Bay Valley Mortgage Group Dba Pacific Bay Lending Group

HAYWARD, CA 94541

LEI: 54930002O9LLXKR6TF11

Tax ID: 94-3169132

2019 Data | 2018 Data


Overview

Bay Valley Mortgage Group Dba Pacific Bay Lending Group is a small mortgage company specializing in Home Purchase and Refi loans. Bay Valley Mortgage Group Dba Pacific Bay Lending Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Los Angeles, Riverside, Anaheim, Las Vegas, and San Jose among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Bay Valley Mortgage Group Dba Pacific Bay Lending Group is typically a medium-low fee exceptionally high fee lendor.


Originations

4,689

Origination Dollar Volume (All Markets)

$1,721,575,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 3,138 $1,208,900,000 $385,245
FHA 1,422 $459,250,000 $322,961
VA 129 $53,425,000 $414,147

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 1,697 $657,185,000 $387,263
Home Improvement 2 $590,000 $295,000
Other 1 $135,000 $135,000
NA 1 $35,000 $35,000
Refi 2,779 $995,595,000 $358,257
Cash Out Refi 209 $68,035,000 $325,526

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,607 $668,915,000 $416,251
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,035 $326,655,000 $315,609
ANAHEIM-SANTA ANA-IRVINE, CA 632 $283,660,000 $448,829
LAS VEGAS-HENDERSON-PARADISE, NV 242 $64,040,000 $264,628
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 87 $48,225,000 $554,310
OAKLAND-BERKELEY-LIVERMORE, CA 89 $41,435,000 $465,562
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 79 $34,165,000 $432,468
SACRAMENTO-ROSEVILLE-FOLSOM, CA 48 $15,530,000 $323,542
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 23 $15,355,000 $667,609
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 49 $12,765,000 $260,510
OXNARD-THOUSAND OAKS-VENTURA, CA 28 $12,550,000 $448,214
PHOENIX-MESA-CHANDLER, AZ 50 $11,800,000 $236,000
Outside of Metro Areas 50 $11,690,000 $233,800
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 41 $8,925,000 $217,683
STOCKTON, CA 29 $8,555,000 $295,000
FRESNO, CA 41 $8,495,000 $207,195
SALINAS, CA 16 $7,750,000 $484,375
RENO, NV 26 $7,140,000 $274,615
DENVER-AURORA-LAKEWOOD, CO 24 $7,080,000 $295,000
BAKERSFIELD, CA 30 $7,010,000 $233,667
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 28 $6,940,000 $247,857
SEATTLE-BELLEVUE-KENT, WA 18 $6,650,000 $369,444
ANCHORAGE, AK 21 $5,555,000 $264,524
DALLAS-PLANO-IRVING, TX 15 $4,695,000 $313,000
SANTA MARIA-SANTA BARBARA, CA 12 $4,160,000 $346,667
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 14 $3,770,000 $269,286
COLORADO SPRINGS, CO 16 $3,660,000 $228,750
VALLEJO, CA 10 $3,650,000 $365,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 12 $3,460,000 $288,333
MEMPHIS, TN-MS-AR 17 $3,255,000 $191,471
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 11 $3,235,000 $294,091
TACOMA-LAKEWOOD, WA 11 $3,005,000 $273,182
CHICAGO-NAPERVILLE-EVANSTON, IL 10 $2,700,000 $270,000
ORLANDO-KISSIMMEE-SANFORD, FL 11 $2,485,000 $225,909
CHARLOTTE-CONCORD-GASTONIA, NC-SC 10 $2,390,000 $239,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 8 $2,270,000 $283,750
MILWAUKEE-WAUKESHA, WI 11 $2,195,000 $199,545
MODESTO, CA 8 $2,020,000 $252,500
RALEIGH-CARY, NC 7 $1,915,000 $273,571
AUSTIN-ROUND ROCK-GEORGETOWN, TX 8 $1,880,000 $235,000
KNOXVILLE, TN 9 $1,875,000 $208,333
BREMERTON-SILVERDALE-PORT ORCHARD, WA 5 $1,855,000 $371,000
MADERA, CA 6 $1,720,000 $286,667
SANTA CRUZ-WATSONVILLE, CA 3 $1,715,000 $571,667
SPOKANE-SPOKANE VALLEY, WA 6 $1,440,000 $240,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 6 $1,290,000 $215,000
BOISE CITY, ID 4 $1,210,000 $302,500
VISALIA, CA 5 $1,195,000 $239,000
SANTA ROSA-PETALUMA, CA 3 $1,155,000 $385,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 5 $1,145,000 $229,000
