Union Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Union Bank & Trust of Richmond, VA reported 211 mortgage applications totaling $39.3 million, down 30% from 2007. The average application was for $186,075, and applicants reported an average income of $94,274. 80% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (70), Richmond, VA (68) and Charlottesville, VA (23) (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 | 211 |
| Total Mortgage Loan Application Amount | $39,262,000 |
| Average Mortgage Loan Application Amount | $186,075 |
| Highest Mortgage Loan Application Amount | $2,738,000 |
| Average Applicant Income | $94,274 |
| Highest Applicant Income | $2,598,000 |
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Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 44 | $ 3,504,000 | $ 79,636 | $ 77,000 |
| Spotsylvania, Virginia | 42 | $ 4,272,000 | $ 101,714 | $ 87,000 |
| King George, Virginia | 25 | $ 2,894,000 | $ 115,760 | $ 85,000 |
| Fredericksburg, Virginia | 15 | $ 3,299,000 | $ 219,933 | $ 220,000 |
| Albemarle, Virginia | 9 | $ 5,839,000 | $ 648,777 | $ 70,000 |
| Hanover, Virginia | 8 | $ 2,590,000 | $ 323,750 | $ 40,000 |
| Henrico, Virginia | 8 | $ 2,250,000 | $ 281,250 | $ 15,000 |
| Stafford, Virginia | 8 | $ 927,000 | $ 115,875 | $ 64,000 |
| Charlottesville, Virginia | 6 | $ 1,690,000 | $ 281,666 | $ 13,000 |
| Westmoreland, Virginia | 6 | $ 520,000 | $ 86,666 | $ 50,000 |
| Essex, Virginia | 5 | $ 955,000 | $ 191,000 | $ 28,000 |
| Fluvanna, Virginia | 4 | $ 231,000 | $ 57,750 | $ 41,000 |
| Nelson, Virginia | 3 | $ 190,000 | $ 63,333 | $ 43,000 |
| Richmond City, Virginia | 3 | $ 213,000 | $ 71,000 | $ 88,000 |
| Waynesboro, Virginia | 3 | $ 681,000 | $ 227,000 | $ 0 |
| District of Columbia, District Of Columbia | 2 | $ 1,400,000 | $ 700,000 | $ 105,000 |
| Norfolk, Virginia | 2 | $ 1,857,000 | $ 928,500 | $ 14,000 |
| Duval, Florida | 1 | $ 2,000 | $ 2,000 | $ 32,000 |
| Montgomery, Maryland | 1 | $ 471,000 | $ 471,000 | $ 0 |
| Dare, North Carolina | 1 | $ 200,000 | $ 200,000 | $ 193,000 |
| Alexandria, Virginia | 1 | $ 1,775,000 | $ 1,775,000 | $ 2,598,000 |
| Arlington, Virginia | 1 | $ 1,265,000 | $ 1,265,000 | $ 432,000 |
| Buckingham, Virginia | 1 | $ 254,000 | $ 254,000 | $ 0 |
| Chesterfield, Virginia | 1 | $ 152,000 | $ 152,000 | $ 145,000 |
| Fairfax, Virginia | 1 | $ 520,000 | $ 520,000 | $ 0 |
| Gloucester, Virginia | 1 | $ 14,000 | $ 14,000 | $ 109,000 |
| Greene, Virginia | 1 | $ 61,000 | $ 61,000 | $ 77,000 |
| Highland, Virginia | 1 | $ 235,000 | $ 235,000 | $ 0 |
| King and Queen, Virginia | 1 | $ 158,000 | $ 158,000 | $ 736,000 |
| King William, Virginia | 1 | $ 349,000 | $ 349,000 | $ 110,000 |
| Montgomery, Virginia | 1 | $ 140,000 | $ 140,000 | $ 0 |
| New Kent, Virginia | 1 | $ 70,000 | $ 70,000 | $ 21,000 |
| Nottoway, Virginia | 1 | $ 10,000 | $ 10,000 | $ 33,000 |
| Orange, Virginia | 1 | $ 146,000 | $ 146,000 | $ 0 |
| Prince George, Virginia | 1 | $ 128,000 | $ 128,000 | $ 0 |
Mortgage Loan Application Detail Totals for Union Bank & Trust in 2008
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 | 95 | $3,968,000 | $41,000 | $275,000 | $68,000 | $582,000 |
| Refinancing | 81 | $22,570,000 | $278,000 | $1,775,000 | $152,000 | $2,598,000 |
| Home Purchase | 35 | $12,724,000 | $363,000 | $2,738,000 | $32,000 | $475,000 |
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 | 119 | $13,107,000 | $110,000 | $1,775,000 | $145,000 | $2,598,000 |
| Not applicable | 53 | $23,728,000 | $447,000 | $2,738,000 | $0 | $0 |
| Black or African American | 34 | $1,093,000 | $32,000 | $230,000 | $66,000 | $736,000 |
| Not Provided | 5 | $1,334,000 | $266,000 | $1,125,000 | $74,000 | $174,000 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 211 | $39,262,000 | $186,000 | $2,738,000 | $94,000 | $2,598,000 |
| 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 | 169 | $33,795,000 | $199,000 | $2,738,000 | $107,000 | $2,598,000 |
| Application Denied By Financial Institution | 23 | $2,219,000 | $96,000 | $1,125,000 | $40,000 | $145,000 |
| Application Withdrawn By Applicant | 10 | $444,000 | $44,000 | $150,000 | $81,000 | $193,000 |
| Loan Purchased By The Institution | 8 | $2,794,000 | $349,000 | $685,000 | $0 | $0 |
| Application Approved But Not Accepted | 1 | $10,000 | $10,000 | $10,000 | $33,000 | $33,000 |
| 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 | 14 | $1,687,000 | $120,000 | $1,125,000 | $41,000 | $113,000 |
| Debt-To-Income Ratio | 6 | $358,000 | $59,000 | $200,000 | $21,000 | $37,000 |
| Other | 2 | $164,000 | $82,000 | $152,000 | $103,000 | $145,000 |
| Employment History | 1 | $10,000 | $10,000 | $10,000 | $20,000 | $20,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2008 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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