First South Financial Mortgage Rates, Fees & Info
Bartlett, TNLEI: 549300K2JM6ID3V5LO24
Tax ID: 62-0579508
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Mortgage Data
Review & Overview
First South Financial is a smaller mortgage company specializing in Refi and Home Purchase loans. First South Financial has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Boston, Dyersburg, and Oxford among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)First South Financial 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
82Origination Dollar Volume (All Markets)
$11,720,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 73 | $10,535,000 | $144,315 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $520,000 | $130,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Dyersburg, TN (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 82 | $11,720,000 | $142,927 | $0 | 0.00% |
For 2018, First South Financial's most frequently originated type of loan was Conventional, with 82 originations.
Loan Reason
For 2018, First South Financial's most frequently cited loan purpose was Refi, with 50 originations. The 2nd most popular reason was Home Purchase, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 82 | $11,720,000 | $142,927 | $0 | 0.00% |
For 2018, First South Financial's most frequently cited loan duration was Other, with 82 originations.
Loan Sizing
2018 saw First South Financial place emphasis on $100k-200k loans with 34 originations, totaling $4,700,000 in origination value.
Applicant Income
First South Financial lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $75k-100k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 82 | $11,720,000 | $142,927 | $0 | 0.00% |
First South Financial lent most frequently to those with DTI ratios of Exempt%, with 82 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.61%
First South Financial has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination9.76%
First South Financial 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 | 82 | $11,720,000 | $142,927 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 82 | $11,720,000 | $142,927 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST AMERICAN FINANCIAL CORPORATION | Other type of mortgage | Trouble during payment process | 1 | 8.3% |
| FIRST AMERICAN FINANCIAL CORPORATION | Conventional home mortgage | Closing on a mortgage | 3 | 25.0% |
| FIRST AMERICAN FINANCIAL CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 8.3% |
| FIRST AMERICAN FINANCIAL CORPORATION | FHA mortgage | Closing on a mortgage | 1 | 8.3% |
| FIRST AMERICAN FINANCIAL CORPORATION | FHA mortgage | Struggling to pay mortgage | 1 | 8.3% |
| FIRST AMERICAN FINANCIAL CORPORATION | Other type of mortgage | Closing on a mortgage | 3 | 25.0% |
| FIRST AMERICAN FINANCIAL CORPORATION | Other type of mortgage | Struggling to pay mortgage | 2 | 16.7% |