Preferred Bank Mortgage Rates, Fees & Info
Los Angeles, CALEI: 5493007K6HGI9G0ECX16
Tax ID: 95-4340199
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Preferred Bank is a smaller bank specializing in Home Purchase loans. Preferred Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, New York, San Francisco, and San Jose among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Preferred Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
233Origination Dollar Volume (All Markets)
$196,545,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 146 | $135,160,000 | $925,753 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 65 | $35,365,000 | $544,077 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $15,790,000 | $2,631,667 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $4,295,000 | $859,000 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,770,000 | $885,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,485,000 | $495,000 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 233 | $196,545,000 | $843,541 | $0 | 0.00% |
For 2023, Preferred Bank's most frequently originated type of loan was Conventional, with 233 originations.
Loan Reason
For 2023, Preferred Bank's most frequently cited loan purpose was Home Purchase, with 210 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 233 | $196,545,000 | $843,541 | $0 | 0.00% |
For 2023, Preferred Bank's most frequently cited loan duration was Other, with 233 originations.
Loan Sizing
2023 saw Preferred Bank place emphasis on $400k-600k loans with 89 originations, totaling $45,595,000 in origination value.
Applicant Income
Preferred Bank lent most frequently to those with incomes in the $250k+ range, with 68 originations. The second most popular income band? $150k-250k, with 63 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 233 | $196,545,000 | $843,541 | $0 | 0.00% |
Preferred Bank lent most frequently to those with DTI ratios of Exempt%, with 233 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.47%
Preferred 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 origination82.83%
Preferred Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 233 | $196,545,000 | $843,541 |