Parkside Lending Llc

SAN FRANCISCO, CA 94102

LEI: 5493009DTDMV4MI5MT96

Tax ID: 37-1493496

2019 Data | 2018 Data


Overview

Parkside Lending Llc is a small mortgage company specializing in Home Purchase and Refi loans. Parkside Lending Llc 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 Chicago, Los Angeles, New York, Oakland, and Anaheim among others. They have an above 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. Parkside Lending Llc is typically a medium-low fee lendor.


Originations

9,595

Origination Dollar Volume (All Markets)

$2,864,805,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 6,467 $2,071,925,000 $320,384
FHA 2,441 $583,845,000 $239,183
VA 612 $196,430,000 $320,964
USDA 75 $12,605,000 $168,067

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 5,819 $1,601,195,000 $275,167
Home Improvement 1 $225,000 $225,000
Refi 2,115 $734,485,000 $347,274
Cash Out Refi 1,660 $528,900,000 $318,614

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
CHICAGO-NAPERVILLE-EVANSTON, IL 2,366 $565,770,000 $239,125
LOS ANGELES-LONG BEACH-GLENDALE, CA 387 $203,965,000 $527,041
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 381 $184,095,000 $483,189
OAKLAND-BERKELEY-LIVERMORE, CA 250 $130,330,000 $521,320
ANAHEIM-SANTA ANA-IRVINE, CA 197 $105,645,000 $536,269
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 284 $87,440,000 $307,887
Outside of Metro Areas 398 $85,050,000 $213,693
MILWAUKEE-WAUKESHA, WI 378 $80,430,000 $212,778
ELGIN, IL 333 $75,205,000 $225,841
LAKE COUNTY-KENOSHA COUNTY, IL-WI 346 $74,280,000 $214,682
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 111 $67,265,000 $605,991
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 179 $61,555,000 $343,883
FRESNO, CA 225 $61,475,000 $273,222
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 114 $57,290,000 $502,544
SACRAMENTO-ROSEVILLE-FOLSOM, CA 126 $48,100,000 $381,746
TAMPA-ST. PETERSBURG-CLEARWATER, FL 223 $46,805,000 $209,888
GREEN BAY, WI 277 $44,055,000 $159,043
PHOENIX-MESA-CHANDLER, AZ 148 $41,020,000 $277,162
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 69 $38,745,000 $561,522
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 98 $37,950,000 $387,245
SEATTLE-BELLEVUE-KENT, WA 64 $27,910,000 $436,094
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 89 $27,445,000 $308,371
VALLEJO, CA 67 $27,435,000 $409,478
SALT LAKE CITY, UT 80 $26,680,000 $333,500
NASSAU COUNTY-SUFFOLK COUNTY, NY 66 $26,060,000 $394,848
SANTA ROSA-PETALUMA, CA 56 $26,000,000 $464,286
MIAMI-MIAMI BEACH-KENDALL, FL 77 $23,925,000 $310,714
NAPA, CA 46 $21,420,000 $465,652
SANTA MARIA-SANTA BARBARA, CA 52 $21,410,000 $411,731
DENVER-AURORA-LAKEWOOD, CO 50 $21,050,000 $421,000
SAN RAFAEL, CA 29 $20,035,000 $690,862
ORLANDO-KISSIMMEE-SANFORD, FL 76 $17,840,000 $234,737
SAN LUIS OBISPO-PASO ROBLES, CA 42 $17,010,000 $405,000
NEWARK, NJ-PA 64 $16,940,000 $264,688
GARY, IN 81 $16,135,000 $199,198
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 66 $13,820,000 $209,394
NEW BRUNSWICK-LAKEWOOD, NJ 45 $13,525,000 $300,556
PROVO-OREM, UT 40 $13,180,000 $329,500
OGDEN-CLEARFIELD, UT 42 $12,670,000 $301,667
BALTIMORE-COLUMBIA-TOWSON, MD 46 $12,630,000 $274,565
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 29 $11,675,000 $402,586
ROCHESTER, NY 79 $11,325,000 $143,354
BAKERSFIELD, CA 47 $11,275,000 $239,894
BRIDGEPORT-STAMFORD-NORWALK, CT 34 $11,010,000 $323,824
OXNARD-THOUSAND OAKS-VENTURA, CA 19 $10,855,000 $571,316
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 39 $10,575,000 $271,154
SEBASTIAN-VERO BEACH, FL 50 $9,910,000 $198,200
SAN ANTONIO-NEW BRAUNFELS, TX 41 $9,765,000 $238,171
LOGAN, UT-ID 39 $9,595,000 $246,026
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 31 $9,075,000 $292,742
RACINE, WI 42 $8,800,000 $209,524
STOCKTON, CA 24 $8,640,000 $360,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 19 $8,355,000 $439,737
JACKSONVILLE, FL 31 $7,355,000 $237,258
NEW HAVEN-MILFORD, CT 32 $6,920,000 $216,250
VISALIA, CA 23 $6,845,000 $297,609
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 23 $6,745,000 $293,261
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 30 $6,430,000 $214,333
NORTH PORT-SARASOTA-BRADENTON, FL 24 $5,960,000 $248,333
LAKELAND-WINTER HAVEN, FL 34 $5,790,000 $170,294
WARREN-TROY-FARMINGTON HILLS, MI 27 $5,515,000 $204,259
MADERA, CA 23 $5,485,000 $238,478
CHATTANOOGA, TN-GA 24 $5,390,000 $224,583
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 23 $5,375,000 $233,696
MANCHESTER-NASHUA, NH 17 $5,135,000 $302,059
PORT ST. LUCIE, FL 25 $5,105,000 $204,200
BARNSTABLE TOWN, MA 10 $5,010,000 $501,000
JACKSON, MS 25 $4,715,000 $188,600
AUSTIN-ROUND ROCK-GEORGETOWN, TX 14 $4,640,000 $331,429
HOMOSASSA SPRINGS, FL 32 $4,400,000 $137,500
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 22 $4,230,000 $192,273
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 12 $3,990,000 $332,500
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 11 $3,895,000 $354,091
APPLETON, WI 19 $3,575,000 $188,158
SALINAS, CA 9 $3,565,000 $396,111
MADISON, WI 16 $3,400,000 $212,500
MODESTO, CA 11 $3,195,000 $290,455
PITTSBURGH, PA 19 $3,185,000 $167,632
KANKAKEE, IL 21 $2,935,000 $139,762
DETROIT-DEARBORN-LIVONIA, MI 15 $2,875,000 $191,667
CAPE CORAL-FORT MYERS, FL 10 $2,800,000 $280,000
BUFFALO-CHEEKTOWAGA, NY 15 $2,625,000 $175,000
FARGO, ND-MN 11 $2,415,000 $219,545
ROCKFORD, IL 14 $2,300,000 $164,286
WICHITA, KS 11 $2,195,000 $199,545
NAPLES-MARCO ISLAND, FL 7 $2,195,000 $313,571
MERCED, CA 8 $2,180,000 $272,500
SANTA CRUZ-WATSONVILLE, CA 5 $1,945,000 $389,000
BOSTON, MA 6 $1,940,000 $323,333
OSHKOSH-NEENAH, WI 13 $1,905,000 $146,538
HANFORD-CORCORAN, CA 10 $1,870,000 $187,000
MICHIGAN CITY-LA PORTE, IN 10 $1,850,000 $185,000
WORCESTER, MA-CT 6 $1,830,000 $305,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 4 $1,810,000 $452,500
SANTA FE, NM 2 $1,770,000 $885,000
MEMPHIS, TN-MS-AR 4 $1,710,000 $427,500
INDIANAPOLIS-CARMEL-ANDERSON, IN 7 $1,695,000 $242,143
SCRANTON--WILKES-BARRE, PA 13 $1,625,000 $125,000
CHARLESTON-NORTH CHARLESTON, SC 3 $1,585,000 $528,333
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 5 $1,515,000 $303,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 5 $1,425,000 $285,000
LA CROSSE-ONALASKA, WI-MN 8 $1,410,000 $176,250
KINGSTON, NY 6 $1,360,000 $226,667
HATTIESBURG, MS 9 $1,335,000 $148,333
FOND DU LAC, WI 9 $1,315,000 $146,111
OLYMPIA-LACEY-TUMWATER, WA 4 $1,310,000 $327,500
YUBA CITY, CA 4 $1,270,000 $317,500
SHEBOYGAN, WI 9 $1,255,000 $139,444
ST. CLOUD, MN 5 $1,245,000 $249,000
CHICO, CA 4 $1,220,000 $305,000
BIRMINGHAM-HOOVER, AL 6 $1,210,000 $201,667
NORWICH-NEW LONDON, CT 5 $1,195,000 $239,000
CAMDEN, NJ 5 $1,185,000 $237,000
FORT COLLINS, CO 4 $1,180,000 $295,000
COLORADO SPRINGS, CO 4 $1,160,000 $290,000
SALEM, OR 3 $1,145,000 $381,667
BEND, OR 4 $1,130,000 $282,500
BATON ROUGE, LA 6 $1,120,000 $186,667
NEW ORLEANS-METAIRIE, LA 1 $1,115,000 $1,115,000
PROVIDENCE-WARWICK, RI-MA 4 $1,090,000 $272,500
EAST STROUDSBURG, PA 4 $1,090,000 $272,500
TACOMA-LAKEWOOD, WA 4 $1,080,000 $270,000
LAKE HAVASU CITY-KINGMAN, AZ 5 $1,075,000 $215,000
CLEVELAND-ELYRIA, OH 4 $1,060,000 $265,000
RALEIGH-CARY, NC 4 $1,060,000 $265,000
KANSAS CITY, MO-KS 5 $1,055,000 $211,000
GREELEY, CO 3 $995,000 $331,667
NILES, MI 3 $975,000 $325,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 3 $955,000 $318,333
ST. GEORGE, UT 5 $945,000 $189,000
DALLAS-PLANO-IRVING, TX 4 $920,000 $230,000
OCALA, FL 6 $900,000 $150,000
ST. LOUIS, MO-IL 4 $890,000 $222,500
PENSACOLA-FERRY PASS-BRENT, FL 3 $835,000 $278,333
JANESVILLE-BELOIT, WI 5 $825,000 $165,000
EAU CLAIRE, WI 4 $770,000 $192,500
RICHMOND, VA 2 $740,000 $370,000
PUNTA GORDA, FL 3 $695,000 $231,667
SOUTH BEND-MISHAWAKA, IN-MI 2 $670,000 $335,000
WILMINGTON, DE-MD-NJ 4 $650,000 $162,500
PHILADELPHIA, PA 3 $645,000 $215,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 4 $640,000 $160,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 2 $620,000 $310,000
LANSING-EAST LANSING, MI 3 $575,000 $191,667
TRENTON-PRINCETON, NJ 12 $570,000 $47,500
TUCSON, AZ 2 $540,000 $270,000
WACO, TX 2 $530,000 $265,000
YORK-HANOVER, PA 3 $525,000 $175,000
CINCINNATI, OH-KY-IN 2 $520,000 $260,000
BOISE CITY, ID 2 $490,000 $245,000
GAINESVILLE, FL 3 $465,000 $155,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 2 $460,000 $230,000
CARSON CITY, NV 2 $460,000 $230,000
EL CENTRO, CA 1 $425,000 $425,000
RENO, NV 2 $400,000 $200,000
PUEBLO, CO 2 $400,000 $200,000
BELLINGHAM, WA 1 $385,000 $385,000
WAUSAU-WESTON, WI 3 $365,000 $121,667
COLUMBUS, OH 2 $360,000 $180,000
ALBUQUERQUE, NM 2 $350,000 $175,000
COLUMBIA, SC 1 $325,000 $325,000
GULFPORT-BILOXI, MS 2 $320,000 $160,000
SPOKANE-SPOKANE VALLEY, WA 1 $315,000 $315,000
CALIFORNIA-LEXINGTON PARK, MD 1 $305,000 $305,000
SYRACUSE, NY 2 $300,000 $150,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $285,000 $285,000
MOUNT VERNON-ANACORTES, WA 1 $275,000 $275,000
GOLDSBORO, NC 1 $275,000 $275,000
BILLINGS, MT 2 $270,000 $135,000
CARBONDALE-MARION, IL 1 $265,000 $265,000
FLINT, MI 2 $260,000 $130,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 1 $255,000 $255,000
ANNISTON-OXFORD, AL 1 $255,000 $255,000
PEORIA, IL 3 $255,000 $85,000
GETTYSBURG, PA 1 $255,000 $255,000
ALBANY-SCHENECTADY-TROY, NY 1 $235,000 $235,000
PANAMA CITY, FL 1 $235,000 $235,000
WILMINGTON, NC 2 $230,000 $115,000
MOBILE, AL 1 $225,000 $225,000
ALBANY-LEBANON, OR 1 $215,000 $215,000
GRAND RAPIDS-KENTWOOD, MI 1 $215,000 $215,000
SPRINGFIELD, MA 1 $215,000 $215,000
LONGVIEW, TX 1 $205,000 $205,000
SAVANNAH, GA 1 $195,000 $195,000
KNOXVILLE, TN 1 $195,000 $195,000
THE VILLAGES, FL 1 $185,000 $185,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $185,000 $185,000
GLENS FALLS, NY 1 $185,000 $185,000
SPRINGFIELD, IL 1 $185,000 $185,000
CLARKSVILLE, TN-KY 1 $175,000 $175,000
TOLEDO, OH 1 $175,000 $175,000
ALTOONA, PA 1 $175,000 $175,000
CHAMPAIGN-URBANA, IL 1 $175,000 $175,000
HARRISBURG-CARLISLE, PA 1 $155,000 $155,000
BROWNSVILLE-HARLINGEN, TX 1 $155,000 $155,000
BURLINGTON, NC 1 $155,000 $155,000
LAFAYETTE, LA 1 $145,000 $145,000
MONROE, MI 1 $145,000 $145,000
ELIZABETHTOWN-FORT KNOX, KY 1 $145,000 $145,000
REDDING, CA 1 $145,000 $145,000
DALTON, GA 1 $135,000 $135,000
GREENSBORO-HIGH POINT, NC 1 $135,000 $135,000
FLAGSTAFF, AZ 1 $125,000 $125,000
YAKIMA, WA 1 $125,000 $125,000
LAREDO, TX 1 $125,000 $125,000
EVANSVILLE, IN-KY 1 $115,000 $115,000
MCALLEN-EDINBURG-MISSION, TX 1 $115,000 $115,000
ROCKY MOUNT, NC 1 $105,000 $105,000
TALLAHASSEE, FL 1 $105,000 $105,000
JOHNSTOWN, PA 1 $95,000 $95,000
KILLEEN-TEMPLE, TX 1 $95,000 $95,000
BINGHAMTON, NY 1 $85,000 $85,000
WICHITA FALLS, TX 1 $65,000 $65,000
AKRON, OH 1 $65,000 $65,000

