Community Bank Mortgage Rates, Fees & Info
Dunlap, IALEI: 549300FVMNIRTHZI8Z30
Tax ID: 42-0225290
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Mortgage Data
Review & Overview
Community Bank is a smaller bank specializing in Cash Out Refi and Home Improvement loans. Community Bank has a high proportion of conventional loans. Their top two markets are Omaha and Storm Lake .Community Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
15Origination Dollar Volume (All Markets)
$795,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 11 | $585,000 | $53,182 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 0.00% |
| Storm Lake, IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $795,000 | $53,000 | $0 | 0.00% |
For 2019, Community Bank's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
For 2019, Community Bank's most frequently cited loan purpose was Cash Out Refi, with 6 originations. The 2nd most popular reason was Home Improvement, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 15 | $795,000 | $53,000 | $0 | 0.00% |
For 2019, Community Bank's most frequently cited loan duration was Other, with 15 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 13 | $545,000 | $41,923 | $0 | 0.00% |
| $100k-200k | 2 | $250,000 | $125,000 | $0 | 0.00% |
2019 saw Community Bank place emphasis on $100,000 or less loans with 13 originations, totaling $545,000 in origination value.
Applicant Income
Community Bank lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $100k-150k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 15 | $795,000 | $53,000 | $0 | 0.00% |
Community Bank lent most frequently to those with DTI ratios of Exempt%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 14 | $760,000 | $54,286 | $0 | 0.00% |
| Not applicable | 1 | $35,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.00%
Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination46.67%
Community Bank 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 |
|---|---|---|---|
| Exempt | 15 | $795,000 | $53,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $80,000 | $40,000 |
| Single Family (1-4 Units):Site-Built | 13 | $715,000 | $55,000 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| COMMUNITY BANK SYSTEM, INC. | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 20.0% |