Sterling Bank Mortgage Rates, Fees & Info
Poplar Bluff, MOLEI: 549300DNP4W96HB6LV07
Tax ID: 20-1513021
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Mortgage Data
Review & Overview
Sterling Bank is a smaller bank specializing in Home Purchase and Refi loans. Sterling Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Oklahoma City, Waycross, Columbia, and Florence among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Sterling Bank has an above 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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Originations
77Origination Dollar Volume (All Markets)
$51,315,000Top 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 11 | $18,755,000 | $1,705,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $10,605,000 | $10,605,000 | $0 | 0.00% |
| Waycross, GA (FHA|USDA|VA) | 1 | $6,355,000 | $6,355,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $4,905,000 | $4,905,000 | $0 | 0.00% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $4,905,000 | $4,905,000 | $0 | 0.00% |
| Poplar Bluff, MO (FHA|USDA|VA) | 30 | $3,300,000 | $110,000 | $0 | 0.00% |
| Outside of Metro Areas | 20 | $1,220,000 | $61,000 | $0 | 0.00% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $0 | 0.00% |
| Sikeston, MO (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 0.00% |
| Kennett, MO (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| West Plains, MO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 77 | $51,315,000 | $666,429 | $0 | 0.00% |
For 2019, Sterling Bank's most frequently originated type of loan was Conventional, with 77 originations.
Loan Reason
For 2019, Sterling Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 77 | $51,315,000 | $666,429 | $0 | 0.00% |
For 2019, Sterling Bank's most frequently cited loan duration was Other, with 77 originations.
Loan Sizing
2019 saw Sterling Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,790,000 in origination value.
Applicant Income
Sterling Bank lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 77 | $51,315,000 | $666,429 | $0 | 0.00% |
Sterling Bank lent most frequently to those with DTI ratios of Exempt%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.35%
Sterling Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.92%
Sterling Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 77 | $51,315,000 | $666,429 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STERLING BANCORP | Conventional home mortgage | Closing on a mortgage | 2 | 12.5% |
| STERLING BANCORP | Conventional home mortgage | Struggling to pay mortgage | 2 | 12.5% |
| STERLING BANCORP | Conventional home mortgage | Trouble during payment process | 8 | 50.0% |
| STERLING BANCORP | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 18.8% |
| STERLING BANCORP | Other type of mortgage | Trouble during payment process | 1 | 6.3% |