Bank Of The Southwest Mortgage Rates, Fees & Info

Roswell, NM

LEI: 254900CUL2SYJXAEFW91

Tax ID: 85-0043880

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Mortgage Data

Review & Overview

Bank Of The Southwest is a smaller bank specializing in Home Purchase and Home Improvement loans. Bank Of The Southwest has a high proportion of conventional loans. Their top markets by origination volume include: Farmington, Show Low, Roswell, and Las Cruces among others. We have data for 5 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.

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Originations

37

Origination Dollar Volume (All Markets)

$5,985,000

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
FARMINGTON, NM (FHA|USDA|VA) 7 $1,625,000 $232,143 $0 0.00%
Outside of Metro Areas 12 $1,590,000 $132,500 $0 0.00%
Show Low, AZ (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $0 0.00%
Roswell, NM (FHA|USDA|VA) 9 $705,000 $78,333 $0 0.00%
LAS CRUCES, NM (FHA|USDA|VA) 8 $540,000 $67,500 $0 0.00%
Bank Of The Southwest's top markets include Farmington, Show Low, Roswell, and Las Cruces among others.

Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $5,985,000 $161,757 $0 0.00%

    For 2019, Bank Of The Southwest's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $1,860,000 $116,250 $0 0.00%
    Refi 16 $1,180,000 $73,750 $0 0.00%
    Home Improvement 5 $2,945,000 $589,000 $0 0.00%

    For 2019, Bank Of The Southwest's most frequently cited loan purpose was Home Purchase, with 16 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 37 $5,985,000 $161,757 $0 0.00%

    For 2019, Bank Of The Southwest's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $835,000 $43,947 $0 0.00%
    $100k-200k 12 $1,560,000 $130,000 $0 0.00%
    $200k-400k 3 $825,000 $275,000 $0 0.00%
    $600k-1MM 2 $1,240,000 $620,000 $0 0.00%
    $1MM+ 1 $1,525,000 $1,525,000 $0 0.00%

    2019 saw Bank Of The Southwest place emphasis on $100,000 or less loans with 19 originations, totaling $835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 21 $1,245,000 $59,286 $0 0.00%
    $150k-250k 3 $435,000 $145,000 $0 0.00%
    $50k-75k 2 $1,590,000 $795,000 $0 0.00%
    $100k-150k 1 $275,000 $275,000 $0 0.00%
    $75k-100k 1 $135,000 $135,000 $0 0.00%

    Bank Of The Southwest lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $5,985,000 $161,757 $0 0.00%

    Bank Of The Southwest lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $3,610,000 $138,846 $0 0.00%
    Not applicable 9 $2,305,000 $256,111 $0 0.00%
    American Indian 1 $35,000 $35,000 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.42%

    Bank Of The Southwest has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.27%

    Bank Of The Southwest has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $5,985,000 $161,757

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,680,000 $840,000
    Single Family (1-4 Units):Manufactured 15 $1,225,000 $81,667
    Single Family (1-4 Units):Site-Built 20 $3,080,000 $154,000

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%