Resource Bank N.a. Mortgage Rates, Fees & Info
DeKalb, ILLEI: 254900ZOIZTP7ZF6AH17
Tax ID: 36-1077820
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Resource Bank N.a. is a smaller bank specializing in Home Purchase and Refi loans. Resource Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Rockford, Ottawa, Flagstaff, and Rochelle among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Resource Bank N.a. has an above average approval rate when compared to the average across all lenders.
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Originations
105Origination Dollar Volume (All Markets)
$22,595,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 73 | $17,345,000 | $237,603 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 10 | $1,720,000 | $172,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 7 | $865,000 | $123,571 | $0 | 0.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 7 | $615,000 | $87,857 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $405,000 | $135,000 | $0 | 0.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 105 | $22,595,000 | $215,190 | $0 | 0.00% |
For 2019, Resource Bank N.a.'s most frequently originated type of loan was Conventional, with 105 originations.
Loan Reason
For 2019, Resource Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 105 | $22,595,000 | $215,190 | $0 | 0.00% |
For 2019, Resource Bank N.a.'s most frequently cited loan duration was Other, with 105 originations.
Loan Sizing
2019 saw Resource Bank N.a. place emphasis on $100,000 or less loans with 44 originations, totaling $2,680,000 in origination value.
Applicant Income
Resource Bank N.a. lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 105 | $22,595,000 | $215,190 | $0 | 0.00% |
Resource Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 105 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 92 | $14,010,000 | $152,283 | $0 | 0.00% |
| Not applicable | 13 | $8,585,000 | $660,385 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.22%
Resource Bank N.a. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 105 | $22,595,000 | $215,190 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Resurgent Capital Services L.P. | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| Resurgent Capital Services L.P. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |