Western Express Lending Mortgage Rates, Fees & Info

LAKE FOREST, CA

LEI: 549300LTT1PNSPD2JT50

Tax ID: 47-5403472

4.5 stars - out of 5 stars, based on 46 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Western Express Lending is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Western Express Lending 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 Los Angeles, Riverside, Las Vegas, San Diego, and Seattle among others. Western Express Lending has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Western Express Lending is typically an average fee lendor.


Originations

2,135

Origination Dollar Volume (All Markets)

$770,505,000
Show all (10) awards

Relative Rate

Western Express Lending's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Western Express Lending's average total fees for a 30 year fixed rate mortgage are $5,635.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 543 $254,135,000 $468,020 $5,540 2.91%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 370 $133,960,000 $362,054 $5,211 2.91%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 231 $60,355,000 $261,277 $5,772 3.30%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 99 $41,145,000 $415,606 $7,155 3.01%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 64 $23,420,000 $365,938 $5,104 2.87%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 41 $20,655,000 $503,780 $5,464 2.78%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 50 $18,080,000 $361,600 $5,522 2.83%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 40 $10,730,000 $268,250 $5,214 2.87%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 29 $9,145,000 $315,345 $4,301 2.89%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 24 $9,000,000 $375,000 $4,934 3.10%
BAKERSFIELD, CA (FHA|USDA|VA) 35 $8,555,000 $244,429 $4,891 2.82%
FRESNO, CA (FHA|USDA|VA) 29 $8,315,000 $286,724 $5,266 2.96%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 17 $7,855,000 $462,059 $9,435 2.94%
Outside of Metro Areas 32 $7,830,000 $244,688 $4,718 2.83%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 15 $6,715,000 $447,667 $5,210 2.99%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 29 $6,615,000 $228,103 $5,502 2.92%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 14 $5,760,000 $411,429 $3,418 2.92%
RENO, NV (FHA|USDA|VA) 14 $5,170,000 $369,286 $3,954 3.05%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 18 $5,140,000 $285,556 $6,012 2.93%
VALLEJO, CA (FHA|USDA|VA) 13 $4,805,000 $369,615 $3,090 2.84%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 9 $4,455,000 $495,000 $4,819 2.69%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $4,425,000 $340,385 $5,221 2.91%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 14 $4,280,000 $305,714 $5,314 2.78%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $3,880,000 $323,333 $4,667 3.02%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 11 $3,165,000 $287,727 $5,672 3.01%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 14 $3,160,000 $225,714 $4,191 3.09%
STOCKTON, CA (FHA|USDA|VA) 12 $3,120,000 $260,000 $4,266 2.67%
VISALIA, CA (FHA|USDA|VA) 15 $3,045,000 $203,000 $4,966 2.82%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $2,975,000 $330,556 $4,773 3.03%
BOISE CITY, ID (FHA|USDA|VA) 9 $2,575,000 $286,111 $4,476 2.94%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $2,525,000 $360,714 $6,218 3.12%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $2,520,000 $420,000 $3,609 2.96%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 7 $2,435,000 $347,857 $5,494 3.11%
SALT LAKE CITY, UT (FHA|USDA|VA) 5 $2,045,000 $409,000 $5,113 2.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 7 $2,035,000 $290,714 $6,448 2.94%
SALINAS, CA (FHA|USDA|VA) 5 $2,005,000 $401,000 $2,720 2.67%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 5 $1,975,000 $395,000 $3,162 2.67%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,940,000 $323,333 $6,430 2.79%
RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,925,000 $385,000 $3,694 3.32%
PITTSBURGH, PA (FHA|USDA|VA) 6 $1,850,000 $308,333 $4,100 2.31%
PROVO-OREM, UT (FHA|USDA|VA) 7 $1,795,000 $256,429 $2,468 2.79%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $1,760,000 $440,000 $3,492 2.68%
MODESTO, CA (FHA|USDA|VA) 6 $1,690,000 $281,667 $5,880 2.63%
CHICO, CA (FHA|USDA|VA) 5 $1,685,000 $337,000 $3,879 3.23%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,640,000 $410,000 $3,009 2.58%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,500,000 $375,000 $5,015 3.91%
Outside of Metro Areas 3 $1,465,000 $488,333 $4,257 3.29%
PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,435,000 $287,000 $3,518 2.97%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 4 $1,430,000 $357,500 $2,405 2.62%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,415,000 $283,000 $5,547 3.37%
Truckee-Grass Valley, CA (FHA|USDA|VA) 4 $1,220,000 $305,000 $3,705 2.84%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $1,145,000 $381,667 $8,850 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,110,000 $277,500 $4,381 3.12%
Pahrump, NV (FHA|USDA|VA) 5 $1,105,000 $221,000 $4,793 3.20%
Elko, NV (FHA|USDA|VA) 4 $1,040,000 $260,000 $5,182 2.69%
TUCSON, AZ (FHA|USDA|VA) 2 $1,020,000 $510,000 $5,098 3.44%
Gardnerville Ranchos, NV (FHA|USDA|VA) 3 $975,000 $325,000 $3,680 3.16%
REDDING, CA (FHA|USDA|VA) 3 $935,000 $311,667 $4,268 2.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $910,000 $227,500 $3,396 2.97%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 3 $905,000 $301,667 $4,991 3.08%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $890,000 $222,500 $4,610 2.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $885,000 $295,000 $3,361 2.66%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $885,000 $295,000 $3,635 3.42%
MADERA, CA (FHA|USDA|VA) 3 $885,000 $295,000 $8,886 2.79%
LANCASTER, PA (FHA|USDA|VA) 4 $880,000 $220,000 $4,006 2.81%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $870,000 $217,500 $4,804 2.97%
READING, PA (FHA|USDA|VA) 3 $865,000 $288,333 $5,104 3.25%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $845,000 $281,667 $3,178 3.00%
GAINESVILLE, FL (FHA|USDA|VA) 4 $840,000 $210,000 $4,317 2.84%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $780,000 $195,000 $3,762 2.59%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 3 $745,000 $248,333 $4,692 2.63%
NAPA, CA (FHA|USDA|VA) 2 $720,000 $360,000 $3,784 2.75%
MEDFORD, OR (FHA|USDA|VA) 3 $685,000 $228,333 $5,990 2.83%
YUBA CITY, CA (FHA|USDA|VA) 2 $640,000 $320,000 $4,207 3.25%
GRANTS PASS, OR (FHA|USDA|VA) 2 $640,000 $320,000 $4,871 2.93%
MERCED, CA (FHA|USDA|VA) 2 $630,000 $315,000 $9,587 2.63%
SALEM, OR (FHA|USDA|VA) 2 $620,000 $310,000 $6,371 3.43%
GREELEY, CO (FHA|USDA|VA) 2 $580,000 $290,000 $5,086 3.19%
BELLINGHAM, WA (FHA|USDA|VA) 2 $550,000 $275,000 $6,660 2.99%
ST. GEORGE, UT (FHA|USDA|VA) 1 $535,000 $535,000 $3,390 2.88%
Clearlake, CA (FHA|USDA|VA) 2 $510,000 $255,000 $5,551 2.94%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $510,000 $255,000 $3,117 2.99%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,001 3.19%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $500,000 $250,000 $3,328 2.94%
BEND, OR (FHA|USDA|VA) 2 $500,000 $250,000 $3,730 3.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $500,000 $250,000 $6,525 3.06%
BAY CITY, MI (FHA|USDA|VA) 1 $485,000 $485,000 $4,728 2.88%
KNOXVILLE, TN (FHA|USDA|VA) 3 $475,000 $158,333 $3,511 3.67%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $470,000 $235,000 $5,370 2.49%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $460,000 $230,000 $4,890 3.06%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $450,000 $225,000 $4,553 2.56%
Nacogdoches, TX (FHA|USDA|VA) 2 $450,000 $225,000 $9,363 3.63%
FORT COLLINS, CO (FHA|USDA|VA) 1 $445,000 $445,000 $11,288 2.38%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $415,000 $415,000 $2,751 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $415,000 $138,333 $4,112 3.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $410,000 $205,000 $6,278 2.81%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $395,000 $395,000 $6,395 3.38%
WACO, TX (FHA|USDA|VA) 2 $390,000 $195,000 $4,701 3.63%
YAKIMA, WA (FHA|USDA|VA) 2 $390,000 $195,000 $7,576 3.00%
EL PASO, TX (FHA|USDA|VA) 2 $390,000 $195,000 $3,680 3.69%
LUBBOCK, TX (FHA|USDA|VA) 2 $390,000 $195,000 $6,212 2.81%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $385,000 $385,000 $3,679 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $380,000 $190,000 $3,099 2.93%
LOGAN, UT-ID (FHA|USDA|VA) 1 $355,000 $355,000 $3,511 2.99%
MIDLAND, MI (FHA|USDA|VA) 1 $345,000 $345,000 $4,206 3.13%
Newport, OR (FHA|USDA|VA) 1 $345,000 $345,000 $3,622 2.38%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $340,000 $170,000 $4,082 3.06%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $335,000 $335,000 $10,258 2.75%
Morehead City, NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,004 2.88%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $335,000 $335,000 $5,078 3.38%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $330,000 $165,000 $3,200 3.06%
BILLINGS, MT (FHA|USDA|VA) 1 $325,000 $325,000 $6,571 2.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $325,000 $325,000 $3,580 2.38%
Cedar City, UT (FHA|USDA|VA) 1 $315,000 $315,000 $5,872 2.75%
EL CENTRO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $3,940 3.25%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $305,000 $305,000 $5,166 2.99%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $305,000 $305,000 $2,759 2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,428 2.99%
Granbury, TX (FHA|USDA|VA) 1 $295,000 $295,000 $4,883 3.25%
Aberdeen, WA (FHA|USDA|VA) 1 $295,000 $295,000 $1,062 3.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $295,000 $295,000 $5,188 2.38%
Centralia, WA (FHA|USDA|VA) 1 $285,