Home Point Financial Corporation

Ann Arbor, MI 48105

LEI: 549300BRJZYHYKT4BJ84

Tax ID: 20-8921389

2019 Data *Active* | 2018 Data


Overview

Home Point Financial Corporation is a large mortgage company specializing in Home Purchase and Refi loans. Home Point Financial Corporation 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, Chicago, Riverside, San Diego, 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. Home Point Financial Corporation is typically a low/ medium-low/ fee lendor.


Originations

44,035

Origination Dollar Volume (All Markets)

$12,587,775,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 23,217 $6,806,175,000 $293,155
FHA 11,531 $2,868,965,000 $248,805
VA 7,946 $2,698,160,000 $339,562
USDA 1,341 $214,475,000 $159,937

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 23,337 $6,080,635,000 $260,558
Home Improvement 291 $85,095,000 $292,423
Refi 13,669 $4,467,345,000 $326,823
Cash Out Refi 6,738 $1,954,700,000 $290,101

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 1,557 $704,055,000 $452,187
Outside of Metro Areas 3,137 $611,435,000 $194,911
CHICAGO-NAPERVILLE-EVANSTON, IL 1,881 $478,535,000 $254,405
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,414 $475,690,000 $336,414
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 980 $459,660,000 $469,041
ANAHEIM-SANTA ANA-IRVINE, CA 771 $387,975,000 $503,210
DENVER-AURORA-LAKEWOOD, CO 1,001 $353,755,000 $353,402
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 826 $318,960,000 $386,150
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,142 $294,800,000 $258,144
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 694 $285,140,000 $410,865
LAS VEGAS-HENDERSON-PARADISE, NV 999 $259,415,000 $259,675
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1,120 $258,070,000 $230,420
PHOENIX-MESA-CHANDLER, AZ 937 $256,565,000 $273,815
SACRAMENTO-ROSEVILLE-FOLSOM, CA 712 $234,470,000 $329,312
NEWARK, NJ-PA 671 $228,815,000 $341,006
OAKLAND-BERKELEY-LIVERMORE, CA 463 $210,935,000 $455,583
URBAN HONOLULU, HI 332 $189,050,000 $569,428
NEW BRUNSWICK-LAKEWOOD, NJ 470 $155,980,000 $331,872
SEATTLE-BELLEVUE-KENT, WA 328 $147,870,000 $450,823
LOUISVILLE/JEFFERSON COUNTY, KY-IN 668 $139,970,000 $209,536
FRESNO, CA 482 $131,350,000 $272,510
ORLANDO-KISSIMMEE-SANFORD, FL 530 $129,220,000 $243,811
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 486 $124,740,000 $256,667
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 229 $116,725,000 $509,716
DALLAS-PLANO-IRVING, TX 412 $116,390,000 $282,500
MODESTO, CA 427 $116,025,000 $271,721
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 378 $111,430,000 $294,788
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 397 $110,775,000 $279,030
SALT LAKE CITY, UT 342 $107,890,000 $315,468
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 191 $104,735,000 $548,351
NORTH PORT-SARASOTA-BRADENTON, FL 391 $99,115,000 $253,491
LAFAYETTE, LA 446 $96,370,000 $216,076
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 347 $93,115,000 $268,343
STOCKTON, CA 298 $89,840,000 $301,477
COLORADO SPRINGS, CO 278 $84,280,000 $303,165
MIAMI-MIAMI BEACH-KENDALL, FL 275 $83,825,000 $304,818
PROVIDENCE-WARWICK, RI-MA 295 $79,575,000 $269,746
BALTIMORE-COLUMBIA-TOWSON, MD 248 $75,000,000 $302,419
NASSAU COUNTY-SUFFOLK COUNTY, NY 184 $74,650,000 $405,707
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 191 $72,565,000 $379,921
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 264 $71,760,000 $271,818
KANSAS CITY, MO-KS 306 $71,090,000 $232,320
HARRISBURG-CARLISLE, PA 359 $70,625,000 $196,727
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 195 $66,885,000 $343,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 188 $66,780,000 $355,213
WARREN-TROY-FARMINGTON HILLS, MI 286 $64,070,000 $224,021
OXNARD-THOUSAND OAKS-VENTURA, CA 128 $62,420,000 $487,656
BRIDGEPORT-STAMFORD-NORWALK, CT 176 $60,810,000 $345,511
PHILADELPHIA, PA 285 $60,565,000 $212,509
ALBANY-SCHENECTADY-TROY, NY 314 $60,220,000 $191,783
SANTA ROSA-PETALUMA, CA 126 $57,930,000 $459,762
BOSTON, MA 150 $57,710,000 $384,733
DAPHNE-FAIRHOPE-FOLEY, AL 233 $56,865,000 $244,056
LAKE COUNTY-KENOSHA COUNTY, IL-WI 207 $54,245,000 $262,053
BIRMINGHAM-HOOVER, AL 229 $52,905,000 $231,026
WILMINGTON, DE-MD-NJ 200 $52,830,000 $264,150
BAKERSFIELD, CA 243 $51,775,000 $213,066
BATON ROUGE, LA 219 $51,325,000 $234,361
JACKSONVILLE, FL 209 $50,945,000 $243,756
PITTSBURGH, PA 269 $49,855,000 $185,335
NEW ORLEANS-METAIRIE, LA 197 $49,605,000 $251,802
COLUMBUS, OH 235 $48,555,000 $206,617
ST. LOUIS, MO-IL 235 $48,415,000 $206,021
VALLEJO, CA 126 $47,060,000 $373,492
TACOMA-LAKEWOOD, WA 135 $45,575,000 $337,593
AUSTIN-ROUND ROCK-GEORGETOWN, TX 158 $45,510,000 $288,038
HUNTSVILLE, AL 182 $45,260,000 $248,681
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 191 $44,555,000 $233,272
BARNSTABLE TOWN, MA 145 $44,465,000 $306,655
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 163 $43,775,000 $268,558
FORT WORTH-ARLINGTON-GRAPEVINE, TX 175 $41,025,000 $234,429
CAPE CORAL-FORT MYERS, FL 173 $39,895,000 $230,607
BUFFALO-CHEEKTOWAGA, NY 215 $39,525,000 $183,837
CLEVELAND-ELYRIA, OH 209 $39,515,000 $189,067
GREELEY, CO 124 $38,960,000 $314,194
WORCESTER, MA-CT 151 $37,215,000 $246,457
CAMDEN, NJ 181 $36,985,000 $204,337
ELGIN, IL 150 $36,900,000 $246,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 147 $36,655,000 $249,354
LAKELAND-WINTER HAVEN, FL 189 $36,535,000 $193,307
RALEIGH-CARY, NC 129 $35,945,000 $278,643
INDIANAPOLIS-CARMEL-ANDERSON, IN 183 $35,705,000 $195,109
OGDEN-CLEARFIELD, UT 125 $35,675,000 $285,400
BOULDER, CO 80 $33,740,000 $421,750
CHARLESTON-NORTH CHARLESTON, SC 116 $33,120,000 $285,517
NEW HAVEN-MILFORD, CT 144 $32,870,000 $228,264
PENSACOLA-FERRY PASS-BRENT, FL 120 $32,550,000 $271,250
SAN ANTONIO-NEW BRAUNFELS, TX 112 $29,540,000 $263,750
PROVO-OREM, UT 95 $28,695,000 $302,053
FORT COLLINS, CO 96 $28,670,000 $298,646
LAKE CHARLES, LA 139 $27,815,000 $200,108
SAN LUIS OBISPO-PASO ROBLES, CA 59 $27,375,000 $463,983
PORT ST. LUCIE, FL 117 $27,275,000 $233,120
MADERA, CA 109 $26,825,000 $246,101
EL CENTRO, CA 116 $26,140,000 $225,345
KNOXVILLE, TN 119 $25,445,000 $213,824
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 113 $25,055,000 $221,726
SIOUX CITY, IA-NE-SD 138 $23,320,000 $168,986
GARY, IN 108 $22,360,000 $207,037
OMAHA-COUNCIL BLUFFS, NE-IA 117 $21,945,000 $187,564
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 71 $20,885,000 $294,155
OCEAN CITY, NJ 90 $20,730,000 $230,333
JEFFERSON CITY, MO 107 $20,655,000 $193,037
RICHMOND, VA 79 $20,565,000 $260,316
GREENVILLE-ANDERSON, SC 96 $20,560,000 $214,167
ABILENE, TX 101 $20,465,000 $202,624
DOVER, DE 88 $20,440,000 $232,273
LAREDO, TX 82 $20,420,000 $249,024
MADISON, WI 84 $20,410,000 $242,976
SALINAS, CA 42 $20,190,000 $480,714
PUNTA GORDA, FL 100 $19,820,000 $198,200
OKLAHOMA CITY, OK 88 $19,130,000 $217,386
MANCHESTER-NASHUA, NH 76 $19,110,000 $251,447
VISALIA, CA 76 $19,070,000 $250,921
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 69 $18,845,000 $273,116
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 66 $18,680,000 $283,030
MERCED, CA 76 $18,510,000 $243,553
DES MOINES-WEST DES MOINES, IA 76 $17,930,000 $235,921
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 59 $17,855,000 $302,627
SALISBURY, MD-DE 78 $17,630,000 $226,026
DETROIT-DEARBORN-LIVONIA, MI 88 $17,360,000 $197,273
GULFPORT-BILOXI, MS 83 $17,215,000 $207,410
SAN RAFAEL, CA 26 $16,420,000 $631,538
PALM BAY-MELBOURNE-TITUSVILLE, FL 69 $16,295,000 $236,159
MOBILE, AL 81 $15,925,000 $196,605
CINCINNATI, OH-KY-IN 77 $15,755,000 $204,610
AUGUSTA-RICHMOND COUNTY, GA-SC 72 $15,250,000 $211,806
REDDING, CA 58 $15,180,000 $261,724
MORGANTOWN, WV 70 $15,110,000 $215,857
HANFORD-CORCORAN, CA 63 $15,055,000 $238,968
SALEM, OR 61 $14,955,000 $245,164
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 69 $14,855,000 $215,290
WINSTON-SALEM, NC 86 $14,670,000 $170,581
CHICO, CA 52 $14,290,000 $274,808
BREMERTON-SILVERDALE-PORT ORCHARD, WA 40 $14,080,000 $352,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 68 $13,300,000 $195,588
SAVANNAH, GA 55 $13,285,000 $241,545
AUBURN-OPELIKA, AL 58 $12,880,000 $222,069
PRESCOTT VALLEY-PRESCOTT, AZ 53 $12,505,000 $235,943
OLYMPIA-LACEY-TUMWATER, WA 39 $12,395,000 $317,821
TUCSON, AZ 51 $12,265,000 $240,490
NAPLES-MARCO ISLAND, FL 41 $12,255,000 $298,902
PUEBLO, CO 56 $12,130,000 $216,607
YUBA CITY, CA 42 $11,790,000 $280,714
HAGERSTOWN-MARTINSBURG, MD-WV 58 $11,730,000 $202,241
TRENTON-PRINCETON, NJ 42 $11,070,000 $263,571
MILWAUKEE-WAUKESHA, WI 46 $11,020,000 $239,565
SPOKANE-SPOKANE VALLEY, WA 39 $10,465,000 $268,333
COLUMBIA, SC 45 $10,355,000 $230,111
YORK-HANOVER, PA 50 $10,150,000 $203,000
READING, PA 50 $10,140,000 $202,800
TYLER, TX 41 $9,845,000 $240,122
ASHEVILLE, NC 41 $9,835,000 $239,878
SANTA MARIA-SANTA BARBARA, CA 26 $9,820,000 $377,692
SHREVEPORT-BOSSIER CITY, LA 53 $9,725,000 $183,491
SANTA CRUZ-WATSONVILLE, CA 19 $9,725,000 $511,842
CEDAR RAPIDS, IA 44 $9,620,000 $218,636
ERIE, PA 63 $9,425,000 $149,603
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 39 $9,365,000 $240,128
ST. CLOUD, MN 49 $9,245,000 $188,673
CLEVELAND, TN 47 $9,155,000 $194,787
RENO, NV 26 $8,850,000 $340,385
STATE COLLEGE, PA 46 $8,830,000 $191,957
KAHULUI-WAILUKU-LAHAINA, HI 16 $8,780,000 $548,750
DURHAM-CHAPEL HILL, NC 34 $8,730,000 $256,765
