Finance Factors Limited Mortgage Rates, Fees & Info
Honolulu, HI
LEI: 254900E5RO9KE6OFNQ81
Tax ID: 99-0077649
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Mortgage Data
Bank Data
Overview
Finance Factors Limited is a
smaller
mortgage company
specializing in
Home Purchase, Refi, and Cash Out Refi loans.
Finance Factors Limited has a high proportion of conventional loans.
Their top markets include Urban Honolulu, Hilo, Kahului, and Kapaa among others. Finance Factors Limited has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
178
Origination Dollar Volume (All Markets)
$103,910,000
Employee count
119
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
URBAN HONOLULU, HI (FHA|USDA|VA)
|
126
|
$74,620,000 |
$592,222 |
$0 |
0.00% |
Hilo, HI (FHA|USDA|VA)
|
29
|
$14,215,000 |
$490,172 |
$0 |
0.00% |
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA)
|
13
|
$8,165,000 |
$628,077 |
$0 |
0.00% |
Kapaa, HI (FHA|USDA|VA)
|
10
|
$6,910,000 |
$691,000 |
$0 |
0.00% |
Finance Factors Limited's top markets include Urban Honolulu, Hilo, Kahului, and Kapaa among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
178 |
$103,910,000 |
$583,764 |
$0 |
0.00% |
For the 2021 period, Finance Factors Limited's most frequently
originated loan type
of loans were Conventional, with 178 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
75 |
$50,515,000 |
$673,533 |
$0 |
0.00% |
Refi |
52 |
$27,040,000 |
$520,000 |
$0 |
0.00% |
Cash Out Refi |
47 |
$24,855,000 |
$528,830 |
$0 |
0.00% |
Other |
4 |
$1,500,000 |
$375,000 |
$0 |
0.00% |
For the 2021, Finance Factors Limited's most frequently cited loan
purpose
of loans were Home Purchase, with 75
originations.
The 2nd most popular reason of loans were Refi,
with 52 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Other |
178 |
$103,910,000 |
$583,764 |
$0 |
0.00% |
For the 2021, Finance Factors Limited's most frequently cited loan
length
of loans were Other, with 178 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
58 |
$17,640,000 |
$304,138 |
$0 |
0.00% |
$400k-600k |
38 |
$18,450,000 |
$485,526 |
$0 |
0.00% |
$600k-1MM |
37 |
$26,915,000 |
$727,432 |
$0 |
0.00% |
$1MM+ |
23 |
$37,325,000 |
$1,622,826 |
$0 |
0.00% |
$100k-200k |
22 |
$3,580,000 |
$162,727 |
$0 |
0.00% |
2021 saw Finance Factors Limited place emphasis on
$200k-400k loans
with 58 originations, totaling
$17,640,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
43 |
$21,785,000 |
$506,628 |
$0 |
0.00% |
$150k-250k |
36 |
$23,870,000 |
$663,056 |
$0 |
0.00% |
$250k+ |
28 |
$26,690,000 |
$953,214 |
$0 |
0.00% |
$50k-75k |
27 |
$11,755,000 |
$435,370 |
$0 |
0.00% |
$75k-100k |
27 |
$11,495,000 |
$425,741 |
$0 |
0.00% |
$50k or less |
10 |
$1,970,000 |
$197,000 |
$0 |
0.00% |
Finance Factors Limited lent most frequently to those with incomes in the
$100k-150k range, with
43 originations.
The second most popular income band? $150k-250k,
with 36 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Exempt% |
178 |
$103,910,000 |
$583,764 |
$0 |
0.00% |
Finance Factors Limited lent most frequently to those with DTI ratios
of Exempt%, with
178 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Asian |
104 |
$49,440,000 |
$475,385 |
$0 |
0.00% |
White |
50 |
$30,200,000 |
$604,000 |
$0 |
0.00% |
Not provided |
8 |
$11,670,000 |
$1,458,750 |
$0 |
0.00% |
Native Hawaiian |
10 |
$7,030,000 |
$703,000 |
$0 |
0.00% |
Not applicable |
5 |
$4,935,000 |
$987,000 |
$0 |
0.00% |
American Indian |
1 |
$635,000 |
$635,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
88.97%
Finance Factors Limited has an average approval rate.
