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, Home Purchase, and Cash Out Refi loans. First South Financial has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Nashville, Dyersburg, Jackson, and Knoxville among others. We have data for 11 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
156Origination Dollar Volume (All Markets)
$26,280,000Top 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) | 135 | $23,105,000 | $171,148 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $765,000 | $109,286 | $0 | 0.00% |
| Dyersburg, TN (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $0 | 0.00% |
| JACKSON, TN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Brownsville, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Paris, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 156 | $26,280,000 | $168,462 | $0 | 0.00% |
For 2019, First South Financial's most frequently originated type of loan was Conventional, with 156 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 69 | $10,205,000 | $147,899 | $0 | 0.00% |
| Home Purchase | 48 | $8,980,000 | $187,083 | $0 | 0.00% |
| Cash Out Refi | 39 | $7,095,000 | $181,923 | $0 | 0.00% |
For 2019, First South Financial's most frequently cited loan purpose was Refi, with 69 originations. The 2nd most popular reason was Home Purchase, with 48 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 156 | $26,280,000 | $168,462 | $0 | 0.00% |
For 2019, First South Financial's most frequently cited loan duration was Other, with 156 originations.
Loan Sizing
2019 saw First South Financial place emphasis on $100k-200k loans with 60 originations, totaling $8,630,000 in origination value.
Applicant Income
First South Financial lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k-75k, with 33 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 156 | $26,280,000 | $168,462 | $0 | 0.00% |
First South Financial lent most frequently to those with DTI ratios of Exempt%, with 156 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications57.39%
First South Financial has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination53.21%
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 | 156 | $26,280,000 | $168,462 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 156 | $26,280,000 | $168,462 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST FINANCIAL BANCORP | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |