Ocean Bank Mortgage Rates, Fees & InfoMiami, FL
Tax ID: 59-2237280
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewOcean Bank is a smaller bank specializing in Home Purchase loans. Ocean Bank has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Cape Coral, Deltona, and Tampa among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)
Ocean Bank has an 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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Origination Dollar Volume (All Markets)$558,265,000
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|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||51||$466,675,000||$9,150,490||$0||0.00%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||1||$39,775,000||$39,775,000||$0||0.00%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$30,410,000||$15,205,000||$0||0.00%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||1||$19,505,000||$19,505,000||$0||0.00%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$1,655,000||$1,655,000||$0||0.00%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$245,000||$245,000||$0||0.00%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Ocean Bank's most frequently originated type of loan was Conventional, with 57 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Ocean Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 15 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Ocean Bank's most frequently cited loan duration was Other, with 57 originations.
2022 saw Ocean Bank place emphasis on $1MM+ loans with 40 originations, totaling $549,620,000 in origination value.
|Applicant Income||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Ocean Bank lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
|DTI Ratio||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Ocean Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.
|Applicant Ethnicity||Originations||Total Value||Average Loan||Average Fees||Average Rate|
Approval RatesTotal approvals of all applications
Ocean Bank has a below average approval rate.
Pick RateApprovals leading to origination
Ocean Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|Ocwen Financial Corporation||Conventional home mortgage||Closing on a mortgage||1||3.4%|
|Ocwen Financial Corporation||Conventional home mortgage||Struggling to pay mortgage||9||31.0%|
|Ocwen Financial Corporation||Conventional home mortgage||Trouble during payment process||7||24.1%|
|Ocwen Financial Corporation||FHA mortgage||Closing on a mortgage||1||3.4%|
|Ocwen Financial Corporation||FHA mortgage||Problem with a credit reporting company's investigation into an existing problem||1||3.4%|
|Ocwen Financial Corporation||FHA mortgage||Struggling to pay mortgage||3||10.3%|
|Ocwen Financial Corporation||FHA mortgage||Trouble during payment process||3||10.3%|
|Ocwen Financial Corporation||Reverse mortgage||Struggling to pay mortgage||1||3.4%|
|Ocwen Financial Corporation||Reverse mortgage||Trouble during payment process||2||6.9%|
|Ocwen Financial Corporation||VA mortgage||Trouble during payment process||1||3.4%|