Center Street Lending Viii Mortgage Rates, Fees & Info

SACRAMENTO, CA

LEI: 5493001XZBZCQEIYKY53

Tax ID: 84-2416060

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Center Street Lending Viii is a smaller mortgage company specializing in Home Purchase and Refi loans. Center Street Lending Viii has a high proportion of conventional loans. Their top markets include Center Street Lending Viii has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

949

Origination Dollar Volume (All Markets)

$928,925,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 949 $928,925,000 $978,846 $0 8.27%

Center Street Lending Viii 's top markets include

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 949 $928,925,000 $978,846 $0 8.27%

For the 2021 period, Center Street Lending Viii 's most frequently originated loan type of loans were Conventional, with 949 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 608 $568,060,000 $934,309 $0 8.24%
Refi 186 $229,590,000 $1,234,355 $0 8.73%
Cash Out Refi 155 $131,275,000 $846,935 $0 7.82%

For the 2021, Center Street Lending Viii 's most frequently cited loan purpose of loans were Home Purchase, with 608 originations. The 2nd most popular reason of loans were Refi, with 186 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
1 Year 482 $462,140,000 $958,797 $0 8.45%
Other 424 $445,580,000 $1,050,896 $0 8.34%
30+ year 43 $21,205,000 $493,140 $0 5.51%

For the 2021, Center Street Lending Viii 's most frequently cited loan length of loans were 1 Year, with 482 originations. The 2nd most popular length of loans were Other, with 424 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
Over 8% 513 $402,195,000 $784,006
7-8% 335 $422,285,000 $1,260,552
6-7% 68 $95,390,000 $1,402,794
4-5% 17 $5,765,000 $339,118
5-6% 16 $3,290,000 $205,625

During 2021, Center Street Lending Viii 's average interest rate of loans were 0.00%, while their most frequently originated rate bucket of loans were Over 8%, with 513 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 275 $633,395,000 $2,303,255 $0 8.05%
$200k-400k 233 $66,745,000 $286,459 $0 8.41%
$600k-1MM 185 $145,845,000 $788,351 $0 8.26%
$400k-600k 129 $63,725,000 $493,992 $0 8.46%
$100k-200k 118 $18,410,000 $156,017 $0 8.31%
$100,000 or less 9 $805,000 $89,444 $0 8.20%

2021 saw Center Street Lending Viii place emphasis on $1MM+ loans with 275 originations, totaling $633,395,000 in origination value.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 882 $869,640,000 $985,986 $0 8.29%
Korean 34 $35,550,000 $1,045,588 $0 7.73%
Asian Indian 11 $10,785,000 $980,455 $0 8.25%
Vietnamese 7 $4,445,000 $635,000 $0 7.86%
Chinese 4 $2,500,000 $625,000 $0 7.97%
Other Asian 3 $2,375,000 $791,667 $0 9.24%
Native Hawaiian 2 $2,100,000 $1,050,000 $0 8.00%
Black 5 $1,035,000 $207,000 $0 8.74%
Japanese 1 $495,000 $495,000 $0 8.50%

Approval Rates

Total approvals of all applications
76.08%

Center Street Lending Viii has a below average approval rate.

Pick Rate

Approvals leading to origination
85.03%

Center Street Lending Viii has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 949 $928,925,000 $978,846

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
949 $928,925,000 $978,846

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 10 $7,680,000 $768,000 $0 7.93%
40-60% 33 $49,045,000 $1,486,212 $0 7.61%
60-80% 246 $213,300,000 $867,073 $0 7.75%
80-100% 234 $202,940,000 $867,265 $0 8.30%
Over 100% 348 $438,560,000 $1,260,230 $0 8.61%
Under 20% 3 $1,515,000 $505,000 $0 10.67%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%