Finance Factors Limited Mortgage Rates, Fees & Info

Honolulu, HI

LEI: 254900E5RO9KE6OFNQ81

Tax ID: 99-0077649

2021 Data | 2020 Data | 2019 Data | 2018 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

Item Value (in 000's)
Total interest income $20,458
Net interest income $18,745
Total noninterest income $6,233
Gross Fiduciary activities income $0
Service charges on deposit accounts $2
Trading account gains and fees $3,520
Additional Noninterest Income $2,711
Pre-tax net operating income $7,168
Securities gains (or losses, -) $13
Income before extraordinary items $5,475
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,475
Minority interest net income $0
Net income $5,475
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,464

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.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

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