Interlinc Mortgage Services Llc

Houston, TX 77064

LEI: 5493004OB0KD7VERQW98

Tax ID: 27-0349391

2019 Data | 2018 Data


Overview

Interlinc Mortgage Services Llc is a small mortgage company specializing in Home Purchase loans. Interlinc Mortgage Services Llc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Houston, Oklahoma City, San Antonio, Louisville/jefferson County, and Nashville 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. Interlinc Mortgage Services Llc is typically a low fee lendor.


Originations

7,422

Origination Dollar Volume (All Markets)

$1,529,460,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 3,696 $798,540,000 $216,055
FHA 2,411 $438,365,000 $181,819
VA 994 $244,760,000 $246,237
USDA 321 $47,795,000 $148,894

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 6,692 $1,353,140,000 $202,203
Refi 451 $114,955,000 $254,889
Cash Out Refi 279 $61,365,000 $219,946

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 1,198 $271,830,000 $226,903
OKLAHOMA CITY, OK 799 $136,015,000 $170,232
SAN ANTONIO-NEW BRAUNFELS, TX 524 $128,450,000 $245,134
LOUISVILLE/JEFFERSON COUNTY, KY-IN 591 $125,205,000 $211,853
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 424 $110,280,000 $260,094
Outside of Metro Areas 577 $97,375,000 $168,761
MONTGOMERY, AL 500 $94,120,000 $188,240
BIRMINGHAM-HOOVER, AL 351 $70,845,000 $201,838
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 282 $60,120,000 $213,191
TUSCALOOSA, AL 252 $45,360,000 $180,000
TULSA, OK 241 $38,805,000 $161,017
DALLAS-PLANO-IRVING, TX 139 $37,875,000 $272,482
NEW ORLEANS-METAIRIE, LA 138 $34,550,000 $250,362
AUBURN-OPELIKA, AL 119 $28,285,000 $237,689
DOTHAN, AL 177 $27,885,000 $157,542
COLLEGE STATION-BRYAN, TX 126 $27,820,000 $220,794
AUSTIN-ROUND ROCK-GEORGETOWN, TX 91 $26,205,000 $287,967
FORT WORTH-ARLINGTON-GRAPEVINE, TX 91 $20,805,000 $228,626
HUNTSVILLE, AL 101 $20,645,000 $204,406
PENSACOLA-FERRY PASS-BRENT, FL 87 $19,695,000 $226,379
COLUMBUS, GA-AL 83 $16,345,000 $196,928
TAMPA-ST. PETERSBURG-CLEARWATER, FL 73 $14,735,000 $201,849
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 103 $14,455,000 $140,340
JONESBORO, AR 64 $10,210,000 $159,531
HOUMA-THIBODAUX, LA 32 $6,020,000 $188,125
DECATUR, AL 34 $3,910,000 $115,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 24 $3,740,000 $155,833
DAPHNE-FAIRHOPE-FOLEY, AL 21 $3,555,000 $169,286
SAVANNAH, GA 16 $2,940,000 $183,750
MIDLAND, TX 9 $2,705,000 $300,556
HAMMOND, LA 14 $2,700,000 $192,857
HINESVILLE, GA 24 $2,510,000 $104,583
ELIZABETHTOWN-FORT KNOX, KY 12 $2,300,000 $191,667
CLARKSVILLE, TN-KY 11 $1,945,000 $176,818
ODESSA, TX 8 $1,750,000 $218,750
ORLANDO-KISSIMMEE-SANFORD, FL 5 $1,485,000 $297,000
JACKSONVILLE, FL 4 $1,360,000 $340,000
LAKELAND-WINTER HAVEN, FL 7 $1,285,000 $183,571
PANAMA CITY, FL 6 $1,240,000 $206,667
LEXINGTON-FAYETTE, KY 5 $1,185,000 $237,000
CORPUS CHRISTI, TX 3 $1,055,000 $351,667
TYLER, TX 3 $755,000 $251,667
FLORENCE-MUSCLE SHOALS, AL 5 $735,000 $147,000
KILLEEN-TEMPLE, TX 4 $650,000 $162,500
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 3 $625,000 $208,333
ANNISTON-OXFORD, AL 4 $620,000 $155,000
LONGVIEW, TX 3 $595,000 $198,333
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2 $550,000 $275,000
TOPEKA, KS 4 $520,000 $130,000
KNOXVILLE, TN 2 $470,000 $235,000
GAINESVILLE, GA 2 $360,000 $180,000
LAFAYETTE, LA 1 $325,000 $325,000
BEAUMONT-PORT ARTHUR, TX 1 $295,000 $295,000
MOBILE, AL 2 $280,000 $140,000
CINCINNATI, OH-KY-IN 1 $275,000 $275,000
LUBBOCK, TX 2 $230,000 $115,000
WICHITA, KS 1 $225,000 $225,000
JACKSON, MS 1 $205,000 $205,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $205,000 $205,000
MIAMI-MIAMI BEACH-KENDALL, FL 1 $205,000 $205,000
MEMPHIS, TN-MS-AR 1 $205,000 $205,000
LAWTON, OK 2 $200,000 $100,000
EL PASO, TX 1 $185,000 $185,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 1 $185,000 $185,000
BOWLING GREEN, KY 1 $145,000 $145,000
SHERMAN-DENISON, TX 1 $135,000 $135,000
ATHENS-CLARKE COUNTY, GA 1 $125,000 $125,000
HOMOSASSA SPRINGS, FL 1 $125,000 $125,000
SHREVEPORT-BOSSIER CITY, LA 1 $125,000 $125,000
BATON ROUGE, LA 1 $125,000 $125,000
LAREDO, TX 1 $105,000 $105,000
OWENSBORO, KY 1 $75,000 $75,000

