Bank Of Clarendon Mortgage Rates, Fees & Info

MANNING, SC

LEI: 549300LPLWFD36TB5P09

Tax ID: 57-0142030

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Mortgage Data

Review & Overview

Bank Of Clarendon is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Clarendon has a high proportion of conventional loans. Their top markets by origination volume include: Sumter, Florence, Myrtle Beach, Columbia, and Orangeburg among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Clarendon has an above average approval rate when compared to the average across all lenders.

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Originations

66

Origination Dollar Volume (All Markets)

$5,790,000

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
SUMTER, SC (FHA|USDA|VA) 61 $5,215,000 $85,492 $0 0.00%
FLORENCE, SC (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
COLUMBIA, SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Orangeburg, SC (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Bank Of Clarendon's top markets include Sumter, Florence, Myrtle Beach, Columbia, and Orangeburg among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $5,790,000 $87,727 $0 0.00%

    For 2018, Bank Of Clarendon's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $3,025,000 $97,581 $0 0.00%
    Refi 21 $2,015,000 $95,952 $0 0.00%
    Cash Out Refi 9 $535,000 $59,444 $0 0.00%
    Home Improvement 5 $215,000 $43,000 $0 0.00%

    For 2018, Bank Of Clarendon's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 66 $5,790,000 $87,727 $0 0.00%

    For 2018, Bank Of Clarendon's most frequently cited loan duration was Other, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $1,930,000 $48,250 $0 0.00%
    $100k-200k 23 $3,155,000 $137,174 $0 0.00%
    $200k-400k 3 $705,000 $235,000 $0 0.00%

    2018 saw Bank Of Clarendon place emphasis on $100,000 or less loans with 40 originations, totaling $1,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 13 $1,605,000 $123,462 $0 0.00%
    $50k-75k 12 $880,000 $73,333 $0 0.00%
    $50k or less 10 $430,000 $43,000 $0 0.00%
    $100k-150k 8 $800,000 $100,000 $0 0.00%
    $75k-100k 8 $630,000 $78,750 $0 0.00%
    $150k-250k 6 $510,000 $85,000 $0 0.00%

    Bank Of Clarendon lent most frequently to those with incomes in the $250k+ range, with 13 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 66 $5,790,000 $87,727 $0 0.00%

    Bank Of Clarendon lent most frequently to those with DTI ratios of Exempt%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $4,350,000 $90,625 $0 0.00%
    Not applicable 8 $770,000 $96,250 $0 0.00%
    Black 8 $500,000 $62,500 $0 0.00%
    Asian 2 $170,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Bank Of Clarendon has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 66 $5,790,000 $87,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $190,000 $95,000
    Single Family (1-4 Units):Site-Built 64 $5,600,000 $87,500

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%