New Wave Loans Residential Mortgage Rates, Fees & Info

Wilmington, DE

LEI: 2549004LHWTI9UAUAJ26

Tax ID: 80-0860660

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

New Wave Loans Residential is a smaller mortgage company specializing in Cash Out Refi and Home Improvement loans. New Wave Loans Residential has a high proportion of conventional loans. Their top two markets are Miami and Palm Bay .

New Wave Loans Residential has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

9

Origination Dollar Volume (All Markets)

$25,635,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $25,230,000 $3,153,750 $0 8.49%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 8.75%
New Wave Loans Residential's top markets include Miami and Palm Bay among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 9 $25,635,000 $2,848,333 $0 8.52%

    For 2022, New Wave Loans Residential's most frequently originated type of loan was Conventional, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4 $2,710,000 $677,500 $0 8.19%
    Refi 2 $810,000 $405,000 $0 8.63%
    Cash Out Refi 2 $7,110,000 $3,555,000 $0 8.85%
    Home Improvement 1 $15,005,000 $15,005,000 $0 8.99%

    For 2022, New Wave Loans Residential's most frequently cited loan purpose was Home Purchase, with 4 originations. The 2nd most popular reason was Refi, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 8 $24,900,000 $3,112,500 $0 8.52%
    3 Year 1 $735,000 $735,000 $0 8.50%

    For 2022, New Wave Loans Residential's most frequently cited loan duration was Other, with 8 originations. The 2nd most popular length was 3 Year, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 7 $23,965,000 $3,423,571
    7-8% 2 $1,670,000 $835,000

    During 2022, New Wave Loans Residential's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 7 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 4 $23,220,000 $5,805,000 $0 8.67%
    $400k-600k 3 $1,375,000 $458,333 $0 8.42%
    $200k-400k 1 $305,000 $305,000 $0 8.25%
    $600k-1MM 1 $735,000 $735,000 $0 8.50%

    2022 saw New Wave Loans Residential place emphasis on $1MM+ loans with 4 originations, totaling $23,220,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 9 $25,635,000 $2,848,333 $0 8.52%

    Approval Rates

    Total approvals of all applications
    100.00%

    New Wave Loans Residential has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    -33.33%

    New Wave Loans Residential has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 9 $25,635,000 $2,848,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    9 $25,635,000 $2,848,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $735,000 $735,000 $0 8.50%
    60-80% 7 $9,895,000 $1,413,571 $0 8.46%
    Under 20% 1 $15,005,000 $15,005,000 $0 8.99%