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 $15,000 $15,000
2.5-3% 17 $6,065,000 $356,765
3-4% 2,430 $554,780,000 $228,305
4-5% 3,946 $786,670,000 $199,359
5-6% 959 $175,985,000 $183,509
6-7% 23 $4,675,000 $203,261
7-8% 1 $165,000 $165,000
Over 8% 4 $750,000 $187,500

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 695 $44,925,000 $64,640
$100k-200k 3,404 $527,830,000 $155,062
$200k-400k 2,980 $790,720,000 $265,342
$400k-600k 320 $145,660,000 $455,188
$600k-1000k 19 $14,745,000 $776,053
$Over $1MM 4 $5,580,000 $1,395,000

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% 70 $8,310,000 $118,714
40-60% 211 $37,715,000 $178,744
60-80% 1,109 $251,055,000 $226,380
80-100% 5,636 $1,166,580,000 $206,987
Over 100% 261 $64,115,000 $245,651
Under 20% 135 $1,685,000 $12,481

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 1,268 $327,530,000 $258,304
$150k-250k 597 $186,805,000 $312,906
$50k-75k 2,301 $421,125,000 $183,018
$50k-or less 1,697 $222,835,000 $131,311
$75k-100k 1,302 $285,480,000 $219,263
$Over $250k 174 $63,160,000 $362,989

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 5,833 $1,218,195,000 $208,845
Black 759 $147,095,000 $193,801
Not provided 553 $105,425,000 $190,642
Asian 183 $42,795,000 $233,852
American Indian 64 $10,370,000 $162,031
Native Hawaiian 17 $3,005,000 $176,765
Asian Indian 5 $1,205,000 $241,000
Other Asian 3 $595,000 $198,333
Other Pacific Islander 3 $505,000 $168,333
Filipino 1 $165,000 $165,000
Chinese 1 $105,000 $105,000

Approval Rates

Total approvals of all applications
94.22%

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
76.39%

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 7,422 $1,529,460,000 $206,071

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 4,478 $850,760,000 $189,987
$1k-2k 1,447 $327,505,000 $226,334
$2k-3k 521 $113,195,000 $217,265
$3k-4k 531 $135,435,000 $255,056
$5k+ 202 $69,290,000 $343,020

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 6 $670,000 $111,667
Single Family (1-4 Units):Site-Built 7,416 $1,528,790,000 $206,148