Woori America Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 5493001FKX0BM8GN6P73

Tax ID: 13-3192702

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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

    Woori America Bank is a smaller bank specializing in Home Purchase and Refi loans. Woori America Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Los Angeles, Philadelphia, Washington, and Baltimore among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Woori America Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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

    200

    Origination Dollar Volume (All Markets)

    $118,230,000

    Employee count

    246

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 124 $66,910,000 $539,597 $0 0.00%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 30 $41,030,000 $1,367,667 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 24 $4,870,000 $202,917 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 11 $2,345,000 $213,182 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $855,000 $285,000 $0 0.00%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    LANCASTER, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Woori America Bank's top markets include New York, Los Angeles, Philadelphia, Washington, and Baltimore among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 200 $118,230,000 $591,150 $0 0.00%

    For 2018, Woori America Bank's most frequently originated type of loan was Conventional, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 142 $66,470,000 $468,099 $0 0.00%
    Cash Out Refi 29 $13,875,000 $478,448 $0 0.00%
    Refi 24 $36,420,000 $1,517,500 $0 0.00%
    Home Improvement 4 $1,360,000 $340,000 $0 0.00%
    Other 1 $105,000 $105,000 $0 0.00%

    For 2018, Woori America Bank's most frequently cited loan purpose was Home Purchase, with 142 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 200 $118,230,000 $591,150 $0 0.00%

    For 2018, Woori America Bank's most frequently cited loan duration was Other, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $22,255,000 $296,733 $0 0.00%
    $100k-200k 42 $6,170,000 $146,905 $0 0.00%
    $400k-600k 42 $19,790,000 $471,190 $0 0.00%
    $600k-1MM 22 $16,300,000 $740,909 $0 0.00%
    $1MM+ 18 $53,630,000 $2,979,444 $0 0.00%
    $100,000 or less 1 $85,000 $85,000 $0 0.00%

    2018 saw Woori America Bank place emphasis on $200k-400k loans with 75 originations, totaling $22,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $16,090,000 $383,095 $0 0.00%
    $75k-100k 36 $9,410,000 $261,389 $0 0.00%
    $150k-250k 32 $16,200,000 $506,250 $0 0.00%
    $250k+ 31 $21,545,000 $695,000 $0 0.00%
    $50k-75k 28 $6,250,000 $223,214 $0 0.00%
    $50k or less 15 $2,125,000 $141,667 $0 0.00%

    Woori America Bank lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $75k-100k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 200 $118,230,000 $591,150 $0 0.00%

    Woori America Bank lent most frequently to those with DTI ratios of Exempt%, with 200 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 184 $72,210,000 $392,446 $0 0.00%
    Not applicable 13 $44,585,000 $3,429,615 $0 0.00%
    White 2 $950,000 $475,000 $0 0.00%
    Not provided 1 $485,000 $485,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.69%

    Woori America Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.50%

    Woori America Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 200 $118,230,000 $591,150

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $40,810,000 $2,915,000
    Single Family (1-4 Units):Site-Built 186 $77,420,000 $416,237

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Woori America Bank 10035 Baltimore National Pike Ellicott City, MD 21042 Full Service B&M $57,909
    Woori America Bank 10120 Garden Grove Boulevard Garden Grove, CA 92844 Full Service B&M $21,480
    Woori America Bank 136-88 39th Avenue New York City, NY 11354 Full Service B&M $151,111
    Woori America Bank 13830a-12 Braddock Road Centreville, VA 20121 Full Service B&M $59,132
    Woori America Bank 14252 Culver Dr. Suite G Irvine, CA 92604 Full Service B&M $55,410
    Woori America Bank 164-25 Northern Blvd Flushing, NY 11358 Full Service B&M $10,338
    Woori America Bank 2053 Lemoine Avenue Fort Lee, NJ 7024 Full Service B&M $297,602
    Woori America Bank 215-10 Northern Boulevard Bayside, NY 11361 Full Service B&M $82,826
    Woori America Bank 225 Broad Avenue Palisades Park, NJ 7650 Full Service B&M $84,726
    Woori America Bank 234 Closter Dock Road Closter, NJ 7624 Full Service B&M $71,907
    Woori America Bank 2390 Crenshaw Blvd. Torrance, CA 90501 Full Service B&M $19,031
    Woori America Bank 321 Broad Avenue Ridgefield, NJ 7657 Full Service B&M $49,460
    Woori America Bank 330 Fifth Avenue New York, NY 10001 Full Service B&M $221,752
    Woori America Bank 3360 W. Olympic Blvd. Los Angeles, CA 90019 Full Service B&M $74,662
    Woori America Bank 3500 West 6th Street, Suite 201 Los Angeles, CA 90020 Full Service B&M $30,574
    Woori America Bank 4231 Markham Street, Units F&g Annandale, VA 22003 Full Service B&M $116,723
    Woori America Bank 43-22 50th Street New York City, NY 11377 Full Service B&M $46,706
    Woori America Bank 5731 Beach Boulevard Buena Park, CA 90621 Full Service B&M $44,682
    Woori America Bank 7300 Old York Rd Elkins Park, PA 19027 Full Service B&M $69,455

