American Pacific Mortgage Corporation

Roseville, CA 95661

LEI: 549300KIOYNU323LVJ37

Tax ID: 68-0382674

2019 Data | 2018 Data


Overview

American Pacific Mortgage Corporation is a mid-sized mortgage company specializing in Home Purchase 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, Los Angeles, and Riverside 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

20,869

Origination Dollar Volume (All Markets)

$6,959,975,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 14,225 $4,920,835,000 $345,929
FHA 3,802 $1,059,070,000 $278,556
VA 2,516 $915,720,000 $363,959
USDA 326 $64,350,000 $197,393

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 16,339 $5,452,775,000 $333,728
Refi 1,261 $434,925,000 $344,905
Cash Out Refi 3,269 $1,072,275,000 $328,013

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 2,311 $727,085,000 $314,619
SEATTLE-BELLEVUE-KENT, WA 1,596 $612,090,000 $383,515
OAKLAND-BERKELEY-LIVERMORE, CA 859 $493,295,000 $574,267
Outside of Metro Areas 1,727 $407,505,000 $235,961
LOS ANGELES-LONG BEACH-GLENDALE, CA 779 $343,325,000 $440,725
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 990 $281,990,000 $284,838
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 753 $253,385,000 $336,501
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 417 $247,365,000 $593,201
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 289 $205,245,000 $710,190
URBAN HONOLULU, HI 400 $204,780,000 $511,950
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 433 $198,195,000 $457,725
DENVER-AURORA-LAKEWOOD, CO 518 $167,750,000 $323,842
STOCKTON, CA 531 $164,095,000 $309,030
MODESTO, CA 597 $159,465,000 $267,111
VALLEJO, CA 405 $152,225,000 $375,864
SALT LAKE CITY, UT 529 $149,495,000 $282,599
TACOMA-LAKEWOOD, WA 455 $138,995,000 $305,484
SAN RAFAEL, CA 206 $135,070,000 $655,680
PHOENIX-MESA-CHANDLER, AZ 529 $132,745,000 $250,936
REDDING, CA 486 $119,660,000 $246,214
SANTA ROSA-PETALUMA, CA 249 $115,495,000 $463,835
OGDEN-CLEARFIELD, UT 430 $107,530,000 $250,070
ANAHEIM-SANTA ANA-IRVINE, CA 206 $102,370,000 $496,942
PROVO-OREM, UT 319 $87,765,000 $275,125
BOISE CITY, ID 372 $84,810,000 $227,984
SAN ANTONIO-NEW BRAUNFELS, TX 379 $84,335,000 $222,520
SALINAS, CA 189 $81,585,000 $431,667
FRESNO, CA 359 $80,765,000 $224,972
SANTA CRUZ-WATSONVILLE, CA 131 $70,525,000 $538,359
MERCED, CA 228 $49,270,000 $216,096
BAKERSFIELD, CA 201 $47,765,000 $237,637
LAS VEGAS-HENDERSON-PARADISE, NV 186 $46,250,000 $248,656
SPOKANE-SPOKANE VALLEY, WA 208 $45,400,000 $218,269
YUBA CITY, CA 154 $39,930,000 $259,286
BREMERTON-SILVERDALE-PORT ORCHARD, WA 106 $33,730,000 $318,208
SANTA MARIA-SANTA BARBARA, CA 66 $33,070,000 $501,061
BEND, OR 113 $32,355,000 $286,327
SALEM, OR 132 $31,730,000 $240,379
SAN LUIS OBISPO-PASO ROBLES, CA 73 $30,205,000 $413,767
MADERA, CA 138 $28,840,000 $208,986
ALBUQUERQUE, NM 150 $28,270,000 $188,467
CHICO, CA 111 $26,665,000 $240,225
OXNARD-THOUSAND OAKS-VENTURA, CA 57 $26,055,000 $457,105
OLYMPIA-LACEY-TUMWATER, WA 85 $23,445,000 $275,824
HANFORD-CORCORAN, CA 101 $22,105,000 $218,861
RENO, NV 73 $20,965,000 $287,192
COEUR D'ALENE, ID 77 $18,305,000 $237,727
POCATELLO, ID 105 $17,275,000 $164,524
NAPA, CA 33 $15,495,000 $469,545
KENNEWICK-RICHLAND, WA 58 $14,280,000 $246,207
