Opus Bank Mortgage Rates, Fees & Info

Irvine, CA

LEI: 5493002PJJERLWZ9O392

Tax ID: 33-0564430

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Opus Bank is a small bank specializing in Refi and Home Purchase loans. Opus Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Seattle, San Diego, Portland, and Phoenix among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Opus Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    517

    Origination Dollar Volume (All Markets)

    $1,504,015,000

    Employee count

    735

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 235 $663,025,000 $2,821,383 $0 0.00%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 35 $190,335,000 $5,438,143 $0 0.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 50 $126,380,000 $2,527,600 $0 0.00%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 35 $114,915,000 $3,283,286 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 36 $113,030,000 $3,139,722 $0 0.00%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 42 $84,180,000 $2,004,286 $0 0.00%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 28 $74,240,000 $2,651,429 $0 0.00%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 13 $44,665,000 $3,435,769 $0 0.00%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 13 $30,265,000 $2,328,077 $0 0.00%
    SALEM, OR (FHA|USDA|VA) 6 $11,980,000 $1,996,667 $0 0.00%
    SALINAS, CA (FHA|USDA|VA) 3 $8,765,000 $2,921,667 $0 0.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 3 $6,705,000 $2,235,000 $0 0.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $6,675,000 $2,225,000 $0 0.00%
    VALLEJO, CA (FHA|USDA|VA) 3 $6,215,000 $2,071,667 $0 0.00%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 2 $5,960,000 $2,980,000 $0 0.00%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $3,190,000 $1,595,000 $0 0.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $2,935,000 $2,935,000 $0 0.00%
    MEDFORD, OR (FHA|USDA|VA) 2 $2,400,000 $1,200,000 $0 0.00%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $2,315,000 $2,315,000 $0 0.00%
    CORVALLIS, OR (FHA|USDA|VA) 1 $2,235,000 $2,235,000 $0 0.00%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $1,365,000 $1,365,000 $0 0.00%
    Newport, OR (FHA|USDA|VA) 1 $1,235,000 $1,235,000 $0 0.00%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
    Opus Bank's top markets include Los Angeles, Seattle, San Diego, Portland, and Phoenix among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 517 $1,504,015,000 $2,909,120 $0 0.00%

    For 2019, Opus Bank's most frequently originated type of loan was Conventional, with 517 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 370 $1,106,810,000 $2,991,378 $0 0.00%
    Home Purchase 142 $389,130,000 $2,740,352 $0 0.00%
    Home Improvement 5 $8,075,000 $1,615,000 $0 0.00%

    For 2019, Opus Bank's most frequently cited loan purpose was Refi, with 370 originations. The 2nd most popular reason was Home Purchase, with 142 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 517 $1,504,015,000 $2,909,120 $0 0.00%

    For 2019, Opus Bank's most frequently cited loan duration was Other, with 517 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 467 $1,465,275,000 $3,137,634 $0 0.00%
    $600k-1MM 45 $36,125,000 $802,778 $0 0.00%
    $400k-600k 5 $2,615,000 $523,000 $0 0.00%

    2019 saw Opus Bank place emphasis on $1MM+ loans with 467 originations, totaling $1,465,275,000 in origination value.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 517 $1,504,015,000 $2,909,120 $0 0.00%

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 478 $1,447,120,000 $3,027,448 $0 0.00%
    White 15 $25,715,000 $1,714,333 $0 0.00%
    Not provided 17 $19,315,000 $1,136,176 $0 0.00%
    Asian 6 $11,360,000 $1,893,333 $0 0.00%
    American Indian 1 $505,000 $505,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.25%

    Opus Bank 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
    97.49%

    Opus Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 517 $1,504,015,000 $2,909,120

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 10 $24,370,000 $2,437,000
    Multifamily:Site-Built 505 $1,476,805,000 $2,924,366
    Single Family (1-4 Units):Site-Built 2 $2,840,000 $1,420,000