CANTON-MASSILLON, OH 47 $8,055,000 $171,383
ROCHESTER, NY 50 $7,790,000 $155,800
GREENSBORO-HIGH POINT, NC 44 $7,770,000 $176,591
GLENS FALLS, NY 50 $7,750,000 $155,000
KALAMAZOO-PORTAGE, MI 38 $7,690,000 $202,368
PORTLAND-SOUTH PORTLAND, ME 26 $7,520,000 $289,231
WILMINGTON, NC 32 $7,410,000 $231,563
WICHITA, KS 42 $7,360,000 $175,238
SCRANTON--WILKES-BARRE, PA 40 $7,290,000 $182,250
NORWICH-NEW LONDON, CT 34 $7,280,000 $214,118
NAPA, CA 15 $7,205,000 $480,333
LYNCHBURG, VA 39 $7,185,000 $184,231
TALLAHASSEE, FL 30 $7,060,000 $235,333
LEXINGTON-FAYETTE, KY 37 $6,835,000 $184,730
KENNEWICK-RICHLAND, WA 24 $6,740,000 $280,833
OCALA, FL 41 $6,555,000 $159,878
GRAND JUNCTION, CO 27 $6,495,000 $240,556
JACKSONVILLE, NC 36 $6,470,000 $179,722
JACKSON, MS 28 $6,470,000 $231,071
LINCOLN, NE 26 $6,440,000 $247,692
VALDOSTA, GA 37 $6,245,000 $168,784
UTICA-ROME, NY 46 $6,150,000 $133,696
WINCHESTER, VA-WV 23 $6,115,000 $265,870
ALBUQUERQUE, NM 31 $6,105,000 $196,935
AKRON, OH 34 $6,090,000 $179,118
SYRACUSE, NY 41 $5,965,000 $145,488
ELIZABETHTOWN-FORT KNOX, KY 32 $5,960,000 $186,250
DECATUR, AL 27 $5,815,000 $215,370
MEMPHIS, TN-MS-AR 21 $5,635,000 $268,333
SPRINGFIELD, MO 31 $5,575,000 $179,839
ANN ARBOR, MI 22 $5,520,000 $250,909
GAINESVILLE, FL 29 $5,495,000 $189,483
DULUTH, MN-WI 31 $5,455,000 $175,968
TULSA, OK 29 $5,395,000 $186,034
BOISE CITY, ID 15 $5,235,000 $349,000
EL PASO, TX 31 $5,235,000 $168,871
SPARTANBURG, SC 26 $5,200,000 $200,000
ATLANTIC CITY-HAMMONTON, NJ 19 $4,715,000 $248,158
FAYETTEVILLE, NC 25 $4,665,000 $186,600
GAINESVILLE, GA 18 $4,650,000 $258,333
TOLEDO, OH 25 $4,545,000 $181,800
COLUMBUS, GA-AL 24 $4,530,000 $188,750
TOPEKA, KS 27 $4,495,000 $166,481
MEDFORD, OR 15 $4,465,000 $297,667
CHATTANOOGA, TN-GA 20 $4,450,000 $222,500
LANCASTER, PA 19 $4,365,000 $229,737
LAKE HAVASU CITY-KINGMAN, AZ 18 $4,360,000 $242,222
DAYTON-KETTERING, OH 23 $4,265,000 $185,435
JACKSON, MI 25 $4,115,000 $164,600
GETTYSBURG, PA 16 $3,910,000 $244,375
CORPUS CHRISTI, TX 17 $3,905,000 $229,706
EAST STROUDSBURG, PA 18 $3,760,000 $208,889
EUGENE-SPRINGFIELD, OR 14 $3,700,000 $264,286
CORVALLIS, OR 13 $3,685,000 $283,462
ST. GEORGE, UT 15 $3,645,000 $243,000
MORRISTOWN, TN 20 $3,640,000 $182,000
CALIFORNIA-LEXINGTON PARK, MD 10 $3,620,000 $362,000
GRAND RAPIDS-KENTWOOD, MI 18 $3,610,000 $200,556
ANCHORAGE, AK 11 $3,565,000 $324,091
COEUR D'ALENE, ID 11 $3,535,000 $321,364
PANAMA CITY, FL 15 $3,515,000 $234,333
KANKAKEE, IL 19 $3,515,000 $185,000
SPRINGFIELD, MA 18 $3,500,000 $194,444
HOMOSASSA SPRINGS, FL 23 $3,485,000 $151,522
TUSCALOOSA, AL 18 $3,440,000 $191,111
FARGO, ND-MN 12 $3,420,000 $285,000
ALBANY-LEBANON, OR 13 $3,375,000 $259,615
HINESVILLE, GA 15 $3,375,000 $225,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 15 $3,315,000 $221,000
BEND, OR 12 $3,180,000 $265,000
MOUNT VERNON-ANACORTES, WA 10 $3,170,000 $317,000
CHARLOTTESVILLE, VA 11 $3,075,000 $279,545
ROANOKE, VA 16 $2,950,000 $184,375
LEBANON, PA 16 $2,900,000 $181,250
WAUSAU-WESTON, WI 17 $2,835,000 $166,765
PARKERSBURG-VIENNA, WV 17 $2,825,000 $166,176
HAMMOND, LA 15 $2,695,000 $179,667
