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 Home Purchase, Refi, and Cash Out Refi loans. Prudential Affordable Mortgage Company has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Atlanta, New York, and Richmond among others. We have data for 33 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 an above average pick rate when compared to similar lenders.
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Originations
72Origination Dollar Volume (All Markets)
$2,061,900,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 11 | $410,765,000 | $37,342,273 | $0 | 3.56% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $214,470,000 | $53,617,500 | $0 | 3.15% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $186,065,000 | $37,213,000 | $0 | 3.81% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $128,725,000 | $25,745,000 | $0 | 3.93% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $108,585,000 | $36,195,000 | $0 | 4.05% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $99,115,000 | $19,823,000 | $0 | 4.29% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $93,140,000 | $46,570,000 | $0 | 3.56% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $76,125,000 | $15,225,000 | $0 | 4.22% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $71,860,000 | $35,930,000 | $0 | 4.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $70,860,000 | $17,715,000 | $0 | 4.50% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $70,575,000 | $70,575,000 | $0 | 3.72% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $59,575,000 | $59,575,000 | $0 | 3.61% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $55,865,000 | $18,621,667 | $0 | 4.44% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $50,840,000 | $25,420,000 | $0 | 4.27% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $46,315,000 | $46,315,000 | $0 | 4.15% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $42,105,000 | $42,105,000 | $0 | 4.15% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $36,425,000 | $36,425,000 | $0 | 4.16% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $33,355,000 | $33,355,000 | $0 | 3.93% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $30,415,000 | $30,415,000 | $0 | 4.52% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $28,485,000 | $28,485,000 | $0 | 4.37% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $22,145,000 | $22,145,000 | $0 | 3.85% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $21,145,000 | $21,145,000 | $0 | 4.28% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $20,895,000 | $20,895,000 | $0 | 3.77% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $17,775,000 | $17,775,000 | $0 | 4.35% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $15,515,000 | $15,515,000 | $0 | 4.47% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $9,925,000 | $9,925,000 | $0 | 3.68% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $8,895,000 | $8,895,000 | $0 | 3.77% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $7,805,000 | $7,805,000 | $0 | 4.51% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $7,665,000 | $7,665,000 | $0 | 3.77% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $6,605,000 | $6,605,000 | $0 | 5.38% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $6,405,000 | $6,405,000 | $0 | 3.69% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $2,255,000 | $2,255,000 | $0 | 4.86% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 4.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $2,061,900,000 | $28,637,500 | $0 | 3.99% |
For 2019, Prudential Affordable Mortgage Company's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
For 2019, Prudential Affordable Mortgage Company's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
For 2019, Prudential Affordable Mortgage Company's most frequently cited loan duration was 10 Year, with 31 originations. The 2nd most popular length was Other, with 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 41 | $1,444,265,000 | $35,225,976 |
| 4-5% | 25 | $579,645,000 | $23,185,800 |
| 5-6% | 6 | $37,990,000 | $6,331,667 |
During 2019, Prudential Affordable Mortgage Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 41 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 72 | $2,061,900,000 | $28,637,500 | $0 | 3.99% |
2019 saw Prudential Affordable Mortgage Company place emphasis on $1MM+ loans with 72 originations, totaling $2,061,900,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 72 | $2,061,900,000 | $28,637,500 | $0 | 3.99% |
Approval Rates
Total approvals of all applications98.88%
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 origination90.28%
Prudential Affordable Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 72 | $2,061,900,000 | $28,637,500 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 72 | $2,061,900,000 | $28,637,500 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Partners for Payment Relief | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |