank & Trust of Richmond, VA reported 300 mortgage applications totaling $28.4 million, up 6% from 2006. The average application was for $94,616, and applicants reported an average income of $84,660. 84% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Richmond, VA (140), Washington-Arlington-Alexandria, DC-VA-MD-WV (76) and Charlottesville, VA (31) (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 | 300 |
| Total Mortgage Loan Application Amount | $28,385,000 |
| Average Mortgage Loan Application Amount | $94,616 |
| Highest Mortgage Loan Application Amount | $960,000 |
| Average Applicant Income | $84,660 |
| Highest Applicant Income | $1,257,000 |
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Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 88 | $ 3,978,000 | $ 45,204 | $ 69,000 |
| Spotsylvania, Virginia | 54 | $ 3,528,000 | $ 65,333 | $ 84,000 |
| King George, Virginia | 26 | $ 2,954,000 | $ 113,615 | $ 112,000 |
| Hanover, Virginia | 19 | $ 1,942,000 | $ 102,210 | $ 70,000 |
| Stafford, Virginia | 15 | $ 2,201,000 | $ 146,733 | $ 68,000 |
| Albemarle, Virginia | 14 | $ 1,186,000 | $ 84,714 | $ 49,000 |
| Henrico, Virginia | 8 | $ 803,000 | $ 100,375 | $ 92,000 |
| Westmoreland, Virginia | 8 | $ 504,000 | $ 63,000 | $ 60,000 |
| Chesterfield, Virginia | 7 | $ 465,000 | $ 66,428 | $ 93,000 |
| Fredericksburg, Virginia | 7 | $ 1,914,000 | $ 273,428 | $ 60,000 |
| Nelson, Virginia | 7 | $ 1,657,000 | $ 236,714 | $ 128,000 |
| Fluvanna, Virginia | 6 | $ 494,000 | $ 82,333 | $ 81,000 |
| Waynesboro, Virginia | 6 | $ 573,000 | $ 95,500 | $ 57,000 |
| Louisa, Virginia | 5 | $ 74,000 | $ 14,800 | $ 30,000 |
| Charlottesville, Virginia | 4 | $ 506,000 | $ 126,500 | $ 174,000 |
| King William, Virginia | 4 | $ 318,000 | $ 79,500 | $ 49,000 |
| Richmond City, Virginia | 3 | $ 271,000 | $ 90,333 | $ 31,000 |
| Augusta, Virginia | 2 | $ 386,000 | $ 193,000 | $ 125,000 |
| Orange, Virginia | 2 | $ 270,000 | $ 135,000 | $ 192,000 |
| Powhatan, Virginia | 2 | $ 44,000 | $ 22,000 | $ 34,000 |
| Monroe, Florida | 1 | $ 725,000 | $ 725,000 | $ 0 |
| Brunswick, North Carolina | 1 | $ 175,000 | $ 175,000 | $ 0 |
| Chowan, North Carolina | 1 | $ 294,000 | $ 294,000 | $ 0 |
| Horry, South Carolina | 1 | $ 149,000 | $ 149,000 | $ 523,000 |
| Amelia, Virginia | 1 | $ 6,000 | $ 6,000 | $ 30,000 |
| Colonial Heights, Virginia | 1 | $ 270,000 | $ 270,000 | $ 0 |
| Essex, Virginia | 1 | $ 480,000 | $ 480,000 | $ 139,000 |
| James City, Virginia | 1 | $ 576,000 | $ 576,000 | $ 493,000 |
| King and Queen, Virginia | 1 | $ 50,000 | $ 50,000 | $ 0 |
| Northumberland, Virginia | 1 | $ 67,000 | $ 67,000 | $ 82,000 |
| Prince George, Virginia | 1 | $ 6,000 | $ 6,000 | $ 43,000 |
| Rappahannock, Virginia | 1 | $ 860,000 | $ 860,000 | $ 580,000 |
| Virginia Beach, Virginia | 1 | $ 659,000 | $ 659,000 | $ 1,200,000 |
Mortgage Loan Application Detail Totals for Union Bank & Trust 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 Improvement | 157 | $4,829,000 | $30,000 | $671,000 | $62,000 | $783,000 |
| Refinancing | 97 | $13,175,000 | $135,000 | $960,000 | $106,000 | $1,257,000 |
| Home Purchase | 46 | $10,381,000 | $225,000 | $928,000 | $117,000 | $1,200,000 |
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 | 206 | $17,723,000 | $86,000 | $960,000 | $111,000 | $1,257,000 |
| Black or African American | 46 | $906,000 | $19,000 | $70,000 | $40,000 | $128,000 |
| Not applicable | 38 | $9,482,000 | $249,000 | $928,000 | $0 | $0 |
| Not Provided | 6 | $180,000 | $30,000 | $100,000 | $77,000 | $252,000 |
| Hispanic | 3 | $78,000 | $26,000 | $41,000 | $76,000 | $177,000 |
| Asian | 1 | $16,000 | $16,000 | $16,000 | $65,000 | $65,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $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) | 300 | $28,385,000 | $94,000 | $960,000 | $85,000 | $1,257,000 |
| 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 | 252 | $26,967,000 | $107,000 | $960,000 | $91,000 | $1,257,000 |
| Application Denied By Financial Institution | 35 | $561,000 | $16,000 | $55,000 | $42,000 | $150,000 |
| Application Withdrawn By Applicant | 8 | $424,000 | $53,000 | $161,000 | $89,000 | $205,000 |
| Application Approved But Not Accepted | 3 | $136,000 | $45,000 | $100,000 | $110,000 | $252,000 |
| Loan Purchased By The Institution | 2 | $297,000 | $148,000 | $250,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 19 | $346,000 | $18,000 | $55,000 | $42,000 | $150,000 |
| Debt-To-Income Ratio | 15 | $184,000 | $12,000 | $46,000 | $43,000 | $77,000 |
| Collateral | 1 | $31,000 | $31,000 | $31,000 | $22,000 | $22,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Union Bank & Trust'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 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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