Community Resource Bank Mortgage Rates, Fees & Info
Northfield, MNLEI: 5493006PPEKKNUB9O715
Tax ID: 41-0448460
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Community Resource Bank is a smaller bank specializing in Home Purchase loans. Community Resource Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Faribault, Phoenix, Red Wing, and Rochester among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Community Resource 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
106Origination Dollar Volume (All Markets)
$37,010,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 70 | $26,470,000 | $378,143 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 18 | $6,600,000 | $366,667 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $1,355,000 | $1,355,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 5 | $1,305,000 | $261,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 106 | $37,010,000 | $349,151 | $0 | 0.00% |
For 2022, Community Resource Bank's most frequently originated type of loan was Conventional, with 106 originations.
Loan Reason
For 2022, Community Resource Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 106 | $37,010,000 | $349,151 | $0 | 0.00% |
For 2022, Community Resource Bank's most frequently cited loan duration was Other, with 106 originations.
Loan Sizing
2022 saw Community Resource Bank place emphasis on $200k-400k loans with 39 originations, totaling $11,245,000 in origination value.
Applicant Income
Community Resource Bank lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 106 | $37,010,000 | $349,151 | $0 | 0.00% |
Community Resource Bank lent most frequently to those with DTI ratios of Exempt%, with 106 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.50%
Community Resource 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 origination91.51%
Community Resource Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 106 | $37,010,000 | $349,151 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | Other type of mortgage | Trouble during payment process | 1 | 33.3% |