Redwood Residential Acquisition Corporation Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300F6Y1YO2YXN6135
Tax ID: 27-1438405
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Redwood Residential Acquisition Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Redwood Residential Acquisition Corporation has a high proportion of conventional loans. Their top markets include Seattle, San Francisco, Los Angeles, Dallas, and Austin among others. Redwood Residential Acquisition Corporation 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. Redwood Residential Acquisition Corporation is typically a high fee lendor.Originations
888Origination Dollar Volume (All Markets)
$852,300,000Awards
REDWOOD RESIDENTIAL ACQUISITION CORPORATION - 2021
REDWOOD RESIDENTIAL ACQUISITION CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for REDWOOD RESIDENTIAL ACQUISITION CORPORATION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Redwood Residential Acquisition Corporation's average 30 year fixed rate mortgage of loans were
3.05%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.1%.
Relative Fees
Redwood Residential Acquisition Corporation's average total fees for a 30 year fixed rate
mortgage are $9,947.
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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 73 | $85,175,000 | $1,166,781 | $11,686 | 3.07% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 63 | $72,385,000 | $1,148,968 | $10,416 | 3.05% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 65 | $68,455,000 | $1,053,154 | $10,543 | 3.03% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 56 | $53,880,000 | $962,143 | $13,024 | 3.05% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 46 | $41,560,000 | $903,478 | $12,975 | 2.97% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 44 | $37,410,000 | $850,227 | $6,367 | 3.02% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 33 | $29,945,000 | $907,424 | $11,173 | 3.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 26 | $29,360,000 | $1,129,231 | $8,305 | 3.02% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 23 | $25,525,000 | $1,109,783 | $11,504 | 3.11% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 26 | $21,540,000 | $828,462 | $7,385 | 3.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 25 | $20,015,000 | $800,600 | $9,193 | 3.24% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $17,115,000 | $1,006,765 | $7,789 | 2.88% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 19 | $15,945,000 | $839,211 | $7,778 | 3.11% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 18 | $15,360,000 | $853,333 | $11,455 | 2.94% |
| Outside of Metro Areas | 18 | $14,790,000 | $821,667 | $7,725 | 3.07% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 13 | $13,095,000 | $1,007,308 | $9,947 | 3.03% |
| BEND, OR (FHA|USDA|VA) | 12 | $12,090,000 | $1,007,500 | $9,403 | 3.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $11,920,000 | $993,333 | $18,262 | 2.89% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 12 | $11,380,000 | $948,333 | $6,507 | 3.19% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 7 | $8,175,000 | $1,167,857 | $9,383 | 3.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 11 | $7,885,000 | $716,818 | $9,549 | 3.19% |
| BELLINGHAM, WA (FHA|USDA|VA) | 8 | $7,600,000 | $950,000 | $9,596 | 2.98% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $7,095,000 | $788,333 | $8,280 | 3.00% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 7 | $6,805,000 | $972,143 | $12,890 | 3.02% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 7 | $6,795,000 | $970,714 | $7,658 | 3.11% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 8 | $6,740,000 | $842,500 | $8,428 | 3.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $6,465,000 | $923,571 | $7,922 | 2.82% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 6 | $5,670,000 | $945,000 | $5,301 | 3.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 7 | $5,535,000 | $790,714 | $13,004 | 3.11% |
| Bozeman, MT (FHA|USDA|VA) | 7 | $5,445,000 | $777,857 | $9,550 | 3.11% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $5,070,000 | $2,535,000 | $12,138 | 2.94% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $5,005,000 | $1,001,000 | $6,869 | 3.30% |
| Breckenridge, CO (FHA|USDA|VA) | 3 | $4,835,000 | $1,611,667 | $5,774 | 3.50% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $4,470,000 | $1,117,500 | $13,589 | 3.34% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 6 | $4,140,000 | $690,000 | $5,633 | 3.06% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 5 | $4,115,000 | $823,000 | $5,195 | 3.10% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 4 | $3,950,000 | $987,500 | $11,938 | 3.09% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $3,845,000 | $769,000 | $8,067 | 2.85% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $3,760,000 | $940,000 | $10,631 | 2.78% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $3,655,000 | $731,000 | $11,255 | 2.93% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 5 | $3,535,000 | $707,000 | $5,820 | 2.95% |
| BOISE CITY, ID (FHA|USDA|VA) | 4 | $3,240,000 | $810,000 | $12,499 | 3.13% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $3,235,000 | $1,078,333 | $10,433 | 2.63% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $3,095,000 | $1,031,667 | $13,976 | 3.08% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $3,060,000 | $765,000 | $9,325 | 3.22% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 3 | $3,055,000 | $1,018,333 | $14,947 | 2.96% |
| Heber, UT (FHA|USDA|VA) | 2 | $2,980,000 | $1,490,000 | $4,827 | 2.63% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $2,800,000 | $1,400,000 | $8,777 | 3.19% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $2,675,000 | $891,667 | $8,143 | 3.13% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $2,675,000 | $891,667 | $8,287 | 3.42% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $2,665,000 | $888,333 | $5,142 | 3.17% |
| BOULDER, CO (FHA|USDA|VA) | 3 | $2,625,000 | $875,000 | $5,698 | 3.13% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $2,445,000 | $815,000 | $9,763 | 3.21% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $2,405,000 | $801,667 | $8,067 | 3.04% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $17,958 | 2.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $2,365,000 | $788,333 | $7,007 | 3.25% |
| TULSA, OK (FHA|USDA|VA) | 3 | $2,255,000 | $751,667 | $8,476 | 3.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $2,245,000 | $748,333 | $10,296 | 2.83% |
| Durango, CO (FHA|USDA|VA) | 3 | $2,245,000 | $748,333 | $4,816 | 3.17% |
| GREELEY, CO (FHA|USDA|VA) | 3 | $2,155,000 | $718,333 | $5,405 | 3.04% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $2,145,000 | $715,000 | $7,322 | 2.88% |
| MEDFORD, OR (FHA|USDA|VA) | 2 | $2,040,000 | $1,020,000 | $6,910 | 3.19% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $2,025,000 | $675,000 | $11,408 | 2.79% |
| SALEM, OR (FHA|USDA|VA) | 2 | $2,000,000 | $1,000,000 | $23,191 | 3.00% |
| Key West, FL (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $13,055 | 3.06% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $1,840,000 | $920,000 | $6,142 | 2.69% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $1,810,000 | $905,000 | $5,239 | 3.06% |
| ST. GEORGE, UT (FHA|USDA|VA) | 2 | $1,740,000 | $870,000 | $21,675 | 3.06% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,680,000 | $840,000 | $2,682 | 3.25% |
| Kalispell, MT (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $16,217 | 3.06% |
| Outside of Metro Areas | 2 | $1,570,000 | $785,000 | $10,713 | 3.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $1,530,000 | $765,000 | $4,612 | 3.25% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $9,198 | 3.19% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $21,169 | 3.25% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,490,000 | $745,000 | $6,095 | 2.88% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $1,470,000 | $735,000 | $9,927 | 2.81% |
| Torrington, CT (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $9,138 | 2.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $5,500 | 2.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,390,000 | $695,000 | $9,630 | 3.13% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $1,355,000 | $1,355,000 | $4,287 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $1,340,000 | $670,000 | $6,213 | 3.25% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $1,340,000 | $670,000 | $5,833 | 3.56% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $1,330,000 | $665,000 | $6,221 | 3.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,330,000 | $665,000 | $5,764 | 3.31% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $1,315,000 | $1,315,000 | $3,076 | 3.25% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $1,285,000 | $1,285,000 | $4,184 | 3.13% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $1,215,000 | $1,215,000 | $5,372 | 2.88% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $19,048 | 2.63% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $1,165,000 | $1,165,000 | $3,591 | 2.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $7,024 | 2.88% |
| NAPA, CA (FHA|USDA|VA) | 1 | $1,035,000 | $1,035,000 | $7,748 | 3.25% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $1,035,000 | $1,035,000 | $22,817 | 3.00% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $1,025,000 | $1,025,000 | $6,424 | 3.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $11,427 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $3,955 | 3.38% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $9,185 | 3.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $7,495 | 3.00% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $11,663 | 2.38% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $8,609 | 3.25% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $19,900 | 2.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $17,140 | 2.75% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $6,024 | 3.13% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $5,760 | 3.00% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $15,880 | 3.25% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $5,239 | 2.75% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $3,495 | 2.50% |
| Sonora, CA (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $10,586 | 3.00% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $6,485 | 3.13% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $15,361 | 2.88% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $6,710 | 3.50% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $4,769 | 2.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $6,663 | 3.25% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $6,142 | 3.13% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $8,872 | 3.50% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $18,084 | 3.13% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $9,567 | 3.25% |
| Hudson, NY (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $8,284 | 2.63% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $3,637 | 3.00% |
| RENO, NV (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $10,239 | 3.50% |
| WACO, TX (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $6,871 | 3.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $10,952 | 3.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $3,459 | 3.00% |
| Helena, MT (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $14,281 | 3.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $10,230 | 3.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 3.25% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $9,122 | 3.38% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $17,696 | 3.75% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $4,450 | 3.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $3,465 | 3.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,777 | 2.63% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $4,345 | 2.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $2,452 | 2.88% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $7,094 | 3.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $8,716 | 2.75% |
| CHICO, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,137 | 3.50% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,777 | 3.38% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $8,619 | 3.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,389 | 3.13% |
Redwood Residential Acquisition Corporation's top markets include Seattle, San Francisco, Los Angeles, Dallas, and Austin among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 888 | $852,300,000 | $959,797 | $9,931 | 3.05% |
For the 2021 period, Redwood Residential Acquisition Corporation's most frequently originated loan type of loans were Conventional, with 888 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 463 | $448,655,000 | $969,017 | $10,145 | 3.09% |
| Refi | 277 | $270,035,000 | $974,856 | $9,858 | 2.97% |
| Cash Out Refi | 148 | $133,610,000 | $902,770 | $9,402 | 3.10% |
For the 2021, Redwood Residential Acquisition Corporation's most frequently cited loan purpose of loans were Home Purchase, with 463 originations. The 2nd most popular reason of loans were Refi, with 277 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 875 | $838,635,000 | $958,440 | $9,947 | 3.05% |
