Quicken Loans

Detroit, MI 48226

LEI: 549300FGXN1K3HLB1R50

Tax ID: 38-2603955

2019 Data *Active* | 2018 Data


Overview

Quicken Loans is a large mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Quicken Loans has a high proportion of conventional loans. They have a low ratio of USDA loans. They have an average proportion of FHA loans. Their top markets include Los Angeles, Oakland, San Diego, Phoenix, and Atlanta among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Quicken Loans is typically a normal high/ exceptionally high/ fee lendor.


Originations

549,988

Origination Dollar Volume (All Markets)

$141,638,600,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 397,003 $107,651,565,000 $271,161
VA 57,171 $15,544,215,000 $271,890
USDA 2,289 $304,025,000 $132,820
FHA 93,525 $18,138,795,000 $193,946

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 144,852 $38,420,640,000 $265,241
Refi 180,362 $52,253,540,000 $289,715
Home Improvement 2,848 $416,180,000 $146,131
Other 7,926 $1,298,640,000 $163,846
Cash Out Refi 214,000 $49,249,600,000 $230,138

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
Outside of Metro Areas 60,226 $10,611,970,000 $176,202
LOS ANGELES-LONG BEACH-GLENDALE, CA 16,588 $7,412,160,000 $446,839
OAKLAND-BERKELEY-LIVERMORE, CA 8,880 $4,268,250,000 $480,659
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 9,384 $4,268,130,000 $454,831
PHOENIX-MESA-CHANDLER, AZ 16,229 $4,125,535,000 $254,208
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 16,283 $3,704,825,000 $227,527
ANAHEIM-SANTA ANA-IRVINE, CA 7,309 $3,599,645,000 $492,495
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 9,938 $3,521,840,000 $354,381
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 11,307 $3,519,795,000 $311,293
SACRAMENTO-ROSEVILLE-FOLSOM, CA 8,676 $2,972,940,000 $342,663
DENVER-AURORA-LAKEWOOD, CO 8,580 $2,869,190,000 $334,404
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 7,782 $2,772,930,000 $356,326
WARREN-TROY-FARMINGTON HILLS, MI 12,773 $2,693,525,000 $210,876
SEATTLE-BELLEVUE-KENT, WA 6,393 $2,574,315,000 $402,677
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 4,418 $2,329,170,000 $527,200
CHICAGO-NAPERVILLE-EVANSTON, IL 7,276 $1,710,540,000 $235,093
CHARLOTTE-CONCORD-GASTONIA, NC-SC 7,456 $1,701,040,000 $228,144
LAS VEGAS-HENDERSON-PARADISE, NV 6,692 $1,688,100,000 $252,256
NEW BRUNSWICK-LAKEWOOD, NJ 5,526 $1,670,760,000 $302,345
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 7,273 $1,634,645,000 $224,755
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 6,165 $1,486,995,000 $241,200
NASSAU COUNTY-SUFFOLK COUNTY, NY 4,227 $1,475,685,000 $349,109
DALLAS-PLANO-IRVING, TX 5,998 $1,465,810,000 $244,383
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 4,763 $1,422,415,000 $298,638
TAMPA-ST. PETERSBURG-CLEARWATER, FL 6,586 $1,403,230,000 $213,063
BALTIMORE-COLUMBIA-TOWSON, MD 4,512 $1,262,980,000 $279,916
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 3,519 $1,244,695,000 $353,707
ORLANDO-KISSIMMEE-SANFORD, FL 5,349 $1,244,515,000 $232,663
OXNARD-THOUSAND OAKS-VENTURA, CA 2,622 $1,217,880,000 $464,485
SALT LAKE CITY, UT 3,826 $1,145,240,000 $299,331
NEWARK, NJ-PA 3,515 $1,112,225,000 $316,422
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1,872 $1,028,810,000 $549,578
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4,309 $1,027,325,000 $238,414
DETROIT-DEARBORN-LIVONIA, MI 5,844 $1,021,140,000 $174,733
BOSTON, MA 2,798 $936,140,000 $334,575
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 3,335 $849,925,000 $254,850
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 2,329 $831,365,000 $356,962
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 2,920 $796,420,000 $272,747
RALEIGH-CARY, NC 3,179 $764,325,000 $240,429
MIAMI-MIAMI BEACH-KENDALL, FL 2,858 $752,040,000 $263,135
STOCKTON, CA 2,201 $707,605,000 $321,493
JACKSONVILLE, FL 3,080 $701,480,000 $227,753
TACOMA-LAKEWOOD, WA 2,350 $687,520,000 $292,562
AUSTIN-ROUND ROCK-GEORGETOWN, TX 2,664 $686,540,000 $257,710
FORT WORTH-ARLINGTON-GRAPEVINE, TX 3,129 $672,365,000 $214,882
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2,578 $649,230,000 $251,835
RICHMOND, VA 2,782 $643,210,000 $231,204
CLEVELAND-ELYRIA, OH 3,643 $617,695,000 $169,557
KANSAS CITY, MO-KS 3,167 $614,745,000 $194,110
INDIANAPOLIS-CARMEL-ANDERSON, IN 3,410 $607,060,000 $178,023
SAN ANTONIO-NEW BRAUNFELS, TX 2,725 $606,155,000 $222,442
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 2,514 $595,140,000 $236,730
COLORADO SPRINGS, CO 2,128 $590,200,000 $277,350
COLUMBUS, OH 3,120 $587,940,000 $188,442
SANTA ROSA-PETALUMA, CA 1,329 $580,045,000 $436,452
PROVIDENCE-WARWICK, RI-MA 2,326 $576,250,000 $247,743
ST. LOUIS, MO-IL 3,011 $570,145,000 $189,354
PROVO-OREM, UT 1,817 $539,535,000 $296,937
VALLEJO, CA 1,540 $538,540,000 $349,701
OGDEN-CLEARFIELD, UT 1,940 $517,380,000 $266,691
BOISE CITY, ID 2,200 $506,790,000 $230,359
RENO, NV 1,652 $475,250,000 $287,682
CINCINNATI, OH-KY-IN 2,639 $472,365,000 $178,994
PITTSBURGH, PA 2,704 $471,040,000 $174,201
NORTH PORT-SARASOTA-BRADENTON, FL 2,066 $468,560,000 $226,796
CAPE CORAL-FORT MYERS, FL 2,116 $463,830,000 $219,201
SALINAS, CA 1,079 $445,495,000 $412,878
PHILADELPHIA, PA 2,060 $425,960,000 $206,777
FRESNO, CA 1,656 $416,960,000 $251,787
CAMDEN, NJ 1,959 $413,105,000 $210,875
BRIDGEPORT-STAMFORD-NORWALK, CT 1,224 $410,650,000 $335,498
TUCSON, AZ 1,939 $402,745,000 $207,708
LOUISVILLE/JEFFERSON COUNTY, KY-IN 2,090 $393,530,000 $188,292
URBAN HONOLULU, HI 824 $390,880,000 $474,369
WORCESTER, MA-CT 1,594 $376,990,000 $236,506
MODESTO, CA 1,390 $363,600,000 $261,583
CHARLESTON-NORTH CHARLESTON, SC 1,538 $359,940,000 $234,031
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1,913 $358,695,000 $187,504
MEMPHIS, TN-MS-AR 1,862 $355,050,000 $190,682
GREENVILLE-ANDERSON, SC 1,864 $347,890,000 $186,636
PALM BAY-MELBOURNE-TITUSVILLE, FL 1,612 $332,710,000 $206,396
ALBUQUERQUE, NM 1,587 $329,465,000 $207,602
SPOKANE-SPOKANE VALLEY, WA 1,385 $317,385,000 $229,159
GRAND RAPIDS-KENTWOOD, MI 1,731 $314,455,000 $181,661
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1,426 $311,360,000 $218,345
NEW ORLEANS-METAIRIE, LA 1,562 $308,890,000 $197,753
BIRMINGHAM-HOOVER, AL 1,533 $300,455,000 $195,992
SAN RAFAEL, CA 556 $300,150,000 $539,838
GREELEY, CO 1,037 $299,735,000 $289,041
SANTA CRUZ-WATSONVILLE, CA 603 $296,015,000 $490,904
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 1,098 $293,460,000 $267,268
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 1,202 $291,490,000 $242,504
BAKERSFIELD, CA 1,290 $290,020,000 $224,822
MILWAUKEE-WAUKESHA, WI 1,310 $288,230,000 $220,023
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1,504 $285,520,000 $189,840
LAKE COUNTY-KENOSHA COUNTY, IL-WI 1,137 $274,095,000 $241,069
BUFFALO-CHEEKTOWAGA, NY 1,688 $264,770,000 $156,854
WILMINGTON, DE-MD-NJ 1,166 $263,950,000 $226,372
OMAHA-COUNCIL BLUFFS, NE-IA 1,417 $258,515,000 $182,438
SANTA MARIA-SANTA BARBARA, CA 686 $255,380,000 $372,274
PORT ST. LUCIE, FL 1,241 $254,475,000 $205,056
FORT COLLINS, CO 862 $254,260,000 $294,965
OKLAHOMA CITY, OK 1,459 $252,895,000 $173,334
DURHAM-CHAPEL HILL, NC 1,125 $252,705,000 $224,627
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 1,246 $252,290,000 $202,480
LAKELAND-WINTER HAVEN, FL 1,428 $251,850,000 $176,366
KNOXVILLE, TN 1,287 $248,295,000 $192,925
SAN LUIS OBISPO-PASO ROBLES, CA 604 $246,130,000 $407,500
SALEM, OR 1,009 $243,845,000 $241,670
GREENSBORO-HIGH POINT, NC 1,292 $242,500,000 $187,693
BOULDER, CO 614 $231,270,000 $376,661
BREMERTON-SILVERDALE-PORT ORCHARD, WA 751 $229,025,000 $304,960
ASHEVILLE, NC 1,020 $226,500,000 $222,059
ANN ARBOR, MI 990 $225,360,000 $227,636
GARY, IN 1,218 $224,970,000 $184,704
MANCHESTER-NASHUA, NH 922 $222,850,000 $241,703
PORTLAND-SOUTH PORTLAND, ME 943 $220,455,000 $233,780
WINSTON-SALEM, NC 1,223 $218,935,000 $179,015
OLYMPIA-LACEY-TUMWATER, WA 796 $217,060,000 $272,688
ELGIN, IL 1,011 $215,185,000 $212,844
SALISBURY, MD-DE 913 $211,595,000 $231,758
NEW HAVEN-MILFORD, CT 970 $208,650,000 $215,103
NAPLES-MARCO ISLAND, FL 771 $206,375,000 $267,672
EUGENE-SPRINGFIELD, OR 831 $201,335,000 $242,280
PENSACOLA-FERRY PASS-BRENT, FL 1,022 $201,230,000 $196,898
PRESCOTT VALLEY-PRESCOTT, AZ 782 $193,410,000 $247,327
BATON ROUGE, LA 963 $193,305,000 $200,732
BARNSTABLE TOWN, MA 662 $193,120,000 $291,722
COLUMBIA, SC 1,083 $192,155,000 $177,428
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 987 $189,155,000 $191,646
AKRON, OH 1,128 $185,110,000 $164,105
LANSING-EAST LANSING, MI 1,146 $184,520,000 $161,012
ANCHORAGE, AK 684 $181,490,000 $265,336
TULSA, OK 1,052 $179,760,000 $170,875
HUNTSVILLE, AL 883 $175,205,000 $198,420
CHATTANOOGA, TN-GA 965 $174,835,000 $181,176
ALBANY-SCHENECTADY-TROY, NY 882 $172,430,000 $195,499
LAKE HAVASU CITY-KINGMAN, AZ 836 $169,610,000 $202,883
SAVANNAH, GA 811 $166,915,000 $205,814
DES MOINES-WEST DES MOINES, IA 918 $166,710,000 $181,601
HILTON HEAD ISLAND-BLUFFTON, SC 681 $166,495,000 $244,486
VISALIA, CA 706 $160,170,000 $226,870
PUNTA GORDA, FL 822 $157,120,000 $191,144
SPRINGFIELD, MA 812 $155,850,000 $191,933
ROCHESTER, NY 1,036 $152,930,000 $147,616
FLINT, MI 1,002 $152,860,000 $152,555
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 901 $152,315,000 $169,051
HARRISBURG-CARLISLE, PA 792 $151,840,000 $191,717
LEXINGTON-FAYETTE, KY 797 $151,595,000 $190,207
BEND, OR 525 $150,655,000 $286,962
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 619 $149,885,000 $242,141
KENNEWICK-RICHLAND, WA 651 $146,805,000 $225,507
TRENTON-PRINCETON, NJ 570 $145,500,000 $255,263
KAHULUI-WAILUKU-LAHAINA, HI 312 $142,320,000 $456,154
NAPA, CA 316 $141,870,000 $448,956
HAGERSTOWN-MARTINSBURG, MD-WV 694 $138,150,000 $199,063
AUGUSTA-RICHMOND COUNTY, GA-SC 796 $137,310,000 $172,500
OCALA, FL 848 $135,830,000 $160,177
TOLEDO, OH 815 $130,745,000 $160,423
CHICO, CA 464 $126,700,000 $273,060
DAYTON-KETTERING, OH 846 $125,860,000 $148,771
WILMINGTON, NC 542 $121,490,000 $224,151
TALLAHASSEE, FL 604 $120,160,000 $198,940
LANCASTER, PA 617 $118,965,000 $192,812
ST. GEORGE, UT 454 $118,380,000 $260,749
GAINESVILLE, GA 535 $118,275,000 $221,075
MEDFORD, OR 451 $117,625,000 $260,809
MERCED, CA 466 $116,300,000 $249,571
DAPHNE-FAIRHOPE-FOLEY, AL 555 $114,125,000 $205,631
BELLINGHAM, WA 391 $113,115,000 $289,297
COEUR D'ALENE, ID 443 $112,315,000 $253,533
WICHITA, KS 709 $112,085,000 $158,089
BRUNSWICK, GA 481 $111,955,000 $232,755
JACKSON, MS 633 $110,805,000 $175,047
HICKORY-LENOIR-MORGANTON, NC 618 $107,790,000 $174,417
LYNCHBURG, VA 548 $107,300,000 $195,803
YORK-HANOVER, PA 588 $106,560,000 $181,224
SPRINGFIELD, MO 667 $104,615,000 $156,844
ROANOKE, VA 550 $102,410,000 $186,200
SPARTANBURG, SC 592 $102,270,000 $172,753
MADISON, WI 471 $101,565,000 $215,637
CANTON-MASSILLON, OH 663 $100,075,000 $150,943
LONGVIEW, WA 441 $99,825,000 $226,361
YUBA CITY, CA 383 $98,975,000 $258,420
CHARLOTTESVILLE, VA 383 $97,335,000 $254,138
MONROE, MI 552 $94,010,000 $170,308
FAYETTEVILLE, NC 578 $93,710,000 $162,128
FORT WAYNE, IN 585 $90,775,000 $155,171
SCRANTON--WILKES-BARRE, PA 618 $90,370,000 $146,230
SANTA FE, NM 317 $89,545,000 $282,476
BURLINGTON-SOUTH BURLINGTON, VT 377 $88,575,000 $234,947
REDDING, CA 354 $87,590,000 $247,429
MOBILE, AL 547 $87,245,000 $159,497
FLAGSTAFF, AZ 291 $84,565,000 $290,601
READING, PA 446 $81,640,000 $183,049
SEBASTIAN-VERO BEACH, FL 420 $81,360,000 $193,714
EL PASO, TX 478 $81,120,000 $169,707
GULFPORT-BILOXI, MS 510 $81,010,000 $158,843
SYRACUSE, NY 559 $80,515,000 $144,034
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 627 $80,215,000 $127,935
HOMOSASSA SPRINGS, FL 497 $78,785,000 $158,521
PUEBLO, CO 418 $77,960,000 $186,507
MOUNT VERNON-ANACORTES, WA 272 $77,660,000 $285,515
MONTGOMERY, AL 440 $77,520,000 $176,182
KALAMAZOO-PORTAGE, MI 440 $75,770,000 $172,205
ALBANY-LEBANON, OR 338 $75,030,000 $221,982
MADERA, CA 313 $74,895,000 $239,281
NORWICH-NEW LONDON, CT 341 $74,195,000 $217,581
GAINESVILLE, FL 407 $73,165,000 $179,767
GRAND JUNCTION, CO 328 $72,650,000 $221,494
THE VILLAGES, FL 328 $72,540,000 $221,159
MIDLAND, TX 281 $72,085,000 $256,530
SOUTH BEND-MISHAWAKA, IN-MI 482 $71,610,000 $148,568
WINCHESTER, VA-WV 307 $71,555,000 $233,078
CLARKSVILLE, TN-KY 395 $71,355,000 $180,646
LINCOLN, NE 405 $71,185,000 $175,765
WENATCHEE, WA 262 $70,730,000 $269,962
CORPUS CHRISTI, TX 376 $69,410,000 $184,601
OCEAN CITY, NJ 279 $68,175,000 $244,355
LAFAYETTE, LA 374 $68,040,000 $181,925
MCALLEN-EDINBURG-MISSION, TX 367 $67,925,000 $185,082
KILLEEN-TEMPLE, TX 364 $67,780,000 $186,209
PANAMA CITY, FL 311 $67,345,000 $216,543
CHEYENNE, WY 289 $67,315,000 $232,924
YAKIMA, WA 337 $67,195,000 $199,392
DOVER, DE 313 $66,845,000 $213,562
KINGSPORT-BRISTOL, TN-VA 404 $65,330,000 $161,708
DULUTH, MN-WI 396 $64,790,000 $163,611
ATHENS-CLARKE COUNTY, GA 337 $64,605,000 $191,706
GREEN BAY, WI 324 $63,650,000 $196,451
COLUMBUS, GA-AL 374 $63,470,000 $169,706
EAST STROUDSBURG, PA 380 $63,460,000 $167,000
SHREVEPORT-BOSSIER CITY, LA 365 $63,075,000 $172,808
JACKSON, MI 390 $62,750,000 $160,897
ATLANTIC CITY-HAMMONTON, NJ 321 $62,355,000 $194,252
LAS CRUCES, NM 310 $60,610,000 $195,516
IDAHO FALLS, ID 300 $59,610,000 $198,700
CARSON CITY, NV 236 $59,040,000 $250,169
WARNER ROBINS, GA 353 $58,975,000 $167,068
BILLINGS, MT 263 $57,655,000 $219,221
HUNTINGTON-ASHLAND, WV-KY-OH 398 $57,590,000 $144,698
EVANSVILLE, IN-KY 362 $55,050,000 $152,072
BEAUMONT-PORT ARTHUR, TX 320 $54,710,000 $170,969
TYLER, TX 253 $51,965,000 $205,395
LAKE CHARLES, LA 272 $51,310,000 $188,640
NILES, MI 284 $51,060,000 $179,789
AMARILLO, TX 275 $50,265,000 $182,782
CALIFORNIA-LEXINGTON PARK, MD 189 $50,215,000 $265,688
JOHNSON CITY, TN 296 $50,160,000 $169,459
LONGVIEW, TX 276 $48,630,000 $176,196
SIOUX FALLS, SD 256 $47,830,000 $186,836
MISSOULA, MT 182 $47,830,000 $262,802
LOGAN, UT-ID 197 $47,445,000 $240,838
APPLETON, WI 263 $47,405,000 $180,247
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 322 $47,400,000 $147,205
ROCKFORD, IL 335 $47,235,000 $141,000
KINGSTON, NY 236 $46,400,000 $196,610
AUBURN-OPELIKA, AL 239 $46,275,000 $193,619
HOUMA-THIBODAUX, LA 257 $46,025,000 $179,086
GRANTS PASS, OR 190 $45,800,000 $241,053
WACO, TX 242 $45,400,000 $187,603
ROCHESTER, MN 252 $45,370,000 $180,040
BURLINGTON, NC 257 $44,795,000 $174,300
HANFORD-CORCORAN, CA 187 $44,275,000 $236,765
MACON-BIBB COUNTY, GA 270 $43,790,000 $162,185
EL CENTRO, CA 201 $43,725,000 $217,537
ELKHART-GOSHEN, IN 276 $42,820,000 $155,145
BLOOMINGTON, IN 235 $41,835,000 $178,021
STAUNTON, VA 205 $41,645,000 $203,146
JACKSONVILLE, NC 241 $41,635,000 $172,759
LUBBOCK, TX 236 $41,350,000 $175,212
BOWLING GREEN, KY 228 $40,610,000 $178,114
TUSCALOOSA, AL 235 $40,525,000 $172,447
FLORENCE, SC 247 $39,855,000 $161,356
TOPEKA, KS 252 $39,470,000 $156,627
MUSKEGON, MI 291 $39,405,000 $135,412
CHARLESTON, WV 287 $39,165,000 $136,463
SEBRING-AVON PARK, FL 266 $38,910,000 $146,278
COLLEGE STATION-BRYAN, TX 188 $38,840,000 $206,596
PEORIA, IL 294 $38,690,000 $131,599
UTICA-ROME, NY 294 $38,650,000 $131,463
RACINE, WI 217 $38,555,000 $177,673
TWIN FALLS, ID 207 $38,455,000 $185,773
BLACKSBURG-CHRISTIANSBURG, VA 203 $38,425,000 $189,286
CHAMBERSBURG-WAYNESBORO, PA 214 $37,390,000 $174,720
ST. CLOUD, MN 210 $35,970,000 $171,286
MONROE, LA 218 $35,260,000 $161,743
FORT SMITH, AR-OK 249 $35,045,000 $140,743
CORVALLIS, OR 120 $34,810,000 $290,083
FARGO, ND-MN 181 $34,315,000 $189,586
NEW BERN, NC 192 $34,240,000 $178,333
HATTIESBURG, MS 195 $34,175,000 $175,256
ODESSA, TX 166 $34,040,000 $205,060
SUMTER, SC 218 $34,040,000 $156,147
STATE COLLEGE, PA 163 $33,855,000 $207,699
BANGOR, ME 215 $33,785,000 $157,140
LAFAYETTE-WEST LAFAYETTE, IN 228 $33,520,000 $147,018
ERIE, PA 256 $33,510,000 $130,898
BROWNSVILLE-HARLINGEN, TX 209 $33,395,000 $159,785
LEBANON, PA 191 $32,825,000 $171,859
DECATUR, AL 210 $32,640,000 $155,429
ELIZABETHTOWN-FORT KNOX, KY 187 $32,595,000 $174,305
CASPER, WY 153 $32,555,000 $212,778
SAGINAW, MI 243 $32,265,000 $132,778
LEWISTON-AUBURN, ME 186 $31,910,000 $171,559
YUMA, AZ 177 $31,815,000 $179,746
JANESVILLE-BELOIT, WI 215 $31,715,000 $147,512
SHERMAN-DENISON, TX 154 $31,600,000 $205,195
CLEVELAND, TN 181 $31,435,000 $173,674
FLORENCE-MUSCLE SHOALS, AL 202 $31,380,000 $155,347
CEDAR RAPIDS, IA 193 $31,215,000 $161,736
GREENVILLE, NC 184 $31,190,000 $169,511
RAPID CITY, SD 159 $30,685,000 $192,987
FAIRBANKS, AK 142 $30,600,000 $215,493
GETTYSBURG, PA 149 $30,445,000 $204,329
OSHKOSH-NEENAH, WI 172 $30,020,000 $174,535
BATTLE CREEK, MI 215 $29,865,000 $138,907
SIERRA VISTA-DOUGLAS, AZ 178 $29,330,000 $164,775
BINGHAMTON, NY 234 $29,230,000 $124,915
EAU CLAIRE, WI 175 $28,995,000 $165,686
JOPLIN, MO 210 $28,970,000 $137,952
MICHIGAN CITY-LA PORTE, IN 196 $28,900,000 $147,449
MIDLAND, MI 173 $28,875,000 $166,908
HAMMOND, LA 158 $28,680,000 $181,519
VALDOSTA, GA 173 $28,255,000 $163,324
JONESBORO, AR 175 $27,975,000 $159,857
SIOUX CITY, IA-NE-SD 188 $27,940,000 $148,617
GLENS FALLS, NY 173 $27,805,000 $160,723
MORRISTOWN, TN 176 $27,730,000 $157,557
ALBANY, GA 185 $27,595,000 $149,162
DOTHAN, AL 178 $27,430,000 $154,101
WALLA WALLA, WA 122 $26,900,000 $220,492
HOT SPRINGS, AR 160 $26,670,000 $166,688
HARRISONBURG, VA 129 $26,495,000 $205,388
LAWRENCE, KS 134 $26,490,000 $197,687
CHAMPAIGN-URBANA, IL 168 $25,620,000 $152,500
PITTSFIELD, MA 139 $25,565,000 $183,921
WILLIAMSPORT, PA 166 $25,310,000 $152,470
ROME, GA 141 $25,195,000 $178,688
COLUMBIA, MO 145 $24,975,000 $172,241
JACKSON, TN 165 $23,995,000 $145,424
KANKAKEE, IL 150 $23,750,000 $158,333
DALTON, GA 159 $23,625,000 $148,585
SPRINGFIELD, OH 185 $23,535,000 $127,216
ST. JOSEPH, MO-KS 168 $23,450,000 $139,583
WHEELING, WV-OH 163 $23,075,000 $141,564
GREAT FALLS, MT 116 $23,060,000 $198,793
BLOOMSBURG-BERWICK, PA 145 $22,555,000 $155,552
TERRE HAUTE, IN 166 $22,470,000 $135,361
MORGANTOWN, WV 126 $22,350,000 $177,381
POCATELLO, ID 122 $22,280,000 $182,623
WAUSAU-WESTON, WI 139 $22,025,000 $158,453
SHEBOYGAN, WI 125 $21,935,000 $175,480
FARMINGTON, NM 112 $21,470,000 $191,696
SPRINGFIELD, IL 136 $21,340,000 $156,912
ROCKY MOUNT, NC 140 $21,080,000 $150,571
ANNISTON-OXFORD, AL 156 $20,920,000 $134,103
AMES, IA 131 $20,685,000 $157,901
GRAND FORKS, ND-MN 101 $20,375,000 $201,733
MANSFIELD, OH 154 $20,360,000 $132,208
OWENSBORO, KY 139 $20,325,000 $146,223
TEXARKANA, TX-AR 125 $19,855,000 $158,840
BISMARCK, ND 92 $19,410,000 $210,978
COLUMBUS, IN 118 $19,320,000 $163,729
ALEXANDRIA, LA 117 $18,865,000 $161,239
JEFFERSON CITY, MO 120 $18,310,000 $152,583
LEWISTON, ID-WA 98 $18,290,000 $186,633
GOLDSBORO, NC 114 $18,220,000 $159,825
BLOOMINGTON, IL 108 $17,960,000 $166,296
SAN ANGELO, TX 105 $17,675,000 $168,333
CARBONDALE-MARION, IL 129 $17,435,000 $135,155
LAREDO, TX 99 $17,345,000 $175,202
LA CROSSE-ONALASKA, WI-MN 97 $17,125,000 $176,546
ALTOONA, PA 133 $16,985,000 $127,707
MANKATO, MN 94 $16,910,000 $179,894
BECKLEY, WV 128 $16,830,000 $131,484
BAY CITY, MI 137 $16,745,000 $122,226
CAPE GIRARDEAU, MO-IL 101 $16,455,000 $162,921
MANHATTAN, KS 94 $16,420,000 $174,681
VINELAND-BRIDGETON, NJ 107 $16,395,000 $153,224
ABILENE, TX 102 $16,280,000 $159,608
PARKERSBURG-VIENNA, WV 110 $16,100,000 $146,364
IOWA CITY, IA 82 $15,920,000 $194,146
HINESVILLE, GA 98 $15,460,000 $157,755
VICTORIA, TX 89 $15,305,000 $171,966
KOKOMO, IN 115 $15,175,000 $131,957
LAWTON, OK 96 $15,160,000 $157,917
MUNCIE, IN 128 $15,050,000 $117,578
GADSDEN, AL 108 $14,620,000 $135,370
GRAND ISLAND, NE 90 $14,360,000 $159,556
CUMBERLAND, MD-WV 101 $13,965,000 $138,267
DECATUR, IL 110 $13,020,000 $118,364
WEIRTON-STEUBENVILLE, WV-OH 124 $12,850,000 $103,629
LIMA, OH 87 $12,585,000 $144,655
WATERTOWN-FORT DRUM, NY 79 $12,575,000 $159,177
WATERLOO-CEDAR FALLS, IA 92 $12,350,000 $134,239
FOND DU LAC, WI 73 $10,605,000 $145,274
WICHITA FALLS, TX 77 $10,375,000 $134,740
DUBUQUE, IA 64 $10,150,000 $158,594
JOHNSTOWN, PA 69 $8,625,000 $125,000
PINE BLUFF, AR 64 $8,400,000 $131,250
ITHACA, NY 43 $7,605,000 $176,860
ENID, OK 53 $7,595,000 $143,302
ELMIRA, NY 68 $7,240,000 $106,471
DANVILLE, IL 52 $6,340,000 $121,923

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 76 $32,450,000 $426,974
2.5-3% 16,081 $4,973,405,000 $309,272
3-4% 282,294 $77,878,250,000 $275,876
4-5% 230,993 $54,800,465,000 $237,239
5-6% 19,805 $3,809,485,000 $192,350
6-7% 685 $131,335,000 $191,730
7-8% 53 $13,075,000 $246,698
Over 8% 1 $135,000 $135,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 44,002 $3,396,780,000 $77,196
$100k-200k 184,932 $27,619,620,000 $149,350
$200k-400k 236,025 $66,072,725,000 $279,940
$400k-600k 67,347 $31,889,165,000 $473,505
$600k-1000k 16,764 $11,524,010,000 $687,426
$Over $1MM 918 $1,136,300,000 $1,237,800

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
Under 20% 2,786 $459,970,000 $165,101
20-40% 19,805 $4,198,275,000 $211,981
40-60% 73,354 $18,154,510,000 $247,492
80-100% 237,441 $61,514,025,000 $259,071
Over 100% 3,618 $1,109,630,000 $306,697
60-80% 212,984 $56,202,190,000 $263,880

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 118,737 $36,579,535,000 $308,072
$150k-250k 68,138 $26,171,300,000 $384,093
$50k-75k 120,078 $23,067,720,000 $192,106
$50k-or less 87,198 $11,566,710,000 $132,649
$75k-100k 97,166 $23,884,440,000 $245,811
$Over $250k 19,331 $9,074,175,000 $469,411

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 294,238 $75,294,610,000 $255,897
Not provided 197,753 $48,583,025,000 $245,675
Asian 23,758 $9,474,250,000 $398,781
Black 26,942 $6,253,840,000 $232,122
American Indian 3,265 $738,015,000 $226,038
Asian Indian 994 $346,800,000 $348,893
Filipino 809 $262,855,000 $324,913
Native Hawaiian 820 $245,970,000 $299,963
Chinese 313 $107,025,000 $341,933
Other Asian 301 $90,565,000 $300,880
Vietnamese 175 $53,305,000 $304,600
Japanese 162 $49,980,000 $308,519
Other Pacific Islander 179 $47,145,000 $263,380
Korean 136 $41,220,000 $303,088
Native Hawiian 82 $31,080,000 $379,024
Guamanian 35 $10,035,000 $286,714
Samoan 26 $8,880,000 $341,538

Approval Rates

Total approvals of all applications
81.59%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
84.47%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 549,988 $141,638,600,000 $257,530

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 122,123 $38,941,235,000 $318,869
$1k-2k 81,848 $18,297,790,000 $223,558
$2k-3k 89,056 $16,815,660,000 $188,821
$3k-4k 145,377 $31,286,775,000 $215,211
$5k+ 110,434 $36,089,460,000 $326,797

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Site-Built 549,988 $141,638,600,000 $257,530