Clearpath Lending

Irvine, CA 92618

LEI: 549300G5DVGM0ZHRQC33

Tax ID: 45-5510883

2019 Data | 2018 Data

Overview

Clearpath Lending is a small mortgage company specializing in Refi loans. Clearpath Lending has a low ratio of conventional loans. They have an average proportion of FHA loans. Their top markets include Phoenix, Riverside, Las Vegas, Washington, 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. Clearpath Lending is typically a low fee medium-low fee lendor.

Originations

9,269

Origination Dollar Volume (All Markets)

$2,363,475,000

Product Mix

Loan Type	Originations	Total Value	Average Loan
Conventional	55	$18,505,000	$336,455
FHA	731	$190,895,000	$261,142
VA	8,483	$2,154,075,000	$253,928

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	22	$6,340,000	$288,182
Refi	8,961	$2,270,815,000	$253,411
Cash Out Refi	286	$86,320,000	$301,818

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	807	$175,605,000	$217,602
PHOENIX-MESA-CHANDLER, AZ	550	$132,920,000	$241,673
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA	310	$100,220,000	$323,290
LAS VEGAS-HENDERSON-PARADISE, NV	332	$93,900,000	$282,831
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV	187	$74,095,000	$396,230
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA	257	$62,315,000	$242,471
SAN DIEGO-CHULA VISTA-CARLSBAD, CA	108	$51,260,000	$474,630
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC	200	$49,880,000	$249,400
LOS ANGELES-LONG BEACH-GLENDALE, CA	104	$45,690,000	$439,327
TAMPA-ST. PETERSBURG-CLEARWATER, FL	161	$39,695,000	$246,553
DENVER-AURORA-LAKEWOOD, CO	109	$37,145,000	$340,780
COLORADO SPRINGS, CO	132	$36,560,000	$276,970
URBAN HONOLULU, HI	67	$35,955,000	$536,642
SACRAMENTO-ROSEVILLE-FOLSOM, CA	99	$35,735,000	$360,960
CHARLOTTE-CONCORD-GASTONIA, NC-SC	148	$34,980,000	$236,351
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN	125	$34,265,000	$274,120
ORLANDO-KISSIMMEE-SANFORD, FL	126	$32,460,000	$257,619
CHICAGO-NAPERVILLE-EVANSTON, IL	127	$30,895,000	$243,268
HOUSTON-THE WOODLANDS-SUGAR LAND, TX	124	$30,740,000	$247,903
DALLAS-PLANO-IRVING, TX	103	$29,565,000	$287,039
SAN ANTONIO-NEW BRAUNFELS, TX	103	$28,425,000	$275,971
TUCSON, AZ	133	$28,185,000	$211,917
JACKSONVILLE, FL	110	$26,770,000	$243,364
CHARLESTON-NORTH CHARLESTON, SC	110	$25,360,000	$230,545
INDIANAPOLIS-CARMEL-ANDERSON, IN	105	$22,855,000	$217,667
FAYETTEVILLE, NC	119	$22,815,000	$191,723
COLUMBIA, SC	111	$21,945,000	$197,703
BALTIMORE-COLUMBIA-TOWSON, MD	71	$21,235,000	$299,085
WARREN-TROY-FARMINGTON HILLS, MI	94	$20,640,000	$219,574
COLUMBUS, OH	85	$19,715,000	$231,941
BOISE CITY, ID	72	$18,870,000	$262,083
OAKLAND-BERKELEY-LIVERMORE, CA	33	$18,525,000	$561,364
FORT WORTH-ARLINGTON-GRAPEVINE, TX	75	$17,925,000	$239,000
RICHMOND, VA	67	$15,825,000	$236,194
AUSTIN-ROUND ROCK-GEORGETOWN, TX	55	$15,755,000	$286,455
GREENVILLE-ANDERSON, SC	64	$15,050,000	$235,156
ALBUQUERQUE, NM	70	$15,020,000	$214,571
STOCKTON, CA	43	$14,775,000	$343,605
KILLEEN-TEMPLE, TX	70	$14,650,000	$209,286
RALEIGH-CARY, NC	61	$14,585,000	$239,098
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL	44	$13,560,000	$308,182
JACKSONVILLE, NC	74	$13,360,000	$180,541
ANAHEIM-SANTA ANA-IRVINE, CA	24	$13,140,000	$547,500
RENO, NV	40	$12,430,000	$310,750
CLARKSVILLE, TN-KY	65	$12,355,000	$190,077
AUGUSTA-RICHMOND COUNTY, GA-SC	55	$12,105,000	$220,091
MILWAUKEE-WAUKESHA, WI	56	$12,070,000	$215,536
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL	38	$11,650,000	$306,579
OMAHA-COUNCIL BLUFFS, NE-IA	48	$11,630,000	$242,292
CINCINNATI, OH-KY-IN	55	$11,165,000	$203,000
VALLEJO, CA	28	$11,100,000	$396,429
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL	48	$11,060,000	$230,417
LAKE HAVASU CITY-KINGMAN, AZ	51	$10,945,000	$214,608
BIRMINGHAM-HOOVER, AL	47	$10,845,000	$230,745
CAPE CORAL-FORT MYERS, FL	46	$10,800,000	$234,783
PRESCOTT VALLEY-PRESCOTT, AZ	41	$10,665,000	$260,122
NEW BRUNSWICK-LAKEWOOD, NJ	33	$10,025,000	$303,788
GREELEY, CO	34	$9,640,000	$283,529
CLEVELAND-ELYRIA, OH	51	$9,625,000	$188,725
FRESNO, CA	38	$9,570,000	$251,842
NORTH PORT-SARASOTA-BRADENTON, FL	34	$9,510,000	$279,706
BAKERSFIELD, CA	40	$9,280,000	$232,000
HUNTSVILLE, AL	42	$8,820,000	$210,000
MEMPHIS, TN-MS-AR	37	$8,715,000	$235,541
PALM BAY-MELBOURNE-TITUSVILLE, FL	36	$8,460,000	$235,000
KNOXVILLE, TN	40	$8,380,000	$209,500
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA	30	$8,280,000	$276,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA	13	$8,005,000	$615,769
CHATTANOOGA, TN-GA	37	$7,785,000	$210,405
GARY, IN	38	$7,700,000	$202,632
LAKELAND-WINTER HAVEN, FL	31	$7,195,000	$232,097
PENSACOLA-FERRY PASS-BRENT, FL	34	$7,110,000	$209,118
DAYTON-KETTERING, OH	33	$7,085,000	$214,697
HILTON HEAD ISLAND-BLUFFTON, SC	31	$7,075,000	$228,226
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL	28	$7,060,000	$252,143
NEW ORLEANS-METAIRIE, LA	31	$6,715,000	$216,613
MODESTO, CA	23	$6,395,000	$278,043
COEUR D'ALENE, ID	21	$6,375,000	$303,571
CAMDEN, NJ	28	$6,270,000	$223,929
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC	28	$6,210,000	$221,786
GREENSBORO-HIGH POINT, NC	33	$6,125,000	$185,606
WINSTON-SALEM, NC	32	$6,070,000	$189,688
BATON ROUGE, LA	30	$5,900,000	$196,667
PUEBLO, CO	27	$5,895,000	$218,333
FREDERICK-GAITHERSBURG-ROCKVILLE, MD	15	$5,815,000	$387,667
PORT ST. LUCIE, FL	23	$5,715,000	$248,478
EL PASO, TX	31	$5,715,000	$184,355
VISALIA, CA	23	$5,355,000	$232,826
LAKE COUNTY-KENOSHA COUNTY, IL-WI	23	$5,345,000	$232,391
PHILADELPHIA, PA	26	$5,330,000	$205,000
MONTGOMERY, AL	24	$5,290,000	$220,417
OCALA, FL	21	$5,255,000	$250,238
SHREVEPORT-BOSSIER CITY, LA	23	$5,225,000	$227,174
YUBA CITY, CA	19	$4,995,000	$262,895
SIERRA VISTA-DOUGLAS, AZ	24	$4,910,000	$204,583
REDDING, CA	20	$4,810,000	$240,500
NEWARK, NJ-PA	15	$4,805,000	$320,333
COLUMBUS, GA-AL	20	$4,800,000	$240,000
MIAMI-MIAMI BEACH-KENDALL, FL	16	$4,760,000	$297,500
KAHULUI-WAILUKU-LAHAINA, HI	9	$4,725,000	$525,000
FLINT, MI	26	$4,710,000	$181,154
YUMA, AZ	23	$4,565,000	$198,478
PUNTA GORDA, FL	20	$4,480,000	$224,000
OXNARD-THOUSAND OAKS-VENTURA, CA	7	$4,475,000	$639,286
GRAND RAPIDS-KENTWOOD, MI	19	$4,415,000	$232,368
ST. LOUIS, MO-IL	21	$4,415,000	$210,238
SANTA MARIA-SANTA BARBARA, CA	10	$4,380,000	$438,000
DETROIT-DEARBORN-LIVONIA, MI	24	$4,360,000	$181,667
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ	19	$4,295,000	$226,053
TOLEDO, OH	21	$4,235,000	$201,667
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI	19	$4,235,000	$222,895
SUMTER, SC	23	$4,075,000	$177,174
MADISON, WI	15	$4,065,000	$271,000
LAS CRUCES, NM	20	$4,060,000	$203,000
ELGIN, IL	17	$3,985,000	$234,412
