Newrez Llc

PLYMOUTH MEETING, PA 19462

LEI: 549300FNXYY540N23N64

Tax ID: 37-1542226

2019 Data *Active* | 2018 Data


Overview

Newrez Llc is a large mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Newrez Llc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include New York, Los Angeles, Nassau County, San Diego, and Washington 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. Newrez Llc is typically a low/ medium-low/ fee lendor.


Originations

34,967

Origination Dollar Volume (All Markets)

$10,165,535,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 22,210 $6,793,340,000 $305,869
FHA 8,098 $1,981,230,000 $244,657
VA 4,524 $1,365,720,000 $301,883
USDA 135 $25,245,000 $187,000

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 11,095 $3,612,785,000 $325,623
Other 85 $9,875,000 $116,176
Refi 13,426 $3,751,070,000 $279,388
Cash Out Refi 10,361 $2,791,805,000 $269,453

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
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 1,589 $730,535,000 $459,745
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,044 $562,230,000 $538,534
Outside of Metro Areas 2,106 $425,650,000 $202,113
NASSAU COUNTY-SUFFOLK COUNTY, NY 785 $318,465,000 $405,688
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 689 $312,465,000 $453,505
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 932 $306,840,000 $329,227
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,213 $290,015,000 $239,089
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 813 $271,225,000 $333,610
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 808 $240,620,000 $297,797
ANAHEIM-SANTA ANA-IRVINE, CA 430 $238,250,000 $554,070
PHOENIX-MESA-CHANDLER, AZ 784 $202,570,000 $258,380
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 493 $188,685,000 $382,728
BALTIMORE-COLUMBIA-TOWSON, MD 639 $182,055,000 $284,906
NEW BRUNSWICK-LAKEWOOD, NJ 531 $171,845,000 $323,625
CHICAGO-NAPERVILLE-EVANSTON, IL 635 $167,335,000 $263,520
OAKLAND-BERKELEY-LIVERMORE, CA 312 $163,920,000 $525,385
CHARLOTTE-CONCORD-GASTONIA, NC-SC 770 $162,500,000 $211,039
TAMPA-ST. PETERSBURG-CLEARWATER, FL 633 $150,315,000 $237,464
SACRAMENTO-ROSEVILLE-FOLSOM, CA 428 $144,000,000 $336,449
BOSTON, MA 366 $134,350,000 $367,077
DENVER-AURORA-LAKEWOOD, CO 419 $133,635,000 $318,938
DALLAS-PLANO-IRVING, TX 461 $126,775,000 $275,000
NEWARK, NJ-PA 370 $120,270,000 $325,054
LAS VEGAS-HENDERSON-PARADISE, NV 420 $111,510,000 $265,500
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 343 $108,925,000 $317,566
SEATTLE-BELLEVUE-KENT, WA 260 $108,150,000 $415,962
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 152 $107,160,000 $705,000
PHILADELPHIA, PA 460 $103,990,000 $226,065
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 239 $91,245,000 $381,778
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 361 $82,775,000 $229,294
PROVIDENCE-WARWICK, RI-MA 284 $75,940,000 $267,394
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 101 $75,665,000 $749,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 282 $72,520,000 $257,163
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 252 $72,480,000 $287,619
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 320 $69,880,000 $218,375
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 235 $69,875,000 $297,340
OXNARD-THOUSAND OAKS-VENTURA, CA 156 $69,590,000 $446,090
MIAMI-MIAMI BEACH-KENDALL, FL 203 $69,265,000 $341,207
AUSTIN-ROUND ROCK-GEORGETOWN, TX 224 $68,880,000 $307,500
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 264 $67,620,000 $256,136
CLEVELAND-ELYRIA, OH 408 $65,070,000 $159,485
ORLANDO-KISSIMMEE-SANFORD, FL 260 $63,140,000 $242,846
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 192 $54,130,000 $281,927
SALISBURY, MD-DE 182 $53,280,000 $292,747
BRIDGEPORT-STAMFORD-NORWALK, CT 150 $51,880,000 $345,867
NAPLES-MARCO ISLAND, FL 154 $49,660,000 $322,468
CAMDEN, NJ 211 $48,865,000 $231,588
JACKSONVILLE, FL 203 $47,615,000 $234,557
NEW HAVEN-MILFORD, CT 193 $43,935,000 $227,642
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 194 $42,900,000 $221,134
WORCESTER, MA-CT 176 $42,320,000 $240,455
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 146 $41,560,000 $284,658
RALEIGH-CARY, NC 169 $41,205,000 $243,817
RICHMOND, VA 168 $40,880,000 $243,333
FORT WORTH-ARLINGTON-GRAPEVINE, TX 178 $40,810,000 $229,270
MILWAUKEE-WAUKESHA, WI 167 $40,275,000 $241,168
INDIANAPOLIS-CARMEL-ANDERSON, IN 217 $39,885,000 $183,802
TACOMA-LAKEWOOD, WA 134 $39,470,000 $294,552
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 191 $38,605,000 $202,120
HARRISBURG-CARLISLE, PA 162 $38,230,000 $235,988
NORTH PORT-SARASOTA-BRADENTON, FL 140 $35,990,000 $257,071
SPRINGFIELD, MA 169 $34,545,000 $204,408
MANCHESTER-NASHUA, NH 116 $33,750,000 $290,948
CAPE CORAL-FORT MYERS, FL 140 $32,750,000 $233,929
SANTA MARIA-SANTA BARBARA, CA 67 $31,945,000 $476,791
WILMINGTON, DE-MD-NJ 130 $31,480,000 $242,154
PITTSBURGH, PA 153 $31,145,000 $203,562
CHARLESTON-NORTH CHARLESTON, SC 132 $31,120,000 $235,758
WARREN-TROY-FARMINGTON HILLS, MI 157 $30,935,000 $197,038
SALT LAKE CITY, UT 99 $30,895,000 $312,071
GREENVILLE-ANDERSON, SC 143 $28,005,000 $195,839
FRESNO, CA 102 $27,420,000 $268,824
SAN ANTONIO-NEW BRAUNFELS, TX 125 $27,225,000 $217,800
BARNSTABLE TOWN, MA 79 $26,975,000 $341,456
STOCKTON, CA 87 $26,655,000 $306,379
PORT ST. LUCIE, FL 105 $26,605,000 $253,381
COLUMBUS, OH 136 $26,480,000 $194,706
COLORADO SPRINGS, CO 97 $26,405,000 $272,216
LAKE COUNTY-KENOSHA COUNTY, IL-WI 82 $25,230,000 $307,683
KANSAS CITY, MO-KS 118 $24,860,000 $210,678
ST. LOUIS, MO-IL 124 $24,230,000 $195,403
LAKELAND-WINTER HAVEN, FL 131 $23,105,000 $176,374
NEW ORLEANS-METAIRIE, LA 104 $22,250,000 $213,942
PROVO-OREM, UT 67 $22,095,000 $329,776
RENO, NV 64 $20,580,000 $321,563
CINCINNATI, OH-KY-IN 124 $20,480,000 $165,161
SAN LUIS OBISPO-PASO ROBLES, CA 50 $20,350,000 $407,000
GREENSBORO-HIGH POINT, NC 108 $20,280,000 $187,778
WINSTON-SALEM, NC 119 $20,225,000 $169,958
AUGUSTA-RICHMOND COUNTY, GA-SC 98 $20,180,000 $205,918
VALLEJO, CA 58 $20,080,000 $346,207
PALM BAY-MELBOURNE-TITUSVILLE, FL 93 $20,065,000 $215,753
REDDING, CA 77 $19,205,000 $249,416
SANTA FE, NM 69 $18,825,000 $272,826
SANTA ROSA-PETALUMA, CA 46 $18,700,000 $406,522
DOVER, DE 83 $18,365,000 $221,265
ELGIN, IL 83 $18,175,000 $218,976
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 91 $18,115,000 $199,066
OGDEN-CLEARFIELD, UT 62 $17,700,000 $285,484
MONROE, LA 81 $17,195,000 $212,284
BOULDER, CO 45 $17,145,000 $381,000
TUCSON, AZ 86 $16,720,000 $194,419
BOISE CITY, ID 69 $16,535,000 $239,638
LOUISVILLE/JEFFERSON COUNTY, KY-IN 85 $16,055,000 $188,882
PORTLAND-SOUTH PORTLAND, ME 66 $16,030,000 $242,879
SAN RAFAEL, CA 20 $16,000,000 $800,000
AKRON, OH 102 $15,810,000 $155,000
BAKERSFIELD, CA 64 $14,740,000 $230,313
GREELEY, CO 51 $14,335,000 $281,078
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 77 $13,635,000 $177,078
MEMPHIS, TN-MS-AR 63 $13,605,000 $215,952
SALEM, OR 48 $13,050,000 $271,875
SPOKANE-SPOKANE VALLEY, WA 56 $13,020,000 $232,500
MADISON, WI 49 $12,865,000 $262,551
BIRMINGHAM-HOOVER, AL 67 $12,795,000 $190,970
TRENTON-PRINCETON, NJ 47 $12,545,000 $266,915
BREMERTON-SILVERDALE-PORT ORCHARD, WA 33 $12,505,000 $378,939
OCEAN CITY, NJ 30 $12,370,000 $412,333
MODESTO, CA 50 $12,310,000 $246,200
BUFFALO-CHEEKTOWAGA, NY 77 $12,225,000 $158,766
KNOXVILLE, TN 60 $11,840,000 $197,333
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 33 $11,775,000 $356,818
OLYMPIA-LACEY-TUMWATER, WA 43 $11,685,000 $271,744
FORT COLLINS, CO 39 $11,655,000 $298,846
GARY, IN 63 $11,555,000 $183,413
COLUMBIA, SC 65 $11,335,000 $174,385
DURHAM-CHAPEL HILL, NC 53 $11,115,000 $209,717
ALBUQUERQUE, NM 60 $10,620,000 $177,000
SALINAS, CA 21 $10,375,000 $494,048
ASHEVILLE, NC 38 $10,160,000 $267,368
DETROIT-DEARBORN-LIVONIA, MI 61 $10,015,000 $164,180
SANTA CRUZ-WATSONVILLE, CA 17 $9,885,000 $581,471
LANCASTER, PA 50 $9,880,000 $197,600
ALEXANDRIA, LA 43 $9,845,000 $228,953
PRESCOTT VALLEY-PRESCOTT, AZ 41 $9,705,000 $236,707
PENSACOLA-FERRY PASS-BRENT, FL 43 $9,515,000 $221,279
ALBANY-SCHENECTADY-TROY, NY 52 $9,340,000 $179,615
EUGENE-SPRINGFIELD, OR 34 $9,140,000 $268,824
READING, PA 46 $8,880,000 $193,043
WILMINGTON, NC 39 $8,795,000 $225,513
BATON ROUGE, LA 43 $8,505,000 $197,791
SCRANTON--WILKES-BARRE, PA 55 $8,155,000 $148,273
ATLANTIC CITY-HAMMONTON, NJ 35 $8,005,000 $228,714
CANTON-MASSILLON, OH 58 $7,960,000 $137,241
OCALA, FL 42 $7,690,000 $183,095
HICKORY-LENOIR-MORGANTON, NC 31 $7,625,000 $245,968
YORK-HANOVER, PA 36 $7,590,000 $210,833
NORWICH-NEW LONDON, CT 32 $7,570,000 $236,563
VISALIA, CA 32 $7,540,000 $235,625
CHAMBERSBURG-WAYNESBORO, PA 40 $7,440,000 $186,000
GAINESVILLE, GA 31 $7,295,000 $235,323
CHICO, CA 29 $7,145,000 $246,379
COLUMBUS, GA-AL 34 $6,850,000 $201,471
CHATTANOOGA, TN-GA 37 $6,655,000 $179,865
MEDFORD, OR 24 $6,640,000 $276,667
BEND, OR 24 $6,580,000 $274,167
MERCED, CA 24 $6,570,000 $273,750
EAST STROUDSBURG, PA 34 $6,500,000 $191,176
YUBA CITY, CA 26 $6,340,000 $243,846
BELLINGHAM, WA 21 $6,305,000 $300,238
SAVANNAH, GA 33 $6,135,000 $185,909
KENNEWICK-RICHLAND, WA 25 $6,095,000 $243,800
LAKE HAVASU CITY-KINGMAN, AZ 32 $6,060,000 $189,375
KILLEEN-TEMPLE, TX 30 $6,040,000 $201,333
FAYETTEVILLE, NC 35 $5,945,000 $169,857
HARRISONBURG, VA 27 $5,885,000 $217,963
SEBRING-AVON PARK, FL 40 $5,860,000 $146,500
GRAND RAPIDS-KENTWOOD, MI 35 $5,785,000 $165,286
LONGVIEW, WA 19 $5,735,000 $301,842
TOLEDO, OH 31 $5,725,000 $184,677
AUBURN-OPELIKA, AL 27 $5,715,000 $211,667
KALAMAZOO-PORTAGE, MI 28 $5,690,000 $203,214
BURLINGTON, NC 28 $5,670,000 $202,500
PUNTA GORDA, FL 27 $5,605,000 $207,593
LANSING-EAST LANSING, MI 33 $5,565,000 $168,636
CHARLOTTESVILLE, VA 19 $5,485,000 $288,684
DAYTON-KETTERING, OH 39 $5,325,000 $136,538
HAGERSTOWN-MARTINSBURG, MD-WV 27 $5,305,000 $196,481
ANN ARBOR, MI 23 $5,065,000 $220,217
SHREVEPORT-BOSSIER CITY, LA 27 $4,795,000 $177,593
HILTON HEAD ISLAND-BLUFFTON, SC 22 $4,770,000 $216,818
OKLAHOMA CITY, OK 26 $4,750,000 $182,692
ALBANY-LEBANON, OR 20 $4,740,000 $237,000
FLAGSTAFF, AZ 15 $4,675,000 $311,667
SPARTANBURG, SC 27 $4,635,000 $171,667
CALIFORNIA-LEXINGTON PARK, MD 19 $4,605,000 $242,368
WINCHESTER, VA-WV 19 $4,465,000 $235,000
RACINE, WI 21 $4,455,000 $212,143
TALLAHASSEE, FL 20 $4,350,000 $217,500
NAPA, CA 9 $4,315,000 $479,444
TULSA, OK 23 $4,295,000 $186,739
FLINT, MI 25 $4,215,000 $168,600
GAINESVILLE, FL 22 $4,170,000 $189,545
OMAHA-COUNCIL BLUFFS, NE-IA 23 $4,155,000 $180,652
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 20 $4,100,000 $205,000
LEXINGTON-FAYETTE, KY 24 $4,090,000 $170,417
ROANOKE, VA 22 $3,990,000 $181,364
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 29 $3,775,000 $130,172
PUEBLO, CO 20 $3,740,000 $187,000
YAKIMA, WA 15 $3,675,000 $245,000
ATHENS-CLARKE COUNTY, GA 16 $3,660,000 $228,750
HUNTSVILLE, AL 19 $3,575,000 $188,158
DAPHNE-FAIRHOPE-FOLEY, AL 13 $3,525,000 $271,154
WENATCHEE, WA 12 $3,510,000 $292,500
ROCHESTER, NY 28 $3,460,000 $123,571
MORRISTOWN, TN 19 $3,355,000 $176,579
FORT WAYNE, IN 25 $3,335,000 $133,400
BRUNSWICK, GA 22 $3,330,000 $151,364
CORPUS CHRISTI, TX 18 $3,330,000 $185,000
COEUR D'ALENE, ID 15 $3,275,000 $218,333
GULFPORT-BILOXI, MS 19 $3,235,000 $170,263
LUBBOCK, TX 15 $3,075,000 $205,000
EL PASO, TX 19 $3,055,000 $160,789
CLARKSVILLE, TN-KY 17 $3,045,000 $179,118
HOMOSASSA SPRINGS, FL 17 $3,005,000 $176,765
MADERA, CA 11 $3,005,000 $273,182
WARNER ROBINS, GA 16 $2,990,000 $186,875
SHERMAN-DENISON, TX 13 $2,785,000 $214,231
BEAUMONT-PORT ARTHUR, TX 15 $2,745,000 $183,000
ST. GEORGE, UT 11 $2,745,000 $249,545
KINGSTON, NY 11 $2,705,000 $245,909
JACKSON, MS 19 $2,675,000 $140,789
SOUTH BEND-MISHAWAKA, IN-MI 20 $2,670,000 $133,500
MONTGOMERY, AL 15 $2,615,000 $174,333
SEBASTIAN-VERO BEACH, FL 12 $2,560,000 $213,333
TYLER, TX 12 $2,470,000 $205,833
BROWNSVILLE-HARLINGEN, TX 17 $2,445,000 $143,824
JACKSONVILLE, NC 13 $2,395,000 $184,231
GLENS FALLS, NY 14 $2,340,000 $167,143
CAPE GIRARDEAU, MO-IL 14 $2,320,000 $165,714
PANAMA CITY, FL 13 $2,265,000 $174,231
BURLINGTON-SOUTH BURLINGTON, VT 8 $2,220,000 $277,500
GRAND JUNCTION, CO 8 $2,220,000 $277,500
YUMA, AZ 11 $2,215,000 $201,364
