Cross River Bank Mortgage Rates, Fees & Info
Teaneck, NJLEI: 5493007V8ZEVXWVS3567
Tax ID: 26-1942598
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Cross River Bank is a smaller bank specializing in Refi and Home Purchase loans. Cross River Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fort Wayne, New York, Atlanta, Urban Honolulu, and Norwich among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Cross River 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
22Origination Dollar Volume (All Markets)
$224,780,000Top 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 |
|---|---|---|---|---|---|
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $81,705,000 | $81,705,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 18 | $53,730,000 | $2,985,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $45,205,000 | $45,205,000 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $42,005,000 | $42,005,000 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $2,135,000 | $2,135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $224,780,000 | $10,217,273 | $0 | 0.00% |
For 2023, Cross River Bank's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 16 | $123,090,000 | $7,693,125 | $0 | 0.00% |
| Home Purchase | 6 | $101,690,000 | $16,948,333 | $0 | 0.00% |
For 2023, Cross River Bank's most frequently cited loan purpose was Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 22 | $224,780,000 | $10,217,273 | $0 | 0.00% |
For 2023, Cross River Bank's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 18 | $222,420,000 | $12,356,667 | $0 | 0.00% |
| $400k-600k | 3 | $1,555,000 | $518,333 | $0 | 0.00% |
| $600k-1MM | 1 | $805,000 | $805,000 | $0 | 0.00% |
2023 saw Cross River Bank place emphasis on $1MM+ loans with 18 originations, totaling $222,420,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 22 | $224,780,000 | $10,217,273 | $0 | 0.00% |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 22 | $224,780,000 | $10,217,273 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.14%
Cross River 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 origination63.64%
Cross River Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 22 | $224,780,000 | $10,217,273 |