Draper And Kramer Mortgage Corp.

DOWNERS GROVE, IL 60515

LEI: 5493001R92DY5DI1DI85

Tax ID: 36-4115595

2019 Data | 2018 Data

Overview

Draper And Kramer Mortgage Corp. is a small mortgage company specializing in Home Purchase and Refi loans. Draper And Kramer Mortgage 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 Chicago, Cambridge, Washington, Lake County, and Los Angeles among others. They have an above 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. Draper And Kramer Mortgage Corp. is typically a medium-low fee lendor.

Originations

9,999

Origination Dollar Volume (All Markets)

$3,345,815,000

Product Mix

Loan Type	Originations	Total Value	Average Loan
Conventional	8,623	$2,936,505,000	$340,543
FHA	909	$236,815,000	$260,523
VA	429	$166,215,000	$387,448
USDA	38	$6,280,000	$165,263

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	5,378	$1,670,410,000	$310,601
Home Improvement	1,340	$431,560,000	$322,060
Refi	3,281	$1,243,845,000	$379,105

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
CHICAGO-NAPERVILLE-EVANSTON, IL	3,291	$1,039,645,000	$315,905
CAMBRIDGE-NEWTON-FRAMINGHAM, MA	978	$389,130,000	$397,883
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV	552	$233,820,000	$423,587
LAKE COUNTY-KENOSHA COUNTY, IL-WI	440	$145,360,000	$330,364
LOS ANGELES-LONG BEACH-GLENDALE, CA	212	$132,320,000	$624,151
BOSTON, MA	231	$97,915,000	$423,874
ELGIN, IL	323	$71,395,000	$221,037
DENVER-AURORA-LAKEWOOD, CO	168	$62,390,000	$371,369
PHOENIX-MESA-CHANDLER, AZ	178	$61,200,000	$343,820
BALTIMORE-COLUMBIA-TOWSON, MD	183	$61,015,000	$333,415
NEW BRUNSWICK-LAKEWOOD, NJ	198	$58,400,000	$294,949
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA	167	$54,205,000	$324,581
Outside of Metro Areas	205	$50,385,000	$245,780
BURLINGTON-SOUTH BURLINGTON, VT	166	$48,360,000	$291,325
WORCESTER, MA-CT	134	$47,370,000	$353,507
FREDERICK-GAITHERSBURG-ROCKVILLE, MD	120	$44,910,000	$374,250
SANTA MARIA-SANTA BARBARA, CA	82	$43,630,000	$532,073
OXNARD-THOUSAND OAKS-VENTURA, CA	93	$43,375,000	$466,398
GARY, IN	149	$34,135,000	$229,094
COLORADO SPRINGS, CO	89	$29,835,000	$335,225
WILMINGTON, DE-MD-NJ	90	$26,380,000	$293,111
OAKLAND-BERKELEY-LIVERMORE, CA	47	$25,775,000	$548,404
MANCHESTER-NASHUA, NH	91	$25,365,000	$278,736
OCEAN CITY, NJ	69	$20,425,000	$296,014
ATLANTIC CITY-HAMMONTON, NJ	103	$19,245,000	$186,845
NEWARK, NJ-PA	50	$19,180,000	$383,600
PHILADELPHIA, PA	59	$18,415,000	$312,119
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH	55	$18,185,000	$330,636
LAS VEGAS-HENDERSON-PARADISE, NV	55	$15,905,000	$289,182
LOUISVILLE/JEFFERSON COUNTY, KY-IN	96	$15,630,000	$162,813
WARREN-TROY-FARMINGTON HILLS, MI	44	$14,950,000	$339,773
PROVIDENCE-WARWICK, RI-MA	43	$14,055,000	$326,860
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA	30	$13,990,000	$466,333
DECATUR, IL	109	$13,315,000	$122,156
ANAHEIM-SANTA ANA-IRVINE, CA	27	$12,605,000	$466,852
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL	21	$12,345,000	$587,857
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL	22	$12,070,000	$548,636
DALLAS-PLANO-IRVING, TX	26	$11,810,000	$454,231
BARNSTABLE TOWN, MA	27	$11,025,000	$408,333
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA	29	$10,305,000	$355,345
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC	30	$9,950,000	$331,667
SAVANNAH, GA	49	$9,325,000	$190,306
CAMDEN, NJ	45	$9,305,000	$206,778
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ	26	$9,020,000	$346,923
INDIANAPOLIS-CARMEL-ANDERSON, IN	19	$8,475,000	$446,053
PORTLAND-VANCOUVER-HILLSBORO, OR-WA	14	$8,030,000	$573,571
NORTH PORT-SARASOTA-BRADENTON, FL	33	$7,365,000	$223,182
TAMPA-ST. PETERSBURG-CLEARWATER, FL	25	$6,995,000	$279,800
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI	20	$6,360,000	$318,000
RALEIGH-CARY, NC	21	$6,285,000	$299,286
MIAMI-MIAMI BEACH-KENDALL, FL	15	$6,205,000	$413,667
HOUSTON-THE WOODLANDS-SUGAR LAND, TX	16	$6,150,000	$384,375
ST. LOUIS, MO-IL	30	$5,620,000	$187,333
NAPLES-MARCO ISLAND, FL	15	$5,575,000	$371,667
SALISBURY, MD-DE	21	$5,545,000	$264,048
SAN JOSE-SUNNYVALE-SANTA CLARA, CA	9	$5,045,000	$560,556
MILWAUKEE-WAUKESHA, WI	20	$5,010,000	$250,500
SACRAMENTO-ROSEVILLE-FOLSOM, CA	12	$4,870,000	$405,833
SEATTLE-BELLEVUE-KENT, WA	7	$4,745,000	$677,857
CAPE CORAL-FORT MYERS, FL	20	$4,670,000	$233,500
SAN DIEGO-CHULA VISTA-CARLSBAD, CA	10	$4,250,000	$425,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC	8	$3,990,000	$498,750
NILES, MI	12	$3,930,000	$327,500
FORT WORTH-ARLINGTON-GRAPEVINE, TX	10	$3,920,000	$392,000
ORLANDO-KISSIMMEE-SANFORD, FL	11	$3,575,000	$325,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN	12	$3,350,000	$279,167
BRIDGEPORT-STAMFORD-NORWALK, CT	5	$3,175,000	$635,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX	11	$3,045,000	$276,818
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT	12	$2,800,000	$233,333
LAFAYETTE, LA	14	$2,720,000	$194,286
TRENTON-PRINCETON, NJ	9	$2,505,000	$278,333
RICHMOND, VA	7	$2,505,000	$357,857
PUNTA GORDA, FL	11	$2,435,000	$221,364
JACKSONVILLE, FL	7	$2,315,000	$330,714
MADISON, WI	6	$2,270,000	$378,333
DETROIT-DEARBORN-LIVONIA, MI	8	$2,230,000	$278,750
KANKAKEE, IL	15	$2,215,000	$147,667
CHAMPAIGN-URBANA, IL	15	$2,085,000	$139,000
CLEVELAND-ELYRIA, OH	8	$2,020,000	$252,500
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA	4	$1,990,000	$497,500
PORTLAND-SOUTH PORTLAND, ME	7	$1,905,000	$272,143
COLUMBUS, OH	3	$1,855,000	$618,333
GRAND RAPIDS-KENTWOOD, MI	7	$1,835,000	$262,143
LEXINGTON-FAYETTE, KY	7	$1,685,000	$240,714
PITTSBURGH, PA	7	$1,625,000	$232,143
GREELEY, CO	6	$1,620,000	$270,000
FORT COLLINS, CO	4	$1,610,000	$402,500
HILTON HEAD ISLAND-BLUFFTON, SC	6	$1,610,000	$268,333
PORT ST. LUCIE, FL	3	$1,455,000	$485,000
ROCKFORD, IL	10	$1,360,000	$136,000
NEW ORLEANS-METAIRIE, LA	4	$1,350,000	$337,500
RENO, NV	4	$1,270,000	$317,500
SAN LUIS OBISPO-PASO ROBLES, CA	3	$1,135,000	$378,333
KNOXVILLE, TN	3	$1,075,000	$358,333
HUNTSVILLE, AL	2	$1,070,000	$535,000
SALINAS, CA	2	$1,020,000	$510,000
NEW HAVEN-MILFORD, CT	4	$1,010,000	$252,500
CINCINNATI, OH-KY-IN	5	$1,005,000	$201,000
WILMINGTON, NC	3	$1,005,000	$335,000
FRESNO, CA	2	$1,000,000	$500,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR	3	$975,000	$325,000
SANTA ROSA-PETALUMA, CA	2	$930,000	$465,000
DURHAM-CHAPEL HILL, NC	5	$925,000	$185,000
CHARLOTTESVILLE, VA	4	$910,000	$227,500
RACINE, WI	4	$910,000	$227,500
BAKERSFIELD, CA	4	$900,000	$225,000
CLARKSVILLE, TN-KY	5	$895,000	$179,000
BEND, OR	2	$880,000	$440,000
VALLEJO, CA	2	$880,000	$440,000
MICHIGAN CITY-LA PORTE, IN	4	$850,000	$212,500
PENSACOLA-FERRY PASS-BRENT, FL	3	$835,000	$278,333
SOUTH BEND-MISHAWAKA, IN-MI	2	$830,000	$415,000
READING, PA	3	$825,000	$275,000
SHEBOYGAN, WI	2	$810,000	$405,000
SAN RAFAEL, CA	1	$805,000	$805,000
SALEM, OR	3	$795,000	$265,000
PRESCOTT VALLEY-PRESCOTT, AZ	2	$790,000	$395,000
PALM BAY-MELBOURNE-TITUSVILLE, FL	3	$765,000	$255,000
ALBUQUERQUE, NM	4	$760,000	$190,000
JOHNSON CITY, TN	2	$760,000	$380,000