WICHITA, KS 14 $2,190,000 $156,429
VINELAND-BRIDGETON, NJ 12 $2,110,000 $175,833
LAFAYETTE, LA 14 $2,070,000 $147,857
THE VILLAGES, FL 12 $2,060,000 $171,667
MOUNT VERNON-ANACORTES, WA 8 $2,060,000 $257,500
WACO, TX 11 $2,045,000 $185,909
ROCKFORD, IL 15 $2,015,000 $134,333
CARSON CITY, NV 9 $2,005,000 $222,778
RAPID CITY, SD 10 $2,000,000 $200,000
HANFORD-CORCORAN, CA 8 $1,970,000 $246,250
BANGOR, ME 12 $1,950,000 $162,500
HAMMOND, LA 9 $1,935,000 $215,000
ST. CLOUD, MN 12 $1,890,000 $157,500
GETTYSBURG, PA 9 $1,865,000 $207,222
GREEN BAY, WI 10 $1,830,000 $183,000
BLOOMINGTON, IL 9 $1,825,000 $202,778
DES MOINES-WEST DES MOINES, IA 11 $1,825,000 $165,909
SYRACUSE, NY 11 $1,795,000 $163,182
BILLINGS, MT 8 $1,780,000 $222,500
BATTLE CREEK, MI 13 $1,755,000 $135,000
NEW BERN, NC 8 $1,750,000 $218,750
HOUMA-THIBODAUX, LA 12 $1,720,000 $143,333
DECATUR, AL 9 $1,715,000 $190,556
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 10 $1,670,000 $167,000
SPRINGFIELD, MO 12 $1,640,000 $136,667
IDAHO FALLS, ID 8 $1,630,000 $203,750
LONGVIEW, TX 8 $1,600,000 $200,000
ELKHART-GOSHEN, IN 12 $1,580,000 $131,667
STAUNTON, VA 8 $1,560,000 $195,000
CLEVELAND, TN 8 $1,500,000 $187,500
SHEBOYGAN, WI 7 $1,475,000 $210,714
HUNTINGTON-ASHLAND, WV-KY-OH 10 $1,440,000 $144,000
CHEYENNE, WY 6 $1,440,000 $240,000
EL CENTRO, CA 7 $1,435,000 $205,000
APPLETON, WI 7 $1,395,000 $199,286
STATE COLLEGE, PA 5 $1,395,000 $279,000
LAFAYETTE-WEST LAFAYETTE, IN 10 $1,370,000 $137,000
COLLEGE STATION-BRYAN, TX 7 $1,365,000 $195,000
TWIN FALLS, ID 7 $1,365,000 $195,000
LAWRENCE, KS 7 $1,355,000 $193,571
OSHKOSH-NEENAH, WI 8 $1,350,000 $168,750
LYNCHBURG, VA 9 $1,345,000 $149,444
GREENVILLE, NC 9 $1,295,000 $143,889
GRANTS PASS, OR 5 $1,275,000 $255,000
AMARILLO, TX 7 $1,275,000 $182,143
LAS CRUCES, NM 6 $1,260,000 $210,000
KINGSPORT-BRISTOL, TN-VA 9 $1,245,000 $138,333
ABILENE, TX 5 $1,215,000 $243,000
LINCOLN, NE 8 $1,210,000 $151,250
MOBILE, AL 8 $1,190,000 $148,750
UTICA-ROME, NY 6 $1,190,000 $198,333
HINESVILLE, GA 6 $1,170,000 $195,000
TERRE HAUTE, IN 8 $1,140,000 $142,500
LAWTON, OK 6 $1,130,000 $188,333
DALTON, GA 7 $1,105,000 $157,857
JACKSON, TN 7 $1,095,000 $156,429
MCALLEN-EDINBURG-MISSION, TX 8 $1,090,000 $136,250
EVANSVILLE, IN-KY 7 $1,075,000 $153,571
ANNISTON-OXFORD, AL 8 $1,050,000 $131,250
SIOUX FALLS, SD 3 $1,025,000 $341,667
GOLDSBORO, NC 8 $1,020,000 $127,500
MACON-BIBB COUNTY, GA 7 $1,015,000 $145,000
TUSCALOOSA, AL 5 $1,015,000 $203,000
KANKAKEE, IL 6 $990,000 $165,000
MANSFIELD, OH 6 $970,000 $161,667
CHAMPAIGN-URBANA, IL 6 $970,000 $161,667
SUMTER, SC 7 $945,000 $135,000
MUSKEGON, MI 7 $925,000 $132,143
WATERTOWN-FORT DRUM, NY 4 $920,000 $230,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 6 $900,000 $150,000
ROCKY MOUNT, NC 5 $885,000 $177,000
MICHIGAN CITY-LA PORTE, IN 7 $885,000 $126,429
ERIE, PA 4 $880,000 $220,000
SPRINGFIELD, OH 7 $855,000 $122,143
JANESVILLE-BELOIT, WI 7 $845,000 $120,714
SIERRA VISTA-DOUGLAS, AZ 6 $840,000 $140,000
FOND DU LAC, WI 6 $830,000 $138,333
PITTSFIELD, MA 4 $800,000 $200,000
DOTHAN, AL 4 $790,000 $197,500
MONROE, MI 7 $785,000 $112,143
LEBANON, PA 5 $775,000 $155,000
MANHATTAN, KS 3 $765,000 $255,000
FLORENCE, SC 6 $750,000 $125,000
TEXARKANA, TX-AR 6 $750,000 $125,000
LAKE CHARLES, LA 5 $745,000 $149,000
BLOOMINGTON, IN 6 $740,000 $123,333
URBAN HONOLULU, HI 1 $725,000 $725,000
JOHNSON CITY, TN 6 $720,000 $120,000
CASPER, WY 4 $710,000 $177,500
CEDAR RAPIDS, IA 6 $680,000 $113,333
JOPLIN, MO 5 $675,000 $135,000
DULUTH, MN-WI 5 $665,000 $133,000
CHARLESTON, WV 6 $660,000 $110,000
PEORIA, IL 4 $660,000 $165,000
ALBANY, GA 5 $645,000 $129,000
KOKOMO, IN 4 $640,000 $160,000
LEWISTON, ID-WA 2 $630,000 $315,000
LAREDO, TX 3 $625,000 $208,333
JACKSON, MI 5 $625,000 $125,000
MISSOULA, MT 3 $625,000 $208,333
WILLIAMSPORT, PA 3 $615,000 $205,000
POCATELLO, ID 3 $615,000 $205,000
ANCHORAGE, AK 2 $610,000 $305,000
GADSDEN, AL 4 $600,000 $150,000
MIDLAND, TX 3 $585,000 $195,000
SAGINAW, MI 4 $570,000 $142,500
BISMARCK, ND 3 $565,000 $188,333
PINE BLUFF, AR 5 $565,000 $113,000
LEWISTON-AUBURN, ME 3 $565,000 $188,333
JOHNSTOWN, PA 4 $540,000 $135,000
CUMBERLAND, MD-WV 5 $535,000 $107,000
ENID, OK 2 $530,000 $265,000
ODESSA, TX 3 $525,000 $175,000
COLUMBIA, MO 4 $490,000 $122,500
BOWLING GREEN, KY 4 $490,000 $122,500
ROCHESTER, MN 3 $485,000 $161,667
DUBUQUE, IA 3 $485,000 $161,667
WALLA WALLA, WA 2 $440,000 $220,000
HOT SPRINGS, AR 3 $435,000 $145,000
HATTIESBURG, MS 3 $425,000 $141,667
GREAT FALLS, MT 3 $425,000 $141,667
WATERLOO-CEDAR FALLS, IA 3 $425,000 $141,667
MORGANTOWN, WV 4 $410,000 $102,500
WAUSAU-WESTON, WI 2 $400,000 $200,000
GRAND FORKS, ND-MN 1 $395,000 $395,000
ELIZABETHTOWN-FORT KNOX, KY 3 $395,000 $131,667
LOGAN, UT-ID 2 $390,000 $195,000
MANKATO, MN 3 $385,000 $128,333
FORT SMITH, AR-OK 3 $385,000 $128,333
FARMINGTON, NM 3 $385,000 $128,333
JONESBORO, AR 2 $340,000 $170,000
BLACKSBURG-CHRISTIANSBURG, VA 3 $335,000 $111,667
SPRINGFIELD, IL 3 $315,000 $105,000
FLORENCE-MUSCLE SHOALS, AL 3 $305,000 $101,667
VALDOSTA, GA 3 $305,000 $101,667
TOPEKA, KS 2 $290,000 $145,000
GRAND ISLAND, NE 2 $290,000 $145,000
CORVALLIS, OR 1 $265,000 $265,000
MIDLAND, MI 3 $265,000 $88,333
DANVILLE, IL 2 $260,000 $130,000
WHEELING, WV-OH 3 $255,000 $85,000
MUNCIE, IN 2 $250,000 $125,000
BECKLEY, WV 1 $245,000 $245,000
BINGHAMTON, NY 2 $240,000 $120,000
ST. JOSEPH, MO-KS 2 $240,000 $120,000
DECATUR, IL 2 $240,000 $120,000
EAU CLAIRE, WI 2 $220,000 $110,000
WICHITA FALLS, TX 3 $215,000 $71,667
CARBONDALE-MARION, IL 2 $210,000 $105,000
OWENSBORO, KY 2 $210,000 $105,000
JEFFERSON CITY, MO 2 $210,000 $105,000
SAN ANGELO, TX 1 $205,000 $205,000
SIOUX CITY, IA-NE-SD 1 $185,000 $185,000
AMES, IA 1 $185,000 $185,000
ITHACA, NY 1 $185,000 $185,000
LA CROSSE-ONALASKA, WI-MN 1 $165,000 $165,000
BLOOMSBURG-BERWICK, PA 1 $165,000 $165,000
BAY CITY, MI 2 $160,000 $80,000
FARGO, ND-MN 1 $155,000 $155,000
ROME, GA 2 $130,000 $65,000
ELMIRA, NY 1 $125,000 $125,000
LIMA, OH 1 $125,000 $125,000
COLUMBUS, IN 1 $105,000 $105,000
WEIRTON-STEUBENVILLE, WV-OH 1 $95,000 $95,000
PARKERSBURG-VIENNA, WV 1 $75,000 $75,000

