Broadway Federal Bank F.s.b. Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 5493000FL80UZ5NK7M09

Tax ID: 95-1520055

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Broadway Federal Bank F.s.b. is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Broadway Federal Bank F.s.b. has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and San Diego among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Broadway Federal Bank F.s.b. has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have about average rates.

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    Originations

    87

    Origination Dollar Volume (All Markets)

    $96,175,000

    Employee count

    63

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 79 $86,555,000 $1,095,633 $0 4.44%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $5,045,000 $1,681,667 $0 4.33%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $4,575,000 $915,000 $0 4.61%
    Broadway Federal Bank F.s.b.'s top markets include Los Angeles, Riverside, and San Diego among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $96,175,000 $1,105,460 $0 4.44%

    For 2018, Broadway Federal Bank F.s.b.'s most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $51,280,000 $1,220,952 $0 4.38%
    Cash Out Refi 40 $40,910,000 $1,022,750 $0 4.49%
    Refi 5 $3,985,000 $797,000 $0 4.65%

    For 2018, Broadway Federal Bank F.s.b.'s most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 87 $96,175,000 $1,105,460 $0 4.44%

    For 2018, Broadway Federal Bank F.s.b.'s most frequently cited loan duration was 30 Year, with 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 73 $83,545,000 $1,144,452
    3-4% 7 $9,645,000 $1,377,857
    5-6% 7 $2,985,000 $426,429

    During 2018, Broadway Federal Bank F.s.b.'s average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 33 $60,045,000 $1,819,545 $0 4.37%
    $600k-1MM 33 $26,495,000 $802,879 $0 4.34%
    $400k-600k 16 $8,300,000 $518,750 $0 4.63%
    $200k-400k 5 $1,335,000 $267,000 $0 5.04%

    2018 saw Broadway Federal Bank F.s.b. place emphasis on $1MM+ loans with 33 originations, totaling $60,045,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 72 $83,600,000 $1,161,111 $0 4.42%
    Not provided 8 $6,900,000 $862,500 $0 4.40%
    White 4 $4,490,000 $1,122,500 $0 4.45%
    Black 3 $1,185,000 $395,000 $0 5.04%

    Approval Rates

    Total approvals of all applications
    94.68%

    Broadway Federal Bank F.s.b. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.85%

    Broadway Federal Bank F.s.b. has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 87 $96,175,000 $1,105,460

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 87 $96,175,000 $1,105,460

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $4,840,000 $484,000 $0 4.67%
    40-60% 37 $41,125,000 $1,111,486 $0 4.48%
    60-80% 39 $49,995,000 $1,281,923 $0 4.33%
    Under 20% 1 $215,000 $215,000 $0 4.90%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Broadway Federal Bank, f.s.b. 170 North Market Street Inglewood, CA 90301 Full Service B&M $151,345
    Broadway Federal Bank, f.s.b. 4001 South Figueroa Street Los Angeles, CA 90037 Full Service B&M $51,532
    Broadway Federal Bank, f.s.b. 5055 Wilshire Boulevard, Ste 100 Los Angeles, CA 90036 Full Service B&M $71,206

    For 2018, Broadway Federal Bank F.s.b. had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,238
    Net interest income $10,551
    Total noninterest income $797
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $225
    Trading account gains and fees $0
    Additional Noninterest Income $572
    Pre-tax net operating income $1,557
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,297
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,297
    Minority interest net income $0
    Net income $1,297
    Sale, conversion, retirement of capital stock, net $132
    Net operating income $1,297

    Broadway Federal Bank F.s.b.'s gross interest income from loans was $15,238,000.
    Broadway Federal Bank F.s.b.'s net interest income from loans was $10,551,000.
    Broadway Federal Bank F.s.b.'s fee based income from loans was $225,000.
    Broadway Federal Bank F.s.b.'s net income from loans was $1,297,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,687
    Provision for credit losses $-1,254
    Total noninterest expense $11,045
    Salaries and employee benefits $6,748
    Premises and equipment expense $1,274
    Additional noninterest expense $3,023
    Applicable income taxes $260
    Net charge-offs $-114
    Cash dividends $600

    Broadway Federal Bank F.s.b.'s interest expense for loans was $4,687,000.
    Broadway Federal Bank F.s.b.'s payroll and benefits expense were $6,748,000.
    Broadway Federal Bank F.s.b.'s property, plant and equipment expenses $1,274,000.

    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 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $284,223
    Deposits held in domestic offices $284,223
    Deposits by Individuals, partnerships, and corporations $257,666
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21,863
    Deposits by Commercial banks and other depository institutions in U.S. $4,694
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $35,826
    Demand deposits $21,803
    Nontransaction accounts $248,397
    Money market deposit accounts (MMDAs) $29,947
    Other savings deposits (excluding MMDAs) $45,886
    Total time deposits $172,565
    Total time and savings deposits $262,420
    Noninterest-bearing deposits $25,517
    Interest-bearing deposits $258,706
    Retail deposits $223,724
    IRAs and Keogh plan accounts $4,832
    Brokered deposits $42,477
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $407,170
    Cash & Balances due from depository institutions $16,652
    Interest-bearing balances $15,572
    Total securities $14,722
    Federal funds sold & reverse repurchase $0
    Net loans and leases $361,787
    Loan and leases loss allowance $2,929
    Trading account assets $0
    Bank premises and fixed assets $2,242
    Other real estate owned $833
    Goodwill and other intangibles $18
    All other assets $10,916

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $407,170
    Total Liabilities $355,949
    Total deposits $284,223
    Interest-bearing deposits $258,706
    Deposits held in domestic offices $284,223
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $70,000
    Subordinated debt $0
    All other liabilities $1,726

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $361,787
    Loan and leases loss allowance $2,929
    Total loans and leases (domestic) $364,716
    All real estate loans $364,485
    Real estate loans in domestic offices $364,485
    Construction and development loans $1,871
    Residential 1-4 family construction $457
    Other construction, all land development and other land $1,414
    Loans secured by nonfarm nonresidential properties $30,896
    Nonfarm nonresidential secured by owner-occupied properties $26,109
    Commercial real estate & other non-farm, non-residential $4,787
    Multifamily residential real estate $239,541
    1-4 family residential loans $92,177
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $226
    To non-U.S. addressees $0
    Loans to individuals $4
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $4
    All other loans & leases $1
    Loans to foreign governments and official institutions $0
    Other loans $1
    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 $0
    Restructured Loans & leases $5,256
    Non 1-4 family restructured loans & leases $4,646
    Total loans and leases (foreign) $0

    Broadway Federal Bank f.s.b. had $361,787,000 of loans outstanding in 2018. $364,485,000 of loans were in real estate loans. $1,871,000 of loans were in development loans. $239,541,000 of loans were in multifamily mortgage loans. $92,177,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 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 57 $18,988 $333,123
    Nonfarm, nonresidential loans - $100-250k 11 $1,552 $141,091
    Nonfarm, nonresidential loans - $250k-1MM 46 $17,436 $379,043
    Commercial & Industrial, US addressed loans - <$1MM 2 $226 $113,000
    Commercial & Industrial, US addressed loans - <$100k 1 $64 $64,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $162 $162,000