Bank Of Wolcott Mortgage Rates, Fees & Info
Wolcott, INLEI: 549300HTZK86GTZ3J496
Tax ID: 35-0786722
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Bank Of Wolcott is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Wolcott has a high proportion of conventional loans. Their top two markets are Lafayette and Chicago .Bank Of Wolcott has an above average approval rate when compared to the average across all lenders. They have an above 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
43Origination Dollar Volume (All Markets)
$3,855,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 21 | $1,925,000 | $91,667 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 11 | $1,205,000 | $109,545 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $725,000 | $65,909 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 43 | $3,855,000 | $89,651 | $0 | 0.00% |
For 2019, Bank Of Wolcott's most frequently originated type of loan was Conventional, with 43 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 21 | $1,505,000 | $71,667 | $0 | 0.00% |
| Home Purchase | 18 | $1,900,000 | $105,556 | $0 | 0.00% |
| Home Improvement | 4 | $450,000 | $112,500 | $0 | 0.00% |
For 2019, Bank Of Wolcott's most frequently cited loan purpose was Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 43 | $3,855,000 | $89,651 | $0 | 0.00% |
For 2019, Bank Of Wolcott's most frequently cited loan duration was Other, with 43 originations.
Loan Sizing
2019 saw Bank Of Wolcott place emphasis on $100,000 or less loans with 29 originations, totaling $1,665,000 in origination value.
Applicant Income
Bank Of Wolcott lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 43 | $3,855,000 | $89,651 | $0 | 0.00% |
Bank Of Wolcott lent most frequently to those with DTI ratios of Exempt%, with 43 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 34 | $3,210,000 | $94,412 | $0 | 0.00% |
| Not applicable | 9 | $645,000 | $71,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.87%
Bank Of Wolcott has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.35%
Bank Of Wolcott has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 43 | $3,855,000 | $89,651 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 7 | $535,000 | $76,429 |
| Single Family (1-4 Units):Site-Built | 36 | $3,320,000 | $92,222 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 14.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 42.9% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |