Blue Foundry Bank Mortgage Rates, Fees & Info
Rutherford, NJLEI: 5493008TK613NXC2EN84
Tax ID: 22-0780922
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Blue Foundry Bank is a smaller bank specializing in Refi and Home Purchase loans. Blue Foundry Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Philadelphia, Allentown, and Ocean City among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Blue Foundry 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
169Origination Dollar Volume (All Markets)
$322,005,000Top 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) | 158 | $280,170,000 | $1,773,228 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $24,005,000 | $24,005,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 7 | $16,055,000 | $2,293,571 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $1,035,000 | $1,035,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Blue Foundry Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 169 | $322,005,000 | $1,905,355 | $0 | 0.00% |
For 2022, Blue Foundry Bank's most frequently originated type of loan was Conventional, with 169 originations.
Loan Reason
For 2022, Blue Foundry Bank's most frequently cited loan purpose was Refi, with 96 originations. The 2nd most popular reason was Home Purchase, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 169 | $322,005,000 | $1,905,355 | $0 | 0.00% |
For 2022, Blue Foundry Bank's most frequently cited loan duration was Other, with 169 originations.
Loan Sizing
2022 saw Blue Foundry Bank place emphasis on $1MM+ loans with 63 originations, totaling $283,375,000 in origination value.
Applicant Income
Blue Foundry Bank lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $250k+, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 169 | $322,005,000 | $1,905,355 | $0 | 0.00% |
Blue Foundry Bank lent most frequently to those with DTI ratios of Exempt%, with 169 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.00%
Blue Foundry 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 origination88.76%
Blue Foundry Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 169 | $322,005,000 | $1,905,355 |