American Pacific Mortgage Corporation

Roseville, CA 95661

LEI: 549300KIOYNU323LVJ37

Tax ID: 68-0382674

2019 Data *Active* | 2018 Data


Overview

American Pacific Mortgage Corporation is a large mortgage company specializing in Home Purchase and Refi loans. American Pacific Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Sacramento, Seattle, Oakland, Riverside, and Los Angeles among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. American Pacific Mortgage Corporation is typically a medium-low/ fee lendor.


Originations

24,130

Origination Dollar Volume (All Markets)

$8,674,460,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 15,337 $5,656,665,000 $368,825
FHA 4,233 $1,270,765,000 $300,204
VA 4,298 $1,689,290,000 $393,041
USDA 262 $57,740,000 $220,382

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 15,178 $5,301,030,000 $349,257
Home Improvement 4 $310,000 $77,500
Refi 5,528 $2,233,280,000 $403,994
Cash Out Refi 3,420 $1,139,840,000 $333,287

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
SACRAMENTO-ROSEVILLE-FOLSOM, CA 2,288 $776,790,000 $339,506
SEATTLE-BELLEVUE-KENT, WA 1,805 $725,215,000 $401,781
OAKLAND-BERKELEY-LIVERMORE, CA 1,059 $651,405,000 $615,113
Outside of Metro Areas 1,899 $486,295,000 $256,080
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,336 $423,730,000 $317,163
LOS ANGELES-LONG BEACH-GLENDALE, CA 913 $417,895,000 $457,716
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 841 $397,855,000 $473,074
URBAN HONOLULU, HI 690 $384,720,000 $557,565
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 487 $296,385,000 $608,593
SAN ANTONIO-NEW BRAUNFELS, TX 995 $244,325,000 $245,553
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 330 $239,210,000 $724,879
STOCKTON, CA 640 $215,150,000 $336,172
SAN RAFAEL, CA 301 $204,735,000 $680,183
PHOENIX-MESA-CHANDLER, AZ 733 $192,485,000 $262,599
MODESTO, CA 681 $191,175,000 $280,727
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 559 $188,775,000 $337,701
VALLEJO, CA 448 $178,970,000 $399,487
TACOMA-LAKEWOOD, WA 456 $164,170,000 $360,022
DENVER-AURORA-LAKEWOOD, CO 472 $157,590,000 $333,877
OGDEN-CLEARFIELD, UT 534 $148,250,000 $277,622
ANAHEIM-SANTA ANA-IRVINE, CA 278 $145,640,000 $523,885
REDDING, CA 526 $138,040,000 $262,433
SANTA ROSA-PETALUMA, CA 261 $123,305,000 $472,433
SALT LAKE CITY, UT 396 $118,010,000 $298,005
BOISE CITY, ID 418 $107,990,000 $258,349
PROVO-OREM, UT 345 $101,305,000 $293,638
FRESNO, CA 314 $77,700,000 $247,452
SALINAS, CA 162 $70,800,000 $437,037
BAKERSFIELD, CA 260 $68,620,000 $263,923
BEND, OR 181 $60,665,000 $335,166
NAPA, CA 103 $52,075,000 $505,583
SPOKANE-SPOKANE VALLEY, WA 195 $46,955,000 $240,795
SANTA CRUZ-WATSONVILLE, CA 82 $46,950,000 $572,561
MERCED, CA 179 $44,295,000 $247,458
OXNARD-THOUSAND OAKS-VENTURA, CA 92 $42,540,000 $462,391
YUBA CITY, CA 150 $39,040,000 $260,267
OLYMPIA-LACEY-TUMWATER, WA 126 $38,510,000 $305,635
BREMERTON-SILVERDALE-PORT ORCHARD, WA 111 $35,995,000 $324,279
SAN LUIS OBISPO-PASO ROBLES, CA 81 $35,295,000 $435,741
SALEM, OR 142 $35,160,000 $247,606
SANTA MARIA-SANTA BARBARA, CA 64 $33,650,000 $525,781
HANFORD-CORCORAN, CA 134 $31,670,000 $236,343
LAS VEGAS-HENDERSON-PARADISE, NV 103 $28,855,000 $280,146
YAKIMA, WA 129 $26,745,000 $207,326
RENO, NV 85 $24,235,000 $285,118
KENNEWICK-RICHLAND, WA 86 $21,410,000 $248,953
COEUR D'ALENE, ID 83 $21,165,000 $255,000
POCATELLO, ID 119 $21,035,000 $176,765
MADERA, CA 87 $20,485,000 $235,460
KANSAS CITY, MO-KS 97 $18,715,000 $192,938
LEWISTON, ID-WA 93 $18,265,000 $196,398
MOUNT VERNON-ANACORTES, WA 60 $18,220,000 $303,667
