Leaderone Financial Corp.

Overland Park, KS 66210

LEI: 5493000NYUJT9UC6G261

Tax ID: 48-1148159

2019 Data | 2018 Data


Overview

Leaderone Financial Corp. is a small mortgage company specializing in Home Purchase and Refi loans. Leaderone Financial Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Minneapolis, Kansas City, Las Vegas, Denver, and Phoenix among others. They have an 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. Leaderone Financial Corp. is typically a medium-low fee lendor.


Originations

11,662

Origination Dollar Volume (All Markets)

$2,582,270,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,339 $1,700,215,000 $231,668
FHA 3,094 $600,560,000 $194,105
VA 989 $245,495,000 $248,225
USDA 240 $36,000,000 $150,000

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 8,330 $1,724,290,000 $206,998
Refi 1,944 $523,990,000 $269,542
Cash Out Refi 1,388 $333,990,000 $240,627

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1,957 $495,595,000 $253,242
KANSAS CITY, MO-KS 1,244 $225,190,000 $181,021
LAS VEGAS-HENDERSON-PARADISE, NV 707 $191,325,000 $270,615
Outside of Metro Areas 1,103 $184,935,000 $167,665
DENVER-AURORA-LAKEWOOD, CO 434 $137,710,000 $317,304
PHOENIX-MESA-CHANDLER, AZ 570 $133,290,000 $233,842
SEATTLE-BELLEVUE-KENT, WA 310 $112,720,000 $363,613
CHICAGO-NAPERVILLE-EVANSTON, IL 517 $103,305,000 $199,816
WICHITA, KS 507 $73,235,000 $144,448
SPOKANE-SPOKANE VALLEY, WA 265 $59,665,000 $225,151
DALLAS-PLANO-IRVING, TX 209 $55,595,000 $266,005
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 189 $54,195,000 $286,746
ST. LOUIS, MO-IL 234 $44,560,000 $190,427
TACOMA-LAKEWOOD, WA 138 $42,550,000 $308,333
COLORADO SPRINGS, CO 159 $39,755,000 $250,031
PROVO-OREM, UT 127 $37,455,000 $294,921
MILWAUKEE-WAUKESHA, WI 168 $33,930,000 $201,964
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 116 $30,350,000 $261,638
MANCHESTER-NASHUA, NH 102 $27,150,000 $266,176
KILLEEN-TEMPLE, TX 158 $25,530,000 $161,582
EAU CLAIRE, WI 169 $19,875,000 $117,604
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 101 $19,085,000 $188,960
GARY, IN 120 $18,830,000 $156,917
GREELEY, CO 55 $17,795,000 $323,545
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 77 $17,215,000 $223,571
LAKE COUNTY-KENOSHA COUNTY, IL-WI 107 $16,765,000 $156,682
FORT WORTH-ARLINGTON-GRAPEVINE, TX 75 $15,705,000 $209,400
BANGOR, ME 80 $13,420,000 $167,750
PEORIA, IL 121 $13,195,000 $109,050
KOKOMO, IN 88 $12,950,000 $147,159
SPRINGFIELD, IL 96 $12,540,000 $130,625
ELGIN, IL 72 $11,760,000 $163,333
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 60 $9,770,000 $162,833
OLYMPIA-LACEY-TUMWATER, WA 35 $9,665,000 $276,143
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 44 $9,100,000 $206,818
PORTLAND-SOUTH PORTLAND, ME 35 $8,255,000 $235,857
MOUNT VERNON-ANACORTES, WA 25 $7,755,000 $310,200
BIRMINGHAM-HOOVER, AL 48 $7,680,000 $160,000
LOS ANGELES-LONG BEACH-GLENDALE, CA 16 $6,990,000 $436,875
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 26 $6,540,000 $251,538
BOULDER, CO 17 $6,295,000 $370,294
SALT LAKE CITY, UT 22 $6,250,000 $284,091
AUSTIN-ROUND ROCK-GEORGETOWN, TX 21 $6,085,000 $289,762
LOUISVILLE/JEFFERSON COUNTY, KY-IN 30 $5,760,000 $192,000
SAN ANTONIO-NEW BRAUNFELS, TX 26 $5,670,000 $218,077
LAREDO, TX 31 $5,555,000 $179,194
INDIANAPOLIS-CARMEL-ANDERSON, IN 32 $5,490,000 $171,563
OGDEN-CLEARFIELD, UT 18 $5,370,000 $298,333
ST. CLOUD, MN 31 $5,315,000 $171,452
PHILADELPHIA, PA 25 $5,305,000 $212,200
SAN ANGELO, TX 26 $4,970,000 $191,154
ORLANDO-KISSIMMEE-SANFORD, FL 16 $4,920,000 $307,500
ST. JOSEPH, MO-KS 35 $4,855,000 $138,714
FORT COLLINS, CO 14 $4,730,000 $337,857
BREMERTON-SILVERDALE-PORT ORCHARD, WA 14 $4,650,000 $332,143
