Tcf National Bank

Plymouth, MN 55441

LEI: 549300GJGUHNTC6JI536

Tax ID: 41-0585310

2019 Data | 2018 Data


Overview

Tcf National Bank is a small mortgage company specializing in Home Purchase and Refi loans. Tcf National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Warren, Minneapolis, Chicago, Los Angeles, and Phoenix among others. They have an above 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. Tcf National Bank is typically a lendor.


Originations

22,887

Origination Dollar Volume (All Markets)

$4,135,315,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 22,128 $3,990,180,000 $180,323
FHA 499 $85,625,000 $171,593
VA 234 $56,010,000 $239,359
USDA 26 $3,500,000 $134,615

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 8,308 $1,994,020,000 $240,012
Home Improvement 4,989 $489,505,000 $98,117
Other 2,480 $253,550,000 $102,238
Refi 5,674 $1,120,410,000 $197,464
Cash Out Refi 1,436 $277,830,000 $193,475

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 2,080 $375,080,000 $180,327
WARREN-TROY-FARMINGTON HILLS, MI 1,188 $351,880,000 $296,195
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1,589 $335,095,000 $210,884
CHICAGO-NAPERVILLE-EVANSTON, IL 998 $320,140,000 $320,782
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,465 $225,625,000 $154,010
PHOENIX-MESA-CHANDLER, AZ 671 $160,855,000 $239,724
DENVER-AURORA-LAKEWOOD, CO 548 $125,600,000 $229,197
GRAND RAPIDS-KENTWOOD, MI 529 $125,025,000 $236,342
OAKLAND-BERKELEY-LIVERMORE, CA 678 $100,040,000 $147,552
ANAHEIM-SANTA ANA-IRVINE, CA 640 $92,700,000 $144,844
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 549 $77,315,000 $140,829
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 454 $75,350,000 $165,969
CINCINNATI, OH-KY-IN 305 $73,775,000 $241,885
DETROIT-DEARBORN-LIVONIA, MI 322 $71,330,000 $221,522
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 707 $67,245,000 $95,113
SACRAMENTO-ROSEVILLE-FOLSOM, CA 646 $66,110,000 $102,337
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 622 $65,280,000 $104,952
SEATTLE-BELLEVUE-KENT, WA 447 $61,895,000 $138,468
COLORADO SPRINGS, CO 58 $48,260,000 $832,069
MIAMI-MIAMI BEACH-KENDALL, FL 371 $47,735,000 $128,666
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 220 $44,430,000 $201,955
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 294 $44,300,000 $150,680
MADISON, WI 6 $43,970,000 $7,328,333
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 326 $43,200,000 $132,515
ANN ARBOR, MI 118 $42,690,000 $361,780
LAS VEGAS-HENDERSON-PARADISE, NV 373 $41,015,000 $109,960
KANSAS CITY, MO-KS 52 $33,700,000 $648,077
CAPE CORAL-FORT MYERS, FL 27 $32,635,000 $1,208,704
FARGO, ND-MN 133 $29,585,000 $222,444
ELGIN, IL 72 $27,530,000 $382,361
DALLAS-PLANO-IRVING, TX 2 $27,450,000 $13,725,000
FLINT, MI 136 $26,720,000 $196,471
MILWAUKEE-WAUKESHA, WI 86 $24,850,000 $288,953
OXNARD-THOUSAND OAKS-VENTURA, CA 182 $24,060,000 $132,198
DAYTON-KETTERING, OH 110 $23,340,000 $212,182
SALT LAKE CITY, UT 176 $21,710,000 $123,352
CLEVELAND-ELYRIA, OH 119 $21,155,000 $177,773
BISMARCK, ND 75 $19,255,000 $256,733
DULUTH, MN-WI 12 $18,560,000 $1,546,667
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 155 $16,955,000 $109,387
SANTA MARIA-SANTA BARBARA, CA 84 $16,430,000 $195,595
STOCKTON, CA 175 $16,145,000 $92,257
PROVO-OREM, UT 142 $16,030,000 $112,887
SAN RAFAEL, CA 95 $16,015,000 $168,579
NEWARK, NJ-PA 117 $15,795,000 $135,000
VALLEJO, CA 146 $14,200,000 $97,260
NASSAU COUNTY-SUFFOLK COUNTY, NY 103 $13,965,000 $135,583
ALBUQUERQUE, NM 10 $13,900,000 $1,390,000
GRAND FORKS, ND-MN 69 $13,365,000 $193,696
NEW BRUNSWICK-LAKEWOOD, NJ 124 $12,100,000 $97,581
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 86 $12,020,000 $139,767
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 143 $11,945,000 $83,531
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 97 $11,605,000 $119,639
CHAMPAIGN-URBANA, IL 4 $11,400,000 $2,850,000
SANTA CRUZ-WATSONVILLE, CA 69 $11,315,000 $163,986
MIDLAND, MI 66 $11,010,000 $166,818
RENO, NV 90 $10,860,000 $120,667
BRIDGEPORT-STAMFORD-NORWALK, CT 81 $10,855,000 $134,012
KALAMAZOO-PORTAGE, MI 51 $10,765,000 $211,078
LAKE COUNTY-KENOSHA COUNTY, IL-WI 101 $10,665,000 $105,594
TAMPA-ST. PETERSBURG-CLEARWATER, FL 93 $10,635,000 $114,355
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 80 $10,610,000 $132,625
SANTA ROSA-PETALUMA, CA 81 $10,335,000 $127,593
LANSING-EAST LANSING, MI 47 $9,475,000 $201,596
MEMPHIS, TN-MS-AR 44 $9,310,000 $211,591
NILES, MI 65 $9,045,000 $139,154
JACKSONVILLE, FL 34 $8,800,000 $258,824
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 103 $8,595,000 $83,447
INDIANAPOLIS-CARMEL-ANDERSON, IN 80 $8,590,000 $107,375
OGDEN-CLEARFIELD, UT 83 $8,525,000 $102,711
ORLANDO-KISSIMMEE-SANFORD, FL 93 $8,275,000 $88,978
MUSKEGON, MI 29 $8,235,000 $283,966
SAN LUIS OBISPO-PASO ROBLES, CA 74 $8,220,000 $111,081
BOSTON, MA 73 $8,165,000 $111,849
TACOMA-LAKEWOOD, WA 74 $7,510,000 $101,486
FRESNO, CA 71 $7,025,000 $98,944
COLUMBUS, OH 43 $6,785,000 $157,791
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 36 $6,620,000 $183,889
SALINAS, CA 52 $6,520,000 $125,385
TUCSON, AZ 60 $6,430,000 $107,167
AKRON, OH 30 $6,330,000 $211,000
BATTLE CREEK, MI 66 $6,200,000 $93,939
BOISE CITY, ID 64 $5,720,000 $89,375
BREMERTON-SILVERDALE-PORT ORCHARD, WA 45 $5,245,000 $116,556
BOULDER, CO 37 $5,235,000 $141,486
GREELEY, CO 60 $5,040,000 $84,000
ST. LOUIS, MO-IL 57 $4,975,000 $87,281
SAGINAW, MI 38 $4,790,000 $126,053
BELLINGHAM, WA 50 $4,660,000 $93,200
BAY CITY, MI 46 $4,630,000 $100,652
NAPA, CA 37 $4,445,000 $120,135
ST. GEORGE, UT 30 $4,420,000 $147,333
PORT ST. LUCIE, FL 38 $4,230,000 $111,316
PHILADELPHIA, PA 39 $4,095,000 $105,000
SALEM, OR 31 $3,785,000 $122,097
CHARLOTTE-CONCORD-GASTONIA, NC-SC 32 $3,760,000 $117,500
NORTH PORT-SARASOTA-BRADENTON, FL 30 $3,700,000 $123,333
BEND, OR 36 $3,650,000 $101,389
PROVIDENCE-WARWICK, RI-MA 46 $3,450,000 $75,000
VISALIA, CA 33 $3,325,000 $100,758
BALTIMORE-COLUMBIA-TOWSON, MD 30 $3,230,000 $107,667
KNOXVILLE, TN 14 $3,220,000 $230,000
PRESCOTT VALLEY-PRESCOTT, AZ 28 $3,220,000 $115,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 24 $3,210,000 $133,750
MODESTO, CA 46 $3,200,000 $69,565
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 27 $3,175,000 $117,593
JACKSON, MI 20 $3,150,000 $157,500
NEW HAVEN-MILFORD, CT 21 $3,075,000 $146,429
NAPLES-MARCO ISLAND, FL 19 $2,995,000 $157,632
BAKERSFIELD, CA 34 $2,870,000 $84,412
FLAGSTAFF, AZ 25 $2,855,000 $114,200
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 24 $2,700,000 $112,500
EUGENE-SPRINGFIELD, OR 34 $2,690,000 $79,118
BARNSTABLE TOWN, MA 21 $2,635,000 $125,476
CHICO, CA 25 $2,595,000 $103,800
MANKATO, MN 24 $2,580,000 $107,500
RACINE, WI 25 $2,575,000 $103,000
MEDFORD, OR 18 $2,230,000 $123,889
SOUTH BEND-MISHAWAKA, IN-MI 20 $2,210,000 $110,500
TOLEDO, OH 5 $2,205,000 $441,000
REDDING, CA 26 $2,200,000 $84,615
WORCESTER, MA-CT 24 $2,100,000 $87,500
PITTSBURGH, PA 16 $2,100,000 $131,250
FORT COLLINS, CO 18 $2,070,000 $115,000
ASHEVILLE, NC 10 $2,040,000 $204,000
SIOUX FALLS, SD 20 $2,020,000 $101,000
KENNEWICK-RICHLAND, WA 21 $1,915,000 $91,190
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 20 $1,910,000 $95,500
CAMDEN, NJ 21 $1,845,000 $87,857
OLYMPIA-LACEY-TUMWATER, WA 16 $1,800,000 $112,500
CORVALLIS, OR 12 $1,800,000 $150,000
GARY, IN 20 $1,780,000 $89,000
RALEIGH-CARY, NC 18 $1,730,000 $96,111
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 15 $1,715,000 $114,333
MONROE, MI 11 $1,705,000 $155,000
ST. CLOUD, MN 13 $1,665,000 $128,077
COEUR D'ALENE, ID 15 $1,595,000 $106,333
CHARLESTON-NORTH CHARLESTON, SC 14 $1,590,000 $113,571
WENATCHEE, WA 11 $1,525,000 $138,636
SPOKANE-SPOKANE VALLEY, WA 17 $1,455,000 $85,588
PALM BAY-MELBOURNE-TITUSVILLE, FL 15 $1,455,000 $97,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 12 $1,320,000 $110,000
HUNTSVILLE, AL 14 $1,260,000 $90,000
YUBA CITY, CA 17 $1,235,000 $72,647
MANCHESTER-NASHUA, NH 13 $1,215,000 $93,462
SALISBURY, MD-DE 8 $1,200,000 $150,000
HILTON HEAD ISLAND-BLUFFTON, SC 3 $1,135,000 $378,333
BIRMINGHAM-HOOVER, AL 15 $1,105,000 $73,667
MOUNT VERNON-ANACORTES, WA 14 $1,100,000 $78,571
SANTA FE, NM 9 $1,075,000 $119,444
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 11 $985,000 $89,545
YAKIMA, WA 9 $955,000 $106,111
PORTLAND-SOUTH PORTLAND, ME 8 $950,000 $118,750
LAKE HAVASU CITY-KINGMAN, AZ 11 $915,000 $83,182
TRENTON-PRINCETON, NJ 9 $905,000 $100,556
SAVANNAH, GA 6 $900,000 $150,000
BOWLING GREEN, KY 1 $895,000 $895,000
MERCED, CA 12 $890,000 $74,167
MISSOULA, MT 8 $870,000 $108,750
MADERA, CA 9 $785,000 $87,222
RICHMOND, VA 9 $755,000 $83,889
PUNTA GORDA, FL 7 $745,000 $106,429
GRAND JUNCTION, CO 8 $740,000 $92,500
CARSON CITY, NV 10 $710,000 $71,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 6 $700,000 $116,667
OMAHA-COUNCIL BLUFFS, NE-IA 7 $685,000 $97,857
BLOOMINGTON, IN 1 $685,000 $685,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 9 $675,000 $75,000
ROCHESTER, MN 3 $665,000 $221,667
OCALA, FL 4 $630,000 $157,500
LONGVIEW, WA 9 $585,000 $65,000
LOGAN, UT-ID 6 $560,000 $93,333
SPRINGFIELD, OH 2 $550,000 $275,000
ATLANTIC CITY-HAMMONTON, NJ 4 $540,000 $135,000
CANTON-MASSILLON, OH 6 $540,000 $90,000
CHEYENNE, WY 5 $535,000 $107,000
ALBANY-LEBANON, OR 6 $520,000 $86,667
DURHAM-CHAPEL HILL, NC 6 $500,000 $83,333
MONTGOMERY, AL 8 $490,000 $61,250
PUEBLO, CO 4 $470,000 $117,500
ROCKFORD, IL 5 $465,000 $93,000
EL CENTRO, CA 5 $425,000 $85,000
GETTYSBURG, PA 1 $415,000 $415,000
ERIE, PA 1 $375,000 $375,000
WAUSAU-WESTON, WI 4 $370,000 $92,500
LEXINGTON-FAYETTE, KY 2 $360,000 $180,000
OCEAN CITY, NJ 2 $360,000 $180,000
HARRISBURG-CARLISLE, PA 3 $355,000 $118,333
BRUNSWICK, GA 2 $350,000 $175,000
GREENSBORO-HIGH POINT, NC 2 $350,000 $175,000
YUMA, AZ 1 $325,000 $325,000
SEBASTIAN-VERO BEACH, FL 4 $310,000 $77,500
DAPHNE-FAIRHOPE-FOLEY, AL 1 $305,000 $305,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 5 $285,000 $57,000
ELKHART-GOSHEN, IN 4 $280,000 $70,000
WARNER ROBINS, GA 2 $280,000 $140,000
CARBONDALE-MARION, IL 1 $275,000 $275,000
GREEN BAY, WI 5 $275,000 $55,000
CAPE GIRARDEAU, MO-IL 2 $270,000 $135,000
GRANTS PASS, OR 3 $265,000 $88,333
AUGUSTA-RICHMOND COUNTY, GA-SC 2 $260,000 $130,000
EAU CLAIRE, WI 2 $260,000 $130,000
WILMINGTON, DE-MD-NJ 4 $260,000 $65,000
WHEELING, WV-OH 1 $255,000 $255,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 2 $250,000 $125,000
OKLAHOMA CITY, OK 2 $250,000 $125,000
ELIZABETHTOWN-FORT KNOX, KY 1 $245,000 $245,000
MUNCIE, IN 4 $240,000 $60,000
LAFAYETTE-WEST LAFAYETTE, IN 2 $240,000 $120,000
THE VILLAGES, FL 1 $235,000 $235,000
WILMINGTON, NC 3 $225,000 $75,000
GAINESVILLE, FL 2 $220,000 $110,000
PANAMA CITY, FL 4 $210,000 $52,500
APPLETON, WI 2 $210,000 $105,000
CHATTANOOGA, TN-GA 4 $210,000 $52,500
WALLA WALLA, WA 3 $205,000 $68,333
SPRINGFIELD, MA 1 $205,000 $205,000
KANKAKEE, IL 2 $190,000 $95,000
YORK-HANOVER, PA 1 $175,000 $175,000
GREENVILLE-ANDERSON, SC 4 $170,000 $42,500
DES MOINES-WEST DES MOINES, IA 2 $160,000 $80,000
EVANSVILLE, IN-KY 2 $160,000 $80,000
GAINESVILLE, GA 1 $155,000 $155,000
DOVER, DE 2 $150,000 $75,000
OSHKOSH-NEENAH, WI 3 $145,000 $48,333
ALBANY-SCHENECTADY-TROY, NY 3 $145,000 $48,333
LIMA, OH 1 $145,000 $145,000
NORWICH-NEW LONDON, CT 2 $140,000 $70,000
READING, PA 3 $135,000 $45,000
BLOOMINGTON, IL 1 $135,000 $135,000
TALLAHASSEE, FL 4 $120,000 $30,000
PENSACOLA-FERRY PASS-BRENT, FL 2 $120,000 $60,000
LAKELAND-WINTER HAVEN, FL 4 $120,000 $30,000
BUFFALO-CHEEKTOWAGA, NY 1 $115,000 $115,000
HANFORD-CORCORAN, CA 2 $110,000 $55,000
MICHIGAN CITY-LA PORTE, IN 1 $105,000 $105,000
BURLINGTON-SOUTH BURLINGTON, VT 1 $105,000 $105,000
BURLINGTON, NC 3 $105,000 $35,000
JANESVILLE-BELOIT, WI 1 $105,000 $105,000
CLEVELAND, TN 2 $100,000 $50,000
TWIN FALLS, ID 2 $100,000 $50,000
COLUMBIA, SC 3 $95,000 $31,667
TUSCALOOSA, AL 1 $95,000 $95,000
KINGSTON, NY 2 $90,000 $45,000
POCATELLO, ID 2 $90,000 $45,000
LYNCHBURG, VA 2 $90,000 $45,000
GULFPORT-BILOXI, MS 1 $75,000 $75,000
HOT SPRINGS, AR 2 $70,000 $35,000
FOND DU LAC, WI 2 $70,000 $35,000
ATHENS-CLARKE COUNTY, GA 2 $70,000 $35,000
MACON-BIBB COUNTY, GA 1 $65,000 $65,000
LANCASTER, PA 1 $65,000 $65,000
BANGOR, ME 1 $55,000 $55,000
FARMINGTON, NM 1 $55,000 $55,000
FAYETTEVILLE, NC 1 $55,000 $55,000
JOPLIN, MO 1 $45,000 $45,000
LAWRENCE, KS 1 $45,000 $45,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $45,000 $45,000
SCRANTON--WILKES-BARRE, PA 1 $35,000 $35,000
VINELAND-BRIDGETON, NJ 1 $35,000 $35,000
SEBRING-AVON PARK, FL 1 $35,000 $35,000
PEORIA, IL 1 $35,000 $35,000
WICHITA, KS 1 $35,000 $35,000
SPARTANBURG, SC 1 $35,000 $35,000
MORRISTOWN, TN 1 $35,000 $35,000
BLOOMSBURG-BERWICK, PA 1 $25,000 $25,000
SUMTER, SC 1 $25,000 $25,000
ROME, GA 1 $25,000 $25,000
COLUMBIA, MO 1 $25,000 $25,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $15,000 $15,000
JOHNSON CITY, TN 1 $15,000 $15,000
HOMOSASSA SPRINGS, FL 1 $15,000 $15,000
CUMBERLAND, MD-WV 1 $15,000 $15,000
BILLINGS, MT 1 $15,000 $15,000
RAPID CITY, SD 1 $5,000 $5,000

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% 1 $105,000 $105,000
2.5-3% 55 $21,185,000 $385,182
3-4% 3,742 $1,105,270,000 $295,369
4-5% 3,720 $1,093,360,000 $293,914
5-6% 6,913 $1,009,005,000 $145,958
6-7% 8,126 $887,320,000 $109,195
7-8% 278 $17,660,000 $63,525
Over 8% 43 $1,355,000 $31,512

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 10,944 $590,630,000 $53,968
$100k-200k 6,707 $951,035,000 $141,797
$200k-400k 4,227 $1,134,705,000 $268,442
$400k-600k 703 $329,225,000 $468,314
$600k-1000k 181 $137,705,000 $760,801
$Over $1MM 125 $992,015,000 $7,936,120

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% 4,308 $1,013,520,000 $235,265
40-60% 1,210 $525,590,000 $434,372
60-80% 2,511 $893,365,000 $355,781
80-100% 2,672 $680,530,000 $254,689
Over 100% 40 $10,680,000 $267,000
Under 20% 12,141 $1,010,295,000 $83,213

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 4,665 $552,045,000 $118,338
$150k-250k 6,469 $918,255,000 $141,947
$50k-75k 2,616 $282,470,000 $107,978
$50k-or less 1,892 $169,620,000 $89,651
$75k-100k 2,621 $285,365,000 $108,876
$Over $250k 4,238 $963,400,000 $227,324

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 17,837 $2,533,125,000 $142,015
Not applicable 92 $917,060,000 $9,968,043
Not provided 2,763 $391,335,000 $141,634
Asian 1,303 $189,795,000 $145,660
Black 674 $73,860,000 $109,585
Asian Indian 56 $9,830,000 $175,536
American Indian 77 $8,575,000 $111,364
Native Hawaiian 45 $5,915,000 $131,444
Other Asian 9 $1,275,000 $141,667
Korean 4 $1,170,000 $292,500
Filipino 10 $1,170,000 $117,000
Japanese 4 $860,000 $215,000
Other Pacific Islander 4 $470,000 $117,500
Vietnamese 3 $415,000 $138,333
Chinese 4 $310,000 $77,500
Native Hawiian 2 $150,000 $75,000

Approval Rates

Total approvals of all applications
90.34%

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
80.76%

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 22,887 $4,135,315,000 $180,684

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,407 $654,935,000 $192,232
$1k-2k 2,475 $522,795,000 $211,230
$2k-3k 379 $90,755,000 $239,459
$3k-4k 227 $57,445,000 $253,062
$5k+ 50 $14,970,000 $299,400

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
Multifamily:Manufactured 2 $1,010,000 $505,000
Multifamily:Site-Built 75 $912,075,000 $12,161,000
Single Family (1-4 Units):Manufactured 101 $9,125,000 $90,347
Single Family (1-4 Units):Site-Built 22,709 $3,213,105,000 $141,490