BOISE CITY, ID	3	$755,000	$251,667
SEBASTIAN-VERO BEACH, FL	3	$745,000	$248,333
TOLEDO, OH	3	$705,000	$235,000
JANESVILLE-BELOIT, WI	4	$700,000	$175,000
GAINESVILLE, FL	3	$675,000	$225,000
BLOOMINGTON, IL	3	$665,000	$221,667
DOVER, DE	3	$655,000	$218,333
SPRINGFIELD, MA	3	$655,000	$218,333
OSHKOSH-NEENAH, WI	2	$650,000	$325,000
NEW BERN, NC	2	$640,000	$320,000
LANCASTER, PA	3	$615,000	$205,000
ALTOONA, PA	4	$610,000	$152,500
SCRANTON--WILKES-BARRE, PA	1	$605,000	$605,000
HARRISBURG-CARLISLE, PA	6	$600,000	$100,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC	3	$575,000	$191,667
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ	3	$565,000	$188,333
BIRMINGHAM-HOOVER, AL	1	$555,000	$555,000
KALAMAZOO-PORTAGE, MI	1	$535,000	$535,000
CALIFORNIA-LEXINGTON PARK, MD	2	$530,000	$265,000
HAGERSTOWN-MARTINSBURG, MD-WV	2	$510,000	$255,000
WACO, TX	2	$510,000	$255,000
GETTYSBURG, PA	1	$485,000	$485,000
ASHEVILLE, NC	1	$475,000	$475,000
APPLETON, WI	2	$460,000	$230,000
ANN ARBOR, MI	2	$460,000	$230,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL	3	$455,000	$151,667
GRANTS PASS, OR	3	$455,000	$151,667
BOULDER, CO	2	$450,000	$225,000
GREENVILLE-ANDERSON, SC	1	$435,000	$435,000
SPRINGFIELD, MO	1	$425,000	$425,000
LAFAYETTE-WEST LAFAYETTE, IN	1	$405,000	$405,000
PEORIA, IL	2	$400,000	$200,000
COEUR D'ALENE, ID	1	$395,000	$395,000
HATTIESBURG, MS	1	$385,000	$385,000
CHICO, CA	2	$370,000	$185,000
HINESVILLE, GA	3	$365,000	$121,667
MODESTO, CA	1	$355,000	$355,000
CHARLESTON-NORTH CHARLESTON, SC	1	$355,000	$355,000
TALLAHASSEE, FL	1	$355,000	$355,000
KANSAS CITY, MO-KS	3	$355,000	$118,333
OMAHA-COUNCIL BLUFFS, NE-IA	2	$330,000	$165,000
VALDOSTA, GA	2	$290,000	$145,000
ELIZABETHTOWN-FORT KNOX, KY	1	$285,000	$285,000
KINGSPORT-BRISTOL, TN-VA	1	$275,000	$275,000
HICKORY-LENOIR-MORGANTON, NC	1	$265,000	$265,000
IDAHO FALLS, ID	1	$265,000	$265,000
TERRE HAUTE, IN	2	$260,000	$130,000
ATHENS-CLARKE COUNTY, GA	1	$255,000	$255,000
YUBA CITY, CA	1	$245,000	$245,000
VINELAND-BRIDGETON, NJ	3	$235,000	$78,333
DULUTH, MN-WI	1	$235,000	$235,000
GRAND JUNCTION, CO	1	$225,000	$225,000
OKLAHOMA CITY, OK	1	$225,000	$225,000
ENID, OK	1	$215,000	$215,000
HOT SPRINGS, AR	1	$215,000	$215,000
WICHITA, KS	1	$215,000	$215,000
OLYMPIA-LACEY-TUMWATER, WA	1	$205,000	$205,000
JACKSONVILLE, NC	2	$200,000	$100,000
SPRINGFIELD, IL	2	$200,000	$100,000
AMES, IA	1	$195,000	$195,000
SPOKANE-SPOKANE VALLEY, WA	1	$195,000	$195,000
STOCKTON, CA	1	$195,000	$195,000
WINCHESTER, VA-WV	1	$195,000	$195,000
OCALA, FL	2	$190,000	$95,000
PUEBLO, CO	1	$185,000	$185,000
IOWA CITY, IA	1	$175,000	$175,000
YORK-HANOVER, PA	1	$175,000	$175,000
CLEVELAND, TN	1	$165,000	$165,000
HANFORD-CORCORAN, CA	1	$145,000	$145,000
SUMTER, SC	1	$145,000	$145,000
TYLER, TX	1	$145,000	$145,000
FAYETTEVILLE, NC	1	$135,000	$135,000
MEMPHIS, TN-MS-AR	3	$135,000	$45,000
CARSON CITY, NV	1	$135,000	$135,000
BILLINGS, MT	1	$135,000	$135,000
FLINT, MI	1	$135,000	$135,000
TUCSON, AZ	1	$125,000	$125,000
EAST STROUDSBURG, PA	1	$125,000	$125,000
KOKOMO, IN	1	$115,000	$115,000
CHAMBERSBURG-WAYNESBORO, PA	1	$115,000	$115,000
DES MOINES-WEST DES MOINES, IA	1	$105,000	$105,000
MUSKEGON, MI	1	$105,000	$105,000
VISALIA, CA	1	$95,000	$95,000
BATTLE CREEK, MI	1	$95,000	$95,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA	1	$95,000	$95,000
EL PASO, TX	1	$85,000	$85,000
JOHNSTOWN, PA	1	$85,000	$85,000
MONROE, MI	1	$75,000	$75,000
COLUMBUS, IN	1	$55,000	$55,000
Outside of Metro Areas	5	$55,000	$11,000