Pick Rate
Approvals leading to origination
71.61%
Finance Factors Limited has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
Exempt |
178 |
$103,910,000 |
$583,764 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
178 |
$103,910,000 |
$583,764 |
Complaints
Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
Finance of America Holdings LLC |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
5.4% |
Finance of America Holdings LLC |
Conventional home mortgage |
Closing on a mortgage |
2 |
5.4% |
Finance of America Holdings LLC |
Conventional home mortgage |
Problem with a credit reporting company's investigation into an existing problem |
1 |
2.7% |
Finance of America Holdings LLC |
Conventional home mortgage |
Trouble during payment process |
4 |
10.8% |
Finance of America Holdings LLC |
FHA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
2.7% |
Finance of America Holdings LLC |
Other type of mortgage |
Trouble during payment process |
1 |
2.7% |
Finance of America Holdings LLC |
Reverse mortgage |
Applying for a mortgage or refinancing an existing mortgage |
8 |
21.6% |
Finance of America Holdings LLC |
Reverse mortgage |
Closing on a mortgage |
5 |
13.5% |
Finance of America Holdings LLC |
Reverse mortgage |
Struggling to pay mortgage |
4 |
10.8% |
Finance of America Holdings LLC |
Reverse mortgage |
Trouble during payment process |
9 |
24.3% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Finance Factors, Ltd. |
4393 Kukui Grove Street, Suite A Lihue, HI 96766 |
Full Service B&M
|
$8,815 |
Finance Factors, Ltd. |
4211 Waialea Avenue Honolulu, HI 96816 |
Full Service B&M
|
$38,372 |
Finance Factors, Ltd. |
605 Laukapu Street Hilo, HI 96720 |
Full Service B&M
|
$22,020 |
Finance Factors, Ltd. |
602 Kailua Road Kailua, HI 96734 |
Full Service B&M
|
$25,756 |
Finance Factors, Ltd. |
850 Kamehameha Highway Pearl City, HI 96782 |
Full Service B&M
|
$58,315 |
Finance Factors, Ltd. |
3408 Waialae Avenue, Suite 101 Honolulu, HI 96816 |
Full Service B&M
|
$39,765 |
Finance Factors, Ltd. |
75-1022 Henry Street, Unit 6 Kailua Kona, HI 96740 |
Full Service B&M
|
$11,883 |
Finance Factors, Ltd. |
1164 Bishop Street Honolulu, HI 96813 |
Full Service B&M
|
$71,734 |
Finance Factors, Ltd. |
1600 Kapiolani Boulevard, Suite 109 Honolulu, HI 96814 |
Full Service B&M
|
$25,100 |
Finance Factors, Ltd. |
1620 North School Street Honolulu, HI 96817 |
Full Service B&M
|
$38,115 |
Finance Factors, Ltd. |
1808 Liliha Street Honolulu, HI 96817 |
Full Service B&M
|
$62,478 |
Finance Factors, Ltd. |
27 South Puunene Avenue, Suite 2 Kahului, HI 96732 |
Full Service B&M
|
$24,673 |
Finance Factors, Ltd. |
2955 East Manoa Road, Suite A Honolulu, HI 96822 |
Full Service B&M
|
$22,879 |
For 2021, Finance Factors Limited had 13 branches.
Yearly Performance Overview
Bank Income
Finance Factors Limited's gross interest income from loans was $20,458,000.
Finance Factors Limited's net interest income from loans was $18,745,000.
Finance Factors Limited's fee based income from loans was $2,000.
Finance Factors Limited's net income from loans was $5,475,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$1,713 |
Provision for credit losses |
$0 |
Total noninterest expense |
$17,810 |
Salaries and employee benefits |
$10,866 |
Premises and equipment expense |
$2,279 |
Additional noninterest expense |
$4,665 |
Applicable income taxes |
$1,706 |
Net charge-offs |
$-149 |
Cash dividends |
$2,000 |
Finance Factors Limited's interest expense for loans was $1,713,000.
Finance Factors Limited's payroll and benefits expense were $10,866,000.
Finance Factors Limited's property, plant and equipment expenses $2,279,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$447,504 |
Deposits held in domestic offices |
$447,504 |
Deposits by Individuals, partnerships, and corporations |
$442,013 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$0 |
Deposits by Commercial banks and other depository institutions in U.S. |
$5,491 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$912 |
Demand deposits |
$912 |
Nontransaction accounts |
$446,592 |
Money market deposit accounts (MMDAs) |
$200,965 |
Other savings deposits (excluding MMDAs) |
$0 |
Total time deposits |
$245,628 |
Total time and savings deposits |
$446,592 |
Noninterest-bearing deposits |
$912 |
Interest-bearing deposits |
$446,592 |
Retail deposits |
$417,010 |
IRAs and Keogh plan accounts |
$7,331 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$578,059 |
Cash & Balances due from depository institutions |
$45,537 |
Interest-bearing balances |
$30,126 |
Total securities |
$71,008 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$374,843 |
Loan and leases loss allowance |
$12,093 |
Trading account assets |
$16,666 |
Bank premises and fixed assets |
$42,512 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$234 |
All other assets |
$27,259 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$578,059 |
Total Liabilities |
$503,756 |
Total deposits |
$447,504 |
Interest-bearing deposits |
$446,592 |
Deposits held in domestic offices |
$447,504 |
% insured (estimated) |
$91 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$50,000 |
Subordinated debt |
$0 |
All other liabilities |
$6,252 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$374,843 |
Loan and leases loss allowance |
$12,093 |
Total loans and leases (domestic) |
$386,936 |
All real estate loans |
$387,847 |
Real estate loans in domestic offices |
$377,513 |
Construction and development loans |
$28,811 |
Residential 1-4 family construction |
$4,074 |
Other construction, all land development and other land |
$24,737 |
Loans secured by nonfarm nonresidential properties |
$59,670 |
Nonfarm nonresidential secured by owner-occupied properties |
$4,149 |
Commercial real estate & other non-farm, non-residential |
$55,521 |
Multifamily residential real estate |
$73,078 |
1-4 family residential loans |
$215,954 |
Farmland loans |
$0 |
Loans held in foreign offices |
$10,334 |
Farm loans |
$0 |
Commercial and industrial loans |
$0 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$440 |
Credit card loans |
$0 |
Related Plans |
$0 |
Consumer Auto Loans |
$0 |
Other loans to individuals |
$440 |
All other loans & leases |
$0 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$0 |
Loans to depository institutions and acceptances of other banks |
$0 |
Loans not secured by real estate |
$0 |
Loans secured by real estate to non-U.S. addressees |
$0 |
Restructured Loans & leases |
$0 |
Non 1-4 family restructured loans & leases |
$0 |
Total loans and leases (foreign) |
$10,334 |
Finance Factors Limited had $374,843,000 of loans outstanding in 2021. $387,847,000 of loans were in real estate loans.
$28,811,000 of loans were in development loans. $73,078,000 of loans were in multifamily mortgage loans.
$215,954,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
Categorization |
# of Loans in Category |
$ amount of loans (in 000's) |
Average $/loan |
Nonfarm, nonresidential loans - <$1MM |
29 |
$8,320 |
$286,897 |
Nonfarm, nonresidential loans - <$100k |
3 |
$116 |
$38,667 |
Nonfarm, nonresidential loans - $100-250k |
6 |
$684 |
$114,000 |
Nonfarm, nonresidential loans - $250k-1MM |
20 |
$7,520 |
$376,000 |