Bank Of The West Mortgage Rates, Fees & Info
Grapevine, TXLEI: 254900QA42CLV3RMFZ29
Tax ID: 75-2075828
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of The West is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of The West has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Taos, and Mineral Wells among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of The West 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. They typically have relatively high rates.
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Originations
18Origination Dollar Volume (All Markets)
$4,990,000Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 16 | $4,350,000 | $271,875 | $0 | 6.33% |
| Taos, NM (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 5.50% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 18 | $4,990,000 | $277,222 | $0 | 6.27% |
For 2018, Bank Of The West's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 13 | $3,395,000 | $261,154 | $0 | 6.42% |
| Cash Out Refi | 3 | $1,105,000 | $368,333 | $0 | 5.75% |
| Refi | 2 | $490,000 | $245,000 | $0 | 6.38% |
For 2018, Bank Of The West's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
For 2018, Bank Of The West's most frequently cited loan duration was 1 Year, with 5 originations. The 2nd most popular length was Other, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 7 | $1,515,000 | $216,429 |
| 5-6% | 6 | $2,410,000 | $401,667 |
| 7-8% | 1 | $115,000 | $115,000 |
During 2018, Bank Of The West's average interest rate for loans was 5.75%, while their most frequently originated rate bucket for loans was 6-7%, with 7 originations.
Loan Sizing
2018 saw Bank Of The West place emphasis on $100k-200k loans with 8 originations, totaling $1,350,000 in origination value.
Applicant Income
Bank Of The West lent most frequently to those with incomes in the $250k+ range, with 2 originations. The second most popular income band? $50k-75k, with 2 originations.
Applicant Debt to Income Ratio
Bank Of The West lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? >60%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Bank Of The West has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.89%
Bank Of The West has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 18 | $4,990,000 | $277,222 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $515,000 | $515,000 |
| Single Family (1-4 Units):Site-Built | 17 | $4,475,000 | $263,235 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | FHA mortgage | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 2 | 7.4% |
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 2 | 7.4% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 3 | 11.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 5 | 18.5% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 3.7% |