Iserve Residential Lending Mortgage Rates, Fees & Info

PHOENIX, AZ

LEI: 54930015645SYPOM7220

Tax ID: 26-4193875

1 stars - out of 5 stars, based on 45 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Iserve Residential Lending is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. Iserve Residential Lending 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 San Diego, Reno, Nashville, Atlanta, and Riverside among others. Iserve Residential Lending has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Iserve Residential Lending is typically a high fee lendor.


Originations

2,057

Origination Dollar Volume (All Markets)

$611,245,000

Relative Rate

Iserve Residential Lending 's average 30 year fixed rate mortgage of loans were 3.28%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.13%.

Relative Fees

Iserve Residential Lending 's average total fees for a 30 year fixed rate mortgage are $8,596.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 195 $95,195,000 $488,179 $8,302 3.06%
RENO, NV (FHA|USDA|VA) 271 $87,735,000 $323,745 $6,397 3.28%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 298 $85,660,000 $287,450 $9,295 3.23%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 242 $68,140,000 $281,570 $11,578 3.33%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 71 $21,495,000 $302,746 $5,916 3.01%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 46 $21,410,000 $465,435 $7,329 3.22%
KNOXVILLE, TN (FHA|USDA|VA) 81 $19,935,000 $246,111 $9,323 3.29%
Fernley, NV (FHA|USDA|VA) 66 $19,060,000 $288,788 $6,959 3.36%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 68 $15,420,000 $226,765 $8,236 3.21%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 63 $14,255,000 $226,270 $8,562 3.23%
Outside of Metro Areas 53 $11,615,000 $219,151 $7,034 3.33%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 42 $11,340,000 $270,000 $6,422 3.34%
Tullahoma-Manchester, TN (FHA|USDA|VA) 46 $9,650,000 $209,783 $6,024 3.25%
CLEVELAND, TN (FHA|USDA|VA) 40 $8,560,000 $214,000 $7,228 3.19%
HUNTSVILLE, AL (FHA|USDA|VA) 33 $8,285,000 $251,061 $10,003 3.39%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 35 $8,025,000 $229,286 $9,980 3.34%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 25 $7,495,000 $299,800 $7,500 3.26%
Elko, NV (FHA|USDA|VA) 19 $5,715,000 $300,789 $7,950 3.20%
Fallon, NV (FHA|USDA|VA) 14 $3,850,000 $275,000 $8,941 3.71%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 8 $3,680,000 $460,000 $4,969 3.51%
Shelbyville, TN (FHA|USDA|VA) 17 $3,605,000 $212,059 $7,408 3.07%
CARSON CITY, NV (FHA|USDA|VA) 11 $3,465,000 $315,000 $7,316 3.27%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 8 $2,920,000 $365,000 $5,362 3.04%
Cookeville, TN (FHA|USDA|VA) 12 $2,890,000 $240,833 $8,746 3.06%
Gardnerville Ranchos, NV (FHA|USDA|VA) 8 $2,760,000 $345,000 $5,668 3.09%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 13 $2,745,000 $211,154 $8,290 3.27%
GAINESVILLE, GA (FHA|USDA|VA) 9 $2,725,000 $302,778 $9,880 3.39%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 12 $2,580,000 $215,000 $8,688 3.17%
Sevierville, TN (FHA|USDA|VA) 12 $2,500,000 $208,333 $8,769 3.35%
FRESNO, CA (FHA|USDA|VA) 7 $2,395,000 $342,143 $5,459 2.96%
DALTON, GA (FHA|USDA|VA) 11 $2,165,000 $196,818 $9,662 3.24%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 10 $2,130,000 $213,000 $10,344 3.21%
BAKERSFIELD, CA (FHA|USDA|VA) 10 $1,890,000 $189,000 $4,882 3.02%
Albertville, AL (FHA|USDA|VA) 6 $1,870,000 $311,667 $11,675 3.60%
Lewisburg, TN (FHA|USDA|VA) 8 $1,850,000 $231,250 $7,234 3.00%
Jefferson, GA (FHA|USDA|VA) 7 $1,775,000 $253,571 $10,749 3.16%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 8 $1,740,000 $217,500 $9,652 2.98%
RICHMOND, VA (FHA|USDA|VA) 6 $1,710,000 $285,000 $8,414 3.08%
NAPA, CA (FHA|USDA|VA) 3 $1,705,000 $568,333 $3,477 3.00%
MORRISTOWN, TN (FHA|USDA|VA) 9 $1,665,000 $185,000 $8,177 3.35%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 8 $1,650,000 $206,250 $8,806 3.13%
Crossville, TN (FHA|USDA|VA) 7 $1,475,000 $210,714 $9,198 3.14%
TUCSON, AZ (FHA|USDA|VA) 5 $1,395,000 $279,000 $5,882 3.83%
McMinnville, TN (FHA|USDA|VA) 9 $1,395,000 $155,000 $5,576 3.44%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 4 $1,310,000 $327,500 $6,644 2.97%
ROME, GA (FHA|USDA|VA) 5 $1,205,000 $241,000 $11,252 3.48%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,165,000 $388,333 $6,128 3.25%
MADERA, CA (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,424 3.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 5 $1,105,000 $221,000 $5,447 3.15%
COLUMBUS, GA-AL (FHA|USDA|VA) 5 $1,035,000 $207,000 $10,068 3.10%
SALINAS, CA (FHA|USDA|VA) 2 $1,030,000 $515,000 $5,096 3.43%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 5 $1,005,000 $201,000 $9,533 3.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $955,000 $191,000 $5,756 3.68%
Dayton, TN (FHA|USDA|VA) 4 $940,000 $235,000 $10,018 3.06%
Winnemucca, NV (FHA|USDA|VA) 4 $920,000 $230,000 $6,780 3.25%
GADSDEN, AL (FHA|USDA|VA) 5 $915,000 $183,000 $8,639 3.50%
STOCKTON, CA (FHA|USDA|VA) 3 $845,000 $281,667 $4,206 3.58%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 4 $840,000 $210,000 $9,715 3.41%
Cornelia, GA (FHA|USDA|VA) 4 $800,000 $200,000 $8,469 3.03%
DECATUR, AL (FHA|USDA|VA) 4 $770,000 $192,500 $9,220 3.28%
WARNER ROBINS, GA (FHA|USDA|VA) 4 $740,000 $185,000 $7,997 3.06%
JOHNSON CITY, TN (FHA|USDA|VA) 3 $715,000 $238,333 $8,070 3.46%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $700,000 $350,000 $13,981 3.25%
Calhoun, GA (FHA|USDA|VA) 3 $685,000 $228,333 $11,798 2.96%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $625,000 $625,000 $5,829 3.25%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $595,000 $595,000 $2,943 3.25%
YUMA, AZ (FHA|USDA|VA) 2 $580,000 $290,000 $4,462 2.75%
TUSCALOOSA, AL (FHA|USDA|VA) 3 $575,000 $191,667 $9,640 2.75%
Greeneville, TN (FHA|USDA|VA) 3 $575,000 $191,667 $8,695 3.71%
PANAMA CITY, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,332 3.50%
VALLEJO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $0 3.63%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $485,000 $485,000 $20,156 2.88%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $475,000 $475,000 $3,894 3.38%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $435,000 $435,000 $9,996 3.00%
REDDING, CA (FHA|USDA|VA) 1 $435,000 $435,000 $3,471 2.25%
Cullman, AL (FHA|USDA|VA) 2 $430,000 $215,000 $10,496 2.81%
Statesboro, GA (FHA|USDA|VA) 2 $400,000 $200,000 $7,565 3.38%
YUBA CITY, CA (FHA|USDA|VA) 1 $395,000 $395,000 $4,255 3.38%
Milledgeville, GA (FHA|USDA|VA) 1 $365,000 $365,000 $12,205 3.25%
Talladega-Sylacauga, AL (FHA|USDA|VA) 2 $360,000 $180,000 $9,344 3.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $12,256 3.38%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,383 3.38%
LaGrange, GA-AL (FHA|USDA|VA) 2 $340,000 $170,000 $7,543 3.44%
Fort Payne, AL (FHA|USDA|VA) 2 $340,000 $170,000 $6,665 2.81%
VISALIA, CA (FHA|USDA|VA) 2 $320,000 $160,000 $4,795 2.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $315,000 $315,000 $9,593 3.25%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $4,439 2.50%
Pahrump, NV (FHA|USDA|VA) 1 $285,000 $285,000 $16,419 3.25%
Cedartown, GA (FHA|USDA|VA) 1 $285,000 $285,000 $14,538 3.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $265,000 $265,000 $6,590 3.13%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $265,000 $265,000 $6,723 2.75%
JACKSON, TN (FHA|USDA|VA) 1 $235,000 $235,000 $11,446 4.75%
Susanville, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,332 3.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $205,000 $205,000 $3,428 2.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $185,000 $185,000 $7,404 3.99%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,563 2.99%
Athens, TN (FHA|USDA|VA) 1 $175,000 $175,000 $9,373 3.13%
Toccoa, GA (FHA|USDA|VA) 1 $165,000 $165,000 $8,441 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,268 2.99%
Jasper, AL (FHA|USDA|VA) 1 $145,000 $145,000 $6,209 4.00%
Forest City, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,760 3.25%