    For 2018, Woori America Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $75,236
    Net interest income $63,607
    Total noninterest income $7,151
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,382
    Trading account gains and fees $0
    Additional Noninterest Income $5,769
    Pre-tax net operating income $24,199
    Securities gains (or losses, -) $0
    Income before extraordinary items $16,983
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,983
    Minority interest net income $0
    Net income $16,983
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,983

    Woori America Bank's gross interest income from loans was $75,236,000.
    Woori America Bank's net interest income from loans was $63,607,000.
    Woori America Bank's fee based income from loans was $1,382,000.
    Woori America Bank's net income from loans was $16,983,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,629
    Provision for credit losses $1,489
    Total noninterest expense $45,070
    Salaries and employee benefits $22,230
    Premises and equipment expense $9,320
    Additional noninterest expense $13,520
    Applicable income taxes $7,216
    Net charge-offs $-142
    Cash dividends $0

    Woori America Bank's interest expense for loans was $11,629,000.
    Woori America Bank's payroll and benefits expense were $22,230,000.
    Woori America Bank's property, plant and equipment expenses $9,320,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $1,617,586
    Deposits held in domestic offices $1,617,586
    Deposits by Individuals, partnerships, and corporations $1,617,584
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $168,933
    Demand deposits $155,001
    Nontransaction accounts $1,448,653
    Money market deposit accounts (MMDAs) $294,058
    Other savings deposits (excluding MMDAs) $562,282
    Total time deposits $592,311
    Total time and savings deposits $1,462,585
    Noninterest-bearing deposits $595,968
    Interest-bearing deposits $1,021,618
    Retail deposits $1,212,634
    IRAs and Keogh plan accounts $3,778
    Brokered deposits $111,042
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,945,838
    Cash & Balances due from depository institutions $115,960
    Interest-bearing balances $91,660
    Total securities $202,316
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,559,732
    Loan and leases loss allowance $15,988
    Trading account assets $0
    Bank premises and fixed assets $8,719
    Other real estate owned $0
    Goodwill and other intangibles $2,071
    All other assets $57,040

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,945,837
    Total Liabilities $1,679,636
    Total deposits $1,617,586
    Interest-bearing deposits $1,021,618
    Deposits held in domestic offices $1,617,586
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $43,739
    Subordinated debt $0
    All other liabilities $18,311

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,559,732
    Loan and leases loss allowance $15,988
    Total loans and leases (domestic) $1,575,720
    All real estate loans $1,458,001
    Real estate loans in domestic offices $1,458,001
    Construction and development loans $38,600
    Residential 1-4 family construction $0
    Other construction, all land development and other land $38,600
    Loans secured by nonfarm nonresidential properties $1,058,474
    Nonfarm nonresidential secured by owner-occupied properties $248,514
    Commercial real estate & other non-farm, non-residential $809,960
    Multifamily residential real estate $61,410
    1-4 family residential loans $299,517
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $113,173
    To non-U.S. addressees $13,431
    Loans to individuals $2,880
    Credit card loans $2,724
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $156
    All other loans & leases $1,666
    Loans to foreign governments and official institutions $0
    Other loans $220
    Loans to depository institutions and acceptances of other banks $1,446
    Loans not secured by real estate $13,535
    Loans secured by real estate to non-U.S. addressees $20,000
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Woori America Bank had $1,559,732,000 of loans outstanding in 2018. $1,458,001,000 of loans were in real estate loans. $38,600,000 of loans were in development loans. $61,410,000 of loans were in multifamily mortgage loans. $299,517,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,724,000 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 397 $139,589 $351,610
    Nonfarm, nonresidential loans - <$100k 19 $1,044 $54,947
    Nonfarm, nonresidential loans - $100-250k 77 $10,274 $133,429
    Nonfarm, nonresidential loans - $250k-1MM 301 $128,271 $426,150
    Commercial & Industrial, US addressed loans - <$1MM 1,130 $22,206 $19,651
    Commercial & Industrial, US addressed loans - <$100k 969 $3,454 $3,564
    Commercial & Industrial, US addressed loans - $100-250k 58 $4,308 $74,276
    Commercial & Industrial, US addressed loans - $250k-1MM 103 $14,444 $140,233