ASHEVILLE, NC	17	$3,875,000	$227,941
DURHAM-CHAPEL HILL, NC	18	$3,860,000	$214,444
CORPUS CHRISTI, TX	18	$3,800,000	$211,111
HINESVILLE, GA	19	$3,785,000	$199,211
PITTSBURGH, PA	17	$3,775,000	$222,059
SAVANNAH, GA	19	$3,655,000	$192,368
MERCED, CA	14	$3,560,000	$254,286
HARRISBURG-CARLISLE, PA	15	$3,505,000	$233,667
FORT WAYNE, IN	17	$3,495,000	$205,588
ANN ARBOR, MI	13	$3,465,000	$266,538
GRAND JUNCTION, CO	14	$3,340,000	$238,571
WILMINGTON, NC	15	$3,275,000	$218,333
HANFORD-CORCORAN, CA	16	$3,250,000	$203,125
GREAT FALLS, MT	17	$3,175,000	$186,765
DAPHNE-FAIRHOPE-FOLEY, AL	16	$3,070,000	$191,875
BROWNSVILLE-HARLINGEN, TX	14	$3,010,000	$215,000
ROANOKE, VA	16	$2,930,000	$183,125
AKRON, OH	17	$2,865,000	$168,529
MORRISTOWN, TN	16	$2,860,000	$178,750
MOBILE, AL	15	$2,845,000	$189,667
FARMINGTON, NM	13	$2,825,000	$217,308
LAFAYETTE-WEST LAFAYETTE, IN	12	$2,750,000	$229,167
SAN LUIS OBISPO-PASO ROBLES, CA	6	$2,720,000	$453,333
MADERA, CA	13	$2,705,000	$208,077
KINGSPORT-BRISTOL, TN-VA	15	$2,695,000	$179,667
NAPLES-MARCO ISLAND, FL	9	$2,675,000	$297,222
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA	16	$2,650,000	$165,625
NEW BERN, NC	15	$2,635,000	$175,667
SANTA ROSA-PETALUMA, CA	6	$2,630,000	$438,333
WARNER ROBINS, GA	13	$2,555,000	$196,538
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ	7	$2,555,000	$365,000
FORT COLLINS, CO	8	$2,460,000	$307,500
READING, PA	11	$2,365,000	$215,000
HAGERSTOWN-MARTINSBURG, MD-WV	9	$2,345,000	$260,556
SALINAS, CA	6	$2,320,000	$386,667
LUBBOCK, TX	11	$2,285,000	$207,727
MUSKEGON, MI	13	$2,275,000	$175,000
CALIFORNIA-LEXINGTON PARK, MD	8	$2,260,000	$282,500
FLORENCE, SC	11	$2,225,000	$202,273
RACINE, WI	11	$2,185,000	$198,636
EL CENTRO, CA	8	$2,140,000	$267,500
LONGVIEW, TX	11	$2,125,000	$193,182
SPARTANBURG, SC	10	$2,100,000	$210,000
SEBASTIAN-VERO BEACH, FL	9	$2,075,000	$230,556
LAKE CHARLES, LA	8	$1,970,000	$246,250
VALDOSTA, GA	10	$1,970,000	$197,000
TALLAHASSEE, FL	9	$1,965,000	$218,333
LYNCHBURG, VA	8	$1,950,000	$243,750
DOTHAN, AL	8	$1,900,000	$237,500
TUSCALOOSA, AL	10	$1,880,000	$188,000
CANTON-MASSILLON, OH	9	$1,825,000	$202,778
IDAHO FALLS, ID	8	$1,800,000	$225,000
SCRANTON--WILKES-BARRE, PA	10	$1,760,000	$176,000
GREEN BAY, WI	9	$1,755,000	$195,000
EAST STROUDSBURG, PA	8	$1,750,000	$218,750
CHICO, CA	6	$1,730,000	$288,333
TRENTON-PRINCETON, NJ	7	$1,725,000	$246,429
SANTA FE, NM	6	$1,710,000	$285,000
LEBANON, PA	9	$1,705,000	$189,444
BATTLE CREEK, MI	10	$1,700,000	$170,000
SOUTH BEND-MISHAWAKA, IN-MI	8	$1,700,000	$212,500
HICKORY-LENOIR-MORGANTON, NC	7	$1,685,000	$240,714
AMARILLO, TX	7	$1,675,000	$239,286
LANSING-EAST LANSING, MI	10	$1,660,000	$166,000
CHAMBERSBURG-WAYNESBORO, PA	8	$1,630,000	$203,750
KALAMAZOO-PORTAGE, MI	8	$1,620,000	$202,500
JACKSON, TN	7	$1,595,000	$227,857
ROCKY MOUNT, NC	8	$1,590,000	$198,750
CHARLOTTESVILLE, VA	6	$1,580,000	$263,333
LANCASTER, PA	6	$1,580,000	$263,333
GOLDSBORO, NC	7	$1,575,000	$225,000
WACO, TX	7	$1,565,000	$223,571
LINCOLN, NE	10	$1,560,000	$156,000
WILLIAMSPORT, PA	9	$1,555,000	$172,778
PANAMA CITY, FL	8	$1,550,000	$193,750
GAINESVILLE, FL	7	$1,545,000	$220,714
CARSON CITY, NV	5	$1,535,000	$307,000
HOMOSASSA SPRINGS, FL	6	$1,510,000	$251,667
ALEXANDRIA, LA	7	$1,505,000	$215,000
WILMINGTON, DE-MD-NJ	6	$1,490,000	$248,333
SANTA CRUZ-WATSONVILLE, CA	3	$1,485,000	$495,000
COLLEGE STATION-BRYAN, TX	6	$1,470,000	$245,000
MACON-BIBB COUNTY, GA	8	$1,460,000	$182,500
EVANSVILLE, IN-KY	7	$1,385,000	$197,857
NILES, MI	7	$1,365,000	$195,000
MONROE, MI	6	$1,360,000	$226,667
YORK-HANOVER, PA	7	$1,355,000	$193,571
POCATELLO, ID	6	$1,300,000	$216,667
ABILENE, TX	6	$1,290,000	$215,000
OSHKOSH-NEENAH, WI	8	$1,290,000	$161,250
SHERMAN-DENISON, TX	5	$1,265,000	$253,000
MIDLAND, TX	5	$1,245,000	$249,000
SALISBURY, MD-DE	5	$1,195,000	$239,000
JOHNSON CITY, TN	6	$1,180,000	$196,667
NAPA, CA	2	$1,160,000	$580,000
JACKSON, MI	7	$1,155,000	$165,000
SPRINGFIELD, OH	5	$1,115,000	$223,000
WAUSAU-WESTON, WI	6	$1,090,000	$181,667
LAFAYETTE, LA	5	$1,085,000	$217,000
ELKHART-GOSHEN, IN	6	$1,080,000	$180,000
BOULDER, CO	3	$1,065,000	$355,000
LA CROSSE-ONALASKA, WI-MN	3	$1,045,000	$348,333
MANSFIELD, OH	6	$1,040,000	$173,333
LIMA, OH	6	$1,020,000	$170,000
FLAGSTAFF, AZ	4	$1,000,000	$250,000
STAUNTON, VA	6	$990,000	$165,000
TYLER, TX	5	$965,000	$193,000
MICHIGAN CITY-LA PORTE, IN	5	$955,000	$191,000
TWIN FALLS, ID	5	$945,000	$189,000
ODESSA, TX	4	$880,000	$220,000
JANESVILLE-BELOIT, WI	5	$865,000	$173,000
ERIE, PA	5	$835,000	$167,000
HAMMOND, LA	4	$830,000	$207,500
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA	1	$815,000	$815,000
EAU CLAIRE, WI	4	$770,000	$192,500
CLEVELAND, TN	3	$745,000	$248,333
HUNTINGTON-ASHLAND, WV-KY-OH	4	$730,000	$182,500
VINELAND-BRIDGETON, NJ	3	$715,000	$238,333
LOUISVILLE/JEFFERSON COUNTY, KY-IN	4	$710,000	$177,500
ALBANY, GA	3	$675,000	$225,000
WINCHESTER, VA-WV	2	$670,000	$335,000
MONROE, LA	2	$650,000	$325,000
MUNCIE, IN	4	$620,000	$155,000
BRUNSWICK, GA	3	$605,000	$201,667
GETTYSBURG, PA	3	$585,000	$195,000
GADSDEN, AL	3	$555,000	$185,000
BLOOMINGTON, IN	2	$550,000	$275,000
SAN ANGELO, TX	3	$545,000	$181,667
ATLANTIC CITY-HAMMONTON, NJ	3	$545,000	$181,667
BEAUMONT-PORT ARTHUR, TX	2	$520,000	$260,000
SEBRING-AVON PARK, FL	3	$515,000	$171,667
JOHNSTOWN, PA	3	$505,000	$168,333
DECATUR, AL	2	$500,000	$250,000
FOND DU LAC, WI	3	$485,000	$161,667
BLOOMINGTON, IL	2	$480,000	$240,000
KOKOMO, IN	2	$480,000	$240,000
THE VILLAGES, FL	2	$470,000	$235,000
MISSOULA, MT	2	$470,000	$235,000
GREENVILLE, NC	2	$450,000	$225,000
LAREDO, TX	2	$420,000	$210,000
ALTOONA, PA	3	$415,000	$138,333
TERRE HAUTE, IN	3	$405,000	$135,000
WICHITA FALLS, TX	2	$390,000	$195,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL	2	$390,000	$195,000
HARRISONBURG, VA	2	$390,000	$195,000
LEWISTON, ID-WA	2	$390,000	$195,000
MCALLEN-EDINBURG-MISSION, TX	2	$390,000	$195,000
FLORENCE-MUSCLE SHOALS, AL	2	$380,000	$190,000
CHAMPAIGN-URBANA, IL	2	$380,000	$190,000
PEORIA, IL	3	$375,000	$125,000
BURLINGTON, NC	2	$370,000	$185,000
ATHENS-CLARKE COUNTY, GA	1	$365,000	$365,000
BILLINGS, MT	2	$360,000	$180,000
ROME, GA	2	$360,000	$180,000
DALTON, GA	2	$340,000	$170,000
ANNISTON-OXFORD, AL	2	$320,000	$160,000
MIDLAND, MI	2	$290,000	$145,000
APPLETON, WI	1	$255,000	$255,000
GAINESVILLE, GA	1	$255,000	$255,000
OCEAN CITY, NJ	1	$245,000	$245,000
SHEBOYGAN, WI	1	$225,000	$225,000
SPRINGFIELD, IL	1	$205,000	$205,000
BAY CITY, MI	1	$195,000	$195,000
TEXARKANA, TX-AR	1	$195,000	$195,000
GRAND ISLAND, NE	1	$155,000	$155,000
CUMBERLAND, MD-WV	1	$155,000	$155,000
SIOUX CITY, IA-NE-SD	1	$145,000	$145,000
SAGINAW, MI	1	$145,000	$145,000
ROCKFORD, IL	1	$135,000	$135,000

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
2.5-3%	103	$26,425,000	$256,553
3-4%	6,458	$1,704,930,000	$264,003
4-5%	2,671	$623,565,000	$233,458
5-6%	37	$8,555,000	$231,216

Loan Sizing

Loan Size	Originations	Total Value	Average Loan
$100,000 or less	7	$585,000	$83,571
$100k-200k	3,445	$569,975,000	$165,450
$200k-400k	4,917	$1,329,905,000	$270,471
$400k-600k	726	$340,960,000	$469,642
$600k-1000k	171	$118,465,000	$692,778
$Over $1MM	3	$3,585,000	$1,195,000

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%	5	$2,175,000	$435,000
40-60%	34	$7,550,000	$222,059
60-80%	440	$94,000,000	$213,636
80-100%	7,181	$1,871,445,000	$260,611
Over 100%	1,609	$388,305,000	$241,333

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	1	$575,000	$575,000
$150k-250k	1	$575,000	$575,000
$50k-or less	9,267	$2,362,325,000	$254,918

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan
White	6,569	$1,645,835,000	$250,546
Black	2,372	$611,550,000	$257,820
Asian	176	$61,620,000	$350,114
Native Hawaiian	73	$23,425,000	$320,890
American Indian	67	$18,095,000	$270,075
Not provided	12	$2,950,000	$245,833

Approval Rates

Total approvals of all applications
88.20%

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
81.09%

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	9,269	$2,363,475,000	$254,987

Origination Fees

Origination Fee	Originations	Total Value	Average Loan
$<1k	4,680	$1,016,880,000	$217,282
$1k-2k	3,164	$786,470,000	$248,568
$2k-3k	918	$308,610,000	$336,176
$3k-4k	411	$191,005,000	$464,732
$5k+	86	$58,140,000	$676,047

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	173	$31,875,000	$184,249
Single Family (1-4 Units):Site-Built	9,096	$2,331,600,000	$256,332