Charles Schwab Bank

Henderson, NV 89074

LEI: 549300INFJ8TYNZ1G568

Tax ID: 42-1558009

2019 Data | 2018 Data


Overview

Charles Schwab Bank is a small mortgage company specializing in Home Purchase and Refi loans. Charles Schwab Bank has a high proportion of conventional loans. Their top markets include Los Angeles, San Francisco, Oakland, San Jose, and Anaheim among others. They have an above average approval rate for mortages when compared nationally -- and they have an above average pick rate when compared to the same sample of other lendors. Charles Schwab Bank is typically a low fee lendor.


Originations

5,299

Origination Dollar Volume (All Markets)

$3,694,845,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 5,299 $3,694,845,000 $697,272

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 1,315 $933,085,000 $709,570
Home Improvement 89 $38,325,000 $430,618
Other 225 $102,445,000 $455,311
Refi 2,713 $1,990,105,000 $733,544
Cash Out Refi 957 $630,885,000 $659,232

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 320 $297,720,000 $930,375
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 296 $261,190,000 $882,399
OAKLAND-BERKELEY-LIVERMORE, CA 299 $215,955,000 $722,258
Outside of Metro Areas 334 $208,010,000 $622,784
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 227 $186,785,000 $822,841
ANAHEIM-SANTA ANA-IRVINE, CA 230 $184,610,000 $802,652
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 203 $156,725,000 $772,044
SEATTLE-BELLEVUE-KENT, WA 160 $124,970,000 $781,063
PHOENIX-MESA-CHANDLER, AZ 174 $113,040,000 $649,655
DENVER-AURORA-LAKEWOOD, CO 149 $94,505,000 $634,262
SAN RAFAEL, CA 114 $94,310,000 $827,281
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 122 $73,550,000 $602,869
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 89 $71,265,000 $800,730
CHICAGO-NAPERVILLE-EVANSTON, IL 111 $68,335,000 $615,631
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 80 $59,330,000 $741,625
DALLAS-PLANO-IRVING, TX 66 $51,520,000 $780,606
SACRAMENTO-ROSEVILLE-FOLSOM, CA 79 $48,475,000 $613,608
BRIDGEPORT-STAMFORD-NORWALK, CT 64 $47,480,000 $741,875
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 88 $47,330,000 $537,841
SANTA MARIA-SANTA BARBARA, CA 49 $41,385,000 $844,592
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 56 $37,670,000 $672,679
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 52 $37,630,000 $723,654
AUSTIN-ROUND ROCK-GEORGETOWN, TX 55 $35,935,000 $653,364
NAPLES-MARCO ISLAND, FL 36 $33,610,000 $933,611
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 48 $33,320,000 $694,167
SANTA ROSA-PETALUMA, CA 43 $32,715,000 $760,814
LAS VEGAS-HENDERSON-PARADISE, NV 61 $30,685,000 $503,033
RENO, NV 45 $29,755,000 $661,222
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 36 $29,480,000 $818,889
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 57 $29,405,000 $515,877
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 52 $28,610,000 $550,192
BOSTON, MA 32 $27,400,000 $856,250
BOULDER, CO 34 $24,440,000 $718,824
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 29 $24,385,000 $840,862
NEW BRUNSWICK-LAKEWOOD, NJ 43 $23,755,000 $552,442
SANTA CRUZ-WATSONVILLE, CA 24 $22,850,000 $952,083
SALINAS, CA 29 $22,605,000 $779,483
CHARLESTON-NORTH CHARLESTON, SC 25 $22,125,000 $885,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 33 $22,085,000 $669,242
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 43 $21,595,000 $502,209
CAPE CORAL-FORT MYERS, FL 34 $21,040,000 $618,824
MIAMI-MIAMI BEACH-KENDALL, FL 25 $19,515,000 $780,600
TAMPA-ST. PETERSBURG-CLEARWATER, FL 37 $19,275,000 $520,946
OCEAN CITY, NJ 22 $18,100,000 $822,727
JACKSONVILLE, FL 34 $17,840,000 $524,706
OXNARD-THOUSAND OAKS-VENTURA, CA 26 $17,720,000 $681,538
WARREN-TROY-FARMINGTON HILLS, MI 25 $15,805,000 $632,200
NORTH PORT-SARASOTA-BRADENTON, FL 27 $15,635,000 $579,074
LAKE COUNTY-KENOSHA COUNTY, IL-WI 30 $15,430,000 $514,333
NAPA, CA 19 $15,365,000 $808,684
NEWARK, NJ-PA 31 $15,085,000 $486,613
ST. LOUIS, MO-IL 22 $14,550,000 $661,364
BALTIMORE-COLUMBIA-TOWSON, MD 26 $14,430,000 $555,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 26 $14,310,000 $550,385
BEND, OR 25 $13,255,000 $530,200
FORT WORTH-ARLINGTON-GRAPEVINE, TX 19 $12,935,000 $680,789
SANTA FE, NM 18 $12,090,000 $671,667
MILWAUKEE-WAUKESHA, WI 18 $11,840,000 $657,778
PHILADELPHIA, PA 18 $11,750,000 $652,778
ORLANDO-KISSIMMEE-SANFORD, FL 22 $11,680,000 $530,909
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 18 $11,080,000 $615,556
SAN LUIS OBISPO-PASO ROBLES, CA 14 $10,190,000 $727,857
TUCSON, AZ 23 $9,875,000 $429,348
HILTON HEAD ISLAND-BLUFFTON, SC 17 $9,675,000 $569,118
RALEIGH-CARY, NC 15 $9,545,000 $636,333
PORT ST. LUCIE, FL 19 $9,265,000 $487,632
SEBASTIAN-VERO BEACH, FL 11 $9,265,000 $842,273
NASSAU COUNTY-SUFFOLK COUNTY, NY 14 $8,820,000 $630,000
KANSAS CITY, MO-KS 15 $8,595,000 $573,000
SALT LAKE CITY, UT 10 $8,040,000 $804,000
DURHAM-CHAPEL HILL, NC 13 $7,995,000 $615,000
TRENTON-PRINCETON, NJ 12 $7,860,000 $655,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 11 $7,425,000 $675,000
KAHULUI-WAILUKU-LAHAINA, HI 10 $7,400,000 $740,000
PORTLAND-SOUTH PORTLAND, ME 15 $7,285,000 $485,667
COLORADO SPRINGS, CO 12 $6,670,000 $555,833
PITTSBURGH, PA 11 $6,585,000 $598,636
PRESCOTT VALLEY-PRESCOTT, AZ 16 $6,540,000 $408,750
BOISE CITY, ID 13 $6,255,000 $481,154
LOUISVILLE/JEFFERSON COUNTY, KY-IN 11 $6,115,000 $555,909
SAVANNAH, GA 9 $6,095,000 $677,222
PROVIDENCE-WARWICK, RI-MA 11 $5,825,000 $529,545
BARNSTABLE TOWN, MA 10 $5,730,000 $573,000
WILMINGTON, NC 10 $5,520,000 $552,000
RICHMOND, VA 9 $5,305,000 $589,444
KNOXVILLE, TN 7 $4,915,000 $702,143
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 8 $4,660,000 $582,500
ASHEVILLE, NC 9 $4,595,000 $510,556
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 10 $4,370,000 $437,000
SAN ANTONIO-NEW BRAUNFELS, TX 7 $4,295,000 $613,571
URBAN HONOLULU, HI 6 $4,220,000 $703,333
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 6 $4,040,000 $673,333
FORT COLLINS, CO 10 $3,840,000 $384,000
WILMINGTON, DE-MD-NJ 8 $3,730,000 $466,250
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 5 $3,395,000 $679,000
ALBUQUERQUE, NM 8 $3,370,000 $421,250
BIRMINGHAM-HOOVER, AL 8 $3,350,000 $418,750
COEUR D'ALENE, ID 4 $3,300,000 $825,000
CLEVELAND-ELYRIA, OH 7 $3,265,000 $466,429
SALISBURY, MD-DE 7 $3,255,000 $465,000
BRUNSWICK, GA 4 $3,240,000 $810,000
ATLANTIC CITY-HAMMONTON, NJ 4 $2,990,000 $747,500
CINCINNATI, OH-KY-IN 9 $2,965,000 $329,444
MEDFORD, OR 6 $2,870,000 $478,333
WORCESTER, MA-CT 6 $2,800,000 $466,667
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 4 $2,690,000 $672,500
MADISON, WI 5 $2,535,000 $507,000
MICHIGAN CITY-LA PORTE, IN 2 $2,470,000 $1,235,000
MEMPHIS, TN-MS-AR 4 $2,380,000 $595,000
NILES, MI 2 $2,370,000 $1,185,000
BURLINGTON-SOUTH BURLINGTON, VT 4 $2,360,000 $590,000
FLAGSTAFF, AZ 5 $2,345,000 $469,000
GRAND RAPIDS-KENTWOOD, MI 5 $2,335,000 $467,000
COLUMBUS, OH 5 $2,255,000 $451,000
OMAHA-COUNCIL BLUFFS, NE-IA 5 $2,155,000 $431,000
GREELEY, CO 5 $2,115,000 $423,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 5 $2,085,000 $417,000
NEW ORLEANS-METAIRIE, LA 4 $2,060,000 $515,000
CHARLOTTESVILLE, VA 3 $2,035,000 $678,333
ST. GEORGE, UT 3 $2,035,000 $678,333
CAMDEN, NJ 5 $2,025,000 $405,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 4 $2,000,000 $500,000
TULSA, OK 3 $1,965,000 $655,000
OKLAHOMA CITY, OK 3 $1,945,000 $648,333
BAKERSFIELD, CA 3 $1,805,000 $601,667
WENATCHEE, WA 2 $1,770,000 $885,000
GRAND JUNCTION, CO 3 $1,765,000 $588,333
GREENVILLE-ANDERSON, SC 4 $1,740,000 $435,000
TACOMA-LAKEWOOD, WA 3 $1,705,000 $568,333
MODESTO, CA 4 $1,660,000 $415,000
DAPHNE-FAIRHOPE-FOLEY, AL 3 $1,635,000 $545,000
DES MOINES-WEST DES MOINES, IA 3 $1,605,000 $535,000
VALLEJO, CA 3 $1,595,000 $531,667
PALM BAY-MELBOURNE-TITUSVILLE, FL 4 $1,540,000 $385,000
OLYMPIA-LACEY-TUMWATER, WA 3 $1,385,000 $461,667
MOUNT VERNON-ANACORTES, WA 2 $1,300,000 $650,000
ANN ARBOR, MI 5 $1,255,000 $251,000
LAKE HAVASU CITY-KINGMAN, AZ 3 $1,215,000 $405,000
SPARTANBURG, SC 2 $1,210,000 $605,000
PUNTA GORDA, FL 5 $1,155,000 $231,000
OGDEN-CLEARFIELD, UT 2 $1,150,000 $575,000
CALIFORNIA-LEXINGTON PARK, MD 2 $1,050,000 $525,000
PENSACOLA-FERRY PASS-BRENT, FL 2 $1,040,000 $520,000
BELLINGHAM, WA 3 $995,000 $331,667
NEW HAVEN-MILFORD, CT 3 $995,000 $331,667
DETROIT-DEARBORN-LIVONIA, MI 4 $970,000 $242,500
CANTON-MASSILLON, OH 2 $930,000 $465,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 3 $915,000 $305,000
EUGENE-SPRINGFIELD, OR 2 $880,000 $440,000
HUNTSVILLE, AL 2 $860,000 $430,000
YORK-HANOVER, PA 1 $845,000 $845,000
ALBANY-SCHENECTADY-TROY, NY 2 $770,000 $385,000
COLUMBIA, MO 1 $765,000 $765,000
AKRON, OH 3 $755,000 $251,667
STOCKTON, CA 3 $745,000 $248,333
GAINESVILLE, FL 3 $745,000 $248,333
GLENS FALLS, NY 2 $690,000 $345,000
CHICO, CA 1 $655,000 $655,000
GREENSBORO-HIGH POINT, NC 2 $650,000 $325,000
EVANSVILLE, IN-KY 1 $635,000 $635,000
HICKORY-LENOIR-MORGANTON, NC 1 $635,000 $635,000
FRESNO, CA 1 $615,000 $615,000
DOVER, DE 1 $615,000 $615,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 4 $610,000 $152,500
WICHITA, KS 2 $600,000 $300,000
COLUMBIA, SC 1 $595,000 $595,000
LAFAYETTE, LA 1 $565,000 $565,000
SHEBOYGAN, WI 1 $555,000 $555,000
LAKELAND-WINTER HAVEN, FL 2 $550,000 $275,000
FORT WAYNE, IN 1 $545,000 $545,000
LEXINGTON-FAYETTE, KY 1 $545,000 $545,000
VISALIA, CA 1 $525,000 $525,000
BLACKSBURG-CHRISTIANSBURG, VA 1 $505,000 $505,000
PROVO-OREM, UT 1 $505,000 $505,000
KILLEEN-TEMPLE, TX 1 $505,000 $505,000
SPOKANE-SPOKANE VALLEY, WA 1 $495,000 $495,000
HOUMA-THIBODAUX, LA 1 $485,000 $485,000
BLOOMINGTON, IL 1 $485,000 $485,000
NEW BERN, NC 1 $465,000 $465,000
KENNEWICK-RICHLAND, WA 1 $455,000 $455,000
GULFPORT-BILOXI, MS 1 $445,000 $445,000
THE VILLAGES, FL 2 $440,000 $220,000
LANCASTER, PA 1 $435,000 $435,000
GAINESVILLE, GA 2 $410,000 $205,000
PITTSFIELD, MA 1 $405,000 $405,000
YUBA CITY, CA 1 $385,000 $385,000
EAST STROUDSBURG, PA 1 $365,000 $365,000
STAUNTON, VA 2 $360,000 $180,000
CARSON CITY, NV 1 $355,000 $355,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $335,000 $335,000
REDDING, CA 1 $335,000 $335,000
HARRISBURG-CARLISLE, PA 1 $325,000 $325,000
BATON ROUGE, LA 1 $315,000 $315,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 1 $315,000 $315,000
LAKE CHARLES, LA 1 $315,000 $315,000
RACINE, WI 2 $310,000 $155,000
BANGOR, ME 1 $305,000 $305,000
RAPID CITY, SD 1 $295,000 $295,000
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $285,000 $95,000
BUFFALO-CHEEKTOWAGA, NY 2 $280,000 $140,000
MANKATO, MN 1 $255,000 $255,000
MANCHESTER-NASHUA, NH 2 $250,000 $125,000
PANAMA CITY, FL 1 $245,000 $245,000
SPRINGFIELD, MA 1 $225,000 $225,000
ANCHORAGE, AK 1 $225,000 $225,000
FLORENCE, SC 1 $225,000 $225,000
READING, PA 1 $205,000 $205,000
FLORENCE-MUSCLE SHOALS, AL 1 $205,000 $205,000
MERCED, CA 1 $175,000 $175,000
COLLEGE STATION-BRYAN, TX 1 $175,000 $175,000
MOBILE, AL 1 $155,000 $155,000
ROCHESTER, MN 1 $145,000 $145,000
WACO, TX 1 $135,000 $135,000
EL PASO, TX 1 $125,000 $125,000
SUMTER, SC 1 $75,000 $75,000

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% 175 $188,705,000 $1,078,314
2.5-3% 1,550 $1,315,580,000 $848,761
3-4% 2,868 $1,946,700,000 $678,766
4-5% 586 $218,010,000 $372,031
5-6% 117 $25,385,000 $216,966
6-7% 3 $465,000 $155,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 68 $4,890,000 $71,912
$100k-200k 310 $44,740,000 $144,323
$200k-400k 909 $260,835,000 $286,947
$400k-600k 1,046 $531,300,000 $507,935
$600k-1000k 2,159 $1,692,075,000 $783,731
$Over $1MM 807 $1,161,005,000 $1,438,668

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% 1,062 $680,830,000 $641,083
40-60% 1,699 $1,281,335,000 $754,170
60-80% 1,840 $1,393,990,000 $757,603
80-100% 260 $201,910,000 $776,577
Under 20% 438 $136,780,000 $312,283

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 668 $294,110,000 $440,284
$150k-250k 1,505 $947,765,000 $629,744
$50k-75k 207 $50,295,000 $242,971
$50k-or less 70 $26,170,000 $373,857
$75k-100k 253 $76,305,000 $301,601
$Over $250k 2,596 $2,300,200,000 $886,055

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 2,918 $1,914,800,000 $656,203
Not provided 2,060 $1,526,940,000 $741,233
Asian 236 $192,270,000 $814,703
Asian Indian 39 $30,165,000 $773,462
Black 21 $12,765,000 $607,857
Chinese 15 $10,895,000 $726,333
Other Pacific Islander 4 $3,010,000 $752,500
American Indian 5 $2,805,000 $561,000
Vietnamese 1 $1,195,000 $1,195,000

Approval Rates

Total approvals of all applications
96.01%

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
98.47%

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 5,299 $3,694,845,000 $697,272

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 4,482 $3,300,880,000 $736,475
$1k-2k 213 $115,175,000 $540,728
$2k-3k 120 $70,220,000 $585,167
$3k-4k 108 $68,140,000 $630,926
$5k+ 112 $83,100,000 $741,964

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):Site-Built 5,299 $3,694,845,000 $697,272