First Business Bank Mortgage Rates, Fees & Info
MADISON, WILEI: 549300F247N2IU8SC024
Tax ID: 39-0394950
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Mortgage Data
Review & Overview
First Business Bank is a smaller bank specializing in Home Purchase and Refi loans. First Business Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Kansas City, Whitewater, Madison, and Green Bay among others. We have data for 8 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.
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Originations
18Origination Dollar Volume (All Markets)
$67,940,000Top 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 | $56,495,000 | $11,299,000 | $0 | 0.00% |
KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $3,980,000 | $1,990,000 | $0 | 0.00% |
Whitewater, WI (FHA|USDA|VA) | 3 | $3,115,000 | $1,038,333 | $0 | 0.00% |
MADISON, WI (FHA|USDA|VA) | 3 | $2,085,000 | $695,000 | $0 | 0.00% |
GREEN BAY, WI (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $0 | 0.00% |
Outside of Metro Areas | 2 | $740,000 | $370,000 | $0 | 0.00% |
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
APPLETON, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 18 | $67,940,000 | $3,774,444 | $0 | 0.00% |
For 2019, First Business Bank's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
For 2019, First Business Bank's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 18 | $67,940,000 | $3,774,444 | $0 | 0.00% |
For 2019, First Business Bank's most frequently cited loan duration was Other, with 18 originations.
Loan Sizing
2019 saw First Business Bank place emphasis on $1MM+ loans with 9 originations, totaling $63,865,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$250k+ | 3 | $915,000 | $305,000 | $0 | 0.00% |
$100k-150k | 1 | $145,000 | $145,000 | $0 | 0.00% |
$150k-250k | 1 | $905,000 | $905,000 | $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? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 18 | $67,940,000 | $3,774,444 | $0 | 0.00% |
First Business Bank lent most frequently to those with DTI ratios of Exempt%, with 18 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 13 | $65,975,000 | $5,075,000 | $0 | 0.00% |
White | 5 | $1,965,000 | $393,000 | $0 | 0.00% |
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 originationPoints and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 18 | $67,940,000 | $3,774,444 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 11 | $65,475,000 | $5,952,273 |
Single Family (1-4 Units):Site-Built | 7 | $2,465,000 | $352,143 |
Complaints
Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |
FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |