Cloverbelt Credit Union Mortgage Rates, Fees & Info
Wausau, WILEI: 254900KOP6JY8A0DIV80
Tax ID: 39-0926186
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Cloverbelt Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Cloverbelt Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Stevens Point, Shawano, and Wisconsin Rapids among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Cloverbelt 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
279Origination Dollar Volume (All Markets)
$40,585,000Top 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 |
|---|---|---|---|---|---|
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 256 | $37,240,000 | $145,469 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $1,940,000 | $161,667 | $0 | 0.00% |
| Stevens Point, WI (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $0 | 0.00% |
| Shawano, WI (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 0.00% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Cloverbelt Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 66
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 279 | $40,585,000 | $145,466 | $0 | 0.00% |
For 2021, Cloverbelt Credit Union's most frequently originated type of loan was Conventional, with 279 originations.
Loan Reason
For 2021, Cloverbelt Credit Union's most frequently cited loan purpose was Cash Out Refi, with 113 originations. The 2nd most popular reason was Home Purchase, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 279 | $40,585,000 | $145,466 | $0 | 0.00% |
For 2021, Cloverbelt Credit Union's most frequently cited loan duration was Other, with 279 originations.
Loan Sizing
2021 saw Cloverbelt Credit Union place emphasis on $100k-200k loans with 124 originations, totaling $17,400,000 in origination value.
Applicant Income
Cloverbelt Credit Union lent most frequently to those with incomes in the $50k or less range, with 80 originations. The second most popular income band? $75k-100k, with 63 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 279 | $40,585,000 | $145,466 | $0 | 0.00% |
Cloverbelt Credit Union lent most frequently to those with DTI ratios of Exempt%, with 279 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 270 | $39,660,000 | $146,889 | $0 | 0.00% |
| Asian | 8 | $640,000 | $80,000 | $0 | 0.00% |
| Not provided | 1 | $285,000 | $285,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.64%
Cloverbelt 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 origination97.85%
Cloverbelt 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 | 279 | $40,585,000 | $145,466 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Caliver Beach Mortgage, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Caliver Beach Mortgage, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |