The Federal Savings Bank

CHICAGO, IL 60607

LEI: 549300BX448ALT10FI43

Tax ID: 43-1883419

2019 Data | 2018 Data


Overview

The Federal Savings Bank is a mid-sized mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. The Federal Savings Bank has an average proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include New York, Chicago, Washington, Nassau County, and Phoenix 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. The Federal Savings Bank is typically a medium-low fee exceptionally high fee lendor.


Originations

19,380

Origination Dollar Volume (All Markets)

$5,811,320,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 5,326 $1,630,680,000 $306,173
FHA 2,783 $805,175,000 $289,319
VA 11,162 $3,358,600,000 $300,896
USDA 109 $16,865,000 $154,725

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 5,484 $1,645,590,000 $300,071
Home Improvement 1 $105,000 $105,000
Other 182 $40,010,000 $219,835
Refi 5,672 $1,727,660,000 $304,594
Cash Out Refi 8,041 $2,397,955,000 $298,216

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
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 976 $507,910,000 $520,400
CHICAGO-NAPERVILLE-EVANSTON, IL 2,006 $503,720,000 $251,107
Outside of Metro Areas 1,537 $392,125,000 $255,124
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 791 $293,785,000 $371,410
NASSAU COUNTY-SUFFOLK COUNTY, NY 475 $178,805,000 $376,432
PHOENIX-MESA-CHANDLER, AZ 527 $151,225,000 $286,954
LAS VEGAS-HENDERSON-PARADISE, NV 431 $132,025,000 $306,323
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 487 $125,655,000 $258,018
NEW BRUNSWICK-LAKEWOOD, NJ 269 $98,145,000 $364,851
DENVER-AURORA-LAKEWOOD, CO 274 $97,250,000 $354,927
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 328 $87,250,000 $266,006
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 251 $87,075,000 $346,912
LOS ANGELES-LONG BEACH-GLENDALE, CA 158 $74,630,000 $472,342
SEATTLE-BELLEVUE-KENT, WA 183 $70,585,000 $385,710
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 263 $69,115,000 $262,795
BALTIMORE-COLUMBIA-TOWSON, MD 203 $66,085,000 $325,542
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 198 $65,300,000 $329,798
TACOMA-LAKEWOOD, WA 181 $60,255,000 $332,901
TAMPA-ST. PETERSBURG-CLEARWATER, FL 194 $53,550,000 $276,031
SALT LAKE CITY, UT 166 $51,190,000 $308,373
RICHMOND, VA 191 $49,655,000 $259,974
COLUMBUS, OH 188 $47,370,000 $251,968
OGDEN-CLEARFIELD, UT 160 $46,700,000 $291,875
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 104 $46,300,000 $445,192
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 120 $44,630,000 $371,917
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 153 $44,555,000 $291,209
SACRAMENTO-ROSEVILLE-FOLSOM, CA 123 $44,035,000 $358,008
COLORADO SPRINGS, CO 130 $40,120,000 $308,615
PROVIDENCE-WARWICK, RI-MA 144 $38,790,000 $269,375
BOSTON, MA 105 $38,365,000 $365,381
URBAN HONOLULU, HI 66 $38,200,000 $578,788
INDIANAPOLIS-CARMEL-ANDERSON, IN 180 $37,280,000 $207,111
ORLANDO-KISSIMMEE-SANFORD, FL 134 $36,340,000 $271,194
