Mid America Mortgage Inc.

ADDISON, TX 75001

LEI: 54930049L5WINET09Q97

Tax ID: 34-1716542

2019 Data | 2018 Data


Overview

Mid America Mortgage Inc. is a small mortgage company specializing in Home Purchase loans. Mid America Mortgage Inc. has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets include Dallas, Houston, Fort Worth, Shreveport, and Toledo 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. Mid America Mortgage Inc. is typically a medium-low fee lendor.


Originations

8,665

Origination Dollar Volume (All Markets)

$1,836,735,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 3,345 $785,635,000 $234,868
FHA 3,214 $642,520,000 $199,913
VA 1,158 $281,510,000 $243,100
USDA 948 $127,070,000 $134,040

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 6,390 $1,288,500,000 $201,643
Refi 1,323 $323,015,000 $244,153
Cash Out Refi 952 $225,220,000 $236,576

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
DALLAS-PLANO-IRVING, TX 831 $232,425,000 $279,693
Outside of Metro Areas 1,479 $231,265,000 $156,366
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 866 $207,230,000 $239,296
FORT WORTH-ARLINGTON-GRAPEVINE, TX 404 $100,540,000 $248,861
SHREVEPORT-BOSSIER CITY, LA 390 $83,880,000 $215,077
TOLEDO, OH 327 $62,515,000 $191,177
INDIANAPOLIS-CARMEL-ANDERSON, IN 260 $54,030,000 $207,808
AUSTIN-ROUND ROCK-GEORGETOWN, TX 175 $46,945,000 $268,257
FLINT, MI 271 $38,925,000 $143,635
OKLAHOMA CITY, OK 158 $31,470,000 $199,177
TAMPA-ST. PETERSBURG-CLEARWATER, FL 96 $26,470,000 $275,729
LAFAYETTE, LA 144 $24,260,000 $168,472
BEAUMONT-PORT ARTHUR, TX 128 $23,840,000 $186,250
SAN ANTONIO-NEW BRAUNFELS, TX 87 $21,645,000 $248,793
CINCINNATI, OH-KY-IN 114 $20,240,000 $177,544
OMAHA-COUNCIL BLUFFS, NE-IA 116 $20,190,000 $174,052
CHICAGO-NAPERVILLE-EVANSTON, IL 82 $18,720,000 $228,293
LOS ANGELES-LONG BEACH-GLENDALE, CA 42 $17,670,000 $420,714
WARREN-TROY-FARMINGTON HILLS, MI 95 $17,255,000 $181,632
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 50 $16,920,000 $338,400
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 48 $16,830,000 $350,625
CLEVELAND-ELYRIA, OH 98 $16,780,000 $171,224
SAN LUIS OBISPO-PASO ROBLES, CA 36 $15,560,000 $432,222
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 50 $12,670,000 $253,400
WHEELING, WV-OH 88 $11,990,000 $136,250
ELGIN, IL 51 $10,895,000 $213,627
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 27 $10,805,000 $400,185
PHOENIX-MESA-CHANDLER, AZ 44 $10,630,000 $241,591
TACOMA-LAKEWOOD, WA 32 $10,610,000 $331,563
SACRAMENTO-ROSEVILLE-FOLSOM, CA 32 $10,570,000 $330,313
AKRON, OH 69 $10,425,000 $151,087
OXNARD-THOUSAND OAKS-VENTURA, CA 18 $9,600,000 $533,333
DES MOINES-WEST DES MOINES, IA 51 $9,475,000 $185,784
DAYTON-KETTERING, OH 56 $9,440,000 $168,571
SEATTLE-BELLEVUE-KENT, WA 26 $9,070,000 $348,846
TULSA, OK 55 $8,715,000 $158,455
LAS VEGAS-HENDERSON-PARADISE, NV 31 $8,565,000 $276,290
OGDEN-CLEARFIELD, UT 27 $7,855,000 $290,926
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 28 $7,290,000 $260,357
LOUISVILLE/JEFFERSON COUNTY, KY-IN 45 $7,255,000 $161,222
MILWAUKEE-WAUKESHA, WI 36 $7,230,000 $200,833
KANSAS CITY, MO-KS 39 $7,225,000 $185,256
DENVER-AURORA-LAKEWOOD, CO 21 $7,195,000 $342,619
MONROE, MI 33 $6,395,000 $193,788
CORPUS CHRISTI, TX 34 $6,120,000 $180,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 28 $5,590,000 $199,643