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%	129	$945,000	$7,326
2.5-3%	163	$61,425,000	$376,840
3-4%	5,584	$2,032,680,000	$364,019
4-5%	3,497	$1,066,505,000	$304,977
5-6%	541	$144,935,000	$267,902
6-7%	59	$28,245,000	$478,729
7-8%	22	$8,970,000	$407,727
Over 8%	4	$2,110,000	$527,500

Loan Sizing

Loan Size	Originations	Total Value	Average Loan
$100,000 or less	484	$26,820,000	$55,413
$100k-200k	2,033	$314,345,000	$154,621
$200k-400k	4,640	$1,360,330,000	$293,175
$400k-600k	2,071	$982,965,000	$474,633
$600k-1000k	641	$465,475,000	$726,170
$Over $1MM	130	$195,880,000	$1,506,769

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%	304	$75,830,000	$249,441
40-60%	1,088	$368,120,000	$338,346
60-80%	3,866	$1,402,750,000	$362,843
80-100%	4,448	$1,451,810,000	$326,396
Over 100%	93	$34,545,000	$371,452
Under 20%	175	$4,195,000	$23,971

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	2,616	$863,570,000	$330,111
$150k-250k	2,138	$860,840,000	$402,638
$50k-75k	1,560	$314,340,000	$201,500
$50k-or less	734	$115,980,000	$158,011
$75k-100k	1,681	$451,955,000	$268,861
$Over $250k	1,198	$707,980,000	$590,968

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan
White	6,863	$2,286,975,000	$333,233
Asian	1,583	$543,105,000	$343,086
Not provided	953	$323,895,000	$339,869
Black	575	$183,515,000	$319,157
American Indian	11	$3,695,000	$335,909
Native Hawaiian	8	$2,500,000	$312,500
Asian Indian	3	$1,535,000	$511,667
	1	$215,000	$215,000
Other Asian	1	$205,000	$205,000
Not applicable	1	$175,000	$175,000

Approval Rates

Total approvals of all applications
97.67%

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
78.23%

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
137893.0	1	$315,000	$315,000
NA	9,998	$3,345,500,000	$334,617

Origination Fees

Origination Fee	Originations	Total Value	Average Loan
$<1k	246	$72,870,000	$296,220
$1k-2k	8,553	$2,867,825,000	$335,300
$2k-3k	397	$125,735,000	$316,713
$3k-4k	307	$106,285,000	$346,205
$5k+	163	$91,355,000	$560,460

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	4	$520,000	$130,000
Single Family (1-4 Units):Site-Built	9,995	$3,345,295,000	$334,697