Pacwest Funding Mortgage Rates, Fees & Info
Eugene, ORLEI: 549300KBCEYCLANGUM06
Tax ID: 91-1842269
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Mortgage Data
Review & Overview
Pacwest Funding is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Pacwest Funding has a high proportion of conventional loans. Their top markets by origination volume include: Kennewick, Portland, Eugene, Albany, and Salem among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Pacwest Funding has an above 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
30Origination Dollar Volume (All Markets)
$18,970,000Top 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 |
|---|---|---|---|---|---|
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $4,795,000 | $4,795,000 | $0 | 11.99% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 5 | $3,905,000 | $781,000 | $0 | 11.99% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 5 | $3,215,000 | $643,000 | $0 | 12.39% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 5 | $2,225,000 | $445,000 | $0 | 11.74% |
| SALEM, OR (FHA|USDA|VA) | 3 | $1,525,000 | $508,333 | $0 | 11.99% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $0 | 11.99% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 11.99% |
| BEND, OR (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 11.99% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 11.99% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 11.99% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 11.99% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 11.99% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 13.49% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 13.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $18,970,000 | $632,333 | $0 | 12.20% |
For 2023, Pacwest Funding's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2023, Pacwest Funding's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 19 | $6,225,000 | $327,632 | $0 | 12.36% |
| Other | 11 | $12,745,000 | $1,158,636 | $0 | 11.89% |
For 2023, Pacwest Funding's most frequently cited loan duration was 1 Year, with 19 originations. The 2nd most popular length was Other, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 29 | $18,765,000 | $647,069 |
During 2023, Pacwest Funding's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 29 originations.
Loan Sizing
2023 saw Pacwest Funding place emphasis on $200k-400k loans with 12 originations, totaling $3,500,000 in origination value.
Applicant Income
Pacwest Funding lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
Pacwest Funding lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.12%
Pacwest Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.00%
Pacwest Funding 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 |
|---|---|---|---|
| NA | 30 | $18,970,000 | $632,333 |