CEDAR RAPIDS, IA 37 $5,305,000 $143,378
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 13 $5,095,000 $391,923
AMES, IA 35 $5,075,000 $145,000
EL PASO, TX 34 $4,920,000 $144,706
COLUMBIA, SC 28 $4,780,000 $170,714
WICHITA, KS 39 $4,665,000 $119,615
SANTA MARIA-SANTA BARBARA, CA 14 $4,660,000 $332,857
ALBUQUERQUE, NM 21 $4,545,000 $216,429
GREENSBORO-HIGH POINT, NC 37 $4,545,000 $122,838
BELLINGHAM, WA 14 $4,400,000 $314,286
HUNTINGTON-ASHLAND, WV-KY-OH 35 $4,375,000 $125,000
ANCHORAGE, AK 15 $4,295,000 $286,333
LEXINGTON-FAYETTE, KY 24 $4,150,000 $172,917
MIDLAND, TX 15 $3,775,000 $251,667
COLUMBUS, OH 21 $3,755,000 $178,810
OLYMPIA-LACEY-TUMWATER, WA 12 $3,690,000 $307,500
GREELEY, CO 11 $3,585,000 $325,909
LANSING-EAST LANSING, MI 28 $3,480,000 $124,286
DETROIT-DEARBORN-LIVONIA, MI 20 $3,470,000 $173,500
LONGVIEW, TX 16 $3,420,000 $213,750
SPARTANBURG, SC 24 $3,340,000 $139,167
KNOXVILLE, TN 23 $3,295,000 $143,261
ORLANDO-KISSIMMEE-SANFORD, FL 14 $3,230,000 $230,714
RENO, NV 10 $3,150,000 $315,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 11 $3,115,000 $283,182
JACKSON, TN 24 $3,060,000 $127,500
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 13 $3,025,000 $232,692
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 10 $2,970,000 $297,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 11 $2,945,000 $267,727
TUCSON, AZ 16 $2,900,000 $181,250
BATON ROUGE, LA 16 $2,860,000 $178,750
REDDING, CA 12 $2,850,000 $237,500
CHICO, CA 11 $2,845,000 $258,636
SALT LAKE CITY, UT 9 $2,745,000 $305,000
SPRINGFIELD, MO 16 $2,700,000 $168,750
SAGINAW, MI 19 $2,645,000 $139,211
JACKSONVILLE, FL 9 $2,635,000 $292,778
FRESNO, CA 9 $2,555,000 $283,889
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 9 $2,485,000 $276,111
FARMINGTON, NM 14 $2,480,000 $177,143
TYLER, TX 10 $2,440,000 $244,000
KILLEEN-TEMPLE, TX 12 $2,430,000 $202,500
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 17 $2,305,000 $135,588
HAMMOND, LA 15 $2,285,000 $152,333
LAKE COUNTY-KENOSHA COUNTY, IL-WI 10 $2,240,000 $224,000
CANTON-MASSILLON, OH 13 $2,215,000 $170,385
SALEM, OR 8 $2,180,000 $272,500
FORT SMITH, AR-OK 17 $2,155,000 $126,765
VALLEJO, CA 5 $2,155,000 $431,000
MEMPHIS, TN-MS-AR 12 $2,100,000 $175,000
LUBBOCK, TX 10 $2,070,000 $207,000
GARY, IN 8 $1,970,000 $246,250
SHERMAN-DENISON, TX 7 $1,925,000 $275,000
MODESTO, CA 6 $1,720,000 $286,667
RACINE, WI 10 $1,720,000 $172,000
EUGENE-SPRINGFIELD, OR 6 $1,690,000 $281,667
RAPID CITY, SD 8 $1,680,000 $210,000
COLORADO SPRINGS, CO 5 $1,635,000 $327,000
SPOKANE-SPOKANE VALLEY, WA 8 $1,620,000 $202,500
BILLINGS, MT 7 $1,595,000 $227,857
MADERA, CA 6 $1,590,000 $265,000
YAKIMA, WA 8 $1,570,000 $196,250
NORTH PORT-SARASOTA-BRADENTON, FL 7 $1,555,000 $222,143
RICHMOND, VA 5 $1,535,000 $307,000
BALTIMORE-COLUMBIA-TOWSON, MD 4 $1,490,000 $372,500
NEW ORLEANS-METAIRIE, LA 9 $1,465,000 $162,778
DAPHNE-FAIRHOPE-FOLEY, AL 7 $1,435,000 $205,000
JOHNSON CITY, TN 8 $1,320,000 $165,000
BAKERSFIELD, CA 5 $1,305,000 $261,000
HICKORY-LENOIR-MORGANTON, NC 10 $1,290,000 $129,000
WINSTON-SALEM, NC 9 $1,275,000 $141,667
ELKHART-GOSHEN, IN 7 $1,275,000 $182,143
WACO, TX 6 $1,250,000 $208,333
SPRINGFIELD, OH 11 $1,245,000 $113,182
PORTLAND-SOUTH PORTLAND, ME 4 $1,210,000 $302,500
KENNEWICK-RICHLAND, WA 4 $1,200,000 $300,000
YUBA CITY, CA 4 $1,180,000 $295,000
COLLEGE STATION-BRYAN, TX 5 $1,145,000 $229,000
KINGSPORT-BRISTOL, TN-VA 6 $1,130,000 $188,333
WEIRTON-STEUBENVILLE, WV-OH 9 $1,125,000 $125,000
HOMOSASSA SPRINGS, FL 6 $1,120,000 $186,667
HANFORD-CORCORAN, CA 5 $1,095,000 $219,000
PENSACOLA-FERRY PASS-BRENT, FL 5 $1,085,000 $217,000
CLARKSVILLE, TN-KY 6 $1,080,000 $180,000
ODESSA, TX 4 $1,060,000 $265,000
FARGO, ND-MN 4 $1,020,000 $255,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 2 $1,010,000 $505,000
SANTA ROSA-PETALUMA, CA 3 $995,000 $331,667
NILES, MI 3 $985,000 $328,333
PROVO-OREM, UT 4 $980,000 $245,000
MOUNT VERNON-ANACORTES, WA 3 $975,000 $325,000
ST. GEORGE, UT 3 $965,000 $321,667
BIRMINGHAM-HOOVER, AL 8 $960,000 $120,000
LAKE HAVASU CITY-KINGMAN, AZ 5 $945,000 $189,000
FLAGSTAFF, AZ 4 $930,000 $232,500
AMARILLO, TX 4 $910,000 $227,500
BOSTON, MA 2 $900,000 $450,000
LAS CRUCES, NM 4 $900,000 $225,000
ENID, OK 3 $875,000 $291,667
BOISE CITY, ID 4 $870,000 $217,500
ANAHEIM-SANTA ANA-IRVINE, CA 2 $860,000 $430,000
FORT WAYNE, IN 5 $855,000 $171,000
RALEIGH-CARY, NC 5 $815,000 $163,000
PITTSBURGH, PA 3 $815,000 $271,667
TEXARKANA, TX-AR 3 $815,000 $271,667
JACKSON, MI 5 $805,000 $161,000
POCATELLO, ID 5 $795,000 $159,000
OAKLAND-BERKELEY-LIVERMORE, CA 2 $790,000 $395,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 2 $790,000 $395,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 4 $780,000 $195,000
CAPE CORAL-FORT MYERS, FL 4 $770,000 $192,500
SANTA FE, NM 3 $755,000 $251,667
GRAND JUNCTION, CO 3 $745,000 $248,333
COEUR D'ALENE, ID 3 $725,000 $241,667
FAYETTEVILLE, NC 4 $720,000 $180,000
NAPLES-MARCO ISLAND, FL 4 $710,000 $177,500
PANAMA CITY, FL 2 $690,000 $345,000
FORT COLLINS, CO 2 $690,000 $345,000
MOBILE, AL 3 $675,000 $225,000
LAKE CHARLES, LA 4 $670,000 $167,500
IOWA CITY, IA 4 $660,000 $165,000
KALAMAZOO-PORTAGE, MI 3 $645,000 $215,000
MANSFIELD, OH 3 $635,000 $211,667
ALBANY-LEBANON, OR 2 $620,000 $310,000
PUEBLO, CO 2 $610,000 $305,000
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $605,000 $201,667
SEBRING-AVON PARK, FL 4 $600,000 $150,000
GRAND FORKS, ND-MN 3 $595,000 $198,333
WALLA WALLA, WA 2 $580,000 $290,000
SIOUX CITY, IA-NE-SD 5 $575,000 $115,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 3 $565,000 $188,333
PRESCOTT VALLEY-PRESCOTT, AZ 2 $560,000 $280,000
MEDFORD, OR 2 $550,000 $275,000
BISMARCK, ND 2 $550,000 $275,000
FAIRBANKS, AK 2 $540,000 $270,000
JOPLIN, MO 4 $530,000 $132,500
PORT ST. LUCIE, FL 2 $520,000 $260,000
GAINESVILLE, GA 2 $510,000 $255,000
LAWTON, OK 5 $495,000 $99,000
ASHEVILLE, NC 2 $490,000 $245,000
TOPEKA, KS 3 $485,000 $161,667
HARRISBURG-CARLISLE, PA 3 $485,000 $161,667
MANHATTAN, KS 3 $475,000 $158,333
GRAND RAPIDS-KENTWOOD, MI 3 $465,000 $155,000
MONTGOMERY, AL 2 $460,000 $230,000
BLOOMINGTON, IN 2 $460,000 $230,000
BEND, OR 2 $460,000 $230,000
SEBASTIAN-VERO BEACH, FL 2 $450,000 $225,000
APPLETON, WI 2 $450,000 $225,000
LAWRENCE, KS 3 $445,000 $148,333
SAVANNAH, GA 2 $440,000 $220,000
HAGERSTOWN-MARTINSBURG, MD-WV 2 $410,000 $205,000
VICTORIA, TX 1 $405,000 $405,000
HOT SPRINGS, AR 3 $405,000 $135,000
URBAN HONOLULU, HI 1 $405,000 $405,000
HUNTSVILLE, AL 3 $395,000 $131,667
MUNCIE, IN 4 $390,000 $97,500
ANNISTON-OXFORD, AL 2 $390,000 $195,000
WICHITA FALLS, TX 1 $385,000 $385,000
JACKSONVILLE, NC 2 $380,000 $190,000
BATTLE CREEK, MI 2 $380,000 $190,000
ABILENE, TX 2 $380,000 $190,000
YORK-HANOVER, PA 2 $380,000 $190,000
MIDLAND, MI 2 $380,000 $190,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 2 $370,000 $185,000
SOUTH BEND-MISHAWAKA, IN-MI 2 $370,000 $185,000
LINCOLN, NE 3 $365,000 $121,667
COLUMBUS, GA-AL 2 $360,000 $180,000
MORRISTOWN, TN 2 $360,000 $180,000
GREENVILLE-ANDERSON, SC 2 $360,000 $180,000
ANN ARBOR, MI 3 $345,000 $115,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $345,000 $345,000
KOKOMO, IN 3 $345,000 $115,000
HINESVILLE, GA 2 $340,000 $170,000
SPRINGFIELD, IL 1 $335,000 $335,000
DECATUR, AL 1 $335,000 $335,000
GAINESVILLE, FL 2 $330,000 $165,000
LYNCHBURG, VA 1 $315,000 $315,000
CARSON CITY, NV 1 $295,000 $295,000
WENATCHEE, WA 1 $285,000 $285,000
MISSOULA, MT 1 $285,000 $285,000
DOTHAN, AL 1 $285,000 $285,000
LANCASTER, PA 1 $285,000 $285,000
NAPA, CA 1 $285,000 $285,000
JACKSON, MS 2 $280,000 $140,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $275,000 $275,000
MADISON, WI 2 $270,000 $135,000
TERRE HAUTE, IN 3 $265,000 $88,333
MANKATO, MN 1 $265,000 $265,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 1 $265,000 $265,000
MUSKEGON, MI 2 $260,000 $130,000
WILMINGTON, NC 2 $260,000 $130,000
BRUNSWICK, GA 1 $255,000 $255,000
VISALIA, CA 1 $255,000 $255,000
COLUMBIA, MO 1 $255,000 $255,000
PROVIDENCE-WARWICK, RI-MA 1 $255,000 $255,000
MANCHESTER-NASHUA, NH 1 $245,000 $245,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $245,000 $245,000
ST. LOUIS, MO-IL 2 $240,000 $120,000
DUBUQUE, IA 2 $230,000 $115,000
BARNSTABLE TOWN, MA 1 $225,000 $225,000
LAKELAND-WINTER HAVEN, FL 1 $225,000 $225,000
SANTA CRUZ-WATSONVILLE, CA 1 $225,000 $225,000
LEWISTON, ID-WA 2 $220,000 $110,000
CHARLESTON-NORTH CHARLESTON, SC 1 $215,000 $215,000
SIOUX FALLS, SD 1 $215,000 $215,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $215,000 $215,000
TUSCALOOSA, AL 1 $215,000 $215,000
MIAMI-MIAMI BEACH-KENDALL, FL 1 $215,000 $215,000
NEW BERN, NC 1 $215,000 $215,000
LONGVIEW, WA 1 $215,000 $215,000
VALDOSTA, GA 1 $215,000 $215,000
FLORENCE, SC 2 $210,000 $105,000
DULUTH, MN-WI 2 $210,000 $105,000
MCALLEN-EDINBURG-MISSION, TX 1 $205,000 $205,000
CLEVELAND, TN 1 $205,000 $205,000
HATTIESBURG, MS 1 $195,000 $195,000
CHATTANOOGA, TN-GA 2 $190,000 $95,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $185,000 $185,000
GRANTS PASS, OR 1 $185,000 $185,000
DURHAM-CHAPEL HILL, NC 1 $185,000 $185,000
WATERLOO-CEDAR FALLS, IA 2 $180,000 $90,000
CUMBERLAND, MD-WV 1 $175,000 $175,000
SCRANTON--WILKES-BARRE, PA 1 $165,000 $165,000
PHILADELPHIA, PA 1 $165,000 $165,000
SUMTER, SC 1 $165,000 $165,000
ALEXANDRIA, LA 2 $160,000 $80,000
FOND DU LAC, WI 1 $145,000 $145,000
SAN ANGELO, TX 1 $135,000 $135,000
ELIZABETHTOWN-FORT KNOX, KY 1 $135,000 $135,000
ERIE, PA 1 $135,000 $135,000
PEORIA, IL 1 $135,000 $135,000
DALTON, GA 1 $135,000 $135,000
DOVER, DE 1 $135,000 $135,000
BOWLING GREEN, KY 1 $125,000 $125,000
TRENTON-PRINCETON, NJ 1 $125,000 $125,000
COLUMBUS, IN 1 $125,000 $125,000
BAY CITY, MI 1 $125,000 $125,000
WARNER ROBINS, GA 1 $115,000 $115,000
BLACKSBURG-CHRISTIANSBURG, VA 1 $115,000 $115,000
OCALA, FL 1 $115,000 $115,000
ROCKFORD, IL 1 $115,000 $115,000
LEBANON, PA 1 $115,000 $115,000
NORWICH-NEW LONDON, CT 1 $105,000 $105,000
MONROE, LA 1 $105,000 $105,000
BROWNSVILLE-HARLINGEN, TX 1 $105,000 $105,000

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% 1 $5,000 $5,000
2.5-3% 95 $26,285,000 $276,684
3-4% 3,701 $870,405,000 $235,181
4-5% 3,834 $761,060,000 $198,503
5-6% 1,017 $173,745,000 $170,841
6-7% 9 $1,695,000 $188,333
7-8% 5 $2,335,000 $467,000
Over 8% 3 $1,205,000 $401,667

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 982 $75,840,000 $77,230
$100k-200k 3,734 $564,540,000 $151,189
$200k-400k 3,409 $936,075,000 $274,589
$400k-600k 489 $222,315,000 $454,632
$600k-1000k 47 $32,985,000 $701,809
$Over $1MM 4 $4,980,000 $1,245,000

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% 86 $10,970,000 $127,558
40-60% 385 $74,865,000 $194,455
60-80% 1,782 $414,220,000 $232,447
80-100% 6,268 $1,301,780,000 $207,687
Over 100% 135 $34,345,000 $254,407
Under 20% 8 $360,000 $45,000

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 1,546 $423,020,000 $273,622
$150k-250k 755 $243,275,000 $322,219
$50k-75k 2,358 $412,060,000 $174,750
$50k-or less 1,930 $254,910,000 $132,078
$75k-100k 1,548 $347,010,000 $224,167
$Over $250k 206 $79,410,000 $385,485

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 6,544 $1,367,650,000 $208,993
American Indian 1,093 $243,045,000 $222,365
Black 525 $111,065,000 $211,552
Not provided 314 $67,570,000 $215,191
Asian 179 $44,425,000 $248,184
Native Hawaiian 10 $2,980,000 $298,000

Approval Rates

Total approvals of all applications
96.63%

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
58.61%

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 8,665 $1,836,735,000 $211,972

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,599 $357,675,000 $223,687
$1k-2k 4,138 $855,100,000 $206,646
$2k-3k 922 $154,200,000 $167,245
$3k-4k 1,184 $228,360,000 $192,872
$5k+ 811 $239,215,000 $294,963

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 260 $40,890,000 $157,269
Single Family (1-4 Units):Site-Built 8,405 $1,795,845,000 $213,664