Prudential Affordable Mortgage Company Rates, Fees & Info
Newark, NJLEI: 549300J5WHZ3UBAKJW15
Tax ID: 54-1890355
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Mortgage Data
Review & Overview
Prudential Affordable Mortgage Company is a small mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Prudential Affordable Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: New York, Tampa, Dallas, Washington, and Atlanta among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Prudential Affordable Mortgage Company 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
46Origination Dollar Volume (All Markets)
$1,155,050,000Top 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 |
---|---|---|---|---|---|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 9 | $399,195,000 | $44,355,000 | $0 | 4.45% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $133,640,000 | $22,273,333 | $0 | 4.38% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $66,720,000 | $33,360,000 | $0 | 4.17% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $58,820,000 | $29,410,000 | $0 | 4.52% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $58,345,000 | $19,448,333 | $0 | 4.65% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $54,590,000 | $13,647,500 | $0 | 4.22% |
SPARTANBURG, SC (FHA|USDA|VA) | 2 | $53,420,000 | $26,710,000 | $0 | 3.46% |
COLUMBUS, OH (FHA|USDA|VA) | 1 | $40,005,000 | $40,005,000 | $0 | 3.86% |
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $37,140,000 | $18,570,000 | $0 | 5.08% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $34,105,000 | $34,105,000 | $0 | 4.17% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $29,525,000 | $29,525,000 | $0 | 5.72% |
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $28,175,000 | $28,175,000 | $0 | 4.93% |
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $26,365,000 | $26,365,000 | $0 | 3.76% |
SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $25,375,000 | $25,375,000 | $0 | 4.21% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $23,405,000 | $23,405,000 | $0 | 4.33% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $21,435,000 | $21,435,000 | $0 | 4.47% |
CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $18,930,000 | $9,465,000 | $0 | 4.19% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $16,945,000 | $16,945,000 | $0 | 4.32% |
Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $10,005,000 | $10,005,000 | $0 | 4.27% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $6,005,000 | $6,005,000 | $0 | 4.53% |
Jacksonville, TX (FHA|USDA|VA) | 1 | $4,805,000 | $4,805,000 | $0 | 4.04% |
ASHEVILLE, NC (FHA|USDA|VA) | 1 | $4,595,000 | $4,595,000 | $0 | 4.91% |
ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $3,505,000 | $3,505,000 | $0 | 5.34% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 46 | $1,155,050,000 | $25,109,783 | $0 | 4.41% |
For 2018, Prudential Affordable Mortgage Company's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2018, Prudential Affordable Mortgage Company's most frequently cited loan purpose was Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
For 2018, Prudential Affordable Mortgage Company's most frequently cited loan duration was Other, with 24 originations. The 2nd most popular length was 10 Year, with 15 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 34 | $922,620,000 | $27,135,882 |
3-4% | 9 | $192,895,000 | $21,432,778 |
5-6% | 3 | $39,535,000 | $13,178,333 |
During 2018, Prudential Affordable Mortgage Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 34 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$1MM+ | 46 | $1,155,050,000 | $25,109,783 | $0 | 4.41% |
2018 saw Prudential Affordable Mortgage Company place emphasis on $1MM+ loans with 46 originations, totaling $1,155,050,000 in origination value.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 46 | $1,155,050,000 | $25,109,783 | $0 | 4.41% |
Approval Rates
Total approvals of all applications98.39%
Prudential Affordable Mortgage 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 origination89.13%
Prudential Affordable Mortgage Company has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 46 | $1,155,050,000 | $25,109,783 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 46 | $1,155,050,000 | $25,109,783 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Partners for Payment Relief | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 100.0% |