Western Rockies Federal Credit Union Mortgage Rates, Fees & Info
Grand Junction, COLEI: 254900EF3XN2OQRXL865
Tax ID: 84-0467918
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Mortgage Data
Review & Overview
Western Rockies Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Western Rockies Federal Credit Union has a high proportion of conventional loans. Their top two markets are Grand Junction and Glenwood Springs .Western Rockies Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
29Origination Dollar Volume (All Markets)
$3,795,000Top 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) | 25 | $3,095,000 | $123,800 | $0 | 0.00% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $3,795,000 | $130,862 | $0 | 0.00% |
For 2020, Western Rockies Federal Credit Union's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2020, Western Rockies Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 15 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $3,795,000 | $130,862 | $0 | 0.00% |
For 2020, Western Rockies Federal Credit Union's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2020 saw Western Rockies Federal Credit Union place emphasis on $100k-200k loans with 13 originations, totaling $2,225,000 in origination value.
Applicant Income
Western Rockies Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 29 | $3,795,000 | $130,862 | $0 | 0.00% |
Western Rockies Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 29 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $3,795,000 | $130,862 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.97%
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 origination89.66%
Western Rockies Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 29 | $3,795,000 | $130,862 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 29 | $3,795,000 | $130,862 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WESTERN UNION COMPANY, THE | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| WESTERN UNION COMPANY, THE | Other type of mortgage | Trouble during payment process | 1 | 50.0% |