Envoy Mortgage Ltd.

HOUSTON, TX 77043

LEI: 549300J6N77Q8OHYNF23

Tax ID: 76-0700342

2019 Data | 2018 Data


Overview

Envoy Mortgage Ltd. is a small mortgage company specializing in Home Purchase loans. Envoy Mortgage Ltd. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Houston, San Luis Obispo, New York, Cambridge, and Kennewick among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Envoy Mortgage Ltd. is typically a lendor.


Originations

12,703

Origination Dollar Volume (All Markets)

$3,095,475,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,456 $1,969,070,000 $264,092
FHA 3,693 $762,095,000 $206,362
VA 1,233 $313,715,000 $254,432
USDA 321 $50,595,000 $157,617

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 9,947 $2,290,685,000 $230,289
Refi 1,621 $493,135,000 $304,217
Cash Out Refi 1,135 $311,655,000 $274,586

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
Outside of Metro Areas 1,066 $200,860,000 $188,424
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 561 $145,605,000 $259,545
SAN LUIS OBISPO-PASO ROBLES, CA 315 $133,965,000 $425,286
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 276 $116,690,000 $422,790
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 260 $101,370,000 $389,885
KENNEWICK-RICHLAND, WA 314 $85,420,000 $272,038
PHOENIX-MESA-CHANDLER, AZ 327 $84,205,000 $257,508
WORCESTER, MA-CT 317 $81,665,000 $257,618
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 275 $70,055,000 $254,745
BOSTON, MA 184 $68,900,000 $374,457
ROCKFORD, IL 689 $66,305,000 $96,234
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 241 $61,535,000 $255,332
LOUISVILLE/JEFFERSON COUNTY, KY-IN 322 $58,210,000 $180,776
ORLANDO-KISSIMMEE-SANFORD, FL 242 $55,240,000 $228,264
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 210 $53,570,000 $255,095
VALLEJO, CA 139 $52,735,000 $379,388
PROVIDENCE-WARWICK, RI-MA 192 $52,240,000 $272,083
BAKERSFIELD, CA 211 $49,965,000 $236,801
SPOKANE-SPOKANE VALLEY, WA 256 $49,580,000 $193,672
TACOMA-LAKEWOOD, WA 141 $46,995,000 $333,298
SACRAMENTO-ROSEVILLE-FOLSOM, CA 132 $46,090,000 $349,167
NEW HAVEN-MILFORD, CT 198 $45,820,000 $231,414
AUSTIN-ROUND ROCK-GEORGETOWN, TX 130 $42,150,000 $324,231
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 152 $40,740,000 $268,026
CINCINNATI, OH-KY-IN 227 $40,295,000 $177,511
DENVER-AURORA-LAKEWOOD, CO 110 $39,790,000 $361,727
NASSAU COUNTY-SUFFOLK COUNTY, NY 106 $39,760,000 $375,094
WARREN-TROY-FARMINGTON HILLS, MI 180 $37,450,000 $208,056
BALTIMORE-COLUMBIA-TOWSON, MD 124 $37,010,000 $298,468
OAKLAND-BERKELEY-LIVERMORE, CA 74 $36,760,000 $496,757
PHILADELPHIA, PA 130 $36,330,000 $279,462
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 170 $35,390,000 $208,176
COLUMBUS, GA-AL 169 $31,365,000 $185,592
BRIDGEPORT-STAMFORD-NORWALK, CT 119 $30,365,000 $255,168
MOBILE, AL 198 $28,630,000 $144,596
NAPLES-MARCO ISLAND, FL 110 $28,150,000 $255,909
NORTH PORT-SARASOTA-BRADENTON, FL 133 $27,015,000 $203,120
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 84 $26,650,000 $317,262
SANTA MARIA-SANTA BARBARA, CA 65 $24,905,000 $383,154
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 69 $24,335,000 $352,681
CAPE CORAL-FORT MYERS, FL 116 $22,200,000 $191,379
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 93 $22,035,000 $236,935
NEW BRUNSWICK-LAKEWOOD, NJ 66 $21,940,000 $332,424
GULFPORT-BILOXI, MS 134 $21,840,000 $162,985
SEATTLE-BELLEVUE-KENT, WA 55 $21,685,000 $394,273
MILWAUKEE-WAUKESHA, WI 114 $21,510,000 $188,684
LOS ANGELES-LONG BEACH-GLENDALE, CA 43 $19,805,000 $460,581
SAN ANTONIO-NEW BRAUNFELS, TX 81 $18,995,000 $234,506
GRAND RAPIDS-KENTWOOD, MI 97 $18,455,000 $190,258
MEMPHIS, TN-MS-AR 78 $18,170,000 $232,949
MANCHESTER-NASHUA, NH 71 $17,865,000 $251,620
PORTLAND-SOUTH PORTLAND, ME 73 $17,455,000 $239,110
COLUMBUS, OH 72 $16,930,000 $235,139
GREENVILLE-ANDERSON, SC 104 $15,410,000 $148,173
DALLAS-PLANO-IRVING, TX 63 $15,075,000 $239,286
MIAMI-MIAMI BEACH-KENDALL, FL 60 $15,010,000 $250,167
WILMINGTON, DE-MD-NJ 64 $14,820,000 $231,563
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 63 $13,145,000 $208,651
DETROIT-DEARBORN-LIVONIA, MI 83 $13,115,000 $158,012
MERCED, CA 52 $12,780,000 $245,769
TAMPA-ST. PETERSBURG-CLEARWATER, FL 62 $12,400,000 $200,000
MODESTO, CA 47 $12,355,000 $262,872
SALINAS, CA 24 $11,050,000 $460,417
ASHEVILLE, NC 45 $10,935,000 $243,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 60 $10,850,000 $180,833
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 56 $9,950,000 $177,679
RICHMOND, VA 44 $9,650,000 $219,318
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 52 $9,430,000 $181,346
JACKSONVILLE, FL 48 $9,390,000 $195,625
OLYMPIA-LACEY-TUMWATER, WA 27 $9,235,000 $342,037
MUSKEGON, MI 74 $9,170,000 $123,919
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 29 $9,125,000 $314,655
SHEBOYGAN, WI 64 $8,840,000 $138,125
JANESVILLE-BELOIT, WI 61 $8,805,000 $144,344
MISSOULA, MT 31 $8,495,000 $274,032
DOTHAN, AL 53 $8,335,000 $157,264
COEUR D'ALENE, ID 31 $8,335,000 $268,871
CHICAGO-NAPERVILLE-EVANSTON, IL 38 $8,100,000 $213,158
LAKELAND-WINTER HAVEN, FL 39 $7,365,000 $188,846
KILLEEN-TEMPLE, TX 45 $7,225,000 $160,556
NEWARK, NJ-PA 15 $7,045,000 $469,667
DAPHNE-FAIRHOPE-FOLEY, AL 32 $6,420,000 $200,625
SALEM, OR 25 $6,175,000 $247,000
SPARTANBURG, SC 40 $6,060,000 $151,500
TUCSON, AZ 37 $5,965,000 $161,216
MOUNT VERNON-ANACORTES, WA 12 $5,590,000 $465,833
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 18 $5,450,000 $302,778
READING, PA 29 $5,095,000 $175,690
FORT WORTH-ARLINGTON-GRAPEVINE, TX 22 $4,490,000 $204,091
ROANOKE, VA 23 $4,185,000 $181,957
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 16 $4,160,000 $260,000
BURLINGTON-SOUTH BURLINGTON, VT 17 $4,085,000 $240,294
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 13 $3,805,000 $292,692
GAINESVILLE, FL 13 $3,475,000 $267,308
BARNSTABLE TOWN, MA 10 $3,350,000 $335,000
PORT ST. LUCIE, FL 14 $3,320,000 $237,143
AUBURN-OPELIKA, AL 19 $3,315,000 $174,474
LAKE COUNTY-KENOSHA COUNTY, IL-WI 12 $3,120,000 $260,000
YAKIMA, WA 14 $2,850,000 $203,571
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 6 $2,850,000 $475,000
FRESNO, CA 11 $2,795,000 $254,091
ELGIN, IL 15 $2,785,000 $185,667
STOCKTON, CA 7 $2,745,000 $392,143
RACINE, WI 16 $2,710,000 $169,375
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 6 $2,670,000 $445,000
WICHITA, KS 17 $2,655,000 $156,176
PALM BAY-MELBOURNE-TITUSVILLE, FL 14 $2,590,000 $185,000
PANAMA CITY, FL 12 $2,500,000 $208,333
LEXINGTON-FAYETTE, KY 15 $2,495,000 $166,333
ANAHEIM-SANTA ANA-IRVINE, CA 6 $2,450,000 $408,333
YUBA CITY, CA 7 $2,425,000 $346,429
ELIZABETHTOWN-FORT KNOX, KY 16 $2,400,000 $150,000
BAY CITY, MI 23 $2,385,000 $103,696
SALISBURY, MD-DE 8 $2,270,000 $283,750
LYNCHBURG, VA 12 $2,260,000 $188,333
CHARLESTON-NORTH CHARLESTON, SC 9 $2,215,000 $246,111
ATLANTIC CITY-HAMMONTON, NJ 12 $2,160,000 $180,000
NORWICH-NEW LONDON, CT 12 $2,160,000 $180,000
COLORADO SPRINGS, CO 8 $2,110,000 $263,750
NAPA, CA 5 $2,035,000 $407,000
SEBASTIAN-VERO BEACH, FL 11 $2,025,000 $184,091
INDIANAPOLIS-CARMEL-ANDERSON, IN 13 $1,975,000 $151,923
MADISON, WI 8 $1,960,000 $245,000
OXNARD-THOUSAND OAKS-VENTURA, CA 6 $1,960,000 $326,667
OCEAN CITY, NJ 6 $1,950,000 $325,000
OCALA, FL 12 $1,920,000 $160,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 5 $1,795,000 $359,000
BELLINGHAM, WA 8 $1,780,000 $222,500
SANTA CRUZ-WATSONVILLE, CA 3 $1,755,000 $585,000
GREELEY, CO 6 $1,740,000 $290,000
COLUMBIA, SC 12 $1,730,000 $144,167
MANHATTAN, KS 8 $1,690,000 $211,250
WALLA WALLA, WA 4 $1,650,000 $412,500
SPRINGFIELD, MA 9 $1,645,000 $182,778
LANCASTER, PA 6 $1,520,000 $253,333
CAMDEN, NJ 5 $1,485,000 $297,000
FLINT, MI 6 $1,460,000 $243,333
MADERA, CA 4 $1,340,000 $335,000
DOVER, DE 5 $1,245,000 $249,000
CLARKSVILLE, TN-KY 6 $1,120,000 $186,667
GREENSBORO-HIGH POINT, NC 5 $1,075,000 $215,000
ALBUQUERQUE, NM 7 $1,055,000 $150,714
ANN ARBOR, MI 5 $1,035,000 $207,000
EAST STROUDSBURG, PA 6 $1,030,000 $171,667
KINGSTON, NY 3 $1,005,000 $335,000
PUEBLO, CO 7 $975,000 $139,286
MIDLAND, MI 6 $970,000 $161,667
REDDING, CA 3 $935,000 $311,667
HAGERSTOWN-MARTINSBURG, MD-WV 4 $910,000 $227,500
HUNTSVILLE, AL 4 $910,000 $227,500
SAN RAFAEL, CA 2 $880,000 $440,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 4 $880,000 $220,000
HICKORY-LENOIR-MORGANTON, NC 5 $815,000 $163,000
OKLAHOMA CITY, OK 4 $800,000 $200,000
PRESCOTT VALLEY-PRESCOTT, AZ 3 $795,000 $265,000
VISALIA, CA 4 $780,000 $195,000
MEDFORD, OR 2 $740,000 $370,000
DAYTON-KETTERING, OH 4 $700,000 $175,000
RALEIGH-CARY, NC 3 $695,000 $231,667
YORK-HANOVER, PA 4 $670,000 $167,500
URBAN HONOLULU, HI 1 $665,000 $665,000
SAGINAW, MI 5 $655,000 $131,000
KALAMAZOO-PORTAGE, MI 3 $645,000 $215,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 2 $610,000 $305,000
MONROE, MI 4 $590,000 $147,500
VALDOSTA, GA 3 $585,000 $195,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 3 $495,000 $165,000
CORPUS CHRISTI, TX 1 $485,000 $485,000
HOMOSASSA SPRINGS, FL 4 $480,000 $120,000
TERRE HAUTE, IN 2 $470,000 $235,000
JACKSON, MS 2 $470,000 $235,000
EUGENE-SPRINGFIELD, OR 2 $440,000 $220,000
BIRMINGHAM-HOOVER, AL 3 $425,000 $141,667
ABILENE, TX 1 $395,000 $395,000
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $395,000 $131,667
ST. CLOUD, MN 2 $380,000 $190,000
KNOXVILLE, TN 3 $375,000 $125,000
WINSTON-SALEM, NC 3 $375,000 $125,000
SCRANTON--WILKES-BARRE, PA 2 $370,000 $185,000
SAVANNAH, GA 1 $365,000 $365,000
TOPEKA, KS 2 $360,000 $180,000
GADSDEN, AL 1 $345,000 $345,000
HATTIESBURG, MS 3 $335,000 $111,667
ROME, GA 2 $330,000 $165,000
ALBANY-SCHENECTADY-TROY, NY 2 $320,000 $160,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $315,000 $315,000
FLAGSTAFF, AZ 1 $315,000 $315,000
CHAMBERSBURG-WAYNESBORO, PA 1 $305,000 $305,000
JACKSON, TN 1 $305,000 $305,000
BANGOR, ME 1 $305,000 $305,000
BOWLING GREEN, KY 2 $290,000 $145,000
POCATELLO, ID 1 $285,000 $285,000
BEAUMONT-PORT ARTHUR, TX 2 $280,000 $140,000
WENATCHEE, WA 1 $275,000 $275,000
ODESSA, TX 1 $275,000 $275,000
GREEN BAY, WI 3 $275,000 $91,667
WAUSAU-WESTON, WI 3 $265,000 $88,333
EAU CLAIRE, WI 1 $265,000 $265,000
SHERMAN-DENISON, TX 1 $255,000 $255,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $255,000 $255,000
CHATTANOOGA, TN-GA 1 $245,000 $245,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $245,000 $245,000
ROCHESTER, MN 1 $245,000 $245,000
WILMINGTON, NC 1 $245,000 $245,000
BEND, OR 1 $245,000 $245,000
SAN ANGELO, TX 1 $245,000 $245,000
LAKE HAVASU CITY-KINGMAN, AZ 2 $240,000 $120,000
FLORENCE, SC 2 $230,000 $115,000
TRENTON-PRINCETON, NJ 1 $225,000 $225,000
CLEVELAND-ELYRIA, OH 1 $215,000 $215,000
FOND DU LAC, WI 1 $215,000 $215,000
LEBANON, PA 1 $215,000 $215,000
DURHAM-CHAPEL HILL, NC 1 $215,000 $215,000
DALTON, GA 1 $205,000 $205,000
SANTA ROSA-PETALUMA, CA 1 $205,000 $205,000
MACON-BIBB COUNTY, GA 1 $195,000 $195,000
JACKSON, MI 1 $195,000 $195,000
MANKATO, MN 1 $195,000 $195,000
BOISE CITY, ID 1 $195,000 $195,000
COLLEGE STATION-BRYAN, TX 1 $195,000 $195,000
HOT SPRINGS, AR 1 $185,000 $185,000
BLACKSBURG-CHRISTIANSBURG, VA 2 $180,000 $90,000
WARNER ROBINS, GA 1 $175,000 $175,000
ELKHART-GOSHEN, IN 1 $175,000 $175,000
CANTON-MASSILLON, OH 1 $175,000 $175,000
PUNTA GORDA, FL 1 $165,000 $165,000
FARGO, ND-MN 1 $165,000 $165,000
EVANSVILLE, IN-KY 1 $165,000 $165,000
NEW BERN, NC 1 $165,000 $165,000
EL PASO, TX 1 $165,000 $165,000
MUNCIE, IN 1 $155,000 $155,000
GREAT FALLS, MT 1 $145,000 $145,000
SPRINGFIELD, IL 1 $125,000 $125,000
GARY, IN 1 $125,000 $125,000
LONGVIEW, TX 1 $125,000 $125,000
TUSCALOOSA, AL 1 $105,000 $105,000
TALLAHASSEE, FL 1 $105,000 $105,000
JOHNSON CITY, TN 1 $85,000 $85,000
LANSING-EAST LANSING, MI 1 $85,000 $85,000
VICTORIA, TX 1 $65,000 $65,000
BROWNSVILLE-HARLINGEN, TX 1 $65,000 $65,000
FAYETTEVILLE, NC 1 $65,000 $65,000
OWENSBORO, KY 1 $65,000 $65,000

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% 55 $575,000 $10,455
2.5-3% 39 $8,945,000 $229,359
3-4% 4,570 $1,327,070,000 $290,387
4-5% 6,012 $1,416,650,000 $235,637
5-6% 1,725 $321,475,000 $186,362
6-7% 63 $12,705,000 $201,667
7-8% 16 $4,830,000 $301,875
Over 8% 4 $1,880,000 $470,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,225 $71,325,000 $58,224
$100k-200k 4,267 $651,625,000 $152,713
$200k-400k 5,668 $1,583,580,000 $279,390
$400k-600k 1,286 $602,560,000 $468,554
$600k-1000k 234 $160,440,000 $685,641
$Over $1MM 23 $25,945,000 $1,128,043

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% 194 $33,110,000 $170,670
40-60% 588 $145,270,000 $247,058
60-80% 2,718 $763,510,000 $280,909
80-100% 8,567 $2,060,245,000 $240,486
Over 100% 315 $89,205,000 $283,190
Under 20% 320 $4,130,000 $12,906

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 2,336 $720,330,000 $308,360
$150k-250k 1,323 $490,065,000 $370,420
$50k-75k 3,540 $698,780,000 $197,395
$50k-or less 2,751 $401,745,000 $146,036
$75k-100k 2,316 $583,710,000 $252,034
$Over $250k 437 $200,845,000 $459,600

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 10,118 $2,460,320,000 $243,163
Black 1,203 $263,715,000 $219,214
Not provided 860 $224,490,000 $261,035
Asian 371 $106,335,000 $286,617
American Indian 80 $19,160,000 $239,500
Asian Indian 21 $6,365,000 $303,095
Other Asian 12 $4,850,000 $404,167
Native Hawaiian 17 $4,425,000 $260,294
Filipino 7 $2,155,000 $307,857
Other Pacific Islander 7 $1,365,000 $195,000
Guamanian 2 $1,000,000 $500,000
Vietnamese 3 $865,000 $288,333
Korean 1 $285,000 $285,000
Chinese 1 $145,000 $145,000

Approval Rates

Total approvals of all applications
93.12%

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
79.73%

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 12,703 $3,095,475,000 $243,681

Origination Fees

Origination Fee Originations Total Value Average Loan

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):Manufactured 345 $52,865,000 $153,232
Single Family (1-4 Units):Site-Built 12,358 $3,042,610,000 $246,206