Jones Lang Lasalle Multifamily

St. Paul, MN 55116

LEI: 549300JQALY53TH22D13

Tax ID: 26-3894079

2019 Data | 2018 Data


Overview

Jones Lang Lasalle Multifamily is a small mortgage company specializing in Home Purchase and Cash Out Refi loans. Jones Lang Lasalle Multifamily has a high proportion of conventional loans. Their top markets include Atlanta, New York, Miami, Minneapolis, and Seattle among others. They have an above average approval rate for mortages when compared nationally -- and they have an average pick rate when compared to the same sample of other lendors. Jones Lang Lasalle Multifamily is typically a lendor.


Originations

162

Origination Dollar Volume (All Markets)

$2,597,440,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 162 $2,597,440,000 $16,033,580

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 92 $1,425,020,000 $15,489,348
Home Improvement 11 $38,095,000 $3,463,182
Refi 7 $190,595,000 $27,227,857
Cash Out Refi 52 $943,730,000 $18,148,654

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 11 $241,185,000 $21,925,909
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 6 $201,980,000 $33,663,333
MIAMI-MIAMI BEACH-KENDALL, FL 3 $135,495,000 $45,165,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 9 $134,605,000 $14,956,111
SEATTLE-BELLEVUE-KENT, WA 7 $128,885,000 $18,412,143
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 5 $92,875,000 $18,575,000
PHOENIX-MESA-CHANDLER, AZ 3 $80,825,000 $26,941,667
CINCINNATI, OH-KY-IN 1 $74,255,000 $74,255,000
NEWARK, NJ-PA 2 $69,790,000 $34,895,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 2 $69,510,000 $34,755,000
COLUMBUS, OH 3 $67,315,000 $22,438,333
LOS ANGELES-LONG BEACH-GLENDALE, CA 2 $63,540,000 $31,770,000
DALLAS-PLANO-IRVING, TX 6 $60,960,000 $10,160,000
JACKSONVILLE, FL 2 $60,610,000 $30,305,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 4 $58,480,000 $14,620,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 4 $57,850,000 $14,462,500
DENVER-AURORA-LAKEWOOD, CO 4 $49,570,000 $12,392,500
SACRAMENTO-ROSEVILLE-FOLSOM, CA 3 $43,355,000 $14,451,667
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 3 $40,765,000 $13,588,333
OKLAHOMA CITY, OK 1 $37,155,000 $37,155,000
CHICAGO-NAPERVILLE-EVANSTON, IL 3 $35,735,000 $11,911,667
Outside of Metro Areas 7 $34,665,000 $4,952,143
NEW ORLEANS-METAIRIE, LA 4 $31,840,000 $7,960,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 1 $31,725,000 $31,725,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 2 $30,500,000 $15,250,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 1 $28,915,000 $28,915,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 1 $27,405,000 $27,405,000
TUCSON, AZ 1 $25,905,000 $25,905,000
LAREDO, TX 2 $24,010,000 $12,005,000
TULSA, OK 2 $23,100,000 $11,550,000
RALEIGH-CARY, NC 1 $22,185,000 $22,185,000
ANAHEIM-SANTA ANA-IRVINE, CA 1 $22,005,000 $22,005,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $19,205,000 $19,205,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 2 $18,240,000 $9,120,000
PHILADELPHIA, PA 1 $18,165,000 $18,165,000
GREENVILLE-ANDERSON, SC 3 $17,985,000 $5,995,000
BLOOMINGTON, IN 1 $17,115,000 $17,115,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $16,135,000 $16,135,000
BIRMINGHAM-HOOVER, AL 1 $16,005,000 $16,005,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1 $15,905,000 $15,905,000
ALBUQUERQUE, NM 1 $15,845,000 $15,845,000
SYRACUSE, NY 1 $15,815,000 $15,815,000
DULUTH, MN-WI 2 $15,510,000 $7,755,000
BUFFALO-CHEEKTOWAGA, NY 1 $15,395,000 $15,395,000
WINSTON-SALEM, NC 1 $14,975,000 $14,975,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $14,105,000 $14,105,000
WACO, TX 1 $14,005,000 $14,005,000
ALBANY-SCHENECTADY-TROY, NY 1 $13,845,000 $13,845,000
LAS VEGAS-HENDERSON-PARADISE, NV 1 $13,405,000 $13,405,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1 $13,185,000 $13,185,000
SPRINGFIELD, MO 3 $12,955,000 $4,318,333
NAPLES-MARCO ISLAND, FL 1 $12,255,000 $12,255,000
MADISON, WI 2 $12,170,000 $6,085,000
BURLINGTON, NC 1 $11,745,000 $11,745,000
ATHENS-CLARKE COUNTY, GA 1 $11,345,000 $11,345,000
WICHITA FALLS, TX 1 $11,175,000 $11,175,000
EUGENE-SPRINGFIELD, OR 1 $10,705,000 $10,705,000
SPARTANBURG, SC 2 $10,330,000 $5,165,000
ROANOKE, VA 2 $10,110,000 $5,055,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 1 $10,065,000 $10,065,000
TALLAHASSEE, FL 1 $9,305,000 $9,305,000
SALINAS, CA 1 $9,255,000 $9,255,000
KILLEEN-TEMPLE, TX 1 $8,535,000 $8,535,000
COLORADO SPRINGS, CO 2 $8,260,000 $4,130,000
WATERLOO-CEDAR FALLS, IA 1 $8,255,000 $8,255,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $7,575,000 $7,575,000
ANN ARBOR, MI 1 $7,465,000 $7,465,000
ATLANTIC CITY-HAMMONTON, NJ 1 $6,435,000 $6,435,000
HUNTSVILLE, AL 1 $6,105,000 $6,105,000
GREENSBORO-HIGH POINT, NC 1 $4,655,000 $4,655,000
TUSCALOOSA, AL 1 $3,935,000 $3,935,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $3,855,000 $3,855,000
JANESVILLE-BELOIT, WI 2 $3,540,000 $1,770,000
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 2 $3,410,000 $1,705,000
ST. CLOUD, MN 1 $2,165,000 $2,165,000

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
3-4% 84 $1,584,460,000 $18,862,619
4-5% 73 $1,003,855,000 $13,751,438
5-6% 5 $9,125,000 $1,825,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$400k-600k 1 $585,000 $585,000
$Over $1MM 161 $2,596,855,000 $16,129,534

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% 3 $12,805,000 $4,268,333
40-60% 14 $169,380,000 $12,098,571
60-80% 119 $2,189,625,000 $18,400,210
80-100% 11 $155,805,000 $14,164,091
Over 100% 6 $52,110,000 $8,685,000
Under 20% 9 $17,715,000 $1,968,333

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

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
Not applicable 162 $2,597,440,000 $16,033,580

Approval Rates

Total approvals of all applications
99.61%

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
94.14%

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 162 $2,597,440,000 $16,033,580

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
Multifamily:Manufactured 3 $24,805,000 $8,268,333
Multifamily:Site-Built 159 $2,572,635,000 $16,180,094