First Business Bank Mortgage Rates, Fees & Info
MADISON, WILEI: 549300F247N2IU8SC024
Tax ID: 39-0394950
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Business Bank is a smaller bank specializing in Home Purchase loans. First Business Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Madison, Iowa City, Whitewater, and Oshkosh among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)First Business Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
22Origination Dollar Volume (All Markets)
$61,180,000Top 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 |
---|---|---|---|---|---|
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 5 | $30,895,000 | $6,179,000 | $0 | 0.00% |
MADISON, WI (FHA|USDA|VA) | 7 | $14,645,000 | $2,092,143 | $0 | 0.00% |
IOWA CITY, IA (FHA|USDA|VA) | 1 | $10,205,000 | $10,205,000 | $0 | 0.00% |
Whitewater, WI (FHA|USDA|VA) | 4 | $3,920,000 | $980,000 | $0 | 0.00% |
OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 0.00% |
KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
GREEN BAY, WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 22 | $61,180,000 | $2,780,909 | $0 | 0.00% |
For 2018, First Business Bank's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2018, First Business Bank's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 22 | $61,180,000 | $2,780,909 | $0 | 0.00% |
For 2018, First Business Bank's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
2018 saw First Business Bank place emphasis on $1MM+ loans with 8 originations, totaling $54,320,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$250k+ | 3 | $1,555,000 | $518,333 | $0 | 0.00% |
$150k-250k | 2 | $470,000 | $235,000 | $0 | 0.00% |
First Business Bank lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 22 | $61,180,000 | $2,780,909 | $0 | 0.00% |
First Business Bank lent most frequently to those with DTI ratios of Exempt%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
First Business Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.91%
First Business Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 22 | $61,180,000 | $2,780,909 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 15 | $58,985,000 | $3,932,333 |
Single Family (1-4 Units):Site-Built | 7 | $2,195,000 | $313,571 |
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |