Bank Of The Southwest Mortgage Rates, Fees & Info
Roswell, NMLEI: 254900CUL2SYJXAEFW91
Tax ID: 85-0043880
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Bank Of The Southwest is a smaller bank specializing in Home Purchase, Refi, and Other loans. Bank Of The Southwest has a high proportion of conventional loans. Their top markets by origination volume include: Farmington, Portales, Roswell, Las Cruces, and Alamogordo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of The Southwest has an 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
40Origination Dollar Volume (All Markets)
$5,420,000Top 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 |
|---|---|---|---|---|---|
| FARMINGTON, NM (FHA|USDA|VA) | 10 | $2,430,000 | $243,000 | $0 | 0.00% |
| Portales, NM (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $830,000 | $69,167 | $0 | 0.00% |
| Roswell, NM (FHA|USDA|VA) | 9 | $425,000 | $47,222 | $0 | 0.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $0 | 0.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Durango, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $5,420,000 | $135,500 | $0 | 0.00% |
For 2018, Bank Of The Southwest's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 18 | $1,930,000 | $107,222 | $0 | 0.00% |
| Refi | 16 | $2,070,000 | $129,375 | $0 | 0.00% |
| Other | 6 | $1,420,000 | $236,667 | $0 | 0.00% |
For 2018, Bank Of The Southwest's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 40 | $5,420,000 | $135,500 | $0 | 0.00% |
For 2018, Bank Of The Southwest's most frequently cited loan duration was Other, with 40 originations.
Loan Sizing
2018 saw Bank Of The Southwest place emphasis on $100,000 or less loans with 29 originations, totaling $1,565,000 in origination value.
Applicant Income
Bank Of The Southwest lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 40 | $5,420,000 | $135,500 | $0 | 0.00% |
Bank Of The Southwest lent most frequently to those with DTI ratios of Exempt%, with 40 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 6 | $2,720,000 | $453,333 | $0 | 0.00% |
| White | 33 | $2,655,000 | $80,455 | $0 | 0.00% |
| Black | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications88.14%
Bank Of The Southwest has an average approval rate.
Pick Rate
Approvals leading to origination70.00%
Bank Of The Southwest 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 |
|---|---|---|---|
| Exempt | 40 | $5,420,000 | $135,500 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | FHA mortgage | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 2 | 7.4% |
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 2 | 7.4% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 3 | 11.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 5 | 18.5% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 3.7% |