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% 92 $520,000 $5,652
2.5-3% 982 $279,960,000 $285,092
3-4% 18,294 $5,158,290,000 $281,966
4-5% 11,640 $3,282,810,000 $282,028
5-6% 2,422 $889,040,000 $367,069
6-7% 1,104 $440,960,000 $399,420
7-8% 350 $101,000,000 $288,571
Over 8% 82 $12,630,000 $154,024

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 2,074 $148,400,000 $71,553
$100k-200k 10,209 $1,574,145,000 $154,192
$200k-400k 16,194 $4,595,950,000 $283,806
$400k-600k 4,608 $2,153,400,000 $467,318
$600k-1000k 1,406 $1,045,100,000 $743,314
$Over $1MM 476 $648,540,000 $1,362,479

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
20-40% 1,106 $235,510,000 $212,939
40-60% 3,738 $1,028,890,000 $275,251
60-80% 11,672 $3,555,470,000 $304,615
80-100% 13,630 $4,147,740,000 $304,310
Over 100% 431 $139,335,000 $323,283
Under 20% 359 $31,455,000 $87,618

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 7,221 $2,254,725,000 $312,246
$150k-250k 4,419 $1,739,585,000 $393,660
$50k-75k 6,596 $1,349,690,000 $204,622
$50k-or less 3,611 $504,645,000 $139,752
$75k-100k 5,742 $1,480,560,000 $257,847
$Over $250k 2,142 $1,428,200,000 $666,760

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 25,495 $7,395,345,000 $290,070
Not provided 3,806 $1,065,690,000 $280,003
Black 3,466 $872,100,000 $251,616
Asian 1,817 $721,155,000 $396,893
American Indian 204 $55,870,000 $273,873
Native Hawaiian 100 $32,930,000 $329,300
Not applicable 79 $22,445,000 $284,114

Approval Rates

Total approvals of all applications
89.20%

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
-41.84%

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 34,967 $10,165,535,000 $290,718

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 15,896 $4,333,660,000 $272,626
$1k-2k 7,458 $1,867,450,000 $250,396
$2k-3k 3,542 $852,070,000 $240,562
$3k-4k 3,959 $1,074,355,000 $271,370
$5k+ 4,112 $2,038,000,000 $495,623

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):Manufactured 417 $70,155,000 $168,237
Single Family (1-4 Units):Site-Built 34,550 $10,095,380,000 $292,196