KANSAS CITY, MO-KS 70 $12,390,000 $177,000
GREELEY, CO 41 $12,025,000 $293,293
AMES, IA 62 $11,610,000 $187,258
ANCHORAGE, AK 44 $11,550,000 $262,500
ST. LOUIS, MO-IL 70 $11,160,000 $159,429
MOUNT VERNON-ANACORTES, WA 43 $10,945,000 $254,535
AUSTIN-ROUND ROCK-GEORGETOWN, TX 30 $8,600,000 $286,667
YAKIMA, WA 46 $8,390,000 $182,391
WENATCHEE, WA 24 $7,810,000 $325,417
IDAHO FALLS, ID 36 $7,510,000 $208,611
BELLINGHAM, WA 27 $7,465,000 $276,481
ALBANY-LEBANON, OR 28 $7,240,000 $258,571
Outside of Metro Areas 30 $7,090,000 $236,333
LOGAN, UT-ID 29 $6,215,000 $214,310
ST. GEORGE, UT 19 $5,975,000 $314,474
TUCSON, AZ 29 $5,925,000 $204,310
VISALIA, CA 30 $5,880,000 $196,000
COLORADO SPRINGS, CO 22 $5,270,000 $239,545
LONGVIEW, WA 17 $4,245,000 $249,706
LAKE HAVASU CITY-KINGMAN, AZ 18 $3,730,000 $207,222
FORT COLLINS, CO 15 $3,645,000 $243,000
BOULDER, CO 12 $3,580,000 $298,333
EUGENE-SPRINGFIELD, OR 15 $3,575,000 $238,333
KAHULUI-WAILUKU-LAHAINA, HI 7 $3,515,000 $502,143
MEDFORD, OR 11 $3,245,000 $295,000
DALLAS-PLANO-IRVING, TX 15 $3,155,000 $210,333
FORT WORTH-ARLINGTON-GRAPEVINE, TX 12 $2,760,000 $230,000
DES MOINES-WEST DES MOINES, IA 15 $2,725,000 $181,667
LEWISTON, ID-WA 15 $2,685,000 $179,000
CARSON CITY, NV 10 $2,560,000 $256,000
PUEBLO, CO 13 $2,335,000 $179,615
TAMPA-ST. PETERSBURG-CLEARWATER, FL 7 $2,195,000 $313,571
KILLEEN-TEMPLE, TX 11 $1,855,000 $168,636
GRANTS PASS, OR 6 $1,710,000 $285,000
WALLA WALLA, WA 5 $1,635,000 $327,000
SANTA FE, NM 8 $1,510,000 $188,750
BILLINGS, MT 5 $1,275,000 $255,000
WACO, TX 7 $1,255,000 $179,286
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 5 $1,105,000 $221,000
FLAGSTAFF, AZ 5 $1,055,000 $211,000
TWIN FALLS, ID 5 $925,000 $185,000
EL CENTRO, CA 3 $815,000 $271,667
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 3 $655,000 $218,333
GRAND JUNCTION, CO 2 $650,000 $325,000
CORVALLIS, OR 2 $630,000 $315,000
YUMA, AZ 2 $600,000 $300,000
CHEYENNE, WY 1 $595,000 $595,000
JACKSONVILLE, FL 2 $510,000 $255,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 2 $480,000 $240,000
OKLAHOMA CITY, OK 2 $330,000 $165,000
TYLER, TX 2 $320,000 $160,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $315,000 $315,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $295,000 $295,000
PEORIA, IL 1 $295,000 $295,000
MISSOULA, MT 1 $275,000 $275,000
CAPE GIRARDEAU, MO-IL 2 $270,000 $135,000
SIERRA VISTA-DOUGLAS, AZ 2 $260,000 $130,000
LAREDO, TX 1 $245,000 $245,000
WICHITA, KS 1 $235,000 $235,000
IOWA CITY, IA 1 $225,000 $225,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 1 $205,000 $205,000
SHERMAN-DENISON, TX 1 $205,000 $205,000
CORPUS CHRISTI, TX 2 $180,000 $90,000
ENID, OK 1 $175,000 $175,000
LONGVIEW, TX 1 $175,000 $175,000
EL PASO, TX 1 $155,000 $155,000
LAS CRUCES, NM 1 $145,000 $145,000
LUBBOCK, TX 1 $135,000 $135,000
JEFFERSON CITY, MO 1 $135,000 $135,000
ABILENE, TX 1 $125,000 $125,000
BEAUMONT-PORT ARTHUR, TX 1 $115,000 $115,000
LAKELAND-WINTER HAVEN, FL 1 $115,000 $115,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $95,000 $95,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $95,000 $95,000
DULUTH, MN-WI 2 $90,000 $45,000
SPRINGFIELD, MO 1 $85,000 $85,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $75,000 $75,000