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Opus Bank 6590 N. Scottsdale Rd. Ste 160 Scottsdale, AZ 85253 Full Service B&M $40,930
    Opus Bank 1000 N. Western Ave., Suite 101 San Pedro, CA 90732 Full Service B&M $85,045
    Opus Bank 10524 19th Avenue Se Everett, WA 98208 Full Service B&M $87,518
    Opus Bank 10810 N. Tatum Blvd. Ste 114 Phoenix, AZ 85028 Full Service B&M $23,441
    Opus Bank 1101 Avenue D, Building B Snohomish, WA 98290 Full Service B&M $47,547
    Opus Bank 12301 Wilshire Blvd., Suite 150 Los Angeles, CA 90025 Full Service B&M $71,349
    Opus Bank 139 Bendigo Boulevard N North Bend, WA 98045 Full Service B&M $51,819
    Opus Bank 1401 4th Ave Seattle, WA 98101 Full Service B&M $23,754
    Opus Bank 15225 Aurora Ave N Shoreline, WA 98133 Full Service B&M $32,200
    Opus Bank 15600 Ne 8th St, A-8 Bellevue, WA 98008 Full Service B&M $37,155
    Opus Bank 16500 Ventura Blvd. Encino, CA 91436 Full Service B&M $142,854
    Opus Bank 1715 Via El Prado Redondo Beach, CA 90277 Full Service B&M $109,571
    Opus Bank 175 W Broadway Anaheim, CA 92805 Full Service B&M $44,850
    Opus Bank 17672 Yorba Linda Blvd Yorba Linda, CA 92886 Full Service B&M $85,458
    Opus Bank 188 106th Ave Ne, Ste 200 Bellevue, WA 98004 Full Service B&M $269,214
    Opus Bank 192 N. Canon Drive Beverly Hills, CA 90210 Full Service B&M $114,862
    Opus Bank 19419 Hwy 99 Lynnwood, WA 98036 Full Service B&M $85,008
    Opus Bank 19900 Macarthur Blvd., 12th Floor Irvine, CA 92612 Full Service B&M $2,949,856
    Opus Bank 2 North Lake Ave., Suite 130 Pasadena, CA 91101 Full Service B&M $45,094
    Opus Bank 200 West Commonwealth Avenue Fullerton, CA 92832 Full Service B&M $190,776
    Opus Bank 2100 East Foothill Blvd Ste B La Verne, CA 91750 Full Service B&M $70,453
    Opus Bank 211 East Ocean Blvd. Suite 110 Long Beach, CA 90802 Full Service B&M $33,701
    Opus Bank 2350 Monument Blvd., Suite A Pleasant Hill, CA 94523 Full Service B&M $32,334
    Opus Bank 23600 Hawthorne Boulevard, Unit B Torrance, CA 90505 Full Service B&M $85,797
    Opus Bank 24050 Aliso Creek Road, Suite 1a Laguna Niguel, CA 92677 Full Service B&M $71,457
    Opus Bank 2710 Via De La Valle B-170 Del Mar, CA 92014 Full Service B&M $57,274
    Opus Bank 278 Central Way Kirkland, WA 98033 Full Service B&M $64,137
    Opus Bank 2901 Rucker Avenue Everett, WA 98201 Full Service B&M $42,290
    Opus Bank 3005 N. Sepulveda Boulevard Manhattan Beach, CA 90266 Full Service B&M $64,863
    Opus Bank 305 Front Street North Issaquah, WA 98027 Full Service B&M $130,074
    Opus Bank 3748 E. Coast Highway Corona Del Mar, CA 92625 Full Service B&M $113,672
    Opus Bank 4012 Grand Avenue, Suite A Chino, CA 91710 Full Service B&M $25,865
    Opus Bank 4020 Blackhawk Plaza Circle Danville, CA 94506 Full Service B&M $46,020
    Opus Bank 437 5th Avenue S. Ste 101 Edmonds, WA 98020 Full Service B&M $68,820
    Opus Bank 4823 Pt Fosdick Dr Nw Gig Harbor, WA 98335 Full Service B&M $41,331
    Opus Bank 515 South Myrtle Avenue Monrovia, CA 91016 Full Service B&M $30,024
    Opus Bank 525 Sw Broadway Portland, OR 97205 Full Service B&M $34,794
    Opus Bank 528 E College Way Mount Vernon, WA 98273 Full Service B&M $114,679
    Opus Bank 550 N Brand Blvd Ste 150 Glendale, CA 91203 Full Service B&M $38,729
    Opus Bank 576 South Grand Avenue Covina, CA 91724 Full Service B&M $40,562
    Opus Bank 73700 Gorgonio Drive Twentynine Palms, CA 92277 Full Service B&M $24,024
    Opus Bank 7690 El Camino Real Carlsbad, CA 92009 Full Service B&M $51,644
    Opus Bank 7979 Ivanhoe Ave., Suite 150 La Jolla, CA 92037 Full Service B&M $57,341
    Opus Bank 815 State Ave. Marysville, WA 98270 Full Service B&M $55,146
    Opus Bank 82 Peninsula Ctr Palos Verdes Peninsula, CA 90274 Full Service B&M $181,986
    Opus Bank 950 Pacific Ave Suite 150 Tacoma, WA 98402 Full Service B&M $82,984
    Opus Bank 998 4th Street San Rafael, CA 94901 Full Service B&M $33,292