NORTH PORT-SARASOTA-BRADENTON, FL 4 $1,140,000 $285,000
BIRMINGHAM-HOOVER, AL 5 $1,125,000 $225,000
OGDEN-CLEARFIELD, UT 4 $1,070,000 $267,500
WARREN-TROY-FARMINGTON HILLS, MI 5 $1,055,000 $211,000
SALEM, OR 4 $1,030,000 $257,500
SAN RAFAEL, CA 2 $1,000,000 $500,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 4 $980,000 $245,000
SAN ANTONIO-NEW BRAUNFELS, TX 3 $845,000 $281,667
DETROIT-DEARBORN-LIVONIA, MI 5 $845,000 $169,000
RACINE, WI 4 $830,000 $207,500
GREENVILLE-ANDERSON, SC 4 $830,000 $207,500
FORT COLLINS, CO 2 $790,000 $395,000
CHATTANOOGA, TN-GA 4 $770,000 $192,500
MIAMI-MIAMI BEACH-KENDALL, FL 3 $765,000 $255,000
CARSON CITY, NV 3 $695,000 $231,667
MADISON, WI 4 $680,000 $170,000
OLYMPIA-LACEY-TUMWATER, WA 3 $675,000 $225,000
GREELEY, CO 3 $665,000 $221,667
CHARLESTON-NORTH CHARLESTON, SC 3 $645,000 $215,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2 $630,000 $315,000
FAIRBANKS, AK 2 $600,000 $300,000
TUCSON, AZ 3 $575,000 $191,667
JANESVILLE-BELOIT, WI 3 $565,000 $188,333
EAU CLAIRE, WI 2 $550,000 $275,000
KILLEEN-TEMPLE, TX 2 $550,000 $275,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 2 $530,000 $265,000
BOULDER, CO 2 $470,000 $235,000
MERCED, CA 2 $460,000 $230,000
CHICO, CA 1 $455,000 $455,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 2 $450,000 $225,000
LAKE HAVASU CITY-KINGMAN, AZ 2 $420,000 $210,000
DULUTH, MN-WI 1 $415,000 $415,000
GRAND JUNCTION, CO 2 $400,000 $200,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 1 $395,000 $395,000
ST. GEORGE, UT 1 $395,000 $395,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $390,000 $195,000
CLEVELAND, TN 2 $390,000 $195,000
BEND, OR 1 $385,000 $385,000
PUEBLO, CO 2 $370,000 $185,000
Outside of Metro Areas 2 $360,000 $180,000
LAKELAND-WINTER HAVEN, FL 2 $350,000 $175,000
CAPE CORAL-FORT MYERS, FL 1 $325,000 $325,000
OSHKOSH-NEENAH, WI 2 $320,000 $160,000
PROVIDENCE-WARWICK, RI-MA 1 $305,000 $305,000
PROVO-OREM, UT 1 $305,000 $305,000
HAGERSTOWN-MARTINSBURG, MD-WV 1 $295,000 $295,000
FLAGSTAFF, AZ 1 $295,000 $295,000
COLUMBUS, GA-AL 1 $285,000 $285,000
HANFORD-CORCORAN, CA 1 $275,000 $275,000
FARGO, ND-MN 1 $265,000 $265,000
BRIDGEPORT-STAMFORD-NORWALK, CT 1 $255,000 $255,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $245,000 $245,000
SAVANNAH, GA 1 $235,000 $235,000
MACON-BIBB COUNTY, GA 1 $225,000 $225,000
EUGENE-SPRINGFIELD, OR 1 $225,000 $225,000
THE VILLAGES, FL 1 $225,000 $225,000
DAPHNE-FAIRHOPE-FOLEY, AL 1 $215,000 $215,000
OMAHA-COUNCIL BLUFFS, NE-IA 1 $215,000 $215,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $215,000 $215,000
GAINESVILLE, FL 1 $205,000 $205,000
RICHMOND, VA 1 $205,000 $205,000
EL CENTRO, CA 1 $205,000 $205,000
LINCOLN, NE 1 $195,000 $195,000
ROCHESTER, MN 1 $195,000 $195,000
GREEN BAY, WI 1 $195,000 $195,000
NEW HAVEN-MILFORD, CT 1 $195,000 $195,000
KINGSPORT-BRISTOL, TN-VA 1 $185,000 $185,000
HILTON HEAD ISLAND-BLUFFTON, SC 1 $185,000 $185,000
JACKSON, MI 1 $185,000 $185,000
SHEBOYGAN, WI 1 $175,000 $175,000
KENNEWICK-RICHLAND, WA 1 $175,000 $175,000
FOND DU LAC, WI 1 $175,000 $175,000
SPARTANBURG, SC 1 $165,000 $165,000
PRESCOTT VALLEY-PRESCOTT, AZ 1 $165,000 $165,000
FAYETTEVILLE, NC 1 $165,000 $165,000
COLUMBIA, SC 1 $165,000 $165,000
WILMINGTON, NC 1 $155,000 $155,000
SALISBURY, MD-DE 1 $155,000 $155,000
CALIFORNIA-LEXINGTON PARK, MD 1 $155,000 $155,000
JACKSONVILLE, FL 1 $155,000 $155,000
YUMA, AZ 1 $115,000 $115,000
NILES, MI 1 $105,000 $105,000
GREENSBORO-HIGH POINT, NC 1 $105,000 $105,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 2 $430,000 $215,000
2.5-3% 39 $12,795,000 $328,077
3-4% 2,289 $835,615,000 $365,057
4-5% 1,908 $704,020,000 $368,983
5-6% 391 $145,225,000 $371,419
6-7% 33 $11,265,000 $341,364
7-8% 10 $4,750,000 $475,000
Over 8% 17 $7,475,000 $439,706

