Ocean Bank Mortgage Rates, Fees & Info
Miami, FLLEI: 549300D4L76B477GHY32
Tax ID: 59-2237280
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Ocean 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.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
57Origination Dollar Volume (All Markets)
$558,265,000Top Markets
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% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 57 | $558,265,000 | $9,794,123 | $0 | 0.00% |
For 2022, Ocean Bank's most frequently originated type of loan was Conventional, with 57 originations.
Loan Reason
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 Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 57 | $558,265,000 | $9,794,123 | $0 | 0.00% |
For 2022, Ocean Bank's most frequently cited loan duration was Other, with 57 originations.
Loan Sizing
2022 saw Ocean Bank place emphasis on $1MM+ loans with 40 originations, totaling $549,620,000 in origination value.
Applicant Income
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 |
|---|---|---|---|---|---|
| Exempt% | 57 | $558,265,000 | $9,794,123 | $0 | 0.00% |
Ocean Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 47 | $545,265,000 | $11,601,383 | $0 | 0.00% |
| White | 10 | $13,000,000 | $1,300,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications76.80%
Ocean Bank has a below average approval rate.
Pick Rate
Approvals leading to origination42.11%
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 |
|---|---|---|---|
| Exempt | 57 | $558,265,000 | $9,794,123 |
Complaints
| 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% |