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: New York, College Station, Miami, Hartford, and Torrington 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
37Origination Dollar Volume (All Markets)
$238,005,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 33 | $202,335,000 | $6,131,364 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $31,605,000 | $31,605,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $2,705,000 | $2,705,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $238,005,000 | $6,432,568 | $0 | 0.00% |
For 2022, Cross River Bank's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 31 | $168,005,000 | $5,419,516 | $0 | 0.00% |
| Home Purchase | 6 | $70,000,000 | $11,666,667 | $0 | 0.00% |
For 2022, Cross River Bank's most frequently cited loan purpose was Refi, with 31 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 | 37 | $238,005,000 | $6,432,568 | $0 | 0.00% |
For 2022, Cross River Bank's most frequently cited loan duration was Other, with 37 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 24 | $229,100,000 | $9,545,833 | $0 | 0.00% |
| $600k-1MM | 9 | $6,815,000 | $757,222 | $0 | 0.00% |
| $400k-600k | 4 | $2,090,000 | $522,500 | $0 | 0.00% |
2022 saw Cross River Bank place emphasis on $1MM+ loans with 24 originations, totaling $229,100,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 37 | $238,005,000 | $6,432,568 | $0 | 0.00% |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 37 | $238,005,000 | $6,432,568 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.83%
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 origination86.49%
Cross River Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 37 | $238,005,000 | $6,432,568 |