Center Street Lending Viii Mortgage Rates, Fees & Info
SACRAMENTO, CA
LEI: 5493001XZBZCQEIYKY53
Tax ID: 84-2416060
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% |
