Western Rockies Federal Credit Union Mortgage Rates, Fees & Info
Grand Junction, COLEI: 254900EF3XN2OQRXL865
Tax ID: 84-0467918
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Western Rockies Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Western Rockies Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Grand Junction, Glenwood Springs, Edwards, and Denver among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Western Rockies Federal Credit Union 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
60Origination Dollar Volume (All Markets)
$8,100,000Top 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 |
---|---|---|---|---|---|
GRAND JUNCTION, CO (FHA|USDA|VA) | 42 | $4,980,000 | $118,571 | $0 | 0.00% |
Glenwood Springs, CO (FHA|USDA|VA) | 12 | $1,700,000 | $141,667 | $0 | 0.00% |
Edwards, CO (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $0 | 0.00% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 60 | $8,100,000 | $135,000 | $0 | 0.00% |
For 2018, Western Rockies Federal Credit Union's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
For 2018, Western Rockies Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 60 | $8,100,000 | $135,000 | $0 | 0.00% |
For 2018, Western Rockies Federal Credit Union's most frequently cited loan duration was Other, with 60 originations.
Loan Sizing
2018 saw Western Rockies Federal Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,355,000 in origination value.
Applicant Income
Western Rockies Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 60 | $8,100,000 | $135,000 | $0 | 0.00% |
Western Rockies Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 60 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 59 | $8,035,000 | $136,186 | $0 | 0.00% |
American Indian | 1 | $65,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.59%
Western Rockies Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.67%
Western Rockies Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 60 | $8,100,000 | $135,000 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Manufactured | 9 | $1,205,000 | $133,889 |
Single Family (1-4 Units):Site-Built | 51 | $6,895,000 | $135,196 |
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
WESTERN UNION COMPANY, THE | Conventional home mortgage | Trouble during payment process | 15 | 65.2% |
WESTERN UNION COMPANY, THE | FHA mortgage | Trouble during payment process | 1 | 4.3% |
WESTERN UNION COMPANY, THE | Other type of mortgage | Trouble during payment process | 3 | 13.0% |
WESTERN UNION COMPANY, THE | VA mortgage | Trouble during payment process | 4 | 17.4% |