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 14 $4,350,000 $310,714
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 12 $3,790,000 $315,833
RACINE, WI 18 $3,480,000 $193,333
COEUR D'ALENE, ID 13 $3,105,000 $238,846
BELLINGHAM, WA 9 $3,045,000 $338,333
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 7 $2,775,000 $396,429
WILMINGTON, DE-MD-NJ 11 $2,715,000 $246,818
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 10 $2,550,000 $255,000
BOSTON, MA 8 $2,540,000 $317,500
FLAGSTAFF, AZ 8 $2,440,000 $305,000
MANHATTAN, KS 13 $2,345,000 $180,385
OXNARD-THOUSAND OAKS-VENTURA, CA 5 $2,265,000 $453,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 7 $2,165,000 $309,286
ROCHESTER, MN 9 $2,135,000 $237,222
LAWRENCE, KS 12 $2,120,000 $176,667
JANESVILLE-BELOIT, WI 12 $1,990,000 $165,833
DULUTH, MN-WI 11 $1,985,000 $180,455
ANAHEIM-SANTA ANA-IRVINE, CA 4 $1,980,000 $495,000
TUCSON, AZ 10 $1,930,000 $193,000
SPRINGFIELD, MO 12 $1,850,000 $154,167
MIAMI-MIAMI BEACH-KENDALL, FL 6 $1,830,000 $305,000
MCALLEN-EDINBURG-MISSION, TX 10 $1,800,000 $180,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 6 $1,770,000 $295,000
COLUMBUS, OH 6 $1,690,000 $281,667
PRESCOTT VALLEY-PRESCOTT, AZ 6 $1,660,000 $276,667
NEW BRUNSWICK-LAKEWOOD, NJ 5 $1,645,000 $329,000
ST. GEORGE, UT 5 $1,615,000 $323,000
BEAUMONT-PORT ARTHUR, TX 9 $1,545,000 $171,667
SALEM, OR 9 $1,515,000 $168,333
ODESSA, TX 7 $1,475,000 $210,714
LEWISTON-AUBURN, ME 11 $1,465,000 $133,182
WENATCHEE, WA 5 $1,445,000 $289,000
OCALA, FL 5 $1,375,000 $275,000
GRAND RAPIDS-KENTWOOD, MI 3 $1,335,000 $445,000
CAMDEN, NJ 5 $1,315,000 $263,000
JACKSONVILLE, FL 7 $1,295,000 $185,000
BOISE CITY, ID 4 $1,280,000 $320,000
CAPE CORAL-FORT MYERS, FL 6 $1,270,000 $211,667
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 4 $1,260,000 $315,000
CORPUS CHRISTI, TX 8 $1,250,000 $156,250
TYLER, TX 7 $1,215,000 $173,571
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 4 $1,170,000 $292,500
WACO, TX 5 $1,125,000 $225,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 4 $1,110,000 $277,500
MADISON, WI 4 $1,090,000 $272,500
KENNEWICK-RICHLAND, WA 4 $1,080,000 $270,000
TUSCALOOSA, AL 9 $1,075,000 $119,444
NORTH PORT-SARASOTA-BRADENTON, FL 4 $1,050,000 $262,500
WARREN-TROY-FARMINGTON HILLS, MI 4 $1,040,000 $260,000
MICHIGAN CITY-LA PORTE, IN 6 $1,000,000 $166,667
WAUSAU-WESTON, WI 5 $975,000 $195,000
DAPHNE-FAIRHOPE-FOLEY, AL 7 $895,000 $127,857
TOPEKA, KS 5 $835,000 $167,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 2 $820,000 $410,000
MANKATO, MN 4 $810,000 $202,500
ATHENS-CLARKE COUNTY, GA 3 $805,000 $268,333
LONGVIEW, TX 4 $800,000 $200,000
SPRINGFIELD, MA 3 $795,000 $265,000
PENSACOLA-FERRY PASS-BRENT, FL 4 $780,000 $195,000
MIDLAND, TX 3 $755,000 $251,667
VALLEJO, CA 2 $720,000 $360,000
FLORENCE-MUSCLE SHOALS, AL 6 $710,000 $118,333
SHERMAN-DENISON, TX 4 $700,000 $175,000
NILES, MI 2 $690,000 $345,000
WICHITA FALLS, TX 4 $660,000 $165,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 3 $645,000 $215,000
COLLEGE STATION-BRYAN, TX 3 $615,000 $205,000
WORCESTER, MA-CT 3 $615,000 $205,000
GREEN BAY, WI 3 $605,000 $201,667
LONGVIEW, WA 2 $600,000 $300,000
FLINT, MI 4 $600,000 $150,000
ANN ARBOR, MI 2 $600,000 $300,000
ROCKFORD, IL 4 $600,000 $150,000
KINGSPORT-BRISTOL, TN-VA 3 $595,000 $198,333
MOBILE, AL 3 $585,000 $195,000
ABILENE, TX 2 $570,000 $285,000
LAKELAND-WINTER HAVEN, FL 3 $565,000 $188,333
JOPLIN, MO 7 $555,000 $79,286
CARBONDALE-MARION, IL 3 $545,000 $181,667
DETROIT-DEARBORN-LIVONIA, MI 5 $545,000 $109,000
BLOOMINGTON, IL 3 $535,000 $178,333
PUNTA GORDA, FL 3 $535,000 $178,333
CHARLOTTE-CONCORD-GASTONIA, NC-SC 2 $530,000 $265,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 3 $515,000 $171,667
PUEBLO, CO 3 $515,000 $171,667
PITTSBURGH, PA 2 $500,000 $250,000
KANKAKEE, IL 3 $485,000 $161,667
SALISBURY, MD-DE 2 $470,000 $235,000
NEWARK, NJ-PA 4 $460,000 $115,000
TULSA, OK 2 $430,000 $215,000
LANCASTER, PA 3 $425,000 $141,667
BRIDGEPORT-STAMFORD-NORWALK, CT 3 $425,000 $141,667
ELKHART-GOSHEN, IN 1 $425,000 $425,000
ROANOKE, VA 1 $415,000 $415,000
LUBBOCK, TX 3 $415,000 $138,333
RICHMOND, VA 2 $400,000 $200,000
ALBUQUERQUE, NM 1 $395,000 $395,000
TEXARKANA, TX-AR 3 $385,000 $128,333
OSHKOSH-NEENAH, WI 2 $380,000 $190,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 1 $375,000 $375,000
COLUMBIA, MO 3 $375,000 $125,000
KALAMAZOO-PORTAGE, MI 2 $350,000 $175,000
ERIE, PA 4 $350,000 $87,500
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $345,000 $345,000
DALTON, GA 2 $330,000 $165,000
AUBURN-OPELIKA, AL 1 $325,000 $325,000
BARNSTABLE TOWN, MA 1 $325,000 $325,000
BEND, OR 1 $325,000 $325,000
MIDLAND, MI 2 $320,000 $160,000
FARGO, ND-MN 1 $315,000 $315,000
LOGAN, UT-ID 1 $315,000 $315,000
READING, PA 2 $310,000 $155,000
GAINESVILLE, FL 1 $305,000 $305,000
CHATTANOOGA, TN-GA 2 $300,000 $150,000
NAPLES-MARCO ISLAND, FL 2 $300,000 $150,000
LAKE HAVASU CITY-KINGMAN, AZ 3 $295,000 $98,333
FOND DU LAC, WI 2 $290,000 $145,000
CLARKSVILLE, TN-KY 2 $290,000 $145,000
OAKLAND-BERKELEY-LIVERMORE, CA 1 $285,000 $285,000
AMARILLO, TX 2 $280,000 $140,000
STOCKTON, CA 1 $275,000 $275,000
MORRISTOWN, TN 2 $270,000 $135,000
BROWNSVILLE-HARLINGEN, TX 2 $270,000 $135,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $265,000 $265,000
COLUMBIA, SC 1 $265,000 $265,000
EAST STROUDSBURG, PA 2 $260,000 $130,000
SOUTH BEND-MISHAWAKA, IN-MI 2 $250,000 $125,000
GRAND FORKS, ND-MN 1 $245,000 $245,000
SHREVEPORT-BOSSIER CITY, LA 1 $245,000 $245,000
DOVER, DE 1 $235,000 $235,000
FORT SMITH, AR-OK 1 $235,000 $235,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $235,000 $235,000
WALLA WALLA, WA 1 $235,000 $235,000
PANAMA CITY, FL 1 $225,000 $225,000
BLOOMINGTON, IN 1 $225,000 $225,000
HOMOSASSA SPRINGS, FL 2 $220,000 $110,000
EL PASO, TX 1 $215,000 $215,000
LANSING-EAST LANSING, MI 1 $215,000 $215,000
FRESNO, CA 1 $215,000 $215,000
LYNCHBURG, VA 1 $205,000 $205,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 1 $205,000 $205,000
VISALIA, CA 1 $205,000 $205,000
GREENVILLE-ANDERSON, SC 1 $195,000 $195,000
COLUMBUS, GA-AL 1 $185,000 $185,000
THE VILLAGES, FL 1 $185,000 $185,000
GADSDEN, AL 1 $165,000 $165,000
VALDOSTA, GA 1 $165,000 $165,000
TALLAHASSEE, FL 1 $165,000 $165,000
YORK-HANOVER, PA 1 $155,000 $155,000
JOHNSON CITY, TN 1 $155,000 $155,000
KNOXVILLE, TN 1 $155,000 $155,000
VICTORIA, TX 1 $145,000 $145,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $145,000 $145,000
DOTHAN, AL 1 $135,000 $135,000
SEBASTIAN-VERO BEACH, FL 1 $135,000 $135,000
LEXINGTON-FAYETTE, KY 1 $135,000 $135,000
NEW ORLEANS-METAIRIE, LA 1 $135,000 $135,000
LEWISTON, ID-WA 1 $135,000 $135,000
OKLAHOMA CITY, OK 2 $130,000 $65,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $125,000 $125,000
JONESBORO, AR 1 $125,000 $125,000
OMAHA-COUNCIL BLUFFS, NE-IA 1 $125,000 $125,000
SPARTANBURG, SC 1 $125,000 $125,000
DECATUR, IL 1 $125,000 $125,000
WARNER ROBINS, GA 1 $115,000 $115,000
CHAMBERSBURG-WAYNESBORO, PA 1 $115,000 $115,000
CINCINNATI, OH-KY-IN 1 $115,000 $115,000
CAPE GIRARDEAU, MO-IL 1 $115,000 $115,000
ELIZABETHTOWN-FORT KNOX, KY 1 $115,000 $115,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $115,000 $115,000
FLORENCE, SC 1 $105,000 $105,000
SHEBOYGAN, WI 1 $95,000 $95,000
EVANSVILLE, IN-KY 2 $90,000 $45,000
TOLEDO, OH 1 $85,000 $85,000
JEFFERSON CITY, MO 1 $85,000 $85,000
BOWLING GREEN, KY 2 $80,000 $40,000
HUNTSVILLE, AL 1 $75,000 $75,000
ATLANTIC CITY-HAMMONTON, NJ 1 $75,000 $75,000

