Industrial Bank Mortgage Rates, Fees & Info
Washington, DCLEI: 549300J8HNLGP2HYNE66
Tax ID: 53-0088120
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Industrial Bank is a smaller bank specializing in Home Purchase and Refi loans. Industrial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, and Virginia Beach among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Industrial Bank has a below 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
20Origination Dollar Volume (All Markets)
$15,440,000Top 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) | 16 | $14,850,000 | $928,125 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 20 | $15,440,000 | $772,000 | $0 | 0.00% |
For 2022, Industrial Bank's most frequently originated type of loan was Conventional, with 20 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $6,655,000 | $605,000 | $0 | 0.00% |
| Cash Out Refi | 5 | $2,115,000 | $423,000 | $0 | 0.00% |
| Refi | 4 | $6,670,000 | $1,667,500 | $0 | 0.00% |
For 2022, Industrial Bank's most frequently cited loan purpose was Home Purchase, with 11 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 | 20 | $15,440,000 | $772,000 | $0 | 0.00% |
For 2022, Industrial Bank's most frequently cited loan duration was Other, with 20 originations.
Loan Sizing
2022 saw Industrial Bank place emphasis on $100k-200k loans with 6 originations, totaling $970,000 in origination value.
Applicant Income
Industrial Bank lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 20 | $15,440,000 | $772,000 | $0 | 0.00% |
Industrial Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 11 | $11,995,000 | $1,090,455 | $0 | 0.00% |
| Black | 9 | $3,445,000 | $382,778 | $0 | 0.00% |
Approval Rates
Total approvals of all applications64.29%
Industrial Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination5.00%
Industrial 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 | 20 | $15,440,000 | $772,000 |