Interaudi Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 3T5M8FX6V6B82KVKOB17

Tax ID: 13-3148430

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Mortgage Data

Bank Data

Review & 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 by origination volume include: New York, Miami, Los Angeles, Kingston, and Santa Maria among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Interaudi Bank 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.

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Originations

65

Origination Dollar Volume (All Markets)

$61,825,000

Employee count

106

Top 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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 33 $40,275,000 $1,220,455 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 24 $15,920,000 $663,333 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $3,000,000 $1,500,000 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 2 $1,220,000 $610,000 $0 0.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Outside of Metro Areas 1 $175,000 $175,000 $0 0.00%
Interaudi Bank's top markets include New York, Miami, Los Angeles, Kingston, and Santa Maria among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $61,825,000 $951,154 $0 0.00%

    For 2020, Interaudi Bank's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $26,885,000 $814,697 $0 0.00%
    Refi 32 $34,940,000 $1,091,875 $0 0.00%

    For 2020, Interaudi Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 65 $61,825,000 $951,154 $0 0.00%

    For 2020, Interaudi Bank's most frequently cited loan duration was Other, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 19 $14,055,000 $739,737 $0 0.00%
    $1MM+ 18 $39,000,000 $2,166,667 $0 0.00%
    $200k-400k 16 $4,590,000 $286,875 $0 0.00%
    $400k-600k 7 $3,435,000 $490,714 $0 0.00%
    $100k-200k 5 $745,000 $149,000 $0 0.00%

    2020 saw Interaudi Bank place emphasis on $600k-1MM loans with 19 originations, totaling $14,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 8 $7,770,000 $971,250 $0 0.00%
    $150k-250k 3 $2,595,000 $865,000 $0 0.00%
    $50k-75k 2 $1,200,000 $600,000 $0 0.00%
    $100k-150k 1 $505,000 $505,000 $0 0.00%
    $75k-100k 1 $975,000 $975,000 $0 0.00%

    Interaudi Bank lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 65 $61,825,000 $951,154 $0 0.00%

    Interaudi Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 50 $48,780,000 $975,600 $0 0.00%
    Not provided 9 $7,145,000 $793,889 $0 0.00%
    White 6 $5,900,000 $983,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.70%

    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
    83.08%

    Interaudi Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 65 $61,825,000 $951,154

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 65 $61,825,000 $951,154

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    INTERFIRST MORTGAGE COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 57.1%
    INTERFIRST MORTGAGE COMPANY Conventional home mortgage Closing on a mortgage 1 14.3%
    INTERFIRST MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 2 28.6%

    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 $1,065,406
    Interaudi Bank 78 Sw 7 Street Miami, FL 33130 Full Service B&M $714,843

    For 2020, Interaudi Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $51,748
    Net interest income $39,168
    Total noninterest income $9,703
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $345
    Trading account gains and fees $0
    Additional Noninterest Income $9,358
    Pre-tax net operating income $18,405
    Securities gains (or losses, -) $1,192
    Income before extraordinary items $14,586
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,586
    Minority interest net income $0
    Net income $14,586
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,644

    Interaudi Bank's gross interest income from loans was $51,748,000.
    Interaudi Bank's net interest income from loans was $39,168,000.
    Interaudi Bank's fee based income from loans was $345,000.
    Interaudi Bank's net income from loans was $14,586,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,580
    Provision for credit losses $631
    Total noninterest expense $29,835
    Salaries and employee benefits $20,674
    Premises and equipment expense $3,358
    Additional noninterest expense $5,803
    Applicable income taxes $5,011
    Net charge-offs $333
    Cash dividends $8,130

    Interaudi Bank's interest expense for loans was $12,580,000.
    Interaudi Bank's payroll and benefits expense were $20,674,000.
    Interaudi Bank's property, plant and equipment expenses $3,358,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $1,873,415
    Deposits held in domestic offices $1,873,415
    Deposits by Individuals, partnerships, and corporations $1,855,127
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,458
    Deposits by Commercial banks and other depository institutions in U.S. $830
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,078,636
    Demand deposits $951,347
    Nontransaction accounts $794,779
    Money market deposit accounts (MMDAs) $26,957
    Other savings deposits (excluding MMDAs) $21,212
    Total time deposits $746,610
    Total time and savings deposits $922,068
    Noninterest-bearing deposits $910,282
    Interest-bearing deposits $963,133
    Retail deposits $1,157,751
    IRAs and Keogh plan accounts $3,939
    Brokered deposits $64,006
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,189,801
    Cash & Balances due from depository institutions $769,237
    Interest-bearing balances $758,594
    Total securities $439,287
    Federal funds sold & reverse repurchase $0
    Net loans and leases $957,988
    Loan and leases loss allowance $6,667
    Trading account assets $0
    Bank premises and fixed assets $3,464
    Other real estate owned $440
    Goodwill and other intangibles $0
    All other assets $19,385

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,189,801
    Total Liabilities $2,005,902
    Total deposits $1,873,415
    Interest-bearing deposits $963,133
    Deposits held in domestic offices $1,873,415
    % insured (estimated) $47
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $128,000
    Subordinated debt $0
    All other liabilities $4,487

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $957,988
    Loan and leases loss allowance $6,667
    Total loans and leases (domestic) $964,655
    All real estate loans $778,085
    Real estate loans in domestic offices $778,085
    Construction and development loans $83,536
    Residential 1-4 family construction $14,531
    Other construction, all land development and other land $69,005
    Loans secured by nonfarm nonresidential properties $214,310
    Nonfarm nonresidential secured by owner-occupied properties $42,938
    Commercial real estate & other non-farm, non-residential $171,372
    Multifamily residential real estate $45,720
    1-4 family residential loans $434,117
    Farmland loans $402
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $176,038
    To non-U.S. addressees $42,824
    Loans to individuals $4,928
    Credit card loans $415
    Related Plans $11
    Consumer Auto Loans $0
    Other loans to individuals $4,502
    All other loans & leases $8,660
    Loans to foreign governments and official institutions $0
    Other loans $8,660
    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 $36,174
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Interaudi Bank had $957,988,000 of loans outstanding in 2020. $778,085,000 of loans were in real estate loans. $83,536,000 of loans were in development loans. $45,720,000 of loans were in multifamily mortgage loans. $434,117,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $415,000 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 59 $29,237 $495,542
    Nonfarm, nonresidential loans - $100-250k 7 $1,182 $168,857
    Nonfarm, nonresidential loans - $250k-1MM 52 $28,055 $539,519
    Commercial & Industrial, US addressed loans - <$1MM 195 $28,953 $148,477
    Commercial & Industrial, US addressed loans - <$100k 119 $2,705 $22,731
    Commercial & Industrial, US addressed loans - $100-250k 34 $4,987 $146,676
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $21,261 $506,214
    Farmland loans - <$1MM 1 $402 $402,000
    Farmland loans - $250k-1MM 1 $402 $402,000