Union Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Union Bank & Trust of Richmond, VA reported 266 mortgage applications totaling $23.3 million, down 34% from 2004. The average application was for $87,593, and applicants reported an average income of $81,812. 81% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Richmond, VA (98), Charlottesville, VA (36) and Virginia Beach-Norfolk-Newport News, VA-NC (1) (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 | 266 |
| Total Mortgage Loan Application Amount | $23,300,000 |
| Average Mortgage Loan Application Amount | $87,593 |
| Highest Mortgage Loan Application Amount | $1,232,000 |
| Average Applicant Income | $81,812 |
| Highest Applicant Income | $3,000,000 |
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Act (HMDA) records Union Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Union Bank & Trust in 2005
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 | 141 | $2,629,000 | $9,333 | $119,000 | $41,000 | $215,000 |
| Home Purchase | 65 | $15,258,000 | $158,666 | $1,232,000 | $123,333 | $3,000,000 |
| Refinancing | 60 | $5,413,000 | $70,000 | $1,000,000 | $137,500 | $1,100,000 |
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 | 187 | $13,485,000 | $58,000 | $1,232,000 | $204,500 | $3,000,000 |
| Black or African American | 45 | $1,391,000 | $17,000 | $334,000 | $36,500 | $104,000 |
| Not applicable | 25 | $7,263,000 | $187,333 | $1,000,000 | $0 | $0 |
| Not Provided | 4 | $270,000 | $67,000 | $257,000 | $38,000 | $60,000 |
| Asian | 3 | $883,000 | $294,000 | $773,000 | $373,000 | $1,100,000 |
| Hispanic | 2 | $8,000 | $4,000 | $5,000 | $45,000 | $46,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 266 | $23,300,000 | $61,000 | $1,232,000 | $98,000 | $3,000,000 |
| 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 | 215 | $20,613,000 | $58,333 | $1,232,000 | $74,666 | $3,000,000 |
| Application Denied By Financial Institution | 33 | $605,000 | $18,000 | $107,000 | $43,000 | $104,000 |
| Application Withdrawn By Applicant | 10 | $530,000 | $32,500 | $159,000 | $68,500 | $146,000 |
| Loan Purchased By The Institution | 8 | $1,552,000 | $181,000 | $500,000 | $121,500 | $486,000 |
| 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 |
| Application Approved But Not Accepted | 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 | 17 | $343,000 | $20,000 | $107,000 | $50,000 | $104,000 |
| Debt-To-Income Ratio | 16 | $262,000 | $16,000 | $70,000 | $31,000 | $95,000 |
| 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 |
| 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 2005 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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