Popular Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 549300E0WPRCJMXMUM09

Tax ID: 52-2126008

3.3 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Popular Bank is a smaller bank specializing in Home Purchase and Refi loans. Popular Bank has a high proportion of conventional loans. Their top markets include New York, Miami, Key West, Poughkeepsie, and Bridgeport among others. Popular Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Popular Bank is typically a high fee lendor.


Originations

684

Origination Dollar Volume (All Markets)

$727,400,000

Employee count

667

Awards

Popular Bank 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Popular Bank's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Popular Bank's average total fees for a 30 year fixed rate mortgage are $6,820.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 374 $453,230,000 $1,211,845 $6,708 3.01%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 239 $236,695,000 $990,356 $6,578 3.17%
Key West, FL (FHA|USDA|VA) 6 $7,080,000 $1,180,000 $10,637 2.96%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 19 $5,585,000 $293,947 $4,854 2.95%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 5 $4,765,000 $953,000 $6,680 3.03%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $2,355,000 $785,000 $4,665 3.08%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $2,320,000 $1,160,000 $15,650 3.00%
SANTA FE, NM (FHA|USDA|VA) 1 $1,615,000 $1,615,000 $8,960 2.75%
Steamboat Springs, CO (FHA|USDA|VA) 2 $1,540,000 $770,000 $4,546 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,420,000 $355,000 $6,061 2.91%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $4,031 2.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $965,000 $965,000 $15,062 3.13%
Glenwood Springs, CO (FHA|USDA|VA) 1 $905,000 $905,000 $5,231 2.63%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $865,000 $865,000 $0 3.25%
Sevierville, TN (FHA|USDA|VA) 1 $785,000 $785,000 $10,730 2.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $765,000 $765,000 $4,287 3.00%
Outside of Metro Areas 3 $675,000 $225,000 $4,297 2.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $660,000 $330,000 $6,352 3.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $595,000 $198,333 $3,524 2.67%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,409 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $460,000 $230,000 $3,764 3.06%
Arcadia, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 3.13%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $420,000 $210,000 $3,394 3.25%
KINGSTON, NY (FHA|USDA|VA) 1 $415,000 $415,000 $4,938 2.63%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $370,000 $185,000 $2,937 2.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $305,000 $305,000 $3,254 3.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,236 2.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,037 3.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $165,000 $165,000 $4,560 3.25%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,151 3.13%

Popular Bank's top markets include New York, Miami, Key West, Poughkeepsie, and Bridgeport among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 684 $727,400,000 $1,063,450 $6,563 3.06%

For the 2021 period, Popular Bank's most frequently originated loan type of loans were Conventional, with 684 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 323 $362,285,000 $1,121,625 $6,934 3.05%
Refi 233 $297,165,000 $1,275,386 $5,971 3.06%
Cash Out Refi 101 $51,355,000 $508,465 $6,546 3.12%
Other 27 $16,595,000 $614,630 $6,662 2.99%

For the 2021, Popular Bank's most frequently cited loan purpose of loans were Home Purchase, with 323 originations. The 2nd most popular reason of loans were Refi, with 233 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 501 $318,655,000 $636,038 $6,820 3.03%
10 Year 84 $181,380,000 $2,159,286 $3,293 3.48%
15 Year 61 $26,685,000 $437,459 $4,812 2.66%
5 Year 15 $93,835,000 $6,255,667 $0 3.32%
20 Year 14 $3,850,000 $275,000 $5,149 3.00%
Other 6 $36,380,000 $6,063,333 $0 3.34%
1 Year 2 $54,510,000 $27,255,000 $0 3.25%
3 Year 1 $12,105,000 $12,105,000 $0 3.04%

For the 2021, Popular Bank's most frequently cited loan length of loans were 30 Year, with 501 originations. The 2nd most popular length of loans were 10 Year, with 84 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 198 $128,030,000 $646,616
$1k-2k 138 $57,900,000 $419,565
$2k-3k 69 $38,005,000 $550,797
$3k-4k 51 $37,285,000 $731,078
$5k+ 49 $52,505,000 $1,071,531

$6,820 of loans were Popular Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 198 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 333 $271,645,000 $815,751
3-4% 290 $431,580,000 $1,488,207
<2.5% 48 $18,190,000 $378,958
4-5% 13 $5,985,000 $460,385

During 2021, Popular Bank's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 333 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 182 $54,360,000 $298,681 $4,644 3.07%
$1MM+ 155 $487,455,000 $3,144,871 $11,569 3.10%
$600k-1MM 142 $107,830,000 $759,366 $7,457 3.06%
$400k-600k 136 $67,440,000 $495,882 $6,198 3.00%
$100k-200k 63 $9,835,000 $156,111 $4,092 3.04%
$100,000 or less 6 $480,000 $80,000 $3,858 3.48%

2021 saw Popular Bank place emphasis on $200k-400k loans with 182 originations, totaling $54,360,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 204 $198,450,000 $972,794 $8,622 2.92%
$100k-150k 125 $49,635,000 $397,080 $5,555 3.04%
$150k-250k 124 $64,470,000 $519,919 $5,994 2.96%
$75k-100k 56 $18,400,000 $328,571 $5,069 3.06%
$50k-75k 54 $13,430,000 $248,704 $4,746 3.04%
$50k or less 11 $1,505,000 $136,818 $3,614 3.09%

Popular Bank lent most frequently to those with incomes in the $250k+ range, with 204 originations. The second most popular income band? $100k-150k, with 125 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 102 $60,940,000 $597,451 $6,615 2.96%
30-36% 98 $60,700,000 $619,388 $6,588 2.95%
<20% 48 $34,660,000 $722,083 $6,945 3.02%
40% 36 $26,600,000 $738,889 $7,817 2.91%
49% 30 $13,580,000 $452,667 $5,290 3.05%
48% 29 $11,565,000 $398,793 $5,770 3.14%
43% 27 $14,715,000 $545,000 $6,383 3.00%
47% 25 $8,725,000 $349,000 $5,313 3.07%
41% 25 $14,435,000 $577,400 $6,717 3.03%
42% 23 $16,985,000 $738,478 $6,684 2.89%
37% 23 $21,805,000 $948,043 $7,812 2.82%
44% 23 $13,235,000 $575,435 $6,972 3.03%
45% 18 $7,790,000 $432,778 $6,883 3.09%
39% 17 $10,225,000 $601,471 $5,150 3.04%
36% 17 $10,965,000 $645,000 $6,059 2.97%
38% 16 $9,160,000 $572,500 $5,753 2.98%
46% 10 $6,320,000 $632,000 $7,516 2.96%
50-60% 7 $3,485,000 $497,857 $5,770 2.93%

Popular Bank lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? 30-36%, with 98 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 109 $380,855,000 $3,494,083 $0 3.46%
White 440 $251,370,000 $571,295 $6,389 2.98%
Asian 56 $41,400,000 $739,286 $6,758 2.90%
Not provided 47 $37,625,000 $800,532 $8,178 3.04%
Black 24 $11,220,000 $467,500 $6,288 3.11%
American Indian 1 $2,325,000 $2,325,000 $16,290 2.63%
Asian Indian 5 $1,855,000 $371,000 $4,065 3.40%
Filipino 1 $415,000 $415,000 $5,070 3.63%
Native Hawaiian 1 $335,000 $335,000 $0 3.38%

Approval Rates

Total approvals of all applications
78.61%

Popular Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
64.63%

Popular 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
NA 684 $727,400,000 $1,063,450

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
684 $727,400,000 $1,063,450

