Jmac Lending Incorporated

Santa Ana, CA 92705

LEI: 5493009B17HXCVXTD608

Tax ID: 26-0707492

2019 Data | 2018 Data


Overview

Jmac Lending Incorporated is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Jmac Lending Incorporated 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 Los Angeles, Anaheim, Oakland, San Jose, and San Diego among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Jmac Lending Incorporated is typically a low fee medium-low fee lendor.


Originations

4,360

Origination Dollar Volume (All Markets)

$1,975,100,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 3,339 $1,642,825,000 $492,011
FHA 713 $222,335,000 $311,830
VA 289 $106,095,000 $367,111
USDA 19 $3,845,000 $202,368

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 1,722 $809,760,000 $470,244
Refi 1,323 $630,815,000 $476,807
Cash Out Refi 1,315 $534,525,000 $406,483

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
LOS ANGELES-LONG BEACH-GLENDALE, CA 566 $322,840,000 $570,389
ANAHEIM-SANTA ANA-IRVINE, CA 498 $263,270,000 $528,655
OAKLAND-BERKELEY-LIVERMORE, CA 294 $171,290,000 $582,619
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 180 $139,460,000 $774,778
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 209 $131,895,000 $631,077
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 375 $128,775,000 $343,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 109 $97,785,000 $897,110
PHOENIX-MESA-CHANDLER, AZ 278 $75,010,000 $269,820
SACRAMENTO-ROSEVILLE-FOLSOM, CA 182 $69,610,000 $382,473
SEATTLE-BELLEVUE-KENT, WA 72 $42,590,000 $591,528
LAS VEGAS-HENDERSON-PARADISE, NV 134 $35,480,000 $264,776
SANTA MARIA-SANTA BARBARA, CA 88 $32,590,000 $370,341
SAN LUIS OBISPO-PASO ROBLES, CA 72 $30,780,000 $427,500
Outside of Metro Areas 74 $29,730,000 $401,757
DALLAS-PLANO-IRVING, TX 85 $23,835,000 $280,412
URBAN HONOLULU, HI 34 $21,120,000 $621,176
DENVER-AURORA-LAKEWOOD, CO 55 $18,905,000 $343,727
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 78 $18,900,000 $242,308
SAN RAFAEL, CA 28 $18,250,000 $651,786
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 61 $17,255,000 $282,869
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 61 $17,035,000 $279,262
OXNARD-THOUSAND OAKS-VENTURA, CA 32 $15,710,000 $490,938
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 42 $14,290,000 $340,238
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 32 $13,790,000 $430,938
TAMPA-ST. PETERSBURG-CLEARWATER, FL 54 $13,470,000 $249,444
SANTA CRUZ-WATSONVILLE, CA 18 $13,410,000 $745,000
ORLANDO-KISSIMMEE-SANFORD, FL 52 $12,370,000 $237,885
STOCKTON, CA 29 $10,445,000 $360,172
VALLEJO, CA 28 $9,800,000 $350,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 16 $8,360,000 $522,500
TUCSON, AZ 25 $8,345,000 $333,800
SALINAS, CA 15 $8,165,000 $544,333
MODESTO, CA 27 $7,765,000 $287,593
AUSTIN-ROUND ROCK-GEORGETOWN, TX 23 $7,565,000 $328,913
FORT WORTH-ARLINGTON-GRAPEVINE, TX 37 $7,535,000 $203,649
SANTA ROSA-PETALUMA, CA 14 $6,560,000 $468,571
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 21 $5,965,000 $284,048
BOULDER, CO 9 $5,545,000 $616,111
TACOMA-LAKEWOOD, WA 17 $5,175,000 $304,412
BAKERSFIELD, CA 18 $4,810,000 $267,222
MIAMI-MIAMI BEACH-KENDALL, FL 17 $4,435,000 $260,882
NAPA, CA 8 $4,430,000 $553,750
SALT LAKE CITY, UT 12 $3,740,000 $311,667
RENO, NV 13 $3,625,000 $278,846
PORT ST. LUCIE, FL 14 $3,250,000 $232,143
OCALA, FL 21 $3,185,000 $151,667
FRESNO, CA 10 $2,680,000 $268,000
JACKSONVILLE, FL 8 $2,650,000 $331,250
MERCED, CA 9 $2,385,000 $265,000
CHARLESTON-NORTH CHARLESTON, SC 6 $2,340,000 $390,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 3 $2,225,000 $741,667
SALEM, OR 6 $2,180,000 $363,333
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 11 $2,135,000 $194,091
BALTIMORE-COLUMBIA-TOWSON, MD 8 $2,090,000 $261,250
SAN ANTONIO-NEW BRAUNFELS, TX 8 $2,060,000 $257,500
LAKELAND-WINTER HAVEN, FL 9 $1,895,000 $210,556
PRESCOTT VALLEY-PRESCOTT, AZ 6 $1,660,000 $276,667
VISALIA, CA 7 $1,635,000 $233,571
KNOXVILLE, TN 4 $1,630,000 $407,500
PROVO-OREM, UT 4 $1,600,000 $400,000
RICHMOND, VA 2 $1,580,000 $790,000
OGDEN-CLEARFIELD, UT 6 $1,570,000 $261,667
COLORADO SPRINGS, CO 4 $1,540,000 $385,000
KENNEWICK-RICHLAND, WA 5 $1,515,000 $303,000
GREELEY, CO 4 $1,470,000 $367,500
HANFORD-CORCORAN, CA 7 $1,395,000 $199,286
NORTH PORT-SARASOTA-BRADENTON, FL 6 $1,390,000 $231,667
SPOKANE-SPOKANE VALLEY, WA 6 $1,360,000 $226,667
BREMERTON-SILVERDALE-PORT ORCHARD, WA 3 $1,255,000 $418,333
SEBASTIAN-VERO BEACH, FL 1 $1,255,000 $1,255,000
REDDING, CA 4 $1,210,000 $302,500
LAKE HAVASU CITY-KINGMAN, AZ 4 $1,160,000 $290,000
YUBA CITY, CA 5 $1,115,000 $223,000
EUGENE-SPRINGFIELD, OR 3 $995,000 $331,667
OLYMPIA-LACEY-TUMWATER, WA 4 $980,000 $245,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 4 $940,000 $235,000
BEND, OR 3 $915,000 $305,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $905,000 $905,000
CHICO, CA 4 $900,000 $225,000
BOISE CITY, ID 1 $895,000 $895,000
MADERA, CA 3 $855,000 $285,000
FLAGSTAFF, AZ 2 $770,000 $385,000
PENSACOLA-FERRY PASS-BRENT, FL 5 $665,000 $133,000
KAHULUI-WAILUKU-LAHAINA, HI 1 $635,000 $635,000
ATHENS-CLARKE COUNTY, GA 2 $600,000 $300,000
PUEBLO, CO 3 $595,000 $198,333
FORT COLLINS, CO 2 $530,000 $265,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $500,000 $250,000
SHERMAN-DENISON, TX 2 $490,000 $245,000
ALBANY-LEBANON, OR 2 $480,000 $240,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 1 $475,000 $475,000
SIERRA VISTA-DOUGLAS, AZ 2 $470,000 $235,000
HILTON HEAD ISLAND-BLUFFTON, SC 2 $470,000 $235,000
WACO, TX 2 $460,000 $230,000
GAINESVILLE, GA 2 $440,000 $220,000
ODESSA, TX 1 $345,000 $345,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1 $345,000 $345,000
WILMINGTON, NC 1 $335,000 $335,000
SAVANNAH, GA 1 $325,000 $325,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $315,000 $315,000
JOHNSON CITY, TN 1 $315,000 $315,000
GREENSBORO-HIGH POINT, NC 1 $275,000 $275,000
GRANTS PASS, OR 1 $265,000 $265,000
RALEIGH-CARY, NC 1 $255,000 $255,000
MEDFORD, OR 1 $245,000 $245,000
YAKIMA, WA 1 $235,000 $235,000
HOMOSASSA SPRINGS, FL 2 $230,000 $115,000
KILLEEN-TEMPLE, TX 1 $185,000 $185,000
SAN ANGELO, TX 1 $165,000 $165,000
FLORENCE, SC 1 $165,000 $165,000
CORPUS CHRISTI, TX 1 $155,000 $155,000
CLEVELAND-ELYRIA, OH 1 $145,000 $145,000
COLUMBUS, OH 1 $145,000 $145,000
BEAUMONT-PORT ARTHUR, TX 1 $135,000 $135,000
LONGVIEW, TX 1 $125,000 $125,000
MIDLAND, TX 1 $115,000 $115,000
ALBANY, GA 1 $95,000 $95,000
CARSON CITY, NV 1 $95,000 $95,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
2.5-3% 76 $30,250,000 $398,026
3-4% 2,047 $883,285,000 $431,502
4-5% 1,688 $774,870,000 $459,046
5-6% 382 $196,390,000 $514,110
6-7% 112 $69,140,000 $617,321
7-8% 44 $17,800,000 $404,545
Over 8% 11 $3,365,000 $305,909

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 27 $2,165,000 $80,185
$100k-200k 527 $84,245,000 $159,858
$200k-400k 1,884 $556,990,000 $295,642
$400k-600k 1,038 $492,570,000 $474,538
$600k-1000k 625 $479,255,000 $766,808
$Over $1MM 259 $359,875,000 $1,389,479

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 190 $65,170,000 $343,000
40-60% 712 $326,570,000 $458,666
60-80% 1,820 $912,560,000 $501,407
80-100% 1,569 $650,545,000 $414,624
Over 100% 43 $15,205,000 $353,605
Under 20% 26 $5,050,000 $194,231

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 977 $388,865,000 $398,019
$150k-250k 861 $475,905,000 $552,735
$50k-75k 689 $182,715,000 $265,189
$50k-or less 572 $158,290,000 $276,731
$75k-100k 684 $229,330,000 $335,278
$Over $250k 577 $539,995,000 $935,867

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 2,539 $1,150,725,000 $453,220
Asian 841 $403,705,000 $480,030
Not provided 692 $318,800,000 $460,694
Black 220 $72,310,000 $328,682
Native Hawaiian 25 $14,475,000 $579,000
American Indian 34 $11,350,000 $333,824
Asian Indian 5 $2,465,000 $493,000
Other Asian 2 $920,000 $460,000
Other Pacific Islander 1 $175,000 $175,000
Korean 1 $175,000 $175,000

Approval Rates

Total approvals of all applications
71.89%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
79.93%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 4,360 $1,975,100,000 $453,005

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,637 $590,715,000 $360,852
$1k-2k 981 $505,075,000 $514,857
$2k-3k 381 $137,675,000 $361,352
$3k-4k 549 $213,365,000 $388,643
$5k+ 812 $528,270,000 $650,579

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 17 $3,535,000 $207,941
Single Family (1-4 Units):Site-Built 4,343 $1,971,565,000 $453,964