| 20 Year | 12 | $11,880,000 | $990,000 | $8,912 | 2.95% |
| Other | 1 | $1,785,000 | $1,785,000 | $8,454 | 2.88% |
For the 2021, Redwood Residential Acquisition Corporation's most frequently cited loan length of loans were 30 Year, with 875 originations. The 2nd most popular length of loans were 20 Year, with 12 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 339 | $337,355,000 | $995,147 |
| $1k-2k | 294 | $286,020,000 | $972,857 |
| $3k-4k | 128 | $115,960,000 | $905,938 |
| $<1k | 64 | $58,510,000 | $914,219 |
| $2k-3k | 58 | $49,740,000 | $857,586 |
$9,947 of loans were Redwood Residential Acquisition Corporation's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 339 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 440 | $434,910,000 | $988,432 |
| 3-4% | 408 | $377,290,000 | $924,730 |
| <2.5% | 35 | $34,585,000 | $988,143 |
| 4-5% | 5 | $5,515,000 | $1,103,000 |
During 2021, Redwood Residential Acquisition Corporation's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 440 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $600k-1MM | 543 | $431,835,000 | $795,276 | $8,818 | 3.06% |
| $1MM+ | 305 | $397,625,000 | $1,303,689 | $12,238 | 3.03% |
| $400k-600k | 39 | $22,515,000 | $577,308 | $7,330 | 3.11% |
| $200k-400k | 1 | $325,000 | $325,000 | $10,054 | 3.38% |
2021 saw Redwood Residential Acquisition Corporation place emphasis on $600k-1MM loans with 543 originations, totaling $431,835,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 516 | $547,730,000 | $1,061,492 | $11,014 | 3.06% |
| $150k-250k | 315 | $265,765,000 | $843,698 | $8,410 | 3.05% |
| $100k-150k | 55 | $37,405,000 | $680,091 | $8,580 | 3.06% |
| $50k-75k | 1 | $705,000 | $705,000 | $13,895 | 3.25% |
| $75k-100k | 1 | $695,000 | $695,000 | $3,297 | 3.00% |
Redwood Residential Acquisition Corporation lent most frequently to those with incomes in the $250k+ range, with 516 originations. The second most popular income band? $150k-250k, with 315 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 257 | $241,825,000 | $940,953 | $10,252 | 3.04% |
| 30-36% | 210 | $199,930,000 | $952,048 | $10,154 | 3.06% |
| <20% | 64 | $66,560,000 | $1,040,000 | $9,766 | 3.00% |
| 42% | 53 | $49,475,000 | $933,491 | $10,638 | 3.00% |
| 36% | 52 | $48,930,000 | $940,962 | $8,723 | 3.08% |
| 41% | 48 | $45,890,000 | $956,042 | $9,155 | 3.06% |
| 37% | 46 | $45,670,000 | $992,826 | $8,808 | 3.04% |
| 38% | 45 | $44,625,000 | $991,667 | $8,255 | 3.00% |
| 39% | 42 | $39,200,000 | $933,333 | $9,043 | 3.12% |
| 40% | 39 | $39,085,000 | $1,002,179 | $10,266 | 3.04% |
| 44% | 12 | $11,300,000 | $941,667 | $17,074 | 3.02% |
| 46% | 6 | $4,220,000 | $703,333 | $13,463 | 3.23% |
| 49% | 4 | $3,880,000 | $970,000 | $7,623 | 3.63% |
| 43% | 3 | $4,695,000 | $1,565,000 | $16,971 | 2.92% |
| 45% | 3 | $2,685,000 | $895,000 | $7,102 | 3.33% |
| 47% | 2 | $1,830,000 | $915,000 | $8,712 | 3.88% |
| 48% | 2 | $2,500,000 | $1,250,000 | $3,800 | 3.31% |
Redwood Residential Acquisition Corporation lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 210 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 644 | $611,140,000 | $948,975 | $9,882 | 3.06% |
| Not provided | 157 | $156,075,000 | $994,108 | $10,802 | 3.04% |
| Asian | 60 | $62,070,000 | $1,034,500 | $8,987 | 3.04% |
| Black | 11 | $9,085,000 | $825,909 | $7,822 | 3.02% |
| Asian Indian | 10 | $8,570,000 | $857,000 | $7,683 | 3.05% |
| American Indian | 5 | $4,515,000 | $903,000 | $10,687 | 2.90% |
| Samoan | 1 | $845,000 | $845,000 | $4,377 | 2.88% |
Approval Rates
Total approvals of all applications98.34%
Redwood Residential Acquisition Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination58.58%
Redwood Residential Acquisition Corporation 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 | 888 | $852,300,000 | $959,797 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 888 | $852,300,000 | $959,797 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 30 | $27,910,000 | $930,333 | $8,444 | 2.98% |
| 40-60% | 166 | $168,150,000 | $1,012,952 | $10,125 | 3.02% |
| 60-80% | 486 | $463,130,000 | $952,942 | $9,682 | 3.04% |
| 80-100% | 205 | $192,155,000 | $937,341 | $10,603 | 3.11% |
| Under 20% | 1 | $955,000 | $955,000 | $5,562 | 3.13% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Red Tree Mortgage LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