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% 54 $340,000 $6,296
2.5-3% 37 $10,525,000 $284,459
3-4% 3,537 $1,098,255,000 $310,505
4-5% 4,802 $1,422,170,000 $296,162
5-6% 1,052 $298,470,000 $283,717
6-7% 95 $29,225,000 $307,632
7-8% 9 $3,725,000 $413,889
Over 8% 4 $2,070,000 $517,500

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 557 $37,375,000 $67,101
$100k-200k 2,734 $421,300,000 $154,097
$200k-400k 4,162 $1,177,900,000 $283,013
$400k-600k 1,526 $721,220,000 $472,621
$600k-1000k 513 $369,555,000 $720,380
$Over $1MM 103 $137,455,000 $1,334,515

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% 7 $1,495,000 $213,571
40-60% 22 $6,120,000 $278,182
60-80% 38 $17,860,000 $470,000
80-100% 53 $12,795,000 $241,415
Under 20% 1 $165,000 $165,000

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 2,065 $696,385,000 $337,232
$150k-250k 1,307 $548,345,000 $419,545
$50k-75k 2,306 $477,240,000 $206,956
$50k-or less 1,558 $283,780,000 $182,144
$75k-100k 1,781 $491,175,000 $275,786
$Over $250k 573 $366,355,000 $639,363

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,509 $2,176,635,000 $289,870
Not provided 880 $280,780,000 $319,068
Asian 580 $243,080,000 $419,103
Black 576 $145,470,000 $252,552
American Indian 21 $7,115,000 $338,810
Native Hawaiian 19 $5,645,000 $297,105
Chinese 5 $3,505,000 $701,000
Asian Indian 5 $2,575,000 $515,000

Approval Rates

Total approvals of all applications
92.74%

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
67.02%

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 9,595 $2,864,805,000 $298,573

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,683 $402,255,000 $239,011
$1k-2k 5,073 $1,455,885,000 $286,987
$2k-3k 793 $211,685,000 $266,942
$3k-4k 885 $276,675,000 $312,627
$5k+ 1,055 $513,155,000 $486,403

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 48 $8,090,000 $168,542
Single Family (1-4 Units):Site-Built 9,547 $2,856,715,000 $299,226