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 Cash Out Refi loans. South Story Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Mason City, Pella, and Spirit Lake among others. We have data for 9 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
95Origination Dollar Volume (All Markets)
$22,625,000Top 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) | 47 | $11,205,000 | $238,404 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 36 | $10,200,000 | $283,333 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $400,000 | $66,667 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Oskaloosa, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 95 | $22,625,000 | $238,158 | $0 | 0.00% |
For 2019, South Story Bank & Trust's most frequently originated type of loan was Conventional, with 95 originations.
Loan Reason
For 2019, South Story Bank & Trust's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 95 | $22,625,000 | $238,158 | $0 | 0.00% |
For 2019, South Story Bank & Trust's most frequently cited loan duration was Other, with 95 originations.
Loan Sizing
2019 saw South Story Bank & Trust place emphasis on $100,000 or less loans with 38 originations, totaling $1,870,000 in origination value.
Applicant Income
South Story Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 95 | $22,625,000 | $238,158 | $0 | 0.00% |
South Story Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination93.68%
South Story Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 95 | $22,625,000 | $238,158 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 6 | $9,120,000 | $1,520,000 |
| Single Family (1-4 Units):Site-Built | 89 | $13,505,000 | $151,742 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 25.0% |
| SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |