First Entertainment Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 549300F6S4S7QMOUVG59

Tax ID: 95-2513485

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Entertainment is a smaller mortgage company specializing in Refi loans. First Entertainment has a high proportion of conventional loans. Their top markets include Los Angeles, San Diego, Oxnard, Riverside, and Madera among others. First Entertainment has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Entertainment is typically an average fee lendor.


Originations

612

Origination Dollar Volume (All Markets)

$320,940,000

Awards

FIRST ENTERTAINMENT 30 Year Conventional Loans silver FIRST ENTERTAINMENT 30 Year Conventional Loans gold FIRST ENTERTAINMENT 30 Year Conventional Loans silver FIRST ENTERTAINMENT 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

First Entertainment's average 30 year fixed rate mortgage of loans were 2.98%.

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

This yields a difference of -0.17%.

Relative Fees

First Entertainment's average total fees for a 30 year fixed rate mortgage are $3,606.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 525 $271,445,000 $517,038 $3,092 2.79%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 9 $12,295,000 $1,366,111 $4,648 2.83%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 26 $11,540,000 $443,846 $2,497 2.77%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 34 $9,950,000 $292,647 $3,108 2.90%
MADERA, CA (FHA|USDA|VA) 2 $4,760,000 $2,380,000 $4,329 3.13%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $2,930,000 $1,465,000 $2,814 3.13%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,450,000 $725,000 $3,134 3.13%
CHICO, CA (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 3.88%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $3,041 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $1,310,000 $655,000 $4,456 2.81%
SALINAS, CA (FHA|USDA|VA) 1 $655,000 $655,000 $4,908 3.63%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $600,000 $300,000 $2,566 2.75%
Outside of Metro Areas 1 $505,000 $505,000 $9,526 3.00%
VALLEJO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $4,489 2.88%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $260,000 $130,000 $2,119 2.50%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $125,000 $125,000 $2,173 2.50%

First Entertainment's top markets include Los Angeles, San Diego, Oxnard, Riverside, and Madera among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 612 $320,940,000 $524,412 $3,101 2.80%

For the 2021 period, First Entertainment's most frequently originated loan type of loans were Conventional, with 612 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 532 $254,880,000 $479,098 $2,634 2.76%
Home Purchase 68 $44,290,000 $651,324 $6,819 3.03%
Cash Out Refi 12 $21,770,000 $1,814,167 $0 3.55%

For the 2021, First Entertainment's most frequently cited loan purpose of loans were Refi, with 532 originations. The 2nd most popular reason of loans were Home Purchase, with 68 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 402 $222,480,000 $553,433 $3,606 2.98%
15 Year 125 $39,575,000 $316,600 $2,003 2.28%
20 Year 43 $13,975,000 $325,000 $2,254 2.63%
10 Year 21 $5,655,000 $269,286 $1,741 2.18%
5 Year 19 $36,765,000 $1,935,000 $0 3.53%
Other 2 $2,490,000 $1,245,000 $1,290 3.19%

For the 2021, First Entertainment's most frequently cited loan length of loans were 30 Year, with 402 originations. The 2nd most popular length of loans were 15 Year, with 125 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 484 $228,130,000 $471,343
$1k-2k 41 $14,845,000 $362,073
$5k+ 41 $49,685,000 $1,211,829
$3k-4k 26 $19,650,000 $755,769
$2k-3k 19 $8,455,000 $445,000

$3,606 of loans were First Entertainment's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 484 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 274 $141,290,000 $515,657
<2.5% 168 $54,920,000 $326,905
3-4% 168 $124,070,000 $738,512
4-5% 2 $660,000 $330,000

During 2021, First Entertainment's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 274 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 211 $62,975,000 $298,460 $2,286 2.72%
$400k-600k 158 $76,440,000 $483,797 $3,172 2.88%
$600k-1MM 103 $82,715,000 $803,058 $4,434 2.99%
$100k-200k 80 $12,400,000 $155,000 $1,910 2.51%
$1MM+ 52 $85,750,000 $1,649,038 $6,925 3.10%
$100,000 or less 8 $660,000 $82,500 $1,596 2.22%

2021 saw First Entertainment place emphasis on $200k-400k loans with 211 originations, totaling $62,975,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 161 $85,905,000 $533,571 $3,498 2.82%
$100k-150k 153 $63,035,000 $411,993 $3,102 2.75%
$250k+ 95 $79,845,000 $840,474 $3,784 2.85%
$75k-100k 82 $26,890,000 $327,927 $2,310 2.77%
$50k-75k 72 $19,060,000 $264,722 $2,546 2.70%
$50k or less 28 $5,510,000 $196,786 $2,247 2.71%

First Entertainment lent most frequently to those with incomes in the $150k-250k range, with 161 originations. The second most popular income band? $100k-150k, with 153 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 149 $65,705,000 $440,973 $2,842 2.67%
30-36% 108 $51,610,000 $477,870 $3,257 2.80%
<20% 64 $29,620,000 $462,813 $2,185 2.71%
39% 28 $12,780,000 $456,429 $3,838 2.70%
42% 25 $11,555,000 $462,200 $4,222 2.87%
40% 24 $14,390,000 $599,583 $4,019 2.81%
36% 22 $12,480,000 $567,273 $2,956 2.83%
44% 21 $10,985,000 $523,095 $3,462 2.84%
38% 21 $8,765,000 $417,381 $3,511 2.82%
37% 18 $9,280,000 $515,556 $2,557 2.85%
45% 17 $7,055,000 $415,000 $3,261 3.02%
46% 17 $10,295,000 $605,588 $3,336 3.11%
43% 15 $7,645,000 $509,667 $2,886 2.95%
41% 15 $6,145,000 $409,667 $2,958 2.88%
49% 14 $6,380,000 $455,714 $3,480 2.78%
47% 14 $5,420,000 $387,143 $3,069 2.76%
48% 11 $4,315,000 $392,273 $2,703 2.77%
>60% 4 $4,020,000 $1,005,000 $2,424 2.81%
50-60% 3 $845,000 $281,667 $5,894 2.63%

First Entertainment lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 108 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 326 $152,660,000 $468,282 $3,213 2.79%
Not provided 200 $95,390,000 $476,950 $2,967 2.75%
Not applicable 19 $38,435,000 $2,022,895 $0 3.51%
Asian 27 $13,225,000 $489,815 $3,062 2.71%
Black 22 $11,400,000 $518,182 $3,175 3.00%
American Indian 7 $3,705,000 $529,286 $3,181 2.95%
Chinese 1 $2,505,000 $2,505,000 $3,585 3.25%
3 $1,345,000 $448,333 $1,634 2.71%
Filipino 2 $1,200,000 $600,000 $3,326 3.13%
Japanese 3 $475,000 $158,333 $1,605 2.13%
Native Hawiian 1 $305,000 $305,000 $1,410 2.50%
Asian Indian 1 $295,000 $295,000 $1,945 2.63%

Approval Rates

Total approvals of all applications
95.45%

First Entertainment has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
22.29%

First Entertainment 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
10760.0 1 $1,855,000 $1,855,000
11975.0 1 $2,095,000 $2,095,000
12000.0 1 $2,105,000 $2,105,000
12850.0 1 $2,275,000 $2,275,000
13410.0 1 $2,385,000 $2,385,000
13875.0 1 $2,475,000 $2,475,000
15190.0 1 $4,345,000 $4,345,000
22200.0 1 $4,145,000 $4,145,000
23985.0 1 $4,495,000 $4,495,000
5375.0 1 $975,000 $975,000
5750.0 1 $855,000 $855,000
5820.0 1 $865,000 $865,000
6170.0 1 $935,000 $935,000
6185.0 1 $935,000 $935,000
7360.0 1 $1,175,000 $1,175,000
7375.0 1 $1,175,000 $1,175,000
8500.0 1 $1,405,000 $1,405,000
8625.0 1 $1,655,000 $1,655,000
8875.0 1 $1,475,000 $1,475,000
9750.0 1 $1,655,000 $1,655,000
NA 592 $281,660,000 $475,777

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
612 $320,940,000 $524,412

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 184 $68,080,000 $370,000 $2,182 2.64%
40-60% 171 $91,375,000 $534,357 $3,039 2.80%
60-80% 160 $119,990,000 $749,938 $4,195 3.05%
80-100% 40 $25,790,000 $644,750 $5,369 3.08%
Over 100% 2 $5,320,000 $2,660,000 $0 3.50%
Under 20% 55 $10,385,000 $188,818 $1,876 2.43%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST INTERSTATE BANCSYSTEM, INC. Conventional home mortgage Trouble during payment process 1 50.0%
FIRST INTERSTATE BANCSYSTEM, INC. Other type of mortgage Trouble during payment process 1 50.0%