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 and Refi loans. Preferred Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Jose, New York, and San Francisco among others. We have data for 10 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
241Origination Dollar Volume (All Markets)
$291,105,000Top 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) | 124 | $151,810,000 | $1,224,274 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 89 | $48,235,000 | $541,966 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 5 | $31,595,000 | $6,319,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $29,045,000 | $4,149,286 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $14,145,000 | $2,020,714 | $0 | 0.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $7,455,000 | $7,455,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $4,040,000 | $1,010,000 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $2,285,000 | $2,285,000 | $0 | 0.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 241 | $291,105,000 | $1,207,905 | $0 | 0.00% |
For 2022, Preferred Bank's most frequently originated type of loan was Conventional, with 241 originations.
Loan Reason
For 2022, Preferred Bank's most frequently cited loan purpose was Home Purchase, with 186 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 241 | $291,105,000 | $1,207,905 | $0 | 0.00% |
For 2022, Preferred Bank's most frequently cited loan duration was Other, with 241 originations.
Loan Sizing
2022 saw Preferred Bank place emphasis on $400k-600k loans with 83 originations, totaling $41,955,000 in origination value.
Applicant Income
Preferred Bank lent most frequently to those with incomes in the $250k+ range, with 123 originations. The second most popular income band? $150k-250k, with 58 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 241 | $291,105,000 | $1,207,905 | $0 | 0.00% |
Preferred Bank lent most frequently to those with DTI ratios of Exempt%, with 241 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.74%
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 origination79.25%
Preferred Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 241 | $291,105,000 | $1,207,905 |