Cadence Lending Group Mortgage Rates, Fees & Info
EL PASO, TXLEI: 5493008T2QQO3QJ0EM38
Tax ID: 83-1187266
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Cadence Lending Group is a smaller mortgage company specializing in Home Purchase loans. Cadence Lending Group has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include El Paso, Las Cruces, Austin, Houston, and Dallas among others. Cadence Lending Group has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cadence Lending Group is typically a high fee lendor.Originations
750Origination Dollar Volume (All Markets)
$171,820,000Awards
CADENCE LENDING GROUP - 2021
CADENCE LENDING GROUP is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Cadence Lending Group 's average 30 year fixed rate mortgage of loans were
3.03%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.12%.
Relative Fees
Cadence Lending Group 's average total fees for a 30 year fixed rate
mortgage are $6,138.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| EL PASO, TX (FHA|USDA|VA) | 706 | $160,790,000 | $227,748 | $6,052 | 3.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 16 | $3,930,000 | $245,625 | $6,721 | 2.94% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $6,030 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,340,000 | $223,333 | $4,506 | 2.71% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $5,746 | 2.96% |
| Ruidoso, NM (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $3,584 | 2.63% |
| Alamogordo, NM (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $3,826 | 3.25% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $7,165 | 2.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,998 | 2.88% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,785 | 2.88% |
| Outside of Metro Areas | 1 | $195,000 | $195,000 | $4,935 | 2.75% |
| Andrews, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,391 | 3.13% |
| Rockport, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,624 | 3.63% |
Cadence Lending Group 's top markets include El Paso, Las Cruces, Austin, Houston, and Dallas among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 413 | $97,455,000 | $235,969 | $4,808 | 2.99% |
| FHA | 232 | $45,380,000 | $195,603 | $8,065 | 3.08% |
| VA | 103 | $28,615,000 | $277,816 | $6,309 | 2.79% |
| USDA | 2 | $370,000 | $185,000 | $6,004 | 3.00% |
For the 2021 period, Cadence Lending Group 's most frequently originated loan type of loans were Conventional, with 413 originations. Their 2nd most popular type is FHA, with 232 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 659 | $153,475,000 | $232,891 | $6,282 | 3.01% |
| Refi | 71 | $14,315,000 | $201,620 | $3,972 | 2.77% |
| Cash Out Refi | 18 | $3,680,000 | $204,444 | $4,767 | 3.22% |
| Home Improvement | 2 | $350,000 | $175,000 | $5,609 | 2.69% |
For the 2021, Cadence Lending Group 's most frequently cited loan purpose of loans were Home Purchase, with 659 originations. The 2nd most popular reason of loans were Refi, with 71 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 694 | $160,160,000 | $230,778 | $6,138 | 3.03% |
| 15 Year | 49 | $9,785,000 | $199,694 | $4,520 | 2.52% |
| 20 Year | 6 | $1,760,000 | $293,333 | $5,607 | 2.71% |
| 10 Year | 1 | $115,000 | $115,000 | $3,667 | 2.63% |
For the 2021, Cadence Lending Group 's most frequently cited loan length of loans were 30 Year, with 694 originations. The 2nd most popular length of loans were 15 Year, with 49 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 464 | $106,180,000 | $228,836 |
| $2k-3k | 134 | $27,370,000 | $204,254 |
| $<1k | 109 | $26,605,000 | $244,083 |
| $3k-4k | 33 | $8,805,000 | $266,818 |
| $5k+ | 10 | $2,860,000 | $286,000 |
$6,138 of loans were Cadence Lending Group 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 464 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 339 | $80,075,000 | $236,209 |
