Union Bank & Trust Mortgage Lending & HMDA Data, 2014
In 2014, Union Bank & Trust of Richmond, VA reported 594 mortgage applications totaling $110.0 million, up 36% from 2013. The average application was for $185,126, and applicants reported an average income of $74,134. 65% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Washington-Arlington-Alexandria, DC-VA-MD-WV (129), Richmond, VA (108) and Blacksburg-Christiansburg-Radford, VA (60) (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 | 594 |
| Total Mortgage Loan Application Amount | $109,965,000 |
| Average Mortgage Loan Application Amount | $185,126 |
| Highest Mortgage Loan Application Amount | $1,870,000 |
| Average Applicant Income | $74,134 |
| Highest Applicant Income | $1,585,000 |
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Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 129 | $ 34,230,000 | $ 265,348 | $ 92,968 |
| Richmond, VA | 108 | $ 21,352,000 | $ 197,703 | $ 60,000 |
| Blacksburg-Christiansburg-Radford, VA | 60 | $ 5,042,000 | $ 84,033 | $ 31,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 50 | $ 12,281,000 | $ 245,620 | $ 149,000 |
| Roanoke, VA | 37 | $ 5,606,000 | $ 151,513 | $ 19,000 |
| Lynchburg, VA | 22 | $ 2,854,000 | $ 129,727 | $ 21,000 |
| Charlottesville, VA | 20 | $ 3,290,000 | $ 164,500 | $ 24,000 |
| Staunton-Waynesboro, VA | 20 | $ 2,787,000 | $ 139,350 | $ 113,000 |
| Winchester, VA-WV | 6 | $ 891,000 | $ 148,500 | $ 132,000 |
| Harrisonburg, VA | 4 | $ 311,000 | $ 77,750 | $ 50,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 769,000 | $ 384,500 | $ 0 |
| Baltimore-Columbia-Towson, MD | 2 | $ 217,000 | $ 108,500 | $ 0 |
| Columbia, SC | 2 | $ 343,000 | $ 171,500 | $ 0 |
| Wilmington, NC | 2 | $ 1,493,000 | $ 746,500 | $ 0 |
| Chambersburg-Waynesboro, PA | 1 | $ 84,000 | $ 84,000 | $ 110,000 |
| Gainesville, FL | 1 | $ 4,000 | $ 4,000 | $ 26,000 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 1,080,000 | $ 1,080,000 | $ 0 |
| Hagerstown-Martinsburg, MD-WV | 1 | $ 179,000 | $ 179,000 | $ 0 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 512,000 | $ 512,000 | $ 0 |
| Tulsa, OK | 1 | $ 246,000 | $ 246,000 | $ 0 |
Mortgage Loan Application Detail Totals for Union Bank & Trust in 2014
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 | 255 | $56,365,000 | $221,000 | $1,870,000 | $76,000 | $1,585,000 |
| Refinancing | 227 | $50,432,000 | $222,000 | $1,625,000 | $80,000 | $908,000 |
| Home Improvement | 112 | $3,168,000 | $28,000 | $425,000 | $58,000 | $874,000 |
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 | 323 | $42,577,000 | $131,000 | $1,360,000 | $130,000 | $1,585,000 |
| Not applicable | 232 | $64,580,000 | $278,000 | $1,870,000 | $0 | $0 |
| Black or African American | 25 | $1,021,000 | $40,000 | $107,000 | $62,000 | $352,000 |
| Asian | 5 | $823,000 | $164,000 | $400,000 | $83,000 | $121,000 |
| Hispanic | 4 | $640,000 | $160,000 | $225,000 | $63,000 | $96,000 |
| Not Provided | 4 | $252,000 | $63,000 | $204,000 | $40,000 | $59,000 |
| American Indian or Alaskan Native | 1 | $72,000 | $72,000 | $72,000 | $38,000 | $38,000 |
| 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) | 594 | $109,965,000 | $185,000 | $1,870,000 | $74,000 | $1,585,000 |
| 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 | 389 | $80,002,000 | $205,000 | $1,870,000 | $96,000 | $1,585,000 |
| Loan Purchased By The Institution | 91 | $23,183,000 | $254,000 | $1,080,000 | $0 | $0 |
| Application Denied By Financial Institution | 85 | $3,765,000 | $44,000 | $425,000 | $38,000 | $125,000 |
| Application Withdrawn By Applicant | 29 | $3,015,000 | $103,000 | $750,000 | $126,000 | $1,346,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 | 40 | $1,525,000 | $38,000 | $231,000 | $36,000 | $94,000 |
| Debt-To-Income Ratio | 33 | $1,845,000 | $55,000 | $425,000 | $37,000 | $98,000 |
| Collateral | 7 | $366,000 | $52,000 | $117,000 | $52,000 | $125,000 |
| Employment History | 5 | $29,000 | $5,000 | $10,000 | $35,000 | $54,000 |
| 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 Union Bank & Trust's 2014 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.
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with aggregated HMDA statistics today.
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