Shea Mortgage Rates, Fees & Info

Walnut, CA

LEI: 254900R9A6TW85BTVS20

Tax ID: 95-4523866

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Shea Mortgage is a smaller mortgage company specializing in Home Purchase loans. Shea Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Phoenix, Denver, San Francisco, Stockton, and Los Angeles among others. Shea Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Shea Mortgage is typically a low fee lendor.


Originations

1,203

Origination Dollar Volume (All Markets)

$526,115,000
Show all (17) awards

Relative Rate

Shea Mortgage 's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Shea Mortgage 's average total fees for a 30 year fixed rate mortgage are $2,225.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 382 $145,760,000 $381,571 $2,126 3.01%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 156 $79,420,000 $509,103 $2,084 2.97%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 95 $63,405,000 $667,421 $1,413 3.01%
STOCKTON, CA (FHA|USDA|VA) 99 $51,155,000 $516,717 $1,276 3.06%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 38 $30,640,000 $806,316 $3,208 2.97%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 61 $23,145,000 $379,426 $2,026 2.95%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 41 $21,375,000 $521,341 $4,765 2.90%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 54 $17,300,000 $320,370 $2,711 2.94%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 42 $15,410,000 $366,905 $1,614 2.91%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 54 $15,100,000 $279,630 $1,728 3.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 32 $14,580,000 $455,625 $2,188 2.94%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 36 $12,130,000 $336,944 $2,910 3.05%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 33 $9,605,000 $291,061 $1,438 3.02%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 16 $9,200,000 $575,000 $2,864 2.94%
OCALA, FL (FHA|USDA|VA) 26 $5,820,000 $223,846 $4,729 2.95%
WINCHESTER, VA-WV (FHA|USDA|VA) 14 $4,680,000 $334,286 $255 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 17 $4,045,000 $237,941 $4,240 3.10%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 6 $2,740,000 $456,667 $2,227 3.23%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $605,000 $605,000 $52 2.50%

Shea Mortgage 's top markets include Phoenix, Denver, San Francisco, Stockton, and Los Angeles among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,083 $467,815,000 $431,962 $1,603 3.03%
VA 91 $45,085,000 $495,440 $6,928 2.64%
FHA 29 $13,215,000 $455,690 $8,957 2.81%

For the 2021 period, Shea Mortgage 's most frequently originated loan type of loans were Conventional, with 1,083 originations. Their 2nd most popular type is VA, with 91 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,198 $524,380,000 $437,713 $2,173 3.00%
Refi 5 $1,735,000 $347,000 $4,497 2.55%

For the 2021, Shea Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,198 originations. The 2nd most popular reason of loans were Refi, with 5 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,120 $502,960,000 $449,071 $2,225 3.03%
15 Year 69 $19,445,000 $281,812 $1,666 2.46%
20 Year 10 $2,610,000 $261,000 $1,823 2.89%
10 Year 4 $1,100,000 $275,000 $204 2.38%

For the 2021, Shea Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,120 originations. The 2nd most popular length of loans were 15 Year, with 69 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 996 $439,160,000 $440,924
$1k-2k 116 $41,220,000 $355,345
$2k-3k 41 $18,695,000 $455,976
$3k-4k 33 $16,655,000 $504,697
$5k+ 17 $10,385,000 $610,882

$2,225 of loans were Shea Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 996 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 592 $256,410,000 $433,125
3-4% 507 $228,285,000 $450,266
<2.5% 103 $40,905,000 $397,136
4-5% 1 $515,000 $515,000

During 2021, Shea Mortgage 's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 592 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 470 $233,980,000 $497,830 $1,855 3.02%
$200k-400k 435 $131,435,000 $302,149 $2,105 2.98%
$600k-1MM 180 $133,160,000 $739,778 $3,498 3.03%
$100k-200k 98 $14,590,000 $148,878 $1,607 2.90%
$100,000 or less 12 $1,000,000 $83,333 $1,357 2.79%
$1MM+ 8 $11,950,000 $1,493,750 $4,418 2.75%

2021 saw Shea Mortgage place emphasis on $400k-600k loans with 470 originations, totaling $233,980,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 400 $166,290,000 $415,725 $2,115 2.98%
$150k-250k 370 $192,440,000 $520,108 $2,487 3.02%
$75k-100k 176 $59,510,000 $338,125 $1,939 2.98%
$50k-75k 119 $30,925,000 $259,874 $1,880 2.97%
$250k+ 117 $73,115,000 $624,915 $2,263 3.04%
$50k or less 21 $3,835,000 $182,619 $1,450 2.98%

Shea Mortgage lent most frequently to those with incomes in the $100k-150k range, with 400 originations. The second most popular income band? $150k-250k, with 370 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 280 $119,030,000 $425,107 $1,731 2.98%
30-36% 221 $99,465,000 $450,068 $1,902 3.02%
<20% 92 $29,530,000 $320,978 $2,196 2.92%
48% 49 $19,905,000 $406,224 $2,450 3.01%
36% 48 $21,650,000 $451,042 $2,661 2.95%
38% 45 $21,345,000 $474,333 $1,542 2.99%
47% 45 $20,095,000 $446,556 $3,026 3.02%
41% 45 $20,125,000 $447,222 $2,323 3.04%
37% 44 $22,390,000 $508,864 $2,129 3.05%
40% 44 $19,690,000 $447,500 $2,022 3.01%
42% 43 $19,885,000 $462,442 $1,619 3.02%
44% 41 $19,345,000 $471,829 $2,279 3.07%
39% 39 $19,285,000 $494,487 $2,633 3.02%
45% 37 $17,085,000 $461,757 $2,150 2.96%
49% 35 $15,885,000 $453,857 $2,713 2.99%
46% 34 $15,280,000 $449,412 $2,218 3.08%
43% 34 $13,000,000 $382,353 $2,056 3.08%
50-60% 23 $10,815,000 $470,217 $5,615 2.75%
>60% 4 $2,310,000 $577,500 $16,005 2.75%

Shea Mortgage lent most frequently to those with DTI ratios of 20-30%, with 280 originations. The next most common DTI ratio? 30-36%, with 221 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 800 $319,310,000 $399,138 $2,253 2.99%
Asian 231 $124,695,000 $539,805 $1,392 3.05%
Not provided 120 $58,500,000 $487,500 $2,763 2.98%
Black 43 $18,255,000 $424,535 $3,021 2.96%
American Indian 7 $3,265,000 $466,429 $4,820 3.00%
Japanese 1 $1,465,000 $1,465,000 $38 2.75%
Native Hawaiian 1 $625,000 $625,000 $6,609 2.25%

Approval Rates

Total approvals of all applications
96.79%

Shea Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
48.27%

Shea Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 1,203 $526,115,000 $437,336

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,203 $526,115,000 $437,336

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 129 $29,225,000 $226,550 $1,502 2.88%
40-60% 183 $58,595,000 $320,191 $1,715 2.92%
60-80% 394 $193,640,000 $491,472 $1,769 3.05%
80-100% 457 $232,375,000 $508,479 $2,345 3.03%
Over 100% 16 $9,470,000 $591,875 $20,275 2.66%
Under 20% 24 $2,810,000 $117,083 $1,070 2.88%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SI Mortgage Comapny Co. Conventional home mortgage Closing on a mortgage 1 100.0%