Grandbridge Real Est Capital

Raleigh, NC 27604-1086

LEI: 549300337GB2P1WP7003

Tax ID: 56-2224037

2019 Data | 2018 Data


Overview

Grandbridge Real Est Capital is a small mortgage company specializing in Home Purchase and Refi loans. Grandbridge Real Est Capital has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Atlanta, Washington, Kansas City, Richmond, and Omaha among others. They have an above average approval rate for mortages when compared nationally -- and they have an average pick rate when compared to the same sample of other lendors. Grandbridge Real Est Capital is typically a lendor.


Originations

117

Origination Dollar Volume (All Markets)

$2,226,515,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 104 $1,999,580,000 $19,226,731
FHA 13 $226,935,000 $17,456,538

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 65 $1,250,105,000 $19,232,385
Home Improvement 3 $13,465,000 $4,488,333
Refi 49 $962,945,000 $19,651,939

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 6 $184,560,000 $30,760,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 4 $150,090,000 $37,522,500
KANSAS CITY, MO-KS 10 $149,060,000 $14,906,000
RICHMOND, VA 3 $129,935,000 $43,311,667
OMAHA-COUNCIL BLUFFS, NE-IA 5 $124,975,000 $24,995,000
BALTIMORE-COLUMBIA-TOWSON, MD 3 $113,475,000 $37,825,000
COLUMBUS, OH 4 $108,320,000 $27,080,000
GREENSBORO-HIGH POINT, NC 6 $101,510,000 $16,918,333
ORLANDO-KISSIMMEE-SANFORD, FL 2 $83,290,000 $41,645,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 5 $80,965,000 $16,193,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 3 $75,765,000 $25,255,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 2 $50,700,000 $25,350,000
FARGO, ND-MN 2 $48,980,000 $24,490,000
RALEIGH-CARY, NC 3 $47,885,000 $15,961,667
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 3 $46,035,000 $15,345,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 4 $44,770,000 $11,192,500
SALT LAKE CITY, UT 1 $42,505,000 $42,505,000
SEATTLE-BELLEVUE-KENT, WA 2 $42,110,000 $21,055,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 3 $41,315,000 $13,771,667
WINSTON-SALEM, NC 2 $40,510,000 $20,255,000
GAINESVILLE, FL 1 $40,005,000 $40,005,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1 $38,705,000 $38,705,000
GREENVILLE-ANDERSON, SC 1 $33,585,000 $33,585,000
COLUMBUS, GA-AL 2 $32,260,000 $16,130,000
LAS VEGAS-HENDERSON-PARADISE, NV 2 $30,600,000 $15,300,000
BIRMINGHAM-HOOVER, AL 1 $26,475,000 $26,475,000
JACKSONVILLE, FL 1 $24,905,000 $24,905,000
MANKATO, MN 1 $21,915,000 $21,915,000
SIOUX FALLS, SD 2 $21,210,000 $10,605,000
ASHEVILLE, NC 1 $21,005,000 $21,005,000
Outside of Metro Areas 3 $20,725,000 $6,908,333
WICHITA, KS 1 $20,005,000 $20,005,000
BATON ROUGE, LA 1 $16,505,000 $16,505,000
DENVER-AURORA-LAKEWOOD, CO 2 $14,670,000 $7,335,000
FORT COLLINS, CO 1 $14,025,000 $14,025,000
PHOENIX-MESA-CHANDLER, AZ 2 $13,420,000 $6,710,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 1 $12,005,000 $12,005,000
LAFAYETTE, LA 2 $11,550,000 $5,775,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 2 $10,740,000 $5,370,000
BLACKSBURG-CHRISTIANSBURG, VA 1 $10,335,000 $10,335,000
TYLER, TX 1 $10,055,000 $10,055,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1 $9,705,000 $9,705,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $9,045,000 $9,045,000
SHREVEPORT-BOSSIER CITY, LA 2 $8,030,000 $4,015,000
HICKORY-LENOIR-MORGANTON, NC 1 $7,705,000 $7,705,000
BOULDER, CO 1 $7,585,000 $7,585,000
PROVIDENCE-WARWICK, RI-MA 1 $7,205,000 $7,205,000
ALBANY-SCHENECTADY-TROY, NY 1 $6,755,000 $6,755,000
FORT SMITH, AR-OK 1 $4,575,000 $4,575,000
MONTGOMERY, AL 1 $4,105,000 $4,105,000
SPRINGFIELD, MO 1 $3,745,000 $3,745,000
ALBANY-LEBANON, OR 1 $2,575,000 $2,575,000
NEW ORLEANS-METAIRIE, LA 1 $2,125,000 $2,125,000
MOBILE, AL 1 $1,905,000 $1,905,000

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
2.5-3% 1 $12,055,000 $12,055,000
3-4% 60 $1,221,380,000 $20,356,333
4-5% 50 $960,410,000 $19,208,200
5-6% 6 $32,670,000 $5,445,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$Over $1MM 117 $2,226,515,000 $19,030,043

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% 2 $15,010,000 $7,505,000
40-60% 15 $234,775,000 $15,651,667
60-80% 88 $1,840,120,000 $20,910,455
80-100% 2 $21,310,000 $10,655,000
Under 20% 8 $49,150,000 $6,143,750

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

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
Not applicable 117 $2,226,515,000 $19,030,043

Approval Rates

Total approvals of all applications
98.51%

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
94.42%

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
NA 117 $2,226,515,000 $19,030,043

Origination Fees

Origination Fee Originations Total Value Average Loan

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
Multifamily:Manufactured 6 $47,640,000 $7,940,000
Multifamily:Site-Built 111 $2,178,875,000 $19,629,505