NEWARK, NJ-PA 122 $35,610,000 $291,885
CHARLOTTE-CONCORD-GASTONIA, NC-SC 126 $35,300,000 $280,159
ELGIN, IL 151 $33,745,000 $223,477
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 87 $32,805,000 $377,069
RALEIGH-CARY, NC 131 $32,485,000 $247,977
ST. LOUIS, MO-IL 125 $31,845,000 $254,760
ANAHEIM-SANTA ANA-IRVINE, CA 65 $31,525,000 $485,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 106 $31,180,000 $294,151
OAKLAND-BERKELEY-LIVERMORE, CA 62 $30,940,000 $499,032
KANSAS CITY, MO-KS 117 $29,055,000 $248,333
RENO, NV 89 $28,175,000 $316,573
GREELEY, CO 78 $28,100,000 $360,256
JACKSONVILLE, FL 97 $27,205,000 $280,464
BREMERTON-SILVERDALE-PORT ORCHARD, WA 76 $25,700,000 $338,158
ANCHORAGE, AK 84 $25,140,000 $299,286
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 87 $24,595,000 $282,701
OLYMPIA-LACEY-TUMWATER, WA 70 $22,560,000 $322,286
FORT COLLINS, CO 62 $21,850,000 $352,419
NORTH PORT-SARASOTA-BRADENTON, FL 76 $20,670,000 $271,974
CINCINNATI, OH-KY-IN 80 $20,580,000 $257,250
SALISBURY, MD-DE 61 $20,455,000 $335,328
MIAMI-MIAMI BEACH-KENDALL, FL 73 $20,425,000 $279,795
SPOKANE-SPOKANE VALLEY, WA 70 $19,590,000 $279,857
WARREN-TROY-FARMINGTON HILLS, MI 75 $19,545,000 $260,600
PROVO-OREM, UT 64 $19,330,000 $302,031
NEW ORLEANS-METAIRIE, LA 91 $19,135,000 $210,275
TUCSON, AZ 74 $19,000,000 $256,757
WORCESTER, MA-CT 73 $18,985,000 $260,068
ALBUQUERQUE, NM 77 $18,885,000 $245,260
OKLAHOMA CITY, OK 68 $18,440,000 $271,176
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 61 $17,905,000 $293,525
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 52 $17,670,000 $339,808
BOISE CITY, ID 61 $17,565,000 $287,951
CHARLESTON-NORTH CHARLESTON, SC 71 $17,415,000 $245,282
GARY, IN 82 $17,090,000 $208,415
LAKE COUNTY-KENOSHA COUNTY, IL-WI 65 $16,995,000 $261,462
VALLEJO, CA 43 $16,505,000 $383,837
OMAHA-COUNCIL BLUFFS, NE-IA 61 $16,135,000 $264,508
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 25 $15,725,000 $629,000
CLEVELAND-ELYRIA, OH 65 $15,245,000 $234,538
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 50 $14,550,000 $291,000
EUGENE-SPRINGFIELD, OR 49 $13,695,000 $279,490
MEMPHIS, TN-MS-AR 54 $13,670,000 $253,148
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 57 $13,505,000 $236,930
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 54 $13,110,000 $242,778
CHEYENNE, WY 48 $12,780,000 $266,250
FAYETTEVILLE, NC 52 $12,760,000 $245,385
SALEM, OR 42 $12,650,000 $301,190
WILMINGTON, DE-MD-NJ 52 $12,650,000 $243,269
MANCHESTER-NASHUA, NH 46 $12,540,000 $272,609
STOCKTON, CA 37 $12,535,000 $338,784
CAMDEN, NJ 49 $12,295,000 $250,918
AUSTIN-ROUND ROCK-GEORGETOWN, TX 43 $12,255,000 $285,000
AUGUSTA-RICHMOND COUNTY, GA-SC 47 $12,195,000 $259,468
SAN ANTONIO-NEW BRAUNFELS, TX 37 $11,965,000 $323,378
CAPE CORAL-FORT MYERS, FL 46 $11,870,000 $258,043
HAGERSTOWN-MARTINSBURG, MD-WV 47 $11,695,000 $248,830
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 45 $11,695,000 $259,889
LOUISVILLE/JEFFERSON COUNTY, KY-IN 48 $11,600,000 $241,667
DURHAM-CHAPEL HILL, NC 47 $11,495,000 $244,574
BLOOMINGTON, IN 55 $11,375,000 $206,818
COLUMBIA, SC 50 $11,290,000 $225,800
PALM BAY-MELBOURNE-TITUSVILLE, FL 40 $10,950,000 $273,750
ST. GEORGE, UT 34 $10,930,000 $321,471
BRIDGEPORT-STAMFORD-NORWALK, CT 28 $10,910,000 $389,643
LAKELAND-WINTER HAVEN, FL 46 $10,910,000 $237,174
MILWAUKEE-WAUKESHA, WI 41 $10,555,000 $257,439
BATON ROUGE, LA 41 $10,475,000 $255,488
BARNSTABLE TOWN, MA 35 $10,305,000 $294,429
CLARKSVILLE, TN-KY 44 $9,910,000 $225,227
KAHULUI-WAILUKU-LAHAINA, HI 19 $9,675,000 $509,211
SAVANNAH, GA 36 $9,610,000 $266,944
MODESTO, CA 33 $9,455,000 $286,515
PORTLAND-SOUTH PORTLAND, ME 35 $9,285,000 $265,286
DAYTON-KETTERING, OH 35 $9,205,000 $263,000
KENNEWICK-RICHLAND, WA 34 $9,170,000 $269,706
HUNTSVILLE, AL 36 $9,110,000 $253,056
DALLAS-PLANO-IRVING, TX 31 $8,595,000 $277,258
OXNARD-THOUSAND OAKS-VENTURA, CA 21 $8,585,000 $408,810
PITTSBURGH, PA 32 $8,560,000 $267,500
PRESCOTT VALLEY-PRESCOTT, AZ 33 $8,445,000 $255,909
TULSA, OK 33 $8,395,000 $254,394
PENSACOLA-FERRY PASS-BRENT, FL 33 $8,205,000 $248,636
MEDFORD, OR 28 $8,100,000 $289,286
COLUMBUS, GA-AL 28 $8,100,000 $289,286
SPRINGFIELD, MA 30 $8,100,000 $270,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 30 $8,060,000 $268,667
SALINAS, CA 16 $8,010,000 $500,625
DES MOINES-WEST DES MOINES, IA 30 $7,820,000 $260,667
KNOXVILLE, TN 32 $7,760,000 $242,500
DOVER, DE 32 $7,760,000 $242,500
FRESNO, CA 23 $7,625,000 $331,522
BIRMINGHAM-HOOVER, AL 29 $7,445,000 $256,724
LAKE HAVASU CITY-KINGMAN, AZ 30 $7,340,000 $244,667
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 33 $7,265,000 $220,152
GRAND RAPIDS-KENTWOOD, MI 28 $6,940,000 $247,857
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 32 $6,930,000 $216,563
ASHEVILLE, NC 25 $6,735,000 $269,400
BAKERSFIELD, CA 27 $6,575,000 $243,519
GREENVILLE-ANDERSON, SC 27 $6,545,000 $242,407
CHATTANOOGA, TN-GA 25 $6,475,000 $259,000
SHREVEPORT-BOSSIER CITY, LA 27 $6,425,000 $237,963
YUBA CITY, CA 19 $6,355,000 $334,474
AKRON, OH 23 $6,305,000 $274,130
PHILADELPHIA, PA 27 $6,295,000 $233,148
WINCHESTER, VA-WV 21 $6,155,000 $293,095
MONTGOMERY, AL 24 $6,070,000 $252,917
PORT ST. LUCIE, FL 27 $6,035,000 $223,519
BEND, OR 16 $6,010,000 $375,625
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 24 $5,970,000 $248,750
BELLINGHAM, WA 18 $5,860,000 $325,556
JACKSON, MS 24 $5,830,000 $242,917
JACKSONVILLE, NC 23 $5,795,000 $251,957
NAPLES-MARCO ISLAND, FL 20 $5,760,000 $288,000
WILMINGTON, NC 20 $5,760,000 $288,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 24 $5,660,000 $235,833
ELIZABETHTOWN-FORT KNOX, KY 24 $5,650,000 $235,417
LAWTON, OK 24 $5,630,000 $234,583
ROANOKE, VA 28 $5,610,000 $200,357
BLACKSBURG-CHRISTIANSBURG, VA 37 $5,425,000 $146,622
GRAND JUNCTION, CO 18 $5,390,000 $299,444
SANTA ROSA-PETALUMA, CA 12 $5,330,000 $444,167
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 9 $5,255,000 $583,889
LYNCHBURG, VA 23 $5,045,000 $219,348
CHARLOTTESVILLE, VA 17 $4,975,000 $292,647
YAKIMA, WA 16 $4,920,000 $307,500
MOUNT VERNON-ANACORTES, WA 15 $4,915,000 $327,667
DETROIT-DEARBORN-LIVONIA, MI 22 $4,890,000 $222,273
GULFPORT-BILOXI, MS 22 $4,850,000 $220,455
BOULDER, CO 11 $4,825,000 $438,636
ALBANY-LEBANON, OR 18 $4,800,000 $266,667
GAINESVILLE, GA 18 $4,700,000 $261,111
OCALA, FL 19 $4,645,000 $244,474
YORK-HANOVER, PA 17 $4,625,000 $272,059
HAMMOND, LA 18 $4,560,000 $253,333
CARSON CITY, NV 15 $4,525,000 $301,667
SAN LUIS OBISPO-PASO ROBLES, CA 9 $4,465,000 $496,111
LEXINGTON-FAYETTE, KY 19 $4,455,000 $234,474
MADISON, WI 16 $4,420,000 $276,250
COEUR D'ALENE, ID 15 $4,415,000 $294,333
PUNTA GORDA, FL 17 $4,355,000 $256,176
FAIRBANKS, AK 17 $4,305,000 $253,235
LONGVIEW, WA 16 $4,270,000 $266,875
TOLEDO, OH 18 $4,270,000 $237,222
FORT WORTH-ARLINGTON-GRAPEVINE, TX 17 $4,145,000 $243,824
DAPHNE-FAIRHOPE-FOLEY, AL 16 $4,140,000 $258,750
WENATCHEE, WA 13 $4,085,000 $314,231
MERCED, CA 15 $4,065,000 $271,000
HINESVILLE, GA 19 $4,005,000 $210,789
VISALIA, CA 15 $4,005,000 $267,000
LOGAN, UT-ID 14 $3,950,000 $282,143
DULUTH, MN-WI 17 $3,905,000 $229,706
REDDING, CA 13 $3,845,000 $295,769
PUEBLO, CO 15 $3,735,000 $249,000
WINSTON-SALEM, NC 16 $3,670,000 $229,375
LAS CRUCES, NM 15 $3,665,000 $244,333
FARGO, ND-MN 16 $3,650,000 $228,125
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 15 $3,555,000 $237,000
BISMARCK, ND 10 $3,490,000 $349,000
HILTON HEAD ISLAND-BLUFFTON, SC 14 $3,470,000 $247,857
YUMA, AZ 14 $3,420,000 $244,286
READING, PA 15 $3,345,000 $223,000
HANFORD-CORCORAN, CA 12 $3,190,000 $265,833
RAPID CITY, SD 12 $3,170,000 $264,167
MANHATTAN, KS 13 $3,125,000 $240,385
KILLEEN-TEMPLE, TX 17 $3,115,000 $183,235
MORGANTOWN, WV 10 $3,090,000 $309,000
TALLAHASSEE, FL 10 $2,990,000 $299,000
CANTON-MASSILLON, OH 11 $2,965,000 $269,545
IDAHO FALLS, ID 12 $2,870,000 $239,167
SANTA FE, NM 10 $2,860,000 $286,000
MOBILE, AL 12 $2,860,000 $238,333
SPARTANBURG, SC 13 $2,855,000 $219,615
GREEN BAY, WI 12 $2,830,000 $235,833
NEW HAVEN-MILFORD, CT 14 $2,780,000 $198,571
WICHITA, KS 13 $2,755,000 $211,923
GRANTS PASS, OR 9 $2,755,000 $306,111
FORT SMITH, AR-OK 11 $2,755,000 $250,455
HICKORY-LENOIR-MORGANTON, NC 10 $2,720,000 $272,000
HARRISBURG-CARLISLE, PA 12 $2,700,000 $225,000
BURLINGTON-SOUTH BURLINGTON, VT 11 $2,695,000 $245,000
LAFAYETTE, LA 14 $2,690,000 $192,143
GREENSBORO-HIGH POINT, NC 12 $2,670,000 $222,500
ROCKFORD, IL 15 $2,645,000 $176,333
SPRINGFIELD, MO 12 $2,620,000 $218,333
AUBURN-OPELIKA, AL 12 $2,610,000 $217,500
SIERRA VISTA-DOUGLAS, AZ 11 $2,605,000 $236,818
SOUTH BEND-MISHAWAKA, IN-MI 12 $2,550,000 $212,500
FORT WAYNE, IN 10 $2,550,000 $255,000
OCEAN CITY, NJ 7 $2,535,000 $362,143
MONROE, LA 10 $2,530,000 $253,000
STAUNTON, VA 10 $2,520,000 $252,000
THE VILLAGES, FL 6 $2,510,000 $418,333
RACINE, WI 10 $2,500,000 $250,000
BUFFALO-CHEEKTOWAGA, NY 10 $2,440,000 $244,000
GREAT FALLS, MT 9 $2,365,000 $262,778
PEORIA, IL 12 $2,360,000 $196,667
LANCASTER, PA 9 $2,315,000 $257,222
LINCOLN, NE 12 $2,310,000 $192,500
WARNER ROBINS, GA 9 $2,295,000 $255,000
SAN RAFAEL, CA 2 $2,290,000 $1,145,000
CHICO, CA 8 $2,280,000 $285,000
TUSCALOOSA, AL 8 $2,240,000 $280,000
TOPEKA, KS 9 $2,215,000 $246,111
ALBANY-SCHENECTADY-TROY, NY 12 $2,180,000 $181,667
MISSOULA, MT 6 $2,180,000 $363,333
BILLINGS, MT 8 $2,170,000 $271,250
FARMINGTON, NM 10 $2,130,000 $213,000
NORWICH-NEW LONDON, CT 8 $2,110,000 $263,750
ATHENS-CLARKE COUNTY, GA 8 $2,110,000 $263,750
GRAND FORKS, ND-MN 8 $2,070,000 $258,750
PANAMA CITY, FL 8 $2,060,000 $257,500
EVANSVILLE, IN-KY 11 $2,045,000 $185,909
BANGOR, ME 10 $2,010,000 $201,000
NEW BERN, NC 9 $1,995,000 $221,667
ROCHESTER, MN 8 $1,980,000 $247,500
SUMTER, SC 10 $1,950,000 $195,000
LEWISTON, ID-WA 8 $1,940,000 $242,500
EAST STROUDSBURG, PA 9 $1,925,000 $213,889
NILES, MI 7 $1,925,000 $275,000
CALIFORNIA-LEXINGTON PARK, MD 7 $1,925,000 $275,000
APPLETON, WI 8 $1,860,000 $232,500
NAPA, CA 4 $1,840,000 $460,000
SANTA MARIA-SANTA BARBARA, CA 5 $1,825,000 $365,000
EL PASO, TX 9 $1,815,000 $201,667
ALBANY, GA 7 $1,795,000 $256,429
MICHIGAN CITY-LA PORTE, IN 5 $1,745,000 $349,000
CASPER, WY 6 $1,730,000 $288,333
GETTYSBURG, PA 7 $1,725,000 $246,429
EAU CLAIRE, WI 8 $1,720,000 $215,000
BRUNSWICK, GA 6 $1,690,000 $281,667
ANN ARBOR, MI 6 $1,630,000 $271,667
ROCKY MOUNT, NC 7 $1,575,000 $225,000
IOWA CITY, IA 7 $1,555,000 $222,143
OSHKOSH-NEENAH, WI 6 $1,550,000 $258,333
FLORENCE, SC 7 $1,525,000 $217,857
SPRINGFIELD, IL 8 $1,520,000 $190,000
SIOUX FALLS, SD 6 $1,510,000 $251,667
GAINESVILLE, FL 7 $1,505,000 $215,000
SIOUX CITY, IA-NE-SD 6 $1,480,000 $246,667
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 6 $1,460,000 $243,333
HOMOSASSA SPRINGS, FL 7 $1,445,000 $206,429
ATLANTIC CITY-HAMMONTON, NJ 4 $1,430,000 $357,500
CORVALLIS, OR 5 $1,385,000 $277,000
SEBASTIAN-VERO BEACH, FL 6 $1,380,000 $230,000
BOWLING GREEN, KY 6 $1,370,000 $228,333
KANKAKEE, IL 6 $1,350,000 $225,000
JONESBORO, AR 6 $1,290,000 $215,000
VALDOSTA, GA 5 $1,275,000 $255,000
MADERA, CA 4 $1,250,000 $312,500
GLENS FALLS, NY 7 $1,235,000 $176,429
MUSKEGON, MI 5 $1,225,000 $245,000
MORRISTOWN, TN 5 $1,215,000 $243,000
CHAMPAIGN-URBANA, IL 6 $1,180,000 $196,667
LAFAYETTE-WEST LAFAYETTE, IN 5 $1,175,000 $235,000
SPRINGFIELD, OH 6 $1,140,000 $190,000
COLUMBIA, MO 6 $1,140,000 $190,000
CHAMBERSBURG-WAYNESBORO, PA 5 $1,135,000 $227,000
KINGSTON, NY 4 $1,130,000 $282,500
HATTIESBURG, MS 4 $1,130,000 $282,500
LAKE CHARLES, LA 6 $1,130,000 $188,333
ST. JOSEPH, MO-KS 6 $1,120,000 $186,667
LA CROSSE-ONALASKA, WI-MN 5 $1,115,000 $223,000
LEBANON, PA 4 $1,100,000 $275,000
CLEVELAND, TN 5 $1,075,000 $215,000
JOHNSON CITY, TN 4 $1,060,000 $265,000
HOUMA-THIBODAUX, LA 6 $1,050,000 $175,000
PARKERSBURG-VIENNA, WV 4 $1,030,000 $257,500
FLAGSTAFF, AZ 4 $1,030,000 $257,500
GOLDSBORO, NC 5 $1,025,000 $205,000
SCRANTON--WILKES-BARRE, PA 5 $1,015,000 $203,000
PITTSFIELD, MA 4 $1,010,000 $252,500
WHEELING, WV-OH 4 $990,000 $247,500
LANSING-EAST LANSING, MI 4 $990,000 $247,500
GREENVILLE, NC 4 $980,000 $245,000
WATERTOWN-FORT DRUM, NY 4 $910,000 $227,500
