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 Refi and Home Purchase loans. Community Development Bank Fsb has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Naples, North Port, St. Cloud, and Brainerd among others. We have data for 6 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 a below average pick rate when compared to similar lenders.
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Originations
32Origination Dollar Volume (All Markets)
$4,660,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $0 | 0.00% |
| Outside of Metro Areas | 17 | $1,185,000 | $69,706 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $4,485,000 | $144,677 | $0 | 0.00% |
| USDA | 1 | $175,000 | $175,000 | $0 | 0.00% |
For 2019, Community Development Bank Fsb's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Community Development Bank Fsb's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $4,660,000 | $145,625 | $0 | 0.00% |
For 2019, Community Development Bank Fsb's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2019 saw Community Development Bank Fsb place emphasis on $100,000 or less loans with 19 originations, totaling $765,000 in origination value.
Applicant Income
Community Development Bank Fsb lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $4,660,000 | $145,625 | $0 | 0.00% |
Community Development Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.31%
Community Development Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination65.63%
Community Development Bank Fsb has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $4,660,000 | $145,625 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $180,000 | $90,000 |
| Single Family (1-4 Units):Site-Built | 30 | $4,480,000 | $149,333 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| COMMUNITY BANK SYSTEM, INC. | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 20.0% |