Redwood Mortgage Corp. Rates, Fees & Info

SAN MATEO, CA

LEI: 549300HIBIY0XHM03574

Tax ID: 94-2479776

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Redwood Mortgage Corp. is a smaller mortgage company specializing in Refi and Home Purchase loans. Redwood Mortgage Corp. has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, San Diego, Los Angeles, and Sacramento among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Redwood Mortgage Corp. has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    32

    Origination Dollar Volume (All Markets)

    $38,950,000

    Top 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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 16 $26,680,000 $1,667,500 $0 8.24%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $5,235,000 $747,857 $0 8.95%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $3,330,000 $1,665,000 $0 8.63%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $2,555,000 $511,000 $0 8.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $825,000 $825,000 $0 8.25%
    SALINAS, CA (FHA|USDA|VA) 1 $325,000 $325,000 $0 9.25%
    Redwood Mortgage Corp.'s top markets include San Francisco, San Jose, San Diego, Los Angeles, and Sacramento among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 32 $38,950,000 $1,217,188 $0 8.44%

    For 2018, Redwood Mortgage Corp.'s most frequently originated type of loan was Conventional, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 16 $18,860,000 $1,178,750 $0 8.51%
    Home Purchase 12 $15,570,000 $1,297,500 $0 8.31%
    Home Improvement 4 $4,520,000 $1,130,000 $0 8.56%

    For 2018, Redwood Mortgage Corp.'s most frequently cited loan purpose was Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 14 $17,700,000 $1,264,286 $0 8.14%
    Other 10 $14,530,000 $1,453,000 $0 8.56%
    3 Year 6 $5,550,000 $925,000 $0 9.00%
    5 Year 2 $1,170,000 $585,000 $0 8.08%

    For 2018, Redwood Mortgage Corp.'s most frequently cited loan duration was 1 Year, with 14 originations. The 2nd most popular length was Other, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 21 $24,835,000 $1,182,619
    7-8% 10 $13,540,000 $1,354,000

    During 2018, Redwood Mortgage Corp.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 13 $9,805,000 $754,231 $0 8.64%
    $1MM+ 10 $26,210,000 $2,621,000 $0 8.24%
    $200k-400k 8 $2,360,000 $295,000 $0 8.36%
    $400k-600k 1 $575,000 $575,000 $0 0.00%

    2018 saw Redwood Mortgage Corp. place emphasis on $600k-1MM loans with 13 originations, totaling $9,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 6 $3,640,000 $606,667 $0 8.80%
    $100k-150k 4 $1,650,000 $412,500 $0 8.56%
    $250k+ 4 $6,260,000 $1,565,000 $0 8.53%
    $50k-75k 1 $1,455,000 $1,455,000 $0 7.63%
    $50k or less 1 $1,205,000 $1,205,000 $0 7.90%
    $75k-100k 1 $2,005,000 $2,005,000 $0 8.90%

    Redwood Mortgage Corp. lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 4 $6,620,000 $1,655,000 $0 8.34%
    50-60% 3 $1,315,000 $438,333 $0 8.96%
    39% 1 $885,000 $885,000 $0 8.38%
    <20% 1 $355,000 $355,000 $0 8.50%
    47% 1 $605,000 $605,000 $0 8.50%
    44% 1 $605,000 $605,000 $0 9.50%
    30-36% 1 $325,000 $325,000 $0 8.50%

    Redwood Mortgage Corp. lent most frequently to those with DTI ratios of >60%, with 4 originations. The next most common DTI ratio? 50-60%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 12 $20,700,000 $1,725,000 $0 8.14%
    Not provided 9 $9,135,000 $1,015,000 $0 8.50%
    White 10 $8,510,000 $851,000 $0 8.61%
    Asian 1 $605,000 $605,000 $0 9.50%

    Approval Rates

    Total approvals of all applications
    76.67%

    Redwood Mortgage Corp. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -9.38%

    Redwood Mortgage Corp. 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
    NA 32 $38,950,000 $1,217,188

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $7,295,000 $1,459,000
    Single Family (1-4 Units):Site-Built 27 $31,655,000 $1,172,407

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $16,475,000 $1,098,333 $0 8.63%
    40-60% 5 $6,025,000 $1,205,000 $0 7.91%
    60-80% 7 $12,595,000 $1,799,286 $0 8.29%
    80-100% 2 $1,150,000 $575,000 $0 8.38%
    Over 100% 1 $945,000 $945,000 $0 9.00%
    Under 20% 2 $1,760,000 $880,000 $0 8.75%