VISALIA, CA 76 $17,740,000 $233,421
ALBUQUERQUE, NM 82 $16,430,000 $200,366
AMES, IA 78 $16,290,000 $208,846
KILLEEN-TEMPLE, TX 84 $15,810,000 $188,214
ALBANY-LEBANON, OR 57 $14,635,000 $256,754
PRESCOTT VALLEY-PRESCOTT, AZ 50 $12,750,000 $255,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 41 $12,345,000 $301,098
GREELEY, CO 40 $12,190,000 $304,750
CORVALLIS, OR 35 $11,165,000 $319,000
TUCSON, AZ 48 $10,500,000 $218,750
KAHULUI-WAILUKU-LAHAINA, HI 22 $10,400,000 $472,727
CHICO, CA 45 $9,635,000 $214,111
BELLINGHAM, WA 31 $9,345,000 $301,452
COLORADO SPRINGS, CO 22 $7,360,000 $334,545
WENATCHEE, WA 24 $6,990,000 $291,250
ST. GEORGE, UT 24 $6,760,000 $281,667
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 24 $6,460,000 $269,167
LOGAN, UT-ID 27 $6,425,000 $237,963
EUGENE-SPRINGFIELD, OR 19 $5,235,000 $275,526
ST. LOUIS, MO-IL 34 $4,860,000 $142,941
DALLAS-PLANO-IRVING, TX 16 $4,660,000 $291,250
FORT WORTH-ARLINGTON-GRAPEVINE, TX 15 $4,235,000 $282,333
LONGVIEW, WA 15 $3,965,000 $264,333
FLAGSTAFF, AZ 13 $3,715,000 $285,769
BOULDER, CO 12 $3,710,000 $309,167
FORT COLLINS, CO 12 $3,650,000 $304,167
LAKE HAVASU CITY-KINGMAN, AZ 18 $3,390,000 $188,333
IDAHO FALLS, ID 13 $3,295,000 $253,462
GRANTS PASS, OR 10 $2,680,000 $268,000
DES MOINES-WEST DES MOINES, IA 11 $2,165,000 $196,818
CORPUS CHRISTI, TX 7 $1,705,000 $243,571
MEDFORD, OR 6 $1,680,000 $280,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 2 $1,500,000 $750,000
WALLA WALLA, WA 6 $1,470,000 $245,000
EL CENTRO, CA 6 $1,260,000 $210,000
ORLANDO-KISSIMMEE-SANFORD, FL 5 $1,155,000 $231,000
CINCINNATI, OH-KY-IN 4 $1,150,000 $287,500
PUEBLO, CO 4 $1,060,000 $265,000
TWIN FALLS, ID 4 $910,000 $227,500
EL PASO, TX 6 $800,000 $133,333
MCALLEN-EDINBURG-MISSION, TX 4 $760,000 $190,000
WACO, TX 4 $720,000 $180,000
CARSON CITY, NV 2 $660,000 $330,000
DAYTON-KETTERING, OH 3 $645,000 $215,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 2 $640,000 $320,000
COLLEGE STATION-BRYAN, TX 3 $625,000 $208,333
YUMA, AZ 3 $605,000 $201,667
GRAND JUNCTION, CO 3 $595,000 $198,333
SANTA FE, NM 3 $565,000 $188,333
DETROIT-DEARBORN-LIVONIA, MI 1 $545,000 $545,000
MANCHESTER-NASHUA, NH 1 $475,000 $475,000
NORTH PORT-SARASOTA-BRADENTON, FL 2 $410,000 $205,000
CHICAGO-NAPERVILLE-EVANSTON, IL 1 $405,000 $405,000
BROWNSVILLE-HARLINGEN, TX 2 $390,000 $195,000
LAWRENCE, KS 2 $370,000 $185,000
KNOXVILLE, TN 2 $360,000 $180,000
IOWA CITY, IA 2 $340,000 $170,000
SPRINGFIELD, MO 2 $330,000 $165,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 1 $305,000 $305,000
CEDAR RAPIDS, IA 1 $295,000 $295,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1 $285,000 $285,000
NAPLES-MARCO ISLAND, FL 1 $275,000 $275,000
CAPE GIRARDEAU, MO-IL 3 $265,000 $88,333
MISSOULA, MT 1 $265,000 $265,000
BILLINGS, MT 1 $265,000 $265,000
MANHATTAN, KS 1 $255,000 $255,000
LONGVIEW, TX 2 $230,000 $115,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1 $225,000 $225,000
ABILENE, TX 1 $225,000 $225,000
WORCESTER, MA-CT 1 $225,000 $225,000
WICHITA, KS 1 $215,000 $215,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $215,000 $215,000
TULSA, OK 1 $175,000 $175,000
CHEYENNE, WY 1 $145,000 $145,000
GREAT FALLS, MT 1 $145,000 $145,000
DULUTH, MN-WI 1 $135,000 $135,000
LAKELAND-WINTER HAVEN, FL 1 $125,000 $125,000
VICTORIA, TX 1 $125,000 $125,000
TOPEKA, KS 1 $115,000 $115,000
TYLER, TX 1 $105,000 $105,000
SIERRA VISTA-DOUGLAS, AZ 1 $95,000 $95,000
WATERLOO-CEDAR FALLS, IA 1 $85,000 $85,000
JACKSONVILLE, FL 1 $75,000 $75,000
JANESVILLE-BELOIT, WI 1 $75,000 $75,000
MILWAUKEE-WAUKESHA, WI 1 $65,000 $65,000
HOMOSASSA SPRINGS, FL 1 $65,000 $65,000

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
2.5-3% 279 $117,225,000 $420,161
3-4% 10,638 $4,058,850,000 $381,543
4-5% 10,540 $3,685,360,000 $349,655
5-6% 2,471 $759,275,000 $307,274
6-7% 164 $45,300,000 $276,220
7-8% 29 $6,815,000 $235,000
Over 8% 9 $1,635,000 $181,667

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 373 $28,815,000 $77,252
$100k-200k 3,595 $575,155,000 $159,987
$200k-400k 12,372 $3,645,130,000 $294,627
$400k-600k 5,522 $2,632,960,000 $476,813
$600k-1000k 1,954 $1,394,050,000 $713,434
$Over $1MM 314 $398,350,000 $1,268,631

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% 767 $200,045,000 $260,815
40-60% 2,199 $769,745,000 $350,043
60-80% 6,538 $2,549,410,000 $389,937
80-100% 13,598 $4,779,180,000 $351,462
Over 100% 907 $356,225,000 $392,751
Under 20% 121 $19,855,000 $164,091

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
$100k-150k 5,628 $2,196,980,000 $390,366
$150k-250k 3,522 $1,736,490,000 $493,041
$50k-75k 5,250 $1,340,500,000 $255,333
$50k-or less 2,251 $399,595,000 $177,519
$75k-100k 4,863 $1,574,215,000 $323,713
$Over $250k 1,214 $833,780,000 $686,804

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 18,497 $6,393,745,000 $345,664
Not provided 2,644 $1,059,330,000 $400,654
Asian 1,224 $548,590,000 $448,194
Black 1,294 $492,370,000 $380,502
American Indian 231 $78,585,000 $340,195
Native Hawaiian 172 $71,330,000 $414,709
Filipino 18 $8,420,000 $467,778
Other Asian 12 $4,270,000 $355,833
Asian Indian 6 $3,550,000 $591,667
Other Pacific Islander 8 $2,880,000 $360,000
Chinese 6 $2,540,000 $423,333
Vietnamese 5 $2,415,000 $483,000
Korean 3 $1,855,000 $618,333
Samoan 4 $1,770,000 $442,500
Native Hawiian 3 $1,405,000 $468,333
Japanese 3 $1,405,000 $468,333

Approval Rates

Total approvals of all applications
93.39%

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
76.17%

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 24,130 $8,674,460,000 $359,489

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,800 $947,730,000 $338,475
$1k-2k 9,900 $3,729,480,000 $376,715
$2k-3k 3,580 $1,116,320,000 $311,821
$3k-4k 3,729 $1,248,695,000 $334,861
$5k+ 3,050 $1,327,580,000 $435,272

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
Single Family (1-4 Units):Manufactured 638 $134,940,000 $211,505
Single Family (1-4 Units):Site-Built 23,492 $8,539,520,000 $363,508