Ruoff Home Mortgage

FORT WAYNE, IN 46804

LEI: 549300GSCUJKJINRJ980

Tax ID: 35-1616238

2019 Data | 2018 Data


Overview

Ruoff Home Mortgage is a small mortgage company specializing in Home Purchase loans. Ruoff Home Mortgage 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 Indianapolis, Fort Wayne, Bloomington, Columbus, and South Bend 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. Ruoff Home Mortgage is typically a low fee medium-low fee lendor.


Originations

16,373

Origination Dollar Volume (All Markets)

$2,761,115,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 10,515 $1,885,965,000 $179,359
FHA 3,821 $549,525,000 $143,817
VA 951 $192,165,000 $202,066
USDA 1,086 $133,460,000 $122,891

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 12,504 $2,048,960,000 $163,864
Refi 2,373 $481,535,000 $202,922
Cash Out Refi 1,496 $230,620,000 $154,158

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
INDIANAPOLIS-CARMEL-ANDERSON, IN 3,543 $706,435,000 $199,389
Outside of Metro Areas 3,116 $435,440,000 $139,743
FORT WAYNE, IN 1,941 $317,625,000 $163,640
BLOOMINGTON, IN 660 $137,910,000 $208,955
COLUMBUS, OH 673 $129,925,000 $193,053
SOUTH BEND-MISHAWAKA, IN-MI 631 $91,225,000 $144,572
CINCINNATI, OH-KY-IN 458 $89,640,000 $195,721
LAFAYETTE-WEST LAFAYETTE, IN 520 $86,710,000 $166,750
TERRE HAUTE, IN 620 $75,280,000 $121,419
ELKHART-GOSHEN, IN 387 $60,035,000 $155,129
WARREN-TROY-FARMINGTON HILLS, MI 262 $52,900,000 $201,908
LOUISVILLE/JEFFERSON COUNTY, KY-IN 289 $52,355,000 $181,159
COLUMBUS, IN 278 $50,940,000 $183,237
GARY, IN 269 $46,655,000 $173,439
EVANSVILLE, IN-KY 299 $43,965,000 $147,040
AKRON, OH 241 $34,815,000 $144,461
MUNCIE, IN 267 $32,195,000 $120,581
CLEVELAND-ELYRIA, OH 168 $28,310,000 $168,512
NILES, MI 148 $23,180,000 $156,622
KOKOMO, IN 164 $22,830,000 $139,207
ANN ARBOR, MI 94 $21,250,000 $226,064
DETROIT-DEARBORN-LIVONIA, MI 98 $19,210,000 $196,020
TOLEDO, OH 125 $17,825,000 $142,600
JACKSON, MI 115 $15,515,000 $134,913
OWENSBORO, KY 73 $11,035,000 $151,164
KALAMAZOO-PORTAGE, MI 55 $10,395,000 $189,000
MICHIGAN CITY-LA PORTE, IN 65 $9,935,000 $152,846
DAYTON-KETTERING, OH 67 $9,715,000 $145,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 23 $8,425,000 $366,304
NORTH PORT-SARASOTA-BRADENTON, FL 37 $7,155,000 $193,378
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 51 $6,655,000 $130,490
GRAND RAPIDS-KENTWOOD, MI 29 $6,125,000 $211,207
DENVER-AURORA-LAKEWOOD, CO 18 $5,660,000 $314,444
CANTON-MASSILLON, OH 28 $4,210,000 $150,357
CAPE CORAL-FORT MYERS, FL 13 $3,925,000 $301,923
TAMPA-ST. PETERSBURG-CLEARWATER, FL 25 $3,895,000 $155,800
ORLANDO-KISSIMMEE-SANFORD, FL 22 $3,670,000 $166,818
MONROE, MI 19 $3,525,000 $185,526
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 17 $3,275,000 $192,647
CHICAGO-NAPERVILLE-EVANSTON, IL 14 $3,200,000 $228,571
BOWLING GREEN, KY 16 $3,180,000 $198,750
COLUMBUS, GA-AL 13 $2,925,000 $225,000
FLINT, MI 20 $2,820,000 $141,000
LANSING-EAST LANSING, MI 18 $2,330,000 $129,444
NAPLES-MARCO ISLAND, FL 7 $2,285,000 $326,429
BATTLE CREEK, MI 12 $2,000,000 $166,667
KANSAS CITY, MO-KS 16 $1,870,000 $116,875
CHARLOTTE-CONCORD-GASTONIA, NC-SC 15 $1,595,000 $106,333
RALEIGH-CARY, NC 10 $1,510,000 $151,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 6 $1,460,000 $243,333
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 6 $1,450,000 $241,667
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 5 $1,285,000 $257,000
ST. LOUIS, MO-IL 10 $1,260,000 $126,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 5 $1,155,000 $231,000
PENSACOLA-FERRY PASS-BRENT, FL 3 $975,000 $325,000
BIRMINGHAM-HOOVER, AL 5 $965,000 $193,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 6 $960,000 $160,000
LAKELAND-WINTER HAVEN, FL 7 $935,000 $133,571
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 6 $890,000 $148,333
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 6 $870,000 $145,000
KINGSPORT-BRISTOL, TN-VA 5 $845,000 $169,000
OKLAHOMA CITY, OK 7 $835,000 $119,286
PHOENIX-MESA-CHANDLER, AZ 4 $780,000 $195,000
DES MOINES-WEST DES MOINES, IA 7 $745,000 $106,429
OCALA, FL 7 $745,000 $106,429
MANSFIELD, OH 7 $705,000 $100,714
PITTSBURGH, PA 6 $680,000 $113,333
GAINESVILLE, FL 4 $670,000 $167,500
BRIDGEPORT-STAMFORD-NORWALK, CT 2 $650,000 $325,000
KNOXVILLE, TN 4 $630,000 $157,500
PUNTA GORDA, FL 5 $625,000 $125,000
WINSTON-SALEM, NC 4 $610,000 $152,500
PHILADELPHIA, PA 3 $605,000 $201,667
AUGUSTA-RICHMOND COUNTY, GA-SC 7 $595,000 $85,000
LEXINGTON-FAYETTE, KY 3 $595,000 $198,333
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 4 $590,000 $147,500
COLUMBIA, SC 4 $590,000 $147,500
ODESSA, TX 2 $580,000 $290,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 5 $575,000 $115,000
RICHMOND, VA 4 $560,000 $140,000
JACKSONVILLE, FL 4 $550,000 $137,500
BREMERTON-SILVERDALE-PORT ORCHARD, WA 1 $545,000 $545,000
DURHAM-CHAPEL HILL, NC 2 $540,000 $270,000
MANCHESTER-NASHUA, NH 4 $530,000 $132,500
MEMPHIS, TN-MS-AR 6 $520,000 $86,667
SPRINGFIELD, OH 4 $500,000 $125,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 4 $440,000 $110,000
RENO, NV 1 $435,000 $435,000
WILMINGTON, NC 2 $430,000 $215,000
LYNCHBURG, VA 4 $410,000 $102,500
ELIZABETHTOWN-FORT KNOX, KY 3 $405,000 $135,000
SCRANTON--WILKES-BARRE, PA 4 $400,000 $100,000
TALLAHASSEE, FL 3 $395,000 $131,667
WICHITA, KS 4 $390,000 $97,500
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1 $375,000 $375,000
GREENVILLE-ANDERSON, SC 3 $375,000 $125,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 3 $375,000 $125,000
THE VILLAGES, FL 2 $370,000 $185,000
GAINESVILLE, GA 3 $355,000 $118,333
MIDLAND, MI 2 $350,000 $175,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 1 $345,000 $345,000
BALTIMORE-COLUMBIA-TOWSON, MD 1 $345,000 $345,000
SEBRING-AVON PARK, FL 3 $345,000 $115,000
TULSA, OK 3 $345,000 $115,000
HILTON HEAD ISLAND-BLUFFTON, SC 2 $320,000 $160,000
BOULDER, CO 1 $315,000 $315,000
CHARLESTON-NORTH CHARLESTON, SC 3 $305,000 $101,667
HOMOSASSA SPRINGS, FL 3 $305,000 $101,667
PORT ST. LUCIE, FL 2 $290,000 $145,000
WEIRTON-STEUBENVILLE, WV-OH 2 $290,000 $145,000
PORTLAND-SOUTH PORTLAND, ME 2 $280,000 $140,000
BAY CITY, MI 2 $260,000 $130,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $255,000 $255,000
SEATTLE-BELLEVUE-KENT, WA 1 $255,000 $255,000
SAVANNAH, GA 1 $255,000 $255,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $245,000 $245,000
GREENSBORO-HIGH POINT, NC 2 $240,000 $120,000
CHATTANOOGA, TN-GA 2 $230,000 $115,000
ROANOKE, VA 2 $230,000 $115,000
PANAMA CITY, FL 1 $225,000 $225,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $220,000 $110,000
LANCASTER, PA 2 $220,000 $110,000
JACKSON, MS 2 $210,000 $105,000
STAUNTON, VA 2 $210,000 $105,000
SAGINAW, MI 2 $210,000 $105,000
SEBASTIAN-VERO BEACH, FL 1 $205,000 $205,000
WACO, TX 1 $205,000 $205,000
ROCHESTER, MN 1 $195,000 $195,000
GETTYSBURG, PA 1 $185,000 $185,000
WARNER ROBINS, GA 1 $185,000 $185,000
ROCKFORD, IL 1 $185,000 $185,000
BOISE CITY, ID 1 $175,000 $175,000
DECATUR, AL 1 $175,000 $175,000
SIOUX FALLS, SD 1 $175,000 $175,000
DANVILLE, IL 2 $170,000 $85,000
OMAHA-COUNCIL BLUFFS, NE-IA 2 $170,000 $85,000
CEDAR RAPIDS, IA 1 $165,000 $165,000
LIMA, OH 2 $160,000 $80,000
MACON-BIBB COUNTY, GA 2 $160,000 $80,000
DAPHNE-FAIRHOPE-FOLEY, AL 1 $145,000 $145,000
BURLINGTON-SOUTH BURLINGTON, VT 1 $135,000 $135,000
CLEVELAND, TN 1 $135,000 $135,000
AMES, IA 1 $135,000 $135,000
MIAMI-MIAMI BEACH-KENDALL, FL 1 $135,000 $135,000
VALDOSTA, GA 1 $135,000 $135,000
BURLINGTON, NC 1 $125,000 $125,000
HOT SPRINGS, AR 1 $125,000 $125,000
ST. JOSEPH, MO-KS 1 $125,000 $125,000
JACKSON, TN 1 $125,000 $125,000
DALLAS-PLANO-IRVING, TX 1 $125,000 $125,000
HOUMA-THIBODAUX, LA 1 $125,000 $125,000
CHARLOTTESVILLE, VA 1 $125,000 $125,000
JOPLIN, MO 1 $115,000 $115,000
BRUNSWICK, GA 1 $115,000 $115,000
LAWTON, OK 1 $105,000 $105,000
COLUMBIA, MO 1 $105,000 $105,000
ELGIN, IL 1 $105,000 $105,000
GREELEY, CO 1 $105,000 $105,000
HINESVILLE, GA 1 $105,000 $105,000
MORRISTOWN, TN 1 $105,000 $105,000
JONESBORO, AR 1 $105,000 $105,000
MANKATO, MN 1 $105,000 $105,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $105,000 $105,000
BATON ROUGE, LA 1 $105,000 $105,000
COLORADO SPRINGS, CO 1 $95,000 $95,000
FLORENCE-MUSCLE SHOALS, AL 1 $95,000 $95,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 1 $95,000 $95,000
HARRISBURG-CARLISLE, PA 1 $95,000 $95,000
PUEBLO, CO 1 $95,000 $95,000
RACINE, WI 1 $85,000 $85,000
GULFPORT-BILOXI, MS 1 $85,000 $85,000
MOBILE, AL 1 $85,000 $85,000
ALEXANDRIA, LA 1 $85,000 $85,000
ST. CLOUD, MN 1 $85,000 $85,000
FORT SMITH, AR-OK 1 $75,000 $75,000
NEWARK, NJ-PA 1 $75,000 $75,000
CAPE GIRARDEAU, MO-IL 1 $75,000 $75,000
MONTGOMERY, AL 1 $65,000 $65,000
SPRINGFIELD, MO 1 $55,000 $55,000
DULUTH, MN-WI 1 $45,000 $45,000

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% 58 $10,880,000 $187,586
3-4% 6,867 $1,294,985,000 $188,581
4-5% 7,902 $1,260,970,000 $159,576
5-6% 1,512 $191,160,000 $126,429
6-7% 34 $3,120,000 $91,765

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,345 $259,205,000 $77,490
$100k-200k 8,495 $1,235,885,000 $145,484
$200k-400k 4,157 $1,085,845,000 $261,209
$400k-600k 344 $155,700,000 $452,616
$600k-1000k 27 $18,915,000 $700,556
$Over $1MM 5 $5,565,000 $1,113,000

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% 196 $20,170,000 $102,908
40-60% 735 $108,555,000 $147,694
60-80% 3,450 $613,610,000 $177,858
80-100% 11,692 $1,958,150,000 $167,478
Over 100% 289 $59,555,000 $206,073
Under 20% 10 $730,000 $73,000

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 2,229 $509,835,000 $228,728
$150k-250k 887 $251,155,000 $283,151
$50k-75k 4,689 $741,405,000 $158,116
$50k-or less 5,615 $642,435,000 $114,414
$75k-100k 2,516 $489,150,000 $194,416
$Over $250k 244 $85,940,000 $352,213

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 14,905 $2,503,765,000 $167,982
Black 662 $109,390,000 $165,242
Not provided 452 $83,160,000 $183,982
Asian 284 $53,210,000 $187,359
American Indian 50 $8,050,000 $161,000
Native Hawaiian 15 $2,725,000 $181,667
Asian Indian 2 $430,000 $215,000
Chinese 2 $290,000 $145,000
Other Asian 1 $95,000 $95,000

Approval Rates

Total approvals of all applications
94.71%

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
75.52%

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 16,373 $2,761,115,000 $168,638

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 8,469 $1,316,125,000 $155,405
$1k-2k 6,632 $1,231,430,000 $185,680
$2k-3k 582 $102,280,000 $175,739
$3k-4k 238 $51,240,000 $215,294
$5k+ 36 $13,090,000 $363,611

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 229 $24,245,000 $105,873
Single Family (1-4 Units):Site-Built 16,144 $2,736,870,000 $169,529