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% 378 $2,470,000 $6,534
2.5-3% 15 $4,935,000 $329,000
3-4% 4,454 $1,121,380,000 $251,769
4-5% 5,271 $1,167,655,000 $221,524
5-6% 1,486 $276,360,000 $185,976
6-7% 45 $8,685,000 $193,000
7-8% 12 $670,000 $55,833
Over 8% 1 $115,000 $115,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,438 $76,260,000 $53,032
$100k-200k 4,132 $636,350,000 $154,005
$200k-400k 5,147 $1,422,205,000 $276,317
$400k-600k 878 $399,730,000 $455,273
$600k-1000k 66 $46,560,000 $705,455
$Over $1MM 1 $1,165,000 $1,165,000

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% 156 $23,640,000 $151,538
40-60% 530 $117,790,000 $222,245
60-80% 2,652 $673,050,000 $253,790
80-100% 7,600 $1,711,880,000 $225,247
Over 100% 193 $49,855,000 $258,316
Under 20% 527 $4,985,000 $9,459

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 2,138 $599,910,000 $280,594
$150k-250k 1,044 $353,990,000 $339,071
$50k-75k 3,367 $629,955,000 $187,097
$50k-or less 2,356 $303,030,000 $128,621
$75k-100k 2,239 $522,705,000 $233,455
$Over $250k 264 $107,050,000 $405,492

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 9,897 $2,200,965,000 $222,387
Black 694 $140,520,000 $202,478
Not provided 659 $138,305,000 $209,871
Asian 292 $74,760,000 $256,027
American Indian 68 $14,570,000 $214,265
Native Hawaiian 41 $10,205,000 $248,902
Other Asian 4 $1,280,000 $320,000
Other Pacific Islander 2 $770,000 $385,000
Asian Indian 2 $420,000 $210,000
Filipino 2 $390,000 $195,000
Samoan 1 $85,000 $85,000

Approval Rates

Total approvals of all applications
88.21%

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
71.45%

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
1608.0 1 $155,000 $155,000
2718.5 1 $95,000 $95,000
NA 11,660 $2,582,020,000 $221,443

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,521 $313,195,000 $205,914
$1k-2k 5,385 $1,199,085,000 $222,671
$2k-3k 1,688 $370,490,000 $219,485
$3k-4k 1,338 $340,890,000 $254,776
$5k+ 431 $149,635,000 $347,181

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):Manufactured 145 $23,275,000 $160,517
Single Family (1-4 Units):Site-Built 11,517 $2,558,995,000 $222,193