First South Financial Mortgage Rates, Fees & Info

Bartlett, TN

LEI: 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

156

Origination Dollar Volume (All Markets)

$26,280,000

Top 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%
First South Financial's top markets include Memphis, Nashville, Dyersburg, Jackson, and Knoxville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 60 $8,630,000 $143,833 $0 0.00%
    $100,000 or less 50 $3,480,000 $69,600 $0 0.00%
    $200k-400k 39 $10,035,000 $257,308 $0 0.00%
    $600k-1MM 4 $2,730,000 $682,500 $0 0.00%
    $400k-600k 3 $1,405,000 $468,333 $0 0.00%

    2019 saw First South Financial place emphasis on $100k-200k loans with 60 originations, totaling $8,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $7,230,000 $172,143 $0 0.00%
    $50k-75k 33 $4,145,000 $125,606 $0 0.00%
    $75k-100k 33 $4,915,000 $148,939 $0 0.00%
    $50k or less 23 $1,975,000 $85,870 $0 0.00%
    $150k-250k 18 $4,460,000 $247,778 $0 0.00%
    $250k+ 6 $3,480,000 $580,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 120 $19,800,000 $165,000 $0 0.00%
    Black 17 $3,075,000 $180,882 $0 0.00%
    Not provided 11 $2,045,000 $185,909 $0 0.00%
    Asian 8 $1,360,000 $170,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    57.39%

    First South Financial has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    53.21%

    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%