North American Banking Company Mortgage Rates, Fees & Info
Minneapolis, MNLEI: 549300IDUXOP6HUDV878
Tax ID: 41-1913560
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Mortgage Data
Review & Overview
North American Banking Company is a smaller bank specializing in Home Purchase and Refi loans. North American Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Willmar, Phoenix, Cape Coral, and Miami among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)North American Banking Company 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.
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Originations
45Origination Dollar Volume (All Markets)
$10,675,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 37 | $6,835,000 | $184,730 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $1,255,000 | $1,255,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $10,675,000 | $237,222 | $0 | 0.00% |
For 2019, North American Banking Company's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
For 2019, North American Banking Company's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 45 | $10,675,000 | $237,222 | $0 | 0.00% |
For 2019, North American Banking Company's most frequently cited loan duration was Other, with 45 originations.
Loan Sizing
2019 saw North American Banking Company place emphasis on $100,000 or less loans with 14 originations, totaling $830,000 in origination value.
Applicant Income
North American Banking Company lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 45 | $10,675,000 | $237,222 | $0 | 0.00% |
North American Banking Company lent most frequently to those with DTI ratios of Exempt%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.87%
North American Banking Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.78%
North American Banking Company 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 | 45 | $10,675,000 | $237,222 |