Community Development Bank Fsb Mortgage Rates, Fees & Info
Ogema, MNLEI: 5493000VPS85MJ8L5X04
Tax ID: 41-0455130
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Mortgage Data
Review & Overview
Community Development Bank Fsb is a smaller bank specializing in Home Purchase loans. Community Development Bank Fsb has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Grand Forks, Fergus Falls, and Brainerd among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Development Bank Fsb has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
36Origination Dollar Volume (All Markets)
$3,750,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 19 | $1,785,000 | $93,947 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 14 | $1,720,000 | $122,857 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $2,875,000 | $99,138 | $0 | 0.00% |
| USDA | 7 | $875,000 | $125,000 | $0 | 0.00% |
For 2018, Community Development Bank Fsb's most frequently originated type of loan was Conventional, with 29 originations. Their 2nd most popular type was USDA, with 7 originations.
Loan Reason
For 2018, Community Development Bank Fsb's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 36 | $3,750,000 | $104,167 | $0 | 0.00% |
For 2018, Community Development Bank Fsb's most frequently cited loan duration was Other, with 36 originations.
Loan Sizing
2018 saw Community Development Bank Fsb place emphasis on $100,000 or less loans with 18 originations, totaling $810,000 in origination value.
Applicant Income
Community Development Bank Fsb lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 36 | $3,750,000 | $104,167 | $0 | 0.00% |
Community Development Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.72%
Community Development Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination97.22%
Community Development Bank Fsb 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 |
|---|---|---|---|
| Exempt | 36 | $3,750,000 | $104,167 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $130,000 | $32,500 |
| Single Family (1-4 Units):Site-Built | 32 | $3,620,000 | $113,125 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Fund of New Jersey, Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |