Ps Funding Mortgage Rates, Fees & Info
DOVER, DELEI: 5493008KVNSBXMICV874
Tax ID: 47-3963268
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
2,073Origination Dollar Volume (All Markets)
$567,985,000Relative 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 applications80.83%
Ps Funding has a below average approval rate.
Pick Rate
Approvals leading to origination60.19%
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% |
