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 Cash Out Refi and Home Purchase loans. Broadway Federal Bank F.s.b. has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Diego, and Riverside 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 average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    72

    Origination Dollar Volume (All Markets)

    $103,300,000

    Employee count

    64

    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) 57 $77,655,000 $1,362,368 $0 4.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 9 $15,195,000 $1,688,333 $0 4.01%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $10,450,000 $1,741,667 $0 3.86%
    Broadway Federal Bank F.s.b.'s top markets include Los Angeles, San Diego, and Riverside among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $103,300,000 $1,434,722 $0 3.99%

    For 2019, Broadway Federal Bank F.s.b.'s most frequently originated type of loan was Conventional, with 72 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 48 $59,140,000 $1,232,083 $0 4.06%
    Home Purchase 20 $40,210,000 $2,010,500 $0 3.81%
    Refi 4 $3,950,000 $987,500 $0 3.96%

    For 2019, Broadway Federal Bank F.s.b.'s most frequently cited loan purpose was Cash Out Refi, with 48 originations. The 2nd most popular reason was Home Purchase, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 72 $103,300,000 $1,434,722 $0 3.99%

    For 2019, Broadway Federal Bank F.s.b.'s most frequently cited loan duration was 30 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 1 $685,000 $685,000

    Broadway Federal Bank F.s.b.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 43 $69,505,000 $1,616,395
    4-5% 29 $33,795,000 $1,165,345

    During 2019, Broadway Federal Bank F.s.b.'s average interest rate for loans was 3.99%, while their most frequently originated rate bucket for loans was 3-4%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 36 $77,770,000 $2,160,278 $0 3.92%
    $600k-1MM 28 $21,470,000 $766,786 $0 4.04%
    $400k-600k 8 $4,060,000 $507,500 $0 4.11%

    2019 saw Broadway Federal Bank F.s.b. place emphasis on $1MM+ loans with 36 originations, totaling $77,770,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 60 $94,120,000 $1,568,667 $0 4.00%
    Not provided 7 $5,655,000 $807,857 $0 3.83%
    White 4 $3,020,000 $755,000 $0 4.03%
    Black 1 $505,000 $505,000 $0 4.28%

    Approval Rates

    Total approvals of all applications
    88.76%

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

    Pick Rate

    Approvals leading to origination
    91.67%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 72 $103,300,000 $1,434,722

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 72 $103,300,000 $1,434,722

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $8,600,000 $1,075,000 $0 4.41%
    40-60% 18 $16,600,000 $922,222 $0 3.88%
    60-80% 45 $77,495,000 $1,722,111 $0 3.95%
    Under 20% 1 $605,000 $605,000 $0 4.25%

    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 $173,160
    Broadway Federal Bank, f.s.b. 4001 South Figueroa Street Los Angeles, CA 90037 Full Service B&M $48,259
    Broadway Federal Bank, f.s.b. 5055 Wilshire Boulevard, Ste 100 Los Angeles, CA 90036 Full Service B&M $76,981

    For 2019, Broadway Federal Bank F.s.b. had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,847
    Net interest income $10,709
    Total noninterest income $1,018
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $262
    Trading account gains and fees $0
    Additional Noninterest Income $756
    Pre-tax net operating income $393
    Securities gains (or losses, -) $0
    Income before extraordinary items $459
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $459
    Minority interest net income $0
    Net income $459
    Sale, conversion, retirement of capital stock, net $304
    Net operating income $459

    Broadway Federal Bank F.s.b.'s gross interest income from loans was $16,847,000.
    Broadway Federal Bank F.s.b.'s net interest income from loans was $10,709,000.
    Broadway Federal Bank F.s.b.'s fee based income from loans was $262,000.
    Broadway Federal Bank F.s.b.'s net income from loans was $459,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,138
    Provision for credit losses $-7
    Total noninterest expense $11,341
    Salaries and employee benefits $7,035
    Premises and equipment expense $1,282
    Additional noninterest expense $3,024
    Applicable income taxes $-66
    Net charge-offs $-260
    Cash dividends $1,650

    Broadway Federal Bank F.s.b.'s interest expense for loans was $6,138,000.
    Broadway Federal Bank F.s.b.'s payroll and benefits expense were $7,035,000.
    Broadway Federal Bank F.s.b.'s property, plant and equipment expenses $1,282,000.

    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 1.0%
    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 $300,945
    Deposits held in domestic offices $300,945
    Deposits by Individuals, partnerships, and corporations $264,865
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $32,718
    Deposits by Commercial banks and other depository institutions in U.S. $3,362
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $39,930
    Demand deposits $21,660
    Nontransaction accounts $261,015
    Money market deposit accounts (MMDAs) $23,718
    Other savings deposits (excluding MMDAs) $47,063
    Total time deposits $190,235
    Total time and savings deposits $279,285
    Noninterest-bearing deposits $29,538
    Interest-bearing deposits $271,407
    Retail deposits $239,150
    IRAs and Keogh plan accounts $4,997
    Brokered deposits $40,695
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $438,033
    Cash & Balances due from depository institutions $15,566
    Interest-bearing balances $14,688
    Total securities $11,007
    Federal funds sold & reverse repurchase $0
    Net loans and leases $397,847
    Loan and leases loss allowance $3,182
    Trading account assets $0
    Bank premises and fixed assets $2,783
    Other real estate owned $0
    Goodwill and other intangibles $9
    All other assets $10,821

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $438,033
    Total Liabilities $387,439
    Total deposits $300,945
    Interest-bearing deposits $271,407
    Deposits held in domestic offices $300,945
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $84,000
    Subordinated debt $0
    All other liabilities $2,494

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $397,847
    Loan and leases loss allowance $3,182
    Total loans and leases (domestic) $401,029
    All real estate loans $400,745
    Real estate loans in domestic offices $400,745
    Construction and development loans $3,125
    Residential 1-4 family construction $741
    Other construction, all land development and other land $2,384
    Loans secured by nonfarm nonresidential properties $35,466
    Nonfarm nonresidential secured by owner-occupied properties $23,176
    Commercial real estate & other non-farm, non-residential $12,290
    Multifamily residential real estate $289,043
    1-4 family residential loans $73,111
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $263
    To non-U.S. addressees $0
    Loans to individuals $20
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $20
    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 $4,316
    Non 1-4 family restructured loans & leases $3,723
    Total loans and leases (foreign) $0

    Broadway Federal Bank f.s.b. had $397,847,000 of loans outstanding in 2019. $400,745,000 of loans were in real estate loans. $3,125,000 of loans were in development loans. $289,043,000 of loans were in multifamily mortgage loans. $73,111,000 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 52 $17,370 $334,038
    Nonfarm, nonresidential loans - $100-250k 11 $1,461 $132,818
    Nonfarm, nonresidential loans - $250k-1MM 41 $15,909 $388,024
    Commercial & Industrial, US addressed loans - <$1MM 2 $263 $131,500
    Commercial & Industrial, US addressed loans - $100-250k 1 $63 $63,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $200 $200,000