Union Bank & Trust Mortgage Lending & HMDA Data, 2016
In 2016, Union Bank & Trust of Richmond, VA reported 1,120 mortgage applications totaling $235.8 million, up 9% from 2015. The average application was for $210,548, and applicants reported an average income of $51,974. 62% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Richmond, VA (285), Washington-Arlington-Alexandria, DC-VA-MD-WV (178) and Virginia Beach-Norfolk-Newport News, VA-NC (139) (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 | 1,120 |
| Total Mortgage Loan Application Amount | $235,814,000 |
| Average Mortgage Loan Application Amount | $210,548 |
| Highest Mortgage Loan Application Amount | $14,000,000 |
| Average Applicant Income | $51,974 |
| Highest Applicant Income | $3,298,000 |
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Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Richmond, VA | 285 | $ 75,232,000 | $ 263,971 | $ 43,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 178 | $ 42,759,000 | $ 240,219 | $ 99,910 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 139 | $ 43,589,000 | $ 313,589 | $ 26,000 |
| Blacksburg-Christiansburg-Radford, VA | 104 | $ 9,162,000 | $ 88,096 | $ 33,000 |
| Roanoke, VA | 89 | $ 14,889,000 | $ 167,292 | $ 22,000 |
| Staunton-Waynesboro, VA | 55 | $ 5,158,000 | $ 93,781 | $ 30,000 |
| Lynchburg, VA | 47 | $ 4,445,000 | $ 94,574 | $ 76,000 |
| Charlottesville, VA | 39 | $ 8,242,000 | $ 211,333 | $ 130,000 |
| Harrisonburg, VA | 20 | $ 4,974,000 | $ 248,700 | $ 35,000 |
| Winchester, VA-WV | 7 | $ 1,340,000 | $ 191,428 | $ 51,000 |
| Baltimore-Columbia-Towson, MD | 4 | $ 440,000 | $ 110,000 | $ 0 |
| Silver Spring-Frederick-Rockville, MD | 3 | $ 1,034,000 | $ 344,666 | $ 0 |
| Columbia, SC | 2 | $ 448,000 | $ 224,000 | $ 0 |
| Charleston, WV | 1 | $ 4,000 | $ 4,000 | $ 38,000 |
| Charleston-North Charleston, SC | 1 | $ 356,000 | $ 356,000 | $ 0 |
| Deltona-Daytona Beach-Ormond Beach, FL | 1 | $ 344,000 | $ 344,000 | $ 0 |
| Greenville-Anderson-Mauldin, SC | 1 | $ 238,000 | $ 238,000 | $ 0 |
| Jacksonville, NC | 1 | $ 194,000 | $ 194,000 | $ 0 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 177,000 | $ 177,000 | $ 0 |
| New York-Jersey City-White Plains, NY-NJ | 1 | $ 413,000 | $ 413,000 | $ 25,000 |
Mortgage Loan Application Detail Totals for Union Bank & Trust in 2016
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 | 499 | $134,147,000 | $268,000 | $14,000,000 | $37,000 | $3,298,000 |
| Refinancing | 373 | $89,891,000 | $240,000 | $5,000,000 | $68,000 | $2,656,000 |
| Home Improvement | 248 | $11,776,000 | $47,000 | $1,000,000 | $58,000 | $563,000 |
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 |
|---|---|---|---|---|---|---|
| Not applicable | 560 | $182,947,000 | $326,000 | $14,000,000 | $0 | $0 |
| White | 463 | $44,506,000 | $96,000 | $2,292,000 | $104,000 | $2,819,000 |
| Black or African American | 53 | $4,252,000 | $80,000 | $1,350,000 | $87,000 | $337,000 |
| Not Provided | 18 | $779,000 | $43,000 | $155,000 | $59,000 | $143,000 |
| Asian | 14 | $2,562,000 | $183,000 | $500,000 | $332,000 | $3,298,000 |
| Hispanic | 11 | $680,000 | $61,000 | $250,000 | $40,000 | $93,000 |
| American Indian or Alaskan Native | 1 | $88,000 | $88,000 | $88,000 | $47,000 | $47,000 |
| Native Hawaiin 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) | 1,120 | $235,814,000 | $210,000 | $14,000,000 | $52,000 | $3,298,000 |
| 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 | 694 | $157,231,000 | $226,000 | $14,000,000 | $66,000 | $3,298,000 |
| Loan Purchased By The Institution | 192 | $61,962,000 | $322,000 | $1,350,000 | $0 | $0 |
| Application Denied By Financial Institution | 131 | $6,983,000 | $53,000 | $300,000 | $45,000 | $856,000 |
| Application Withdrawn By Applicant | 103 | $9,638,000 | $93,000 | $1,200,000 | $65,000 | $460,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 64 | $3,588,000 | $56,000 | $300,000 | $46,000 | $856,000 |
| Credit History | 51 | $2,475,000 | $48,000 | $247,000 | $40,000 | $159,000 |
| Collateral | 9 | $533,000 | $59,000 | $107,000 | $70,000 | $179,000 |
| Employment History | 4 | $28,000 | $7,000 | $10,000 | $59,000 | $104,000 |
| Unverifiable Information | 3 | $359,000 | $119,000 | $225,000 | $32,000 | $96,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Union Bank & Trust's 2016 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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