South Story Bank & Trust Mortgage Rates, Fees & Info
SLATER, IALEI: 254900DJ8WC0BQHYR275
Tax ID: 42-0739240
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Mortgage Data
Review & Overview
South Story Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. South Story Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Mason City, and Marshalltown among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)South Story Bank & Trust has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
82Origination Dollar Volume (All Markets)
$17,010,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 43 | $9,945,000 | $231,279 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 35 | $6,665,000 | $190,429 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 82 | $17,010,000 | $207,439 | $0 | 0.00% |
For 2018, South Story Bank & Trust's most frequently originated type of loan was Conventional, with 82 originations.
Loan Reason
For 2018, South Story Bank & Trust's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
For 2018, South Story Bank & Trust's most frequently cited loan duration was Other, with 43 originations. The 2nd most popular length was 15 Year, with 18 originations.
Loan Sizing
2018 saw South Story Bank & Trust place emphasis on $100,000 or less loans with 35 originations, totaling $1,895,000 in origination value.
Applicant Income
South Story Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 82 | $17,010,000 | $207,439 | $0 | 0.00% |
South Story Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 82 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.78%
South Story Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.68%
South Story Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 82 | $17,010,000 | $207,439 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Conventional home mortgage | Struggling to pay mortgage | 1 | 12.5% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Conventional home mortgage | Trouble during payment process | 3 | 37.5% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 12.5% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Other type of mortgage | Closing on a mortgage | 1 | 12.5% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Other type of mortgage | Trouble during payment process | 1 | 12.5% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 12.5% |