New Wave Loans Residential Mortgage Rates, Fees & Info

Wilmington, DE

LEI: 2549004LHWTI9UAUAJ26

Tax ID: 80-0860660

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    New Wave Loans Residential is a smaller mortgage company specializing in Refi and Home Purchase loans. New Wave Loans Residential has a high proportion of conventional loans. Their top (well, only) market is Miami.

    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.

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    Originations

    35

    Origination Dollar Volume (All Markets)

    $36,495,000

    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) 35 $36,495,000 $1,042,714 $0 0.00%
    New Wave Loans Residential's top markets include and Miami among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $36,495,000 $1,042,714 $0 0.00%

    For 2019, New Wave Loans Residential's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $22,660,000 $1,030,000 $0 0.00%
    Home Purchase 13 $13,835,000 $1,064,231 $0 0.00%

    For 2019, New Wave Loans Residential's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 35 $36,495,000 $1,042,714 $0 0.00%

    For 2019, New Wave Loans Residential's most frequently cited loan duration was Other, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 10 $24,540,000 $2,454,000 $0 0.00%
    $200k-400k 9 $2,635,000 $292,778 $0 0.00%
    $600k-1MM 8 $6,110,000 $763,750 $0 0.00%
    $400k-600k 6 $2,960,000 $493,333 $0 0.00%
    $100k-200k 2 $250,000 $125,000 $0 0.00%

    2019 saw New Wave Loans Residential place emphasis on $1MM+ loans with 10 originations, totaling $24,540,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 27 $30,925,000 $1,145,370 $0 0.00%
    White 8 $5,570,000 $696,250 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.98%

    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
    -77.14%

    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 35 $36,495,000 $1,042,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 35 $36,495,000 $1,042,714

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    NOBLE HOME LOANS INC Conventional home mortgage Closing on a mortgage 1 100.0%