Ps Funding Mortgage Rates, Fees & Info

DOVER, DE

LEI: 5493008KVNSBXMICV874

Tax ID: 47-3963268

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ps Funding is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Ps Funding has a high proportion of conventional loans. Their top markets include and Los Angeles among others. Ps Funding has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

2,073

Origination Dollar Volume (All Markets)

$567,985,000

Relative Rate

Ps Funding 's average 30 year fixed rate mortgage of loans were 4.79%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 1.64%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 2,000 $507,070,000 $253,535 $0 5.58%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 73 $60,915,000 $834,452 $0 7.74%

Ps Funding 's top markets include and Los Angeles among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,073 $567,985,000 $273,992 $0 5.65%

For the 2021 period, Ps Funding 's most frequently originated loan type of loans were Conventional, with 2,073 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 847 $202,015,000 $238,506 $0 5.12%
Home Purchase 814 $254,660,000 $312,850 $0 6.56%
Refi 412 $111,310,000 $270,170 $0 4.96%

For the 2021, Ps Funding 's most frequently cited loan purpose of loans were Cash Out Refi, with 847 originations. The 2nd most popular reason of loans were Home Purchase, with 814 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,640 $383,630,000 $233,921 $0 4.79%
Other 419 $181,145,000 $432,327 $0 8.91%
1 Year 14 $3,210,000 $229,286 $0 9.19%

For the 2021, Ps Funding 's most frequently cited loan length of loans were 30 Year, with 1,640 originations. The 2nd most popular length of loans were Other, with 419 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 1,129 $261,945,000 $232,015
5-6% 405 $86,295,000 $213,074
Over 8% 339 $138,955,000 $409,897
3-4% 96 $33,990,000 $354,063
7-8% 85 $39,825,000 $468,529
6-7% 19 $6,975,000 $367,105

During 2021, Ps Funding 's average interest rate of loans were 4.79%, while their most frequently originated rate bucket of loans were 4-5%, with 1,129 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 853 $120,835,000 $141,659 $0 5.30%
$200k-400k 559 $155,655,000 $278,453 $0 6.05%
$100,000 or less 278 $23,280,000 $83,741 $0 5.09%
$400k-600k 181 $87,445,000 $483,122 $0 5.99%
$600k-1MM 151 $113,845,000 $753,940 $0 6.33%
$1MM+ 51 $66,925,000 $1,312,255 $0 7.19%

2021 saw Ps Funding place emphasis on $100k-200k loans with 853 originations, totaling $120,835,000 in origination value.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 1,946 $501,740,000 $257,831 $0 5.46%
Not provided 63 $35,375,000 $561,508 $0 8.30%
White 33 $15,665,000 $474,697 $0 8.89%
Black 12 $7,860,000 $655,000 $0 9.01%
Asian 17 $6,675,000 $392,647 $0 8.71%
Korean 1 $335,000 $335,000 $0 10.00%
Chinese 1 $335,000 $335,000 $0 8.50%

Approval Rates

Total approvals of all applications
80.83%

Ps Funding has a below average approval rate.

Pick Rate

Approvals leading to origination
60.19%

Ps Funding 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
NA 2,073 $567,985,000 $273,992

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,073 $567,985,000 $273,992

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 14 $4,050,000 $289,286 $0 5.46%
40-60% 128 $43,940,000 $343,281 $0 5.13%
60-80% 1,544 $395,230,000 $255,978 $0 5.31%
80-100% 318 $94,240,000 $296,352 $0 6.76%
Over 100% 69 $30,525,000 $442,391 $0 9.26%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
PACE Funding Group, LLC Conventional home mortgage Trouble during payment process 1 100.0%