| 3-4% | 295 | $64,145,000 | $217,441 |
| <2.5% | 107 | $25,745,000 | $240,607 |
| 4-5% | 9 | $1,855,000 | $206,111 |
During 2021, Cadence Lending Group 's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 339 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 347 | $92,835,000 | $267,536 | $6,546 | 2.95% |
| $100k-200k | 323 | $51,205,000 | $158,529 | $5,453 | 3.05% |
| $400k-600k | 52 | $24,520,000 | $471,538 | $7,181 | 2.88% |
| $100,000 or less | 27 | $2,275,000 | $84,259 | $3,851 | 3.03% |
| $600k-1MM | 1 | $985,000 | $985,000 | $8,267 | 3.25% |
2021 saw Cadence Lending Group place emphasis on $200k-400k loans with 347 originations, totaling $92,835,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 199 | $39,275,000 | $197,362 | $6,324 | 3.06% |
| $100k-150k | 160 | $42,620,000 | $266,375 | $6,102 | 2.96% |
| $75k-100k | 132 | $29,560,000 | $223,939 | $6,145 | 3.00% |
| $50k or less | 128 | $19,180,000 | $149,844 | $5,652 | 2.97% |
| $150k-250k | 86 | $28,470,000 | $331,047 | $5,823 | 2.91% |
| $250k+ | 42 | $12,070,000 | $287,381 | $5,606 | 3.01% |
Cadence Lending Group lent most frequently to those with incomes in the $50k-75k range, with 199 originations. The second most popular income band? $100k-150k, with 160 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 118 | $29,370,000 | $248,898 | $5,730 | 2.92% |
| 20-30% | 101 | $25,145,000 | $248,960 | $5,522 | 2.95% |
| 50-60% | 77 | $17,115,000 | $222,273 | $8,038 | 2.97% |
| <20% | 49 | $12,065,000 | $246,224 | $5,223 | 2.83% |
| 44% | 35 | $8,275,000 | $236,429 | $5,740 | 3.16% |
| 36% | 34 | $6,730,000 | $197,941 | $5,699 | 3.19% |
| 42% | 32 | $7,190,000 | $224,688 | $5,956 | 3.01% |
| 46% | 31 | $6,225,000 | $200,806 | $5,815 | 2.98% |
| 48% | 31 | $7,115,000 | $229,516 | $6,292 | 3.14% |
| 43% | 31 | $7,145,000 | $230,484 | $7,228 | 3.09% |
| 38% | 29 | $5,885,000 | $202,931 | $5,806 | 3.19% |
| 41% | 28 | $6,120,000 | $218,571 | $5,898 | 3.06% |
| 45% | 25 | $5,305,000 | $212,200 | $5,902 | 2.96% |
| 40% | 24 | $5,290,000 | $220,417 | $5,713 | 2.99% |
| 37% | 24 | $5,060,000 | $210,833 | $5,881 | 2.94% |
| 39% | 23 | $6,025,000 | $261,957 | $5,564 | 2.91% |
| 49% | 23 | $4,635,000 | $201,522 | $5,898 | 2.99% |
| 47% | 23 | $4,735,000 | $205,870 | $6,020 | 3.08% |
| >60% | 5 | $1,135,000 | $227,000 | $7,648 | 3.05% |
Cadence Lending Group lent most frequently to those with DTI ratios of 30-36%, with 118 originations. The next most common DTI ratio? 20-30%, with 101 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 636 | $143,070,000 | $224,953 | $5,956 | 3.00% |
| Not provided | 71 | $16,585,000 | $233,592 | $6,247 | 2.98% |
| Black | 17 | $5,415,000 | $318,529 | $7,447 | 2.89% |
| Asian | 20 | $4,620,000 | $231,000 | $5,939 | 2.99% |
| American Indian | 4 | $1,310,000 | $327,500 | $6,326 | 2.66% |
| Other Pacific Islander | 1 | $485,000 | $485,000 | $5,253 | 2.50% |
| Native Hawaiian | 1 | $335,000 | $335,000 | $11,231 | 3.13% |
Approval Rates
Total approvals of all applications97.26%
Cadence Lending Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.89%
Cadence Lending Group has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 750 | $171,820,000 | $229,093 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 750 | $171,820,000 | $229,093 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 3 | $335,000 | $111,667 | $3,874 | 2.96% |
| 40-60% | 31 | $4,835,000 | $155,968 | $3,862 | 2.73% |
| 60-80% | 134 | $30,360,000 | $226,567 | $4,764 | 3.01% |
| 80-100% | 552 | $128,210,000 | $232,264 | $6,224 | 3.01% |
| Over 100% | 28 | $7,970,000 | $284,643 | $11,041 | 2.83% |
| Under 20% | 2 | $110,000 | $55,000 | $2,043 | 2.44% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CADENCE BANCORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |