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 62 $35,280,000 $569,032 $5,420 3.07%
40-60% 160 $172,980,000 $1,081,125 $5,956 3.01%
60-80% 365 $459,735,000 $1,259,548 $7,176 3.10%
80-100% 93 $53,305,000 $573,172 $6,092 3.01%
Under 20% 4 $6,100,000 $1,525,000 $7,033 3.42%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
POPULAR BANK Conventional home mortgage Closing on a mortgage 1 33.3%
POPULAR BANK Conventional home mortgage Incorrect information on your report 1 33.3%
POPULAR BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Popular Bank 1046-48 Southern Boulevard New York City, NY 10459 Full Service B&M $0
Popular Bank 134 Delancey Street New York City, NY 10002 Full Service B&M $111,139
Popular Bank 15-25a Graham Avenue New York City, NY 11206 Full Service B&M $81,903
Popular Bank 1590 Northeast Miami Gardens Drive North Miami Beach, FL 33179 Full Service B&M $205,323
Popular Bank 1590 Northeast Miami Gardes Drive North Miami Beach, FL 33179 Full Service B&M $137,321
Popular Bank 1619 Sheepshead Bay Road New York City, NY 11235 Full Service B&M $176,310
Popular Bank 1620 Pitkin Avenue New York City, NY 11212 Full Service B&M $70,228
Popular Bank 1620 West 49th Street Hialeah, FL 33012 Full Service B&M $50,660
Popular Bank 164 East 116th Street New York City, NY 10029 Full Service B&M $98,391
Popular Bank 180 Dyckman Street New York City, NY 10040 Full Service B&M $36,949
Popular Bank 1979 Ralph Avenue Brooklyn, NY 11234 Full Service B&M $88,859
Popular Bank 2121 Avenue U Brooklyn, NY 11229 Full Service B&M $66,819
Popular Bank 231 West 125th Street New York City, NY 10027 Full Service B&M $0
Popular Bank 2317 Ponce De Leon Blvd Coral Gables, FL 33134 Full Service B&M $150,306
Popular Bank 285 Madison Avenue New York, NY 10017 Full Service B&M $295,803
Popular Bank 2875 North East 191 Street, Suite 101 Aventura, FL 33180 Full Service B&M $90,556
Popular Bank 30-26 Steinway Street Long Island City, NY 11103 Full Service B&M $58,647
Popular Bank 301 71st Street Miami Beach, FL 33141 Full Service B&M $81,347
Popular Bank 301 East Fordham Road New York City, NY 10460 Full Service B&M $53,212
Popular Bank 345 Park Avenue South New York, NY 10010 Full Service B&M $0
Popular Bank 374 East 149th Street Bronx, NY 10455 Full Service B&M $121,038
Popular Bank 4043 Broadway New York, NY 10032 Full Service B&M $79,656
Popular Bank 43 West 14th Street New York, NY 10011 Full Service B&M $127,137
Popular Bank 500 Bloomfield Avenue Newark, NJ 7107 Full Service B&M $94,167
Popular Bank 5216 Fifth Avenue New York City, NY 11220 Full Service B&M $50,640
Popular Bank 53-10 Bergen Line Avenue West New York, NJ 7093 Full Service B&M $108,461
Popular Bank 539 Eastern Parkway New York City, NY 11216 Full Service B&M $226,240
Popular Bank 615 West 181st Street New York City, NY 10033 Full Service B&M $78,250
Popular Bank 631 State Street Perth Amboy, NJ 8861 Full Service B&M $40,112
Popular Bank 645 East Tremont Ave Bronx, NY 10457 Full Service B&M $137,683
Popular Bank 71-24 Austin Street Forest Hills, NY 11375 Full Service B&M $47,386
Popular Bank 730 Columbus Avenue New York, NY 10025 Full Service B&M $128,561
Popular Bank 7900 Miami Lakes Drive West Miami Lakes, FL 33016 Full Service B&M $1,430,548
Popular Bank 817 Elizabeth Avenue Elizabeth, NJ 7201 Full Service B&M $115,532
Popular Bank 8180 Northwest 36th Street Miami, FL 33172 Full Service B&M $139,169
Popular Bank 83-20/22 Baxter Avenue New York City, NY 11373 Full Service B&M $83,802
Popular Bank 8401 West Oakland Park Boulevard Sunrise, FL 33351 Full Service B&M $56,431
Popular Bank 85 Broad Street New York, NY 10004 Full Service B&M $2,346,059
Popular Bank 8501 Kennedy Blvd North Bergen, NJ 7047 Full Service B&M $0
Popular Bank 8875 Dadeland Blvd Miami, FL 33156 Full Service B&M $141,391
Popular Bank 918 Seneca Avenue Ridgewood, NY 11385 Full Service B&M $60,174
Popular Bank 11 West 51st Street New York, NY 10019 Full Service B&M $175,720
Popular Bank 1221 Brickell Avenue Miami, FL 33131 Full Service B&M $97,282

For 2021, Popular Bank had 43 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $364,958
Net interest income $321,155
Total noninterest income $24,209
Gross Fiduciary activities income $0
Service charges on deposit accounts $11,245
Trading account gains and fees $0
Additional Noninterest Income $12,964
Pre-tax net operating income $190,120
Securities gains (or losses, -) $477
Income before extraordinary items $134,059
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $134,059
Minority interest net income $0
Net income $134,059
Sale, conversion, retirement of capital stock, net $0
Net operating income $133,682

Popular Bank's gross interest income from loans was $364,958,000.
Popular Bank's net interest income from loans was $321,155,000.
Popular Bank's fee based income from loans was $11,245,000.
Popular Bank's net income from loans was $134,059,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $43,803
Provision for credit losses $-56,896
Total noninterest expense $212,140
Salaries and employee benefits $86,816
Premises and equipment expense $38,444
Additional noninterest expense $86,880
Applicable income taxes $56,538
Net charge-offs $970
Cash dividends $0

Popular Bank's interest expense for loans was $43,803,000.
Popular Bank's payroll and benefits expense were $86,816,000.
Popular Bank's property, plant and equipment expenses $38,444,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 2.0%
HELOC loans 7.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $7,794,610
Deposits held in domestic offices $7,794,610
Deposits by Individuals, partnerships, and corporations $7,368,870
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $419,447
Deposits by Commercial banks and other depository institutions in U.S. $6,293
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $3,163,720
Demand deposits $1,832,688
Nontransaction accounts $4,630,890
Money market deposit accounts (MMDAs) $2,175,173
Other savings deposits (excluding MMDAs) $1,289,617
Total time deposits $1,166,100
Total time and savings deposits $5,961,922
Noninterest-bearing deposits $1,832,688
Interest-bearing deposits $5,961,922
Retail deposits $7,052,582
IRAs and Keogh plan accounts $56,167
Brokered deposits $535,448
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $10,389,650
Cash & Balances due from depository institutions $298,831
Interest-bearing balances $205,801
Total securities $930,634
Federal funds sold & reverse repurchase $0
Net loans and leases $8,277,303
Loan and leases loss allowance $101,204
Trading account assets $0
Bank premises and fixed assets $103,133
Other real estate owned $1,459
Goodwill and other intangibles $396,028
All other assets $382,262

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $10,389,650
Total Liabilities $8,475,758
Total deposits $7,794,610
Interest-bearing deposits $5,961,922
Deposits held in domestic offices $7,794,610
% insured (estimated) $65
Federal funds purchased and repurchase agreements $46,028
Trading liabilities $0
Other borrowed funds $494,889
Subordinated debt $0
All other liabilities $140,231

Issued Loan Types

Type Value (in 000's)
Net loans and leases $8,277,303
Loan and leases loss allowance $101,204
Total loans and leases (domestic) $8,378,507
All real estate loans $6,420,791
Real estate loans in domestic offices $6,420,791
Construction and development loans $650,312
Residential 1-4 family construction $6,156
Other construction, all land development and other land $644,156
Loans secured by nonfarm nonresidential properties $2,671,836
Nonfarm nonresidential secured by owner-occupied properties $404,321
Commercial real estate & other non-farm, non-residential $2,267,515
Multifamily residential real estate $1,807,861
1-4 family residential loans $1,290,782
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $498,861
To non-U.S. addressees $0
Loans to individuals $155,398
Credit card loans $10
Related Plans $5,583
Consumer Auto Loans $0
Other loans to individuals $149,805
All other loans & leases $1,303,457
Loans to foreign governments and official institutions $0
Other loans $1,198,010
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $8,851
Non 1-4 family restructured loans & leases $163
Total loans and leases (foreign) $0

Popular Bank had $8,277,303,000 of loans outstanding in 2021. $6,420,791,000 of loans were in real estate loans. $650,312,000 of loans were in development loans. $1,807,861,000 of loans were in multifamily mortgage loans. $1,290,782,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $10,000 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 286 $106,548 $372,545
Nonfarm, nonresidential loans - <$100k 7 $314 $44,857
Nonfarm, nonresidential loans - $100-250k 51 $6,346 $124,431
Nonfarm, nonresidential loans - $250k-1MM 228 $99,888 $438,105
Commercial & Industrial, US addressed loans - <$1MM 791 $84,275 $106,542
Commercial & Industrial, US addressed loans - <$100k 518 $13,319 $25,712
Commercial & Industrial, US addressed loans - $100-250k 132 $18,745 $142,008
Commercial & Industrial, US addressed loans - $250k-1MM 141 $52,211 $370,291