CEDAR RAPIDS, IA 4 $910,000 $227,500
AMES, IA 3 $885,000 $295,000
ROCHESTER, NY 5 $865,000 $173,000
DUBUQUE, IA 4 $860,000 $215,000
BURLINGTON, NC 5 $825,000 $165,000
ST. CLOUD, MN 4 $820,000 $205,000
FLINT, MI 4 $800,000 $200,000
MONROE, MI 4 $790,000 $197,500
WACO, TX 4 $790,000 $197,500
TWIN FALLS, ID 4 $760,000 $190,000
MANSFIELD, OH 4 $760,000 $190,000
ALEXANDRIA, LA 3 $705,000 $235,000
DOTHAN, AL 4 $680,000 $170,000
WALLA WALLA, WA 2 $670,000 $335,000
BECKLEY, WV 3 $665,000 $221,667
DECATUR, AL 3 $645,000 $215,000
POCATELLO, ID 2 $640,000 $320,000
CAPE GIRARDEAU, MO-IL 3 $635,000 $211,667
EL CENTRO, CA 2 $620,000 $310,000
CORPUS CHRISTI, TX 2 $620,000 $310,000
MANKATO, MN 2 $620,000 $310,000
SHEBOYGAN, WI 3 $615,000 $205,000
SEBRING-AVON PARK, FL 3 $605,000 $201,667
KINGSPORT-BRISTOL, TN-VA 2 $600,000 $300,000
SHERMAN-DENISON, TX 2 $590,000 $295,000
BATTLE CREEK, MI 3 $585,000 $195,000
MACON-BIBB COUNTY, GA 3 $565,000 $188,333
BAY CITY, MI 1 $555,000 $555,000
MIDLAND, TX 2 $540,000 $270,000
ELKHART-GOSHEN, IN 3 $535,000 $178,333
HUNTINGTON-ASHLAND, WV-KY-OH 2 $530,000 $265,000
JANESVILLE-BELOIT, WI 2 $530,000 $265,000
KALAMAZOO-PORTAGE, MI 3 $525,000 $175,000
LUBBOCK, TX 3 $525,000 $175,000
WEIRTON-STEUBENVILLE, WV-OH 2 $510,000 $255,000
HOT SPRINGS, AR 2 $500,000 $250,000
JOPLIN, MO 2 $490,000 $245,000
SAGINAW, MI 2 $490,000 $245,000
CHARLESTON, WV 2 $480,000 $240,000
ENID, OK 2 $480,000 $240,000
VINELAND-BRIDGETON, NJ 2 $480,000 $240,000
TRENTON-PRINCETON, NJ 2 $480,000 $240,000
LEWISTON-AUBURN, ME 2 $470,000 $235,000
HARRISONBURG, VA 2 $460,000 $230,000
JEFFERSON CITY, MO 2 $460,000 $230,000
UTICA-ROME, NY 2 $460,000 $230,000
KOKOMO, IN 2 $450,000 $225,000
ERIE, PA 2 $450,000 $225,000
WAUSAU-WESTON, WI 2 $420,000 $210,000
JACKSON, TN 2 $420,000 $210,000
JACKSON, MI 2 $410,000 $205,000
FLORENCE-MUSCLE SHOALS, AL 2 $410,000 $205,000
DECATUR, IL 2 $400,000 $200,000
ANNISTON-OXFORD, AL 2 $390,000 $195,000
OWENSBORO, KY 2 $380,000 $190,000
LAWRENCE, KS 2 $380,000 $190,000
COLLEGE STATION-BRYAN, TX 1 $365,000 $365,000
SANTA CRUZ-WATSONVILLE, CA 1 $355,000 $355,000
TYLER, TX 1 $355,000 $355,000
STATE COLLEGE, PA 1 $355,000 $355,000
ELMIRA, NY 2 $350,000 $175,000
MUNCIE, IN 2 $330,000 $165,000
LONGVIEW, TX 1 $315,000 $315,000
TEXARKANA, TX-AR 1 $305,000 $305,000
MCALLEN-EDINBURG-MISSION, TX 1 $295,000 $295,000
TERRE HAUTE, IN 2 $250,000 $125,000
SAN ANGELO, TX 1 $245,000 $245,000
ODESSA, TX 1 $245,000 $245,000
GRAND ISLAND, NE 1 $235,000 $235,000
BEAUMONT-PORT ARTHUR, TX 1 $225,000 $225,000
LIMA, OH 1 $215,000 $215,000
SYRACUSE, NY 2 $210,000 $105,000
FOND DU LAC, WI 1 $205,000 $205,000
WICHITA FALLS, TX 1 $205,000 $205,000
BLOOMSBURG-BERWICK, PA 1 $195,000 $195,000
WILLIAMSPORT, PA 1 $185,000 $185,000
WATERLOO-CEDAR FALLS, IA 1 $185,000 $185,000
ABILENE, TX 1 $175,000 $175,000
DANVILLE, IL 1 $165,000 $165,000
PINE BLUFF, AR 1 $155,000 $155,000
CUMBERLAND, MD-WV 1 $145,000 $145,000
CARBONDALE-MARION, IL 1 $135,000 $135,000
GADSDEN, AL 1 $115,000 $115,000

