Greenwood Mortgage Rates, Fees & Info

Warwick, RI

LEI: 549300JD1162QW84ZO34

Tax ID: 05-0254228

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

932

Origination Dollar Volume (All Markets)

$130,360,000

Relative 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 applications
84.14%

Greenwood has a below average approval rate.

Pick Rate

Approvals leading to origination
56.96%

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%