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
3-4% 823 $274,825,000 $333,931
4-5% 13,169 $4,573,375,000 $347,283
5-6% 6,570 $2,022,120,000 $307,781
6-7% 235 $68,185,000 $290,149
7-8% 50 $16,810,000 $336,200
Over 8% 19 $4,635,000 $243,947

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 500 $38,260,000 $76,520
$100k-200k 3,865 $611,885,000 $158,314
$200k-400k 11,006 $3,196,430,000 $290,426
$400k-600k 3,876 $1,834,380,000 $473,266
$600k-1000k 1,384 $979,340,000 $707,616
$Over $1MM 238 $299,680,000 $1,259,160

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% 749 $187,865,000 $250,821
40-60% 1,931 $631,785,000 $327,180
60-80% 6,192 $2,288,000,000 $369,509
80-100% 11,241 $3,596,225,000 $319,920
Over 100% 592 $235,920,000 $398,514
Under 20% 164 $20,180,000 $123,049

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 4,745 $1,793,255,000 $377,925
$150k-250k 2,806 $1,333,490,000 $475,228
$50k-75k 5,158 $1,273,860,000 $246,968
$50k-or less 2,495 $421,785,000 $169,052
$75k-100k 4,392 $1,362,900,000 $310,314
$Over $250k 1,098 $712,590,000 $648,989

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 16,256 $5,232,080,000 $321,855
Not provided 1,847 $720,345,000 $390,008
Asian 1,251 $482,545,000 $385,727
Black 1,036 $363,380,000 $350,753
American Indian 220 $67,160,000 $305,273
Native Hawaiian 160 $54,590,000 $341,188
Asian Indian 29 $13,825,000 $476,724
Other Asian 20 $7,500,000 $375,000
Filipino 17 $5,775,000 $339,706
Chinese 11 $4,435,000 $403,182
Other Pacific Islander 7 $2,185,000 $312,143
Samoan 3 $1,255,000 $418,333
Japanese 3 $1,235,000 $411,667
Vietnamese 3 $1,185,000 $395,000
Korean 2 $1,110,000 $555,000
Native Hawiian 2 $730,000 $365,000
Guamanian 2 $640,000 $320,000

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 20,869 $6,959,975,000 $333,508

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,702 $549,770,000 $323,014
$1k-2k 8,638 $2,879,960,000 $333,406
$2k-3k 3,365 $1,000,735,000 $297,395
$3k-4k 2,818 $965,760,000 $342,711
$5k+ 1,989 $928,615,000 $466,875

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 574 $108,530,000 $189,077
Single Family (1-4 Units):Site-Built 20,295 $6,851,445,000 $337,593