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% 96 $30,260,000 $315,208
3-4% 10,715 $3,289,785,000 $307,026
4-5% 7,225 $2,135,885,000 $295,624
5-6% 1,281 $334,655,000 $261,245
6-7% 46 $14,770,000 $321,087
7-8% 8 $4,060,000 $507,500
Over 8% 9 $1,905,000 $211,667

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 298 $23,330,000 $78,289
$100k-200k 3,728 $613,650,000 $164,606
$200k-400k 11,871 $3,328,525,000 $280,391
$400k-600k 2,725 $1,278,545,000 $469,191
$600k-1000k 714 $510,530,000 $715,028
$Over $1MM 44 $56,740,000 $1,289,545

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% 174 $44,600,000 $256,322
40-60% 894 $261,220,000 $292,192
60-80% 4,091 $1,255,055,000 $306,784
80-100% 12,403 $3,710,465,000 $299,159
Over 100% 421 $129,235,000 $306,971
Under 20% 14 $3,000,000 $214,286

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 3,250 $1,183,050,000 $364,015
$150k-250k 1,337 $578,255,000 $432,502
$50k-75k 4,469 $1,109,915,000 $248,359
$50k-or less 2,467 $488,895,000 $198,174
$75k-100k 3,302 $990,520,000 $299,976
$Over $250k 420 $211,720,000 $504,095

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 10,716 $3,173,560,000 $296,152
Not provided 5,824 $1,739,630,000 $298,700
Black 2,234 $674,490,000 $301,920
Asian 440 $168,860,000 $383,773
American Indian 98 $27,290,000 $278,469
Native Hawaiian 61 $21,385,000 $350,574
Asian Indian 3 $4,755,000 $1,585,000
Other Pacific Islander 1 $495,000 $495,000
Japanese 1 $425,000 $425,000
Chinese 1 $225,000 $225,000
Other Asian 1 $205,000 $205,000

Approval Rates

Total approvals of all applications
94.10%

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
63.79%

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 19,380 $5,811,320,000 $299,862

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,728 $518,060,000 $299,803
$1k-2k 4,572 $1,248,330,000 $273,038
$2k-3k 1,902 $520,060,000 $273,428
$3k-4k 3,852 $1,044,000,000 $271,028
$5k+ 6,491 $2,262,315,000 $348,531

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 4 $520,000 $130,000
Single Family (1-4 Units):Site-Built 19,376 $5,810,800,000 $299,897