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 20 $880,000 $44,000
$100k-200k 509 $83,795,000 $164,627
$200k-400k 2,416 $720,380,000 $298,171
$400k-600k 1,383 $652,135,000 $471,537
$600k-1000k 341 $235,245,000 $689,868
$Over $1MM 20 $29,140,000 $1,457,000

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 200 $53,880,000 $269,400
40-60% 698 $254,650,000 $364,828
60-80% 1,884 $734,920,000 $390,085
80-100% 1,843 $664,045,000 $360,307
Over 100% 8 $3,440,000 $430,000
Under 20% 43 $6,045,000 $140,581

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,202 $510,950,000 $425,083
$150k-250k 605 $287,285,000 $474,851
$50k-75k 1,010 $277,480,000 $274,733
$50k-or less 525 $133,565,000 $254,410
$75k-100k 1,056 $366,500,000 $347,064
$Over $250k 182 $109,350,000 $600,824

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 2,969 $1,014,625,000 $341,740
Asian 1,468 $620,980,000 $423,011
Black 151 $50,475,000 $334,272
Not provided 63 $19,145,000 $303,889
Native Hawaiian 13 $6,535,000 $502,692
American Indian 17 $6,375,000 $375,000
Vietnamese 3 $1,435,000 $478,333
Filipino 3 $1,095,000 $365,000
Korean 1 $535,000 $535,000
Not applicable 1 $375,000 $375,000

Approval Rates

Total approvals of all applications
96.77%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
17.11%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 4,689 $1,721,575,000 $367,152

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 570 $201,120,000 $352,842
$1k-2k 1,302 $500,590,000 $384,478
$2k-3k 588 $214,080,000 $364,082
$3k-4k 829 $247,945,000 $299,089
$5k+ 1,369 $551,115,000 $402,568

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Site-Built 4,689 $1,721,575,000 $367,152