Security Bank Mortgage Rates, Fees & Info

New Auburn, WI

LEI: 549300IPFYHYZ3L7UL18

Tax ID: 39-0147940

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
  • Complaints
  • 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

    Security Bank is a smaller bank specializing in Home Purchase and Refi loans. Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Menomonie, Cape Coral, Minneapolis, and Duluth among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Security Bank 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.

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    Originations

    94

    Origination Dollar Volume (All Markets)

    $17,830,000

    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
    EAU CLAIRE, WI (FHA|USDA|VA) 51 $9,635,000 $188,922 $0 0.00%
    Outside of Metro Areas 30 $5,440,000 $181,333 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 9 $1,435,000 $159,444 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $380,000 $190,000 $0 0.00%
    Security Bank's top markets include Eau Claire, Menomonie, Cape Coral, Minneapolis, and Duluth among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 94 $17,830,000 $189,681 $0 0.00%

    For 2022, Security Bank's most frequently originated type of loan was Conventional, with 94 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $11,515,000 $202,018 $0 0.00%
    Refi 22 $3,760,000 $170,909 $0 0.00%
    Cash Out Refi 14 $2,450,000 $175,000 $0 0.00%
    Home Improvement 1 $105,000 $105,000 $0 0.00%

    For 2022, Security Bank's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 94 $17,830,000 $189,681 $0 0.00%

    For 2022, Security Bank's most frequently cited loan duration was Other, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 43 $6,315,000 $146,860 $0 0.00%
    $200k-400k 28 $7,670,000 $273,929 $0 0.00%
    $100,000 or less 18 $1,160,000 $64,444 $0 0.00%
    $400k-600k 4 $1,880,000 $470,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2022 saw Security Bank place emphasis on $100k-200k loans with 43 originations, totaling $6,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 30 $5,230,000 $174,333 $0 0.00%
    $75k-100k 18 $3,460,000 $192,222 $0 0.00%
    $50k or less 16 $1,860,000 $116,250 $0 0.00%
    $100k-150k 8 $1,730,000 $216,250 $0 0.00%
    $150k-250k 5 $1,275,000 $255,000 $0 0.00%
    $250k+ 4 $1,500,000 $375,000 $0 0.00%

    Security Bank lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 94 $17,830,000 $189,681 $0 0.00%

    Security Bank lent most frequently to those with DTI ratios of Exempt%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 83 $14,945,000 $180,060 $0 0.00%
    Not applicable 5 $1,395,000 $279,000 $0 0.00%
    Not provided 5 $1,255,000 $251,000 $0 0.00%
    Black 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.46%

    Security Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.62%

    Security Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 94 $17,830,000 $189,681

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    94 $17,830,000 $189,681

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 100.0%