Guaranty Trust Company

MURFREESBORO, TN 37129

LEI: 5493005HCI0Y8LUK5S48

Tax ID: 62-1259997

2019 Data | 2018 Data


Overview

Guaranty Trust Company is a small mortgage company specializing in Home Purchase and Refi loans. Guaranty Trust Company 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 Nashville, Dallas, Knoxville, Pensacola, and Denver 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. Guaranty Trust Company is typically a low fee medium-low fee lendor.


Originations

6,713

Origination Dollar Volume (All Markets)

$1,537,255,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 4,072 $1,010,130,000 $248,067
FHA 1,386 $259,820,000 $187,460
VA 821 $204,515,000 $249,105
USDA 434 $62,790,000 $144,677

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 4,539 $998,005,000 $219,873
Home Improvement 4 $930,000 $232,500
Refi 1,230 $337,560,000 $274,439
Cash Out Refi 940 $200,760,000 $213,574

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
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 874 $231,220,000 $264,554
Outside of Metro Areas 857 $141,345,000 $164,930
DALLAS-PLANO-IRVING, TX 337 $104,745,000 $310,816
KNOXVILLE, TN 505 $92,275,000 $182,723
PENSACOLA-FERRY PASS-BRENT, FL 325 $83,965,000 $258,354
DENVER-AURORA-LAKEWOOD, CO 186 $64,420,000 $346,344
BIRMINGHAM-HOOVER, AL 217 $51,805,000 $238,733
CINCINNATI, OH-KY-IN 260 $51,470,000 $197,962
INDIANAPOLIS-CARMEL-ANDERSON, IN 215 $51,395,000 $239,047
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 216 $39,460,000 $182,685
CLARKSVILLE, TN-KY 189 $37,995,000 $201,032
OKLAHOMA CITY, OK 178 $37,990,000 $213,427
WARREN-TROY-FARMINGTON HILLS, MI 117 $31,565,000 $269,786
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 106 $27,080,000 $255,472
JACKSONVILLE, FL 112 $26,160,000 $233,571
ASHEVILLE, NC 92 $23,370,000 $254,022
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 73 $19,045,000 $260,890
COLUMBUS, OH 73 $17,575,000 $240,753
MOBILE, AL 110 $17,440,000 $158,545
CHARLOTTE-CONCORD-GASTONIA, NC-SC 70 $16,380,000 $234,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 47 $16,115,000 $342,872
BOULDER, CO 37 $15,355,000 $415,000
GREELEY, CO 46 $14,760,000 $320,870
FORT WORTH-ARLINGTON-GRAPEVINE, TX 57 $14,255,000 $250,088
BALTIMORE-COLUMBIA-TOWSON, MD 36 $12,630,000 $350,833
BRUNSWICK, GA 67 $11,895,000 $177,537
FORT COLLINS, CO 37 $11,825,000 $319,595
MORRISTOWN, TN 67 $11,395,000 $170,075
FLORENCE, SC 55 $10,875,000 $197,727
BATON ROUGE, LA 50 $10,850,000 $217,000
ORLANDO-KISSIMMEE-SANFORD, FL 34 $10,000,000 $294,118
CHARLESTON-NORTH CHARLESTON, SC 33 $9,915,000 $300,455
JACKSON, TN 60 $9,590,000 $159,833
CUMBERLAND, MD-WV 69 $9,375,000 $135,870
MEMPHIS, TN-MS-AR 42 $8,260,000 $196,667
ALEXANDRIA, LA 44 $8,110,000 $184,318
LOUISVILLE/JEFFERSON COUNTY, KY-IN 33 $7,585,000 $229,848
TULSA, OK 38 $7,300,000 $192,105
CHATTANOOGA, TN-GA 37 $7,225,000 $195,270
MILWAUKEE-WAUKESHA, WI 36 $7,160,000 $198,889
LAKELAND-WINTER HAVEN, FL 27 $7,035,000 $260,556
KINGSPORT-BRISTOL, TN-VA 39 $6,585,000 $168,846
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 19 $6,205,000 $326,579
AUSTIN-ROUND ROCK-GEORGETOWN, TX 19 $6,165,000 $324,474
JOHNSON CITY, TN 35 $5,475,000 $156,429
LEXINGTON-FAYETTE, KY 21 $4,745,000 $225,952
MACON-BIBB COUNTY, GA 22 $4,310,000 $195,909
NEW ORLEANS-METAIRIE, LA 14 $4,260,000 $304,286
RALEIGH-CARY, NC 13 $4,145,000 $318,846
HUNTSVILLE, AL 20 $4,070,000 $203,500
MONTGOMERY, AL 22 $3,940,000 $179,091
COLORADO SPRINGS, CO 13 $3,875,000 $298,077
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 13 $3,815,000 $293,462
DETROIT-DEARBORN-LIVONIA, MI 11 $3,685,000 $335,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 12 $3,550,000 $295,833
RICHMOND, VA 12 $3,180,000 $265,000
LYNCHBURG, VA 13 $2,755,000 $211,923
GREENVILLE-ANDERSON, SC 10 $2,580,000 $258,000
CHARLOTTESVILLE, VA 7 $2,575,000 $367,857
DAPHNE-FAIRHOPE-FOLEY, AL 13 $2,535,000 $195,000
DAYTON-KETTERING, OH 11 $2,535,000 $230,455
COLUMBIA, SC 12 $2,530,000 $210,833
GAINESVILLE, GA 10 $2,250,000 $225,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 10 $2,220,000 $222,000
GARY, IN 12 $2,190,000 $182,500
TAMPA-ST. PETERSBURG-CLEARWATER, FL 9 $2,085,000 $231,667
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 6 $2,040,000 $340,000
SAN ANTONIO-NEW BRAUNFELS, TX 8 $1,940,000 $242,500
SALT LAKE CITY, UT 7 $1,875,000 $267,857
PHOENIX-MESA-CHANDLER, AZ 6 $1,760,000 $293,333
AUGUSTA-RICHMOND COUNTY, GA-SC 11 $1,725,000 $156,818
OGDEN-CLEARFIELD, UT 8 $1,690,000 $211,250
WILMINGTON, NC 6 $1,450,000 $241,667
GRAND RAPIDS-KENTWOOD, MI 6 $1,350,000 $225,000
Outside of Metro Areas 5 $1,345,000 $269,000
FAYETTEVILLE, NC 7 $1,235,000 $176,429
CLEVELAND-ELYRIA, OH 5 $1,235,000 $247,000
JACKSON, MS 4 $1,200,000 $300,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 6 $1,180,000 $196,667
STAUNTON, VA 4 $1,180,000 $295,000
ST. LOUIS, MO-IL 6 $1,150,000 $191,667
PORT ST. LUCIE, FL 4 $1,090,000 $272,500
JACKSONVILLE, NC 5 $1,025,000 $205,000
SPARTANBURG, SC 6 $940,000 $156,667
WARNER ROBINS, GA 4 $930,000 $232,500
NORTH PORT-SARASOTA-BRADENTON, FL 3 $915,000 $305,000
MIAMI-MIAMI BEACH-KENDALL, FL 3 $905,000 $301,667
COLUMBUS, GA-AL 7 $905,000 $129,286
DURHAM-CHAPEL HILL, NC 4 $900,000 $225,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2 $890,000 $445,000
BEAUMONT-PORT ARTHUR, TX 8 $880,000 $110,000
TUSCALOOSA, AL 5 $875,000 $175,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 2 $830,000 $415,000
TACOMA-LAKEWOOD, WA 2 $820,000 $410,000
BOWLING GREEN, KY 3 $795,000 $265,000
ALBANY, GA 5 $765,000 $153,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 3 $765,000 $255,000
SALISBURY, MD-DE 3 $725,000 $241,667
GREENSBORO-HIGH POINT, NC 5 $665,000 $133,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 3 $645,000 $215,000
HILTON HEAD ISLAND-BLUFFTON, SC 2 $640,000 $320,000
WORCESTER, MA-CT 2 $620,000 $310,000
HICKORY-LENOIR-MORGANTON, NC 2 $610,000 $305,000
HARRISONBURG, VA 2 $590,000 $295,000
SPRINGFIELD, OH 3 $585,000 $195,000
EVANSVILLE, IN-KY 2 $550,000 $275,000
KANSAS CITY, MO-KS 2 $540,000 $270,000
TALLAHASSEE, FL 3 $535,000 $178,333
PROVO-OREM, UT 2 $500,000 $250,000
TRENTON-PRINCETON, NJ 1 $485,000 $485,000
SUMTER, SC 3 $465,000 $155,000
SEBASTIAN-VERO BEACH, FL 1 $455,000 $455,000
OWENSBORO, KY 2 $440,000 $220,000
AUBURN-OPELIKA, AL 3 $435,000 $145,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 3 $435,000 $145,000
TERRE HAUTE, IN 2 $430,000 $215,000
GRAND JUNCTION, CO 2 $420,000 $210,000
FLINT, MI 2 $410,000 $205,000
WINSTON-SALEM, NC 3 $405,000 $135,000
LANSING-EAST LANSING, MI 3 $405,000 $135,000
GREENVILLE, NC 1 $395,000 $395,000
MADISON, WI 2 $390,000 $195,000
ANN ARBOR, MI 1 $375,000 $375,000
BEND, OR 1 $355,000 $355,000
PUEBLO, CO 1 $315,000 $315,000
WINCHESTER, VA-WV 2 $280,000 $140,000
NEWARK, NJ-PA 1 $275,000 $275,000
CHICAGO-NAPERVILLE-EVANSTON, IL 1 $265,000 $265,000
CAMDEN, NJ 1 $265,000 $265,000
OMAHA-COUNCIL BLUFFS, NE-IA 1 $265,000 $265,000
CAPE CORAL-FORT MYERS, FL 1 $255,000 $255,000
SEATTLE-BELLEVUE-KENT, WA 1 $255,000 $255,000
ROCKY MOUNT, NC 1 $255,000 $255,000
GREEN BAY, WI 1 $235,000 $235,000
CANTON-MASSILLON, OH 1 $235,000 $235,000
HAGERSTOWN-MARTINSBURG, MD-WV 1 $235,000 $235,000
ELIZABETHTOWN-FORT KNOX, KY 2 $220,000 $110,000
AKRON, OH 1 $215,000 $215,000
MIDLAND, TX 1 $205,000 $205,000
COLLEGE STATION-BRYAN, TX 1 $205,000 $205,000
BLOOMINGTON, IN 1 $205,000 $205,000
GULFPORT-BILOXI, MS 1 $195,000 $195,000
GOLDSBORO, NC 1 $195,000 $195,000
TYLER, TX 1 $195,000 $195,000
PANAMA CITY, FL 1 $195,000 $195,000
SEBRING-AVON PARK, FL 1 $185,000 $185,000
BURLINGTON, NC 1 $185,000 $185,000
GADSDEN, AL 1 $185,000 $185,000
ROANOKE, VA 1 $165,000 $165,000
SAGINAW, MI 1 $155,000 $155,000
MUNCIE, IN 1 $145,000 $145,000
SOUTH BEND-MISHAWAKA, IN-MI 1 $135,000 $135,000
CLEVELAND, TN 1 $135,000 $135,000
ROME, GA 1 $135,000 $135,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $105,000 $105,000
DECATUR, AL 1 $105,000 $105,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $95,000 $95,000

