Bench Equity Mortgage Rates, Fees & Info
Mesa, AZLEI: 254900FL0I8OUMMBOZ11
Tax ID: 27-5343827
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Mortgage Data
Review & Overview
Bench Equity is a smaller mortgage company specializing in Home Purchase loans. Bench Equity has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Los Angeles, San Diego, Dallas, and Tucson among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Bench Equity 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
522Origination Dollar Volume (All Markets)
$121,100,000Top 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 301 | $55,735,000 | $185,166 | $0 | 10.20% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 85 | $32,435,000 | $381,588 | $0 | 10.14% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 39 | $13,445,000 | $344,744 | $0 | 10.15% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 59 | $11,335,000 | $192,119 | $0 | 11.29% |
| TUCSON, AZ (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $0 | 10.50% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 12 | $1,730,000 | $144,167 | $0 | 11.25% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $1,660,000 | $276,667 | $0 | 10.00% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 5 | $1,305,000 | $261,000 | $0 | 11.05% |
| PROVO-OREM, UT (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $0 | 11.40% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 10.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 10.00% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 10.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 522 | $121,100,000 | $231,992 | $0 | 10.35% |
For 2018, Bench Equity's most frequently originated type of loan was Conventional, with 522 originations.
Loan Reason
For 2018, Bench Equity's most frequently cited loan purpose was Home Purchase, with 501 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 522 | $121,100,000 | $231,992 | $0 | 10.35% |
For 2018, Bench Equity's most frequently cited loan duration was Other, with 522 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 521 | $120,845,000 | $231,948 |
| 5-6% | 1 | $255,000 | $255,000 |
During 2018, Bench Equity's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 521 originations.
Loan Sizing
2018 saw Bench Equity place emphasis on $100k-200k loans with 228 originations, totaling $32,810,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.82%
Bench Equity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.30%
Bench Equity has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 522 | $121,100,000 | $231,992 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 522 | $121,100,000 | $231,992 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OZK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 33.3% |
| BANK OZK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| BANK OZK | Other type of mortgage | Trouble during payment process | 1 | 33.3% |