BELLINGHAM, WA 10 $2,680,000 $268,000
DOTHAN, AL 15 $2,645,000 $176,333
COLUMBIA, MO 13 $2,605,000 $200,385
FLAGSTAFF, AZ 8 $2,570,000 $321,250
FLINT, MI 15 $2,545,000 $169,667
MONROE, LA 13 $2,535,000 $195,000
LONGVIEW, WA 8 $2,480,000 $310,000
SIERRA VISTA-DOUGLAS, AZ 10 $2,460,000 $246,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 16 $2,460,000 $153,750
MONTGOMERY, AL 11 $2,425,000 $220,455
YAKIMA, WA 9 $2,405,000 $267,222
THE VILLAGES, FL 8 $2,370,000 $296,250
BRUNSWICK, GA 10 $2,350,000 $235,000
JANESVILLE-BELOIT, WI 12 $2,350,000 $195,833
WILLIAMSPORT, PA 14 $2,350,000 $167,857
BILLINGS, MT 9 $2,245,000 $249,444
HUNTINGTON-ASHLAND, WV-KY-OH 13 $2,235,000 $171,923
CLARKSVILLE, TN-KY 10 $2,220,000 $222,000
SHEBOYGAN, WI 9 $2,195,000 $243,889
CHAMBERSBURG-WAYNESBORO, PA 11 $2,155,000 $195,909
FORT WAYNE, IN 12 $2,120,000 $176,667
JOPLIN, MO 17 $2,045,000 $120,294
ATHENS-CLARKE COUNTY, GA 8 $2,030,000 $253,750
CARBONDALE-MARION, IL 11 $2,005,000 $182,273
HATTIESBURG, MS 10 $2,000,000 $200,000
CASPER, WY 5 $1,985,000 $397,000
MIDLAND, TX 8 $1,980,000 $247,500
JACKSON, TN 12 $1,980,000 $165,000
SHERMAN-DENISON, TX 9 $1,965,000 $218,333
HICKORY-LENOIR-MORGANTON, NC 10 $1,880,000 $188,000
JONESBORO, AR 14 $1,840,000 $131,429
HILTON HEAD ISLAND-BLUFFTON, SC 8 $1,840,000 $230,000
ALTOONA, PA 15 $1,785,000 $119,000
BEAUMONT-PORT ARTHUR, TX 8 $1,700,000 $212,500
SEBASTIAN-VERO BEACH, FL 7 $1,665,000 $237,857
WENATCHEE, WA 6 $1,620,000 $270,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 9 $1,615,000 $179,444
AMES, IA 7 $1,575,000 $225,000
FLORENCE-MUSCLE SHOALS, AL 7 $1,575,000 $225,000
LAWRENCE, KS 8 $1,570,000 $196,250
LONGVIEW, TX 7 $1,565,000 $223,571
SEBRING-AVON PARK, FL 12 $1,550,000 $129,167
ROCKFORD, IL 10 $1,550,000 $155,000
WATERLOO-CEDAR FALLS, IA 7 $1,545,000 $220,714
YUMA, AZ 6 $1,520,000 $253,333
LANSING-EAST LANSING, MI 12 $1,520,000 $126,667
KILLEEN-TEMPLE, TX 7 $1,465,000 $209,286
TEXARKANA, TX-AR 9 $1,465,000 $162,778
MANSFIELD, OH 13 $1,385,000 $106,538
BURLINGTON, NC 6 $1,360,000 $226,667
GADSDEN, AL 8 $1,350,000 $168,750
SIOUX FALLS, SD 6 $1,340,000 $223,333
EVANSVILLE, IN-KY 7 $1,285,000 $183,571
STAUNTON, VA 6 $1,270,000 $211,667
AMARILLO, TX 7 $1,265,000 $180,714
HARRISONBURG, VA 6 $1,260,000 $210,000
GRAND FORKS, ND-MN 5 $1,245,000 $249,000
MACON-BIBB COUNTY, GA 8 $1,240,000 $155,000
MANKATO, MN 5 $1,215,000 $243,000
DUBUQUE, IA 7 $1,205,000 $172,143
GOLDSBORO, NC 6 $1,190,000 $198,333
MCALLEN-EDINBURG-MISSION, TX 5 $1,185,000 $237,000
FLORENCE, SC 6 $1,180,000 $196,667
ODESSA, TX 6 $1,180,000 $196,667
BLOOMSBURG-BERWICK, PA 7 $1,165,000 $166,429
LUBBOCK, TX 6 $1,160,000 $193,333
LEWISTON-AUBURN, ME 5 $1,155,000 $231,000
KINGSTON, NY 4 $1,150,000 $287,500
BROWNSVILLE-HARLINGEN, TX 8 $1,150,000 $143,750
RACINE, WI 7 $1,145,000 $163,571
MONROE, MI 6 $1,130,000 $188,333
ANNISTON-OXFORD, AL 8 $1,090,000 $136,250
CHEYENNE, WY 4 $1,080,000 $270,000
VINELAND-BRIDGETON, NJ 6 $1,080,000 $180,000
COLLEGE STATION-BRYAN, TX 4 $1,070,000 $267,500
LAWTON, OK 5 $1,055,000 $211,000
CHARLESTON, WV 5 $1,055,000 $211,000
ROME, GA 5 $1,025,000 $205,000
HOUMA-THIBODAUX, LA 7 $1,005,000 $143,571
PEORIA, IL 5 $995,000 $199,000
NILES, MI 6 $990,000 $165,000
KINGSPORT-BRISTOL, TN-VA 5 $975,000 $195,000
IOWA CITY, IA 4 $950,000 $237,500
NEW BERN, NC 5 $915,000 $183,000
WARNER ROBINS, GA 5 $895,000 $179,000
MICHIGAN CITY-LA PORTE, IN 4 $850,000 $212,500
LAS CRUCES, NM 5 $845,000 $169,000
FOND DU LAC, WI 4 $840,000 $210,000
BLOOMINGTON, IN 3 $835,000 $278,333
MANHATTAN, KS 4 $820,000 $205,000
IDAHO FALLS, ID 3 $815,000 $271,667
LOGAN, UT-ID 4 $810,000 $202,500
GRANTS PASS, OR 4 $790,000 $197,500
BLACKSBURG-CHRISTIANSBURG, VA 4 $770,000 $192,500
GREENVILLE, NC 4 $750,000 $187,500
WALLA WALLA, WA 3 $735,000 $245,000
BINGHAMTON, NY 5 $725,000 $145,000
BISMARCK, ND 3 $715,000 $238,333
WEIRTON-STEUBENVILLE, WV-OH 4 $710,000 $177,500
ST. JOSEPH, MO-KS 3 $705,000 $235,000
SPRINGFIELD, OH 4 $660,000 $165,000
BECKLEY, WV 5 $655,000 $131,000
WHEELING, WV-OH 5 $625,000 $125,000
BOWLING GREEN, KY 3 $585,000 $195,000
ROCHESTER, MN 3 $555,000 $185,000
ALBANY, GA 3 $555,000 $185,000
CHAMPAIGN-URBANA, IL 3 $545,000 $181,667
SUMTER, SC 2 $540,000 $270,000
COLUMBUS, IN 4 $540,000 $135,000
ROCKY MOUNT, NC 4 $530,000 $132,500
EAU CLAIRE, WI 3 $525,000 $175,000
DALTON, GA 3 $525,000 $175,000
APPLETON, WI 3 $525,000 $175,000
LA CROSSE-ONALASKA, WI-MN 3 $525,000 $175,000
ELKHART-GOSHEN, IN 2 $460,000 $230,000
RAPID CITY, SD 2 $460,000 $230,000
LAFAYETTE-WEST LAFAYETTE, IN 2 $440,000 $220,000
WACO, TX 2 $420,000 $210,000
LIMA, OH 4 $420,000 $105,000
SANTA FE, NM 1 $415,000 $415,000
KOKOMO, IN 2 $410,000 $205,000
CUMBERLAND, MD-WV 2 $400,000 $200,000
OSHKOSH-NEENAH, WI 2 $370,000 $185,000
SOUTH BEND-MISHAWAKA, IN-MI 2 $340,000 $170,000
TERRE HAUTE, IN 3 $335,000 $111,667
HOT SPRINGS, AR 1 $335,000 $335,000
JOHNSTOWN, PA 2 $330,000 $165,000
ALEXANDRIA, LA 2 $330,000 $165,000
TWIN FALLS, ID 1 $315,000 $315,000
PINE BLUFF, AR 2 $300,000 $150,000
MISSOULA, MT 1 $295,000 $295,000
BLOOMINGTON, IL 2 $280,000 $140,000
POCATELLO, ID 1 $275,000 $275,000
BURLINGTON-SOUTH BURLINGTON, VT 1 $265,000 $265,000
JOHNSON CITY, TN 2 $260,000 $130,000
FAIRBANKS, AK 1 $255,000 $255,000
GRAND ISLAND, NE 3 $255,000 $85,000
Outside of Metro Areas 1 $235,000 $235,000
FORT SMITH, AR-OK 1 $235,000 $235,000
GREEN BAY, WI 2 $220,000 $110,000
BATTLE CREEK, MI 1 $215,000 $215,000
SPRINGFIELD, IL 2 $200,000 $100,000
MUSKEGON, MI 1 $165,000 $165,000
DANVILLE, IL 2 $140,000 $70,000
SAGINAW, MI 1 $135,000 $135,000
DECATUR, IL 1 $85,000 $85,000
BANGOR, ME 1 $75,000 $75,000
WICHITA FALLS, TX 1 $65,000 $65,000
ENID, OK 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% 90 $2,030,000 $22,556
2.5-3% 1,486 $450,460,000 $303,136
3-4% 25,105 $7,641,465,000 $304,380
4-5% 14,637 $3,866,635,000 $264,169
5-6% 2,477 $559,405,000 $225,840
6-7% 217 $58,895,000 $271,406
7-8% 15 $6,445,000 $429,667
Over 8% 6 $2,430,000 $405,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,809 $131,105,000 $72,474
$100k-200k 12,089 $1,879,485,000 $155,471
$200k-400k 21,809 $6,212,045,000 $284,839
$400k-600k 6,614 $3,116,800,000 $471,243
$600k-1000k 1,609 $1,121,535,000 $697,039
$Over $1MM 105 $126,805,000 $1,207,667