    For 2019, Opus Bank had 47 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $278,480
    Net interest income $202,007
    Total noninterest income $47,950
    Gross Fiduciary activities income $28,065
    Service charges on deposit accounts $2,760
    Trading account gains and fees $0
    Additional Noninterest Income $17,125
    Pre-tax net operating income $83,812
    Securities gains (or losses, -) $123
    Income before extraordinary items $61,834
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $61,834
    Minority interest net income $0
    Net income $61,834
    Sale, conversion, retirement of capital stock, net $3,058
    Net operating income $61,736

    Opus Bank's gross interest income from loans was $278,480,000.
    Opus Bank's net interest income from loans was $202,007,000.
    Opus Bank's fee based income from loans was $2,760,000.
    Opus Bank's net income from loans was $61,834,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $76,473
    Provision for credit losses $-4,905
    Total noninterest expense $171,050
    Salaries and employee benefits $102,843
    Premises and equipment expense $19,970
    Additional noninterest expense $48,237
    Applicable income taxes $22,101
    Net charge-offs $8,915
    Cash dividends $16,677

    Opus Bank's interest expense for loans was $76,473,000.
    Opus Bank's payroll and benefits expense were $102,843,000.
    Opus Bank's property, plant and equipment expenses $19,970,000.

    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 1.0%
    HELOC loans 16.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $6,484,052
    Deposits held in domestic offices $6,484,052
    Deposits by Individuals, partnerships, and corporations $5,898,124
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $585,908
    Deposits by Commercial banks and other depository institutions in U.S. $20
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $435,261
    Demand deposits $179,150
    Nontransaction accounts $6,048,791
    Money market deposit accounts (MMDAs) $2,117,467
    Other savings deposits (excluding MMDAs) $3,104,063
    Total time deposits $827,262
    Total time and savings deposits $6,304,902
    Noninterest-bearing deposits $779,396
    Interest-bearing deposits $5,704,656
    Retail deposits $6,097,698
    IRAs and Keogh plan accounts $56,815
    Brokered deposits $3,907
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,992,400
    Cash & Balances due from depository institutions $347,556
    Interest-bearing balances $317,105
    Total securities $1,039,682
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,859,881
    Loan and leases loss allowance $40,844
    Trading account assets $0
    Bank premises and fixed assets $50,918
    Other real estate owned $0
    Goodwill and other intangibles $365,777
    All other assets $328,586

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,992,400
    Total Liabilities $6,893,253
    Total deposits $6,484,052
    Interest-bearing deposits $5,704,656
    Deposits held in domestic offices $6,484,052
    % insured (estimated) $48
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $200,005
    Subordinated debt $133,275
    All other liabilities $75,921

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,859,881
    Loan and leases loss allowance $40,844
    Total loans and leases (domestic) $5,900,725
    All real estate loans $4,994,409
    Real estate loans in domestic offices $4,994,409
    Construction and development loans $55,739
    Residential 1-4 family construction $0
    Other construction, all land development and other land $55,739
    Loans secured by nonfarm nonresidential properties $1,099,809
    Nonfarm nonresidential secured by owner-occupied properties $306,862
    Commercial real estate & other non-farm, non-residential $792,947
    Multifamily residential real estate $3,784,564
    1-4 family residential loans $54,297
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $582,983
    To non-U.S. addressees $0
    Loans to individuals $4
    Credit card loans $0
    Related Plans $4
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $323,329
    Loans to foreign governments and official institutions $0
    Other loans $99
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $4,167
    Loans secured by real estate to non-U.S. addressees $12,546
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Opus Bank had $5,859,881,000 of loans outstanding in 2019. $4,994,409,000 of loans were in real estate loans. $55,739,000 of loans were in development loans. $3,784,564,000 of loans were in multifamily mortgage loans. $54,297,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 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 143 $56,270 $393,497
    Nonfarm, nonresidential loans - <$100k 3 $75 $25,000
    Nonfarm, nonresidential loans - $100-250k 16 $1,601 $100,063
    Nonfarm, nonresidential loans - $250k-1MM 124 $54,594 $440,274
    Commercial & Industrial, US addressed loans - <$1MM 277 $33,677 $121,578
    Commercial & Industrial, US addressed loans - <$100k 66 $1,640 $24,848
    Commercial & Industrial, US addressed loans - $100-250k 96 $5,747 $59,865
    Commercial & Industrial, US addressed loans - $250k-1MM 115 $26,290 $228,609