Greenwood Mortgage Rates, Fees & Info
Warwick, RILEI: 549300JD1162QW84ZO34
Tax ID: 05-0254228
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Greenwood is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Greenwood has a high proportion of conventional loans. Their top markets include Providence, Boston, Phoenix, Naples, and Worcester among others. Greenwood has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Greenwood is typically an average fee lendor.Originations
932Origination Dollar Volume (All Markets)
$130,360,000Relative Rate
Greenwood's average 30 year fixed rate mortgage of loans were
3.22%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.07%.
Relative Fees
Greenwood's average total fees for a 30 year fixed rate
mortgage are $3,509.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 522 | $87,820,000 | $168,238 | $2,729 | 3.27% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 47 | $7,015,000 | $149,255 | $2,248 | 4.98% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 45 | $4,065,000 | $90,333 | $0 | 5.50% |
| Outside of Metro Areas | 27 | $3,995,000 | $147,963 | $2,523 | 4.69% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,970,000 | $985,000 | $8,318 | 2.93% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 12 | $1,940,000 | $161,667 | $2,771 | 4.84% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 16 | $1,900,000 | $118,750 | $0 | 5.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 19 | $1,815,000 | $95,526 | $0 | 5.86% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 25 | $1,635,000 | $65,400 | $0 | 5.97% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 14 | $1,560,000 | $111,429 | $0 | 5.83% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 19 | $1,285,000 | $67,632 | $0 | 5.12% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 13 | $1,205,000 | $92,692 | $3,452 | 5.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 10 | $1,030,000 | $103,000 | $0 | 5.60% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 9 | $905,000 | $100,556 | $0 | 4.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $710,000 | $118,333 | $0 | 5.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $645,000 | $92,143 | $0 | 5.96% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $640,000 | $80,000 | $2,733 | 5.78% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 10 | $640,000 | $64,000 | $0 | 6.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,309 | 4.17% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 6 | $570,000 | $95,000 | $0 | 5.96% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 8 | $540,000 | $67,500 | $0 | 5.65% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 7 | $515,000 | $73,571 | $0 | 6.16% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 8 | $500,000 | $62,500 | $0 | 6.11% |
| READING, PA (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $0 | 5.37% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $2,247 | 4.66% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 5 | $385,000 | $77,000 | $0 | 4.87% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $0 | 6.15% |
| Key West, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.50% |
| TUCSON, AZ (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 5.50% |
| DOVER, DE (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $0 | 5.75% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 5.58% |
| KINGSTON, NY (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 5.58% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 4 | $220,000 | $55,000 | $0 | 5.87% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 6.13% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 5.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 6.50% |
| Keene, NH (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 5.88% |
| MONROE, MI (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $0 | 6.13% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 5.83% |
| Cadillac, MI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 5.88% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.99% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,376 | 3.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 4.63% |
| Laconia, NH (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 4.50% |
| NILES, MI (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 6.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 5.75% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.25% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 5.12% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.25% |
| OCALA, FL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 5.94% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.95% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.24% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.81% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.37% |
| Concord, NH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.25% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.25% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.50% |
| Hudson, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.75% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.38% |
Greenwood's top markets include Providence, Boston, Phoenix, Naples, and Worcester among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 932 | $130,360,000 | $139,871 | $2,734 | 4.23% |
For the 2021 period, Greenwood's most frequently originated loan type of loans were Conventional, with 932 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 388 | $43,960,000 | $113,299 | $3,735 | 5.51% |
| Cash Out Refi | 284 | $41,180,000 | $145,000 | $2,616 | 3.39% |
| Refi | 111 | $17,345,000 | $156,261 | $3,243 | 3.15% |
| Home Improvement | 103 | $18,325,000 | $177,913 | $490 | 3.33% |
| Other | 46 | $9,550,000 | $207,609 | $2,485 | 3.18% |
For the 2021, Greenwood's most frequently cited loan purpose of loans were Home Purchase, with 388 originations. The 2nd most popular reason of loans were Cash Out Refi, with 284 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 545 | $62,785,000 | $115,202 | $2,552 | 4.32% |
| 30 Year | 142 | $39,310,000 | $276,831 | $3,509 | 3.22% |
| 15 Year | 118 | $15,630,000 | $132,458 | $2,489 | 4.02% |
| Other | 92 | $10,170,000 | $110,543 | $228 | 5.59% |
| 10 Year | 27 | $2,175,000 | $80,556 | $536 | 4.22% |
| 5 Year | 8 | $290,000 | $36,250 | $203 | 4.06% |
For the 2021, Greenwood's most frequently cited loan length of loans were 20 Year, with 545 originations. The 2nd most popular length of loans were 30 Year, with 142 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 293 | $55,525,000 | $189,505 |
| $1k-2k | 59 | $5,525,000 | $93,644 |
| $5k+ | 32 | $7,130,000 | $222,813 |
| $3k-4k | 22 | $3,100,000 | $140,909 |
| $2k-3k | 14 | $1,560,000 | $111,429 |
$3,509 of loans were Greenwood's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 293 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 238 | $28,420,000 | $119,412 |
| 6-7% | 164 | $13,440,000 | $81,951 |
| 4-5% | 161 | $13,735,000 | $85,311 |
| 5-6% | 156 | $13,710,000 | $87,885 |
| 2.5-3% | 113 | $24,675,000 | $218,363 |
| 3-4% | 97 | $36,225,000 | $373,454 |
| Over 8% | 1 | $125,000 | $125,000 |
During 2021, Greenwood's average interest rate of loans were 3.22%, while their most frequently originated rate bucket of loans were <2.5%, with 238 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 505 | $29,065,000 | $57,554 | $651 | 4.61% |
| $100k-200k | 249 | $34,345,000 | $137,932 | $2,577 | 4.27% |
| $200k-400k | 145 | $37,775,000 | $260,517 | $3,703 | 3.14% |
| $400k-600k | 26 | $12,530,000 | $481,923 | $5,123 | 2.89% |
| $1MM+ | 6 | $15,830,000 | $2,638,333 | $6,050 | 3.38% |
| $600k-1MM | 1 | $815,000 | $815,000 | $4,930 | 3.00% |
2021 saw Greenwood place emphasis on $100,000 or less loans with 505 originations, totaling $29,065,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 237 | $25,535,000 | $107,743 | $2,284 | 4.67% |
| $50k or less | 181 | $14,215,000 | $78,536 | $2,328 | 4.77% |
| $75k-100k | 171 | $18,435,000 | $107,807 | $2,279 | 4.14% |
| $100k-150k | 153 | $22,945,000 | $149,967 | $2,853 | 3.98% |
| $150k-250k | 111 | $19,365,000 | $174,459 | $2,738 | 3.71% |
| $250k+ | 57 | $17,715,000 | $310,789 | $4,949 | 3.04% |
Greenwood lent most frequently to those with incomes in the $50k-75k range, with 237 originations. The second most popular income band? $50k or less, with 181 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 206 | $24,280,000 | $117,864 | $2,562 | 4.12% |
| 30-36% | 202 | $24,550,000 | $121,535 | $2,539 | 4.33% |
| <20% | 115 | $18,835,000 | $163,783 | $3,873 | 3.19% |
| 42% | 44 | $6,300,000 | $143,182 | $3,331 | 4.75% |
| 41% | 40 | $4,380,000 | $109,500 | $1,710 | 4.75% |
| 37% | 40 | $4,850,000 | $121,250 | $2,615 | 4.57% |
| 39% | 38 | $4,290,000 | $112,895 | $1,956 | 4.65% |
| 44% | 37 | $4,175,000 | $112,838 | $3,499 | 4.84% |
| 43% | 36 | $3,340,000 | $92,778 | $1,320 | 4.60% |
| 40% | 36 | $4,110,000 | $114,167 | $2,457 | 4.83% |
| 38% | 34 | $4,170,000 | $122,647 | $2,643 | 5.14% |
| 36% | 20 | $2,100,000 | $105,000 | $1,636 | 3.96% |
| 50-60% | 8 | $3,430,000 | $428,750 | $4,901 | 3.32% |
| 48% | 7 | $1,495,000 | $213,571 | $3,123 | 3.59% |
| >60% | 5 | $1,575,000 | $315,000 | $2,062 | 4.10% |
| 46% | 4 | $830,000 | $207,500 | $4,459 | 2.65% |
| 45% | 3 | $375,000 | $125,000 | $2,871 | 4.25% |
| 49% | 2 | $210,000 | $105,000 | $1,228 | 4.25% |
| 47% | 1 | $15,000 | $15,000 | $0 | 2.49% |
Greenwood lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 202 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 824 | $106,720,000 | $129,515 | $2,781 | 4.15% |
| Not applicable | 4 | $10,920,000 | $2,730,000 | $0 | 4.29% |
| Not provided | 71 | $6,235,000 | $87,817 | $1,234 | 5.21% |
| Black | 18 | $4,630,000 | $257,222 | $3,096 | 3.79% |
| Asian | 4 | $630,000 | $157,500 | $1,584 | 4.21% |
| American Indian | 4 | $560,000 | $140,000 | $203 | 5.31% |
| Other Pacific Islander | 4 | $370,000 | $92,500 | $0 | 6.00% |
| Native Hawaiian | 1 | $205,000 | $205,000 | $3,181 | 2.75% |
| Other Asian | 2 | $90,000 | $45,000 | $203 | 3.74% |
Approval Rates
Total approvals of all applications84.14%
Greenwood has a below average approval rate.
Pick Rate
Approvals leading to origination56.96%
Greenwood 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 |
|---|---|---|---|
| 0.0 | 159 | $12,825,000 | $80,660 |
| 686.25 | 1 | $65,000 | $65,000 |
| 693.25 | 2 | $100,000 | $50,000 |
| 85.0 | 3 | $285,000 | $95,000 |
| 850.0 | 5 | $515,000 | $103,000 |
| 862.0 | 2 | $170,000 | $85,000 |
| 911.5 | 4 | $580,000 | $145,000 |
| 918.25 | 10 | $790,000 | $79,000 |
| 935.0 | 5 | $345,000 | $69,000 |
| NA | 741 | $114,685,000 | $154,771 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 932 | $130,360,000 | $139,871 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 110 | $15,420,000 | $140,182 | $1,967 | 3.43% |
| 40-60% | 147 | $23,185,000 | $157,721 | $3,447 | 3.55% |
| 60-80% | 228 | $48,870,000 | $214,342 | $3,282 | 4.46% |
| 80-100% | 206 | $25,590,000 | $124,223 | $4,397 | 5.83% |
| Over 100% | 1 | $1,005,000 | $1,005,000 | $0 | 4.00% |
| Under 20% | 192 | $10,230,000 | $53,281 | $513 | 3.27% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Greentree & Associates | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
