Fortis Private Bank Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300J3KQJDSZQIMM59

Tax ID: 84-1389363

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Fortis Private Bank is a smaller bank specializing in Home Purchase loans. Fortis Private Bank has a high proportion of conventional loans. Their top markets by origination volume include: Heber, Denver, Provo, Salt Lake City, and Greeley among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fortis Private Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

45

Origination Dollar Volume (All Markets)

$97,005,000

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
Heber, UT (FHA|USDA|VA) 14 $35,720,000 $2,551,429 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 12 $28,720,000 $2,393,333 $0 0.00%
PROVO-OREM, UT (FHA|USDA|VA) 6 $9,490,000 $1,581,667 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 6 $9,040,000 $1,506,667 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 1 $4,755,000 $4,755,000 $0 0.00%
Outside of Metro Areas 1 $3,755,000 $3,755,000 $0 0.00%
LOGAN, UT-ID (FHA|USDA|VA) 1 $1,685,000 $1,685,000 $0 0.00%
BOULDER, CO (FHA|USDA|VA) 1 $1,655,000 $1,655,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 0.00%
Edwards, CO (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Fortis Private Bank's top markets include Heber, Denver, Provo, Salt Lake City, and Greeley among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $97,005,000 $2,155,667 $0 0.00%

    For 2022, Fortis Private Bank's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $75,245,000 $2,280,152 $0 0.00%
    Cash Out Refi 5 $9,895,000 $1,979,000 $0 0.00%
    Home Improvement 4 $8,640,000 $2,160,000 $0 0.00%
    Refi 3 $3,225,000 $1,075,000 $0 0.00%

    For 2022, Fortis Private Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 45 $97,005,000 $2,155,667 $0 0.00%

    For 2022, Fortis Private Bank's most frequently cited loan duration was Other, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 33 $89,575,000 $2,714,394 $0 0.00%
    $600k-1MM 7 $5,605,000 $800,714 $0 0.00%
    $200k-400k 3 $775,000 $258,333 $0 0.00%
    $400k-600k 2 $1,050,000 $525,000 $0 0.00%

    2022 saw Fortis Private Bank place emphasis on $1MM+ loans with 33 originations, totaling $89,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 33 $71,055,000 $2,153,182 $0 0.00%
    $150k-250k 3 $2,335,000 $778,333 $0 0.00%
    $100k-150k 1 $305,000 $305,000 $0 0.00%

    Fortis Private Bank lent most frequently to those with incomes in the $250k+ range, with 33 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 45 $97,005,000 $2,155,667 $0 0.00%

    Fortis Private Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $49,010,000 $1,885,000 $0 0.00%
    Not provided 11 $24,685,000 $2,244,091 $0 0.00%
    Not applicable 8 $23,310,000 $2,913,750 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.04%

    Fortis Private Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    57.78%

    Fortis Private Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 45 $97,005,000 $2,155,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    45 $97,005,000 $2,155,667