Berkeley Point Capital, Llc

Boston, MA 02110

LEI: 549300HINJH60UG3KG47

Tax ID: 45-3508295

2019 Data | 2018 Data


Overview

Berkeley Point Capital, Llc is a small mortgage company specializing in Home Purchase and Cash Out Refi loans. Berkeley Point Capital, Llc has a high proportion of conventional loans. Their top markets include Denver, Houston, Atlanta, Oakland, and Washington 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. Berkeley Point Capital, Llc is typically a lendor.


Originations

165

Origination Dollar Volume (All Markets)

$3,712,325,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 165 $3,712,325,000 $22,498,939

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 88 $2,329,920,000 $26,476,364
Cash Out Refi 77 $1,382,405,000 $17,953,312

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
DENVER-AURORA-LAKEWOOD, CO 9 $354,845,000 $39,427,222
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 13 $268,095,000 $20,622,692
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 9 $198,305,000 $22,033,889
OAKLAND-BERKELEY-LIVERMORE, CA 5 $167,575,000 $33,515,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 4 $159,400,000 $39,850,000
LAS VEGAS-HENDERSON-PARADISE, NV 7 $142,815,000 $20,402,143
RICHMOND, VA 4 $138,230,000 $34,557,500
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 6 $133,720,000 $22,286,667
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4 $131,830,000 $32,957,500
OKLAHOMA CITY, OK 3 $126,705,000 $42,235,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 1 $125,005,000 $125,005,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 4 $117,850,000 $29,462,500
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 4 $110,250,000 $27,562,500
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 4 $105,870,000 $26,467,500
TULSA, OK 3 $90,705,000 $30,235,000
COLORADO SPRINGS, CO 3 $85,605,000 $28,535,000
PORTLAND-SOUTH PORTLAND, ME 4 $85,400,000 $21,350,000
JACKSON, MS 4 $83,710,000 $20,927,500
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 3 $82,955,000 $27,651,667
LOS ANGELES-LONG BEACH-GLENDALE, CA 4 $80,970,000 $20,242,500
PHOENIX-MESA-CHANDLER, AZ 3 $76,905,000 $25,635,000
JACKSONVILLE, FL 5 $70,235,000 $14,047,000
SALINAS, CA 1 $56,425,000 $56,425,000
ORLANDO-KISSIMMEE-SANFORD, FL 2 $53,590,000 $26,795,000
Outside of Metro Areas 8 $47,030,000 $5,878,750
ST. LOUIS, MO-IL 2 $46,720,000 $23,360,000
DURHAM-CHAPEL HILL, NC 2 $41,200,000 $20,600,000
ALBUQUERQUE, NM 1 $36,005,000 $36,005,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $34,235,000 $34,235,000
MEMPHIS, TN-MS-AR 2 $29,260,000 $14,630,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 1 $28,165,000 $28,165,000
LYNCHBURG, VA 3 $25,755,000 $8,585,000
ANAHEIM-SANTA ANA-IRVINE, CA 2 $24,700,000 $12,350,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $24,405,000 $24,405,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 1 $24,325,000 $24,325,000
KILLEEN-TEMPLE, TX 1 $23,505,000 $23,505,000
RALEIGH-CARY, NC 2 $22,020,000 $11,010,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $21,825,000 $21,825,000
CINCINNATI, OH-KY-IN 2 $19,060,000 $9,530,000
LEXINGTON-FAYETTE, KY 1 $19,005,000 $19,005,000
SHREVEPORT-BOSSIER CITY, LA 2 $17,880,000 $8,940,000
DALLAS-PLANO-IRVING, TX 1 $16,105,000 $16,105,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 2 $15,400,000 $7,700,000
DES MOINES-WEST DES MOINES, IA 2 $15,310,000 $7,655,000
NEW BRUNSWICK-LAKEWOOD, NJ 1 $15,005,000 $15,005,000
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 1 $13,785,000 $13,785,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1 $12,845,000 $12,845,000
HARRISONBURG, VA 1 $11,665,000 $11,665,000
COLUMBUS, OH 1 $10,385,000 $10,385,000
SAVANNAH, GA 2 $9,930,000 $4,965,000
SPARTANBURG, SC 2 $9,430,000 $4,715,000
SANTA MARIA-SANTA BARBARA, CA 1 $8,095,000 $8,095,000
TUCSON, AZ 1 $8,085,000 $8,085,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 1 $6,505,000 $6,505,000
KNOXVILLE, TN 1 $6,465,000 $6,465,000
WACO, TX 1 $5,805,000 $5,805,000
DAYTON-KETTERING, OH 1 $4,715,000 $4,715,000
BEAUMONT-PORT ARTHUR, TX 1 $4,635,000 $4,635,000
BOULDER, CO 1 $3,465,000 $3,465,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 1 $2,605,000 $2,605,000

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
3-4% 84 $2,407,290,000 $28,658,214
4-5% 58 $1,148,120,000 $19,795,172
5-6% 22 $154,410,000 $7,018,636
6-7% 1 $2,505,000 $2,505,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$Over $1MM 165 $3,712,325,000 $22,498,939

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% 2 $20,710,000 $10,355,000
40-60% 24 $691,110,000 $28,796,250
60-80% 105 $2,492,815,000 $23,741,095
80-100% 17 $406,165,000 $23,892,059
Under 20% 17 $101,525,000 $5,972,059

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

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
Not applicable 165 $3,712,325,000 $22,498,939

Approval Rates

Total approvals of all applications
100.00%

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
71.74%

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 165 $3,712,325,000 $22,498,939

Origination Fees

Origination Fee Originations Total Value Average Loan

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 1 $12,845,000 $12,845,000
Multifamily:Site-Built 164 $3,699,480,000 $22,557,805