Iserve Residential Lending 's top markets include San Diego, Reno, Nashville, Atlanta, and Riverside among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,185 $373,145,000 $314,890 $6,378 3.27%
FHA 683 $173,595,000 $254,165 $11,189 3.25%
VA 146 $54,990,000 $376,644 $10,910 3.03%
USDA 43 $9,515,000 $221,279 $6,496 2.90%

For the 2021 period, Iserve Residential Lending 's most frequently originated loan type of loans were Conventional, with 1,185 originations. Their 2nd most popular type is FHA, with 683 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 876 $241,950,000 $276,199 $9,786 3.32%
Home Purchase 656 $217,600,000 $331,707 $7,921 3.30%
Refi 525 $151,695,000 $288,943 $6,491 3.04%

For the 2021, Iserve Residential Lending 's most frequently cited loan purpose of loans were Cash Out Refi, with 876 originations. The 2nd most popular reason of loans were Home Purchase, with 656 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,850 $561,940,000 $303,751 $8,596 3.28%
15 Year 111 $25,475,000 $229,505 $5,817 2.77%
20 Year 73 $18,165,000 $248,836 $6,586 3.04%
Other 17 $4,365,000 $256,765 $8,736 3.22%
10 Year 6 $1,300,000 $216,667 $4,986 2.83%

For the 2021, Iserve Residential Lending 's most frequently cited loan length of loans were 30 Year, with 1,850 originations. The 2nd most popular length of loans were 15 Year, with 111 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 617 $206,655,000 $334,935
$1k-2k 543 $160,705,000 $295,958
$3k-4k 512 $135,310,000 $264,277
$2k-3k 231 $59,395,000 $257,121
$<1k 76 $25,050,000 $329,605

$8,596 of loans were Iserve Residential Lending 's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 617 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,223 $360,535,000 $294,796
2.5-3% 615 $182,125,000 $296,138
<2.5% 119 $36,595,000 $307,521
4-5% 97 $30,975,000 $319,330
5-6% 3 $1,015,000 $338,333

During 2021, Iserve Residential Lending 's average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 1,223 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,165 $328,605,000 $282,064 $8,446 3.26%
$100k-200k 486 $79,350,000 $163,272 $6,227 3.21%
$400k-600k 315 $150,105,000 $476,524 $10,562 3.26%
$600k-1MM 61 $43,405,000 $711,557 $12,099 3.18%
$100,000 or less 24 $2,020,000 $84,167 $3,786 3.07%
$1MM+ 6 $7,760,000 $1,293,333 $28,840 3.25%

2021 saw Iserve Residential Lending place emphasis on $200k-400k loans with 1,165 originations, totaling $328,605,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 554 $134,590,000 $242,942 $7,890 3.22%
$100k-150k 493 $167,145,000 $339,037 $8,498 3.29%
$75k-100k 402 $119,490,000 $297,239 $9,747 3.27%
$50k or less 334 $66,340,000 $198,623 $6,514 3.19%
$150k-250k 215 $91,465,000 $425,419 $9,032 3.20%
$250k+ 59 $32,215,000 $546,017 $10,606 3.34%

Iserve Residential Lending lent most frequently to those with incomes in the $50k-75k range, with 554 originations. The second most popular income band? $100k-150k, with 493 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 338 $98,950,000 $292,751 $7,164 3.22%
20-30% 299 $88,415,000 $295,702 $6,550 3.19%
50-60% 232 $65,830,000 $283,750 $12,016 3.21%
44% 117 $35,585,000 $304,145 $12,411 3.39%
<20% 110 $31,700,000 $288,182 $4,838 3.01%
43% 90 $27,180,000 $302,000 $8,375 3.19%
49% 88 $28,400,000 $322,727 $8,159 3.27%
41% 86 $24,770,000 $288,023 $8,577 3.32%
42% 84 $26,510,000 $315,595 $7,734 3.30%
40% 80 $24,730,000 $309,125 $7,663 3.34%
39% 74 $20,650,000 $279,054 $7,974 3.28%
37% 73 $21,095,000 $288,973 $8,766 3.30%
36% 68 $19,160,000 $281,765 $8,505 3.28%
38% 66 $19,100,000 $289,394 $7,167 3.28%
46% 64 $21,520,000 $336,250 $8,945 3.25%
45% 64 $19,940,000 $311,563 $8,383 3.34%
48% 63 $19,005,000 $301,667 $8,633 3.20%
47% 54 $16,650,000 $308,333 $9,189 3.29%
>60% 3 $1,215,000 $405,000 $13,722 3.00%

Iserve Residential Lending lent most frequently to those with DTI ratios of 30-36%, with 338 originations. The next most common DTI ratio? 20-30%, with 299 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,532 $444,680,000 $290,261 $8,016 3.23%
Not provided 294 $100,320,000 $341,224 $9,998 3.29%
Black 141 $35,675,000 $253,014 $9,260 3.30%
Asian 64 $22,310,000 $348,594 $7,737 3.21%
American Indian 15 $3,785,000 $252,333 $6,164 3.31%
Asian Indian 3 $1,885,000 $628,333 $11,553 3.25%
Other Asian 4 $1,390,000 $347,500 $6,088 3.28%
Native Hawaiian 4 $1,200,000 $300,000 $2,852 3.25%

Approval Rates

Total approvals of all applications
95.57%

Iserve Residential Lending has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
71.72%

Iserve Residential Lending has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,057 $611,245,000 $297,154

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,057 $611,245,000 $297,154

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 66 $14,580,000 $220,909 $4,446 2.91%
40-60% 239 $68,725,000 $287,552 $5,585 3.07%
60-80% 864 $260,720,000 $301,759 $8,254 3.32%
80-100% 847 $251,545,000 $296,983 $9,196 3.25%
Over 100% 31 $14,255,000 $459,839 $17,556 2.88%
Under 20% 10 $1,420,000 $142,000 $3,552 3.05%