Interaudi Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 3T5M8FX6V6B82KVKOB17

Tax ID: 13-3148430

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Interaudi Bank is a smaller bank specializing in Home Purchase and Refi loans. Interaudi Bank has a high proportion of conventional loans. Their top markets include New York, Miami, Los Angeles, San Diego, and Washington among others. Interaudi Bank 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.


Originations

66

Origination Dollar Volume (All Markets)

$89,720,000

Employee count

113

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 23 $39,105,000 $1,700,217 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 35 $38,755,000 $1,107,286 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $5,245,000 $5,245,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $4,440,000 $2,220,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%

Interaudi Bank's top markets include New York, Miami, Los Angeles, San Diego, and Washington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 66 $89,720,000 $1,359,394 $0 0.00%

For the 2021 period, Interaudi Bank's most frequently originated loan type of loans were Conventional, with 66 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 38 $54,370,000 $1,430,789 $0 0.00%
Refi 24 $30,140,000 $1,255,833 $0 0.00%
Cash Out Refi 4 $5,210,000 $1,302,500 $0 0.00%

For the 2021, Interaudi Bank's most frequently cited loan purpose of loans were Home Purchase, with 38 originations. The 2nd most popular reason of loans were Refi, with 24 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 66 $89,720,000 $1,359,394 $0 0.00%

For the 2021, Interaudi Bank's most frequently cited loan length of loans were Other, with 66 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 29 $70,845,000 $2,442,931 $0 0.00%
$400k-600k 15 $6,975,000 $465,000 $0 0.00%
$600k-1MM 11 $8,805,000 $800,455 $0 0.00%
$200k-400k 9 $2,855,000 $317,222 $0 0.00%
$100k-200k 2 $240,000 $120,000 $0 0.00%

2021 saw Interaudi Bank place emphasis on $1MM+ loans with 29 originations, totaling $70,845,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 6 $7,690,000 $1,281,667 $0 0.00%
$150k-250k 2 $2,020,000 $1,010,000 $0 0.00%

Interaudi Bank lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $150k-250k, with 2 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 66 $89,720,000 $1,359,394 $0 0.00%

Interaudi Bank lent most frequently to those with DTI ratios of Exempt%, with 66 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 57 $78,255,000 $1,372,895 $0 0.00%
Not provided 9 $11,465,000 $1,273,889 $0 0.00%

Approval Rates

Total approvals of all applications
99.22%

Interaudi Bank 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
73.24%

Interaudi Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 66 $89,720,000 $1,359,394

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
66 $89,720,000 $1,359,394

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
INTERACTIVE MORTGAGE Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Interaudi Bank 19 East 54th Street New York, NY 10022 Full Service B&M $1,200,569
Interaudi Bank 78 Sw 7 Street Miami, FL 33130 Full Service B&M $789,398

For 2021, Interaudi Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $45,532
Net interest income $37,013
Total noninterest income $10,613
Gross Fiduciary activities income $0
Service charges on deposit accounts $273
Trading account gains and fees $0
Additional Noninterest Income $10,340
Pre-tax net operating income $16,137
Securities gains (or losses, -) $736
Income before extraordinary items $12,434
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,434
Minority interest net income $0
Net income $12,434
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,852

Interaudi Bank's gross interest income from loans was $45,532,000.
Interaudi Bank's net interest income from loans was $37,013,000.
Interaudi Bank's fee based income from loans was $273,000.
Interaudi Bank's net income from loans was $12,434,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $8,519
Provision for credit losses $475
Total noninterest expense $31,014
Salaries and employee benefits $21,740
Premises and equipment expense $3,686
Additional noninterest expense $5,588
Applicable income taxes $4,439
Net charge-offs $0
Cash dividends $6,179

Interaudi Bank's interest expense for loans was $8,519,000.
Interaudi Bank's payroll and benefits expense were $21,740,000.
Interaudi Bank's property, plant and equipment expenses $3,686,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $2,084,245
Deposits held in domestic offices $2,084,245
Deposits by Individuals, partnerships, and corporations $2,068,253
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $15,152
Deposits by Commercial banks and other depository institutions in U.S. $840
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,239,275
Demand deposits $1,123,056
Nontransaction accounts $844,970
Money market deposit accounts (MMDAs) $43,860
Other savings deposits (excluding MMDAs) $22,666
Total time deposits $778,444
Total time and savings deposits $961,189
Noninterest-bearing deposits $1,080,272
Interest-bearing deposits $1,003,973
Retail deposits $1,336,768
IRAs and Keogh plan accounts $3,938
Brokered deposits $90,924
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,395,534
Cash & Balances due from depository institutions $929,236
Interest-bearing balances $912,592
Total securities $419,193
Federal funds sold & reverse repurchase $0
Net loans and leases $1,019,967
Loan and leases loss allowance $7,142
Trading account assets $0
Bank premises and fixed assets $5,796
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $21,342

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,395,534
Total Liabilities $2,206,035
Total deposits $2,084,245
Interest-bearing deposits $1,003,973
Deposits held in domestic offices $2,084,245
% insured (estimated) $47
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $118,000
Subordinated debt $0
All other liabilities $3,790

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,019,967
Loan and leases loss allowance $7,142
Total loans and leases (domestic) $1,027,109
All real estate loans $829,004
Real estate loans in domestic offices $829,004
Construction and development loans $47,311
Residential 1-4 family construction $3,506
Other construction, all land development and other land $43,805
Loans secured by nonfarm nonresidential properties $252,017
Nonfarm nonresidential secured by owner-occupied properties $66,094
Commercial real estate & other non-farm, non-residential $185,923
Multifamily residential real estate $80,126
1-4 family residential loans $449,149
Farmland loans $401
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $191,867
To non-U.S. addressees $48,048
Loans to individuals $5,095
Credit card loans $698
Related Plans $10
Consumer Auto Loans $0
Other loans to individuals $4,387
All other loans & leases $4,258
Loans to foreign governments and official institutions $0
Other loans $4,258
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $37,935
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Interaudi Bank had $1,019,967,000 of loans outstanding in 2021. $829,004,000 of loans were in real estate loans. $47,311,000 of loans were in development loans. $80,126,000 of loans were in multifamily mortgage loans. $449,149,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $698,000 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 56 $28,191 $503,411
Nonfarm, nonresidential loans - $100-250k 7 $1,164 $166,286
Nonfarm, nonresidential loans - $250k-1MM 49 $27,027 $551,571
Commercial & Industrial, US addressed loans - <$1MM 126 $23,688 $188,000
Commercial & Industrial, US addressed loans - <$100k 60 $653 $10,883
Commercial & Industrial, US addressed loans - $100-250k 23 $3,359 $146,043
Commercial & Industrial, US addressed loans - $250k-1MM 43 $19,676 $457,581
Farmland loans - <$1MM 1 $401 $401,000
Farmland loans - $250k-1MM 1 $401 $401,000