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% 90 $26,460,000 $294,000
3-4% 3,855 $932,815,000 $241,975
4-5% 2,549 $536,635,000 $210,528
5-6% 207 $40,175,000 $194,082
6-7% 6 $870,000 $145,000
7-8% 3 $185,000 $61,667
Over 8% 3 $115,000 $38,333

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 550 $43,180,000 $78,509
$100k-200k 2,661 $406,425,000 $152,734
$200k-400k 2,929 $810,025,000 $276,553
$400k-600k 540 $246,450,000 $456,389
$600k-1000k 21 $15,225,000 $725,000
$Over $1MM 12 $15,950,000 $1,329,167

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% 147 $21,295,000 $144,864
40-60% 466 $103,270,000 $221,609
60-80% 1,941 $485,225,000 $249,987
80-100% 3,927 $872,155,000 $222,092
Over 100% 203 $51,765,000 $255,000
Under 20% 25 $2,345,000 $93,800

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 1,301 $368,215,000 $283,025
$150k-250k 769 $253,575,000 $329,746
$50k-75k 1,795 $345,825,000 $192,660
$50k-or less 1,460 $201,090,000 $137,733
$75k-100k 1,145 $273,315,000 $238,703
$Over $250k 231 $92,615,000 $400,931

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 5,220 $1,168,180,000 $223,789
Not provided 658 $159,820,000 $242,888
Asian 487 $139,085,000 $285,595
Black 325 $65,295,000 $200,908
American Indian 13 $2,655,000 $204,231
Native Hawaiian 5 $935,000 $187,000
Asian Indian 1 $485,000 $485,000
Other Asian 2 $480,000 $240,000
Other Pacific Islander 1 $175,000 $175,000
Not applicable 1 $145,000 $145,000

Approval Rates

Total approvals of all applications
95.09%

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
87.39%

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 6,713 $1,537,255,000 $228,997

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,418 $812,020,000 $237,572
$1k-2k 1,546 $330,810,000 $213,978
$2k-3k 543 $108,075,000 $199,033
$3k-4k 501 $113,455,000 $226,457
$5k+ 197 $74,895,000 $380,178

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):Site-Built 6,713 $1,537,255,000 $228,997