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% 857 $205,565,000 $239,866
40-60% 3,225 $953,645,000 $295,704
60-80% 11,342 $3,422,920,000 $301,792
80-100% 26,881 $7,490,425,000 $278,651
Over 100% 973 $312,785,000 $321,465
Under 20% 271 $23,405,000 $86,365

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 7,986 $2,697,020,000 $337,719
$150k-250k 4,514 $1,803,060,000 $399,437
$50k-75k 9,850 $2,208,690,000 $224,232
$50k-or less 12,384 $2,973,220,000 $240,086
$75k-100k 7,373 $2,051,795,000 $278,285
$Over $250k 1,399 $660,865,000 $472,384

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 32,403 $8,981,315,000 $277,175
Not provided 4,925 $1,576,055,000 $320,011
Asian 3,068 $1,032,160,000 $336,428
Black 3,232 $875,950,000 $271,024
Native Hawaiian 176 $57,110,000 $324,489
American Indian 171 $46,705,000 $273,129
Asian Indian 23 $7,035,000 $305,870
Other Asian 16 $3,980,000 $248,750
Filipino 7 $3,155,000 $450,714
Other Pacific Islander 4 $1,000,000 $250,000
Japanese 3 $925,000 $308,333
Vietnamese 2 $880,000 $440,000
Korean 2 $840,000 $420,000
Chinese 2 $430,000 $215,000
Guamanian 1 $235,000 $235,000

Approval Rates

Total approvals of all applications
93.03%

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
78.62%

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 44,035 $12,587,775,000 $285,858

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 18,050 $4,772,450,000 $264,402
$1k-2k 11,585 $3,450,105,000 $297,808
$2k-3k 4,002 $1,043,280,000 $260,690
$3k-4k 4,180 $1,187,930,000 $284,194
$5k+ 4,150 $1,643,090,000 $395,925

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 355 $62,295,000 $175,479
Single Family (1-4 Units):Site-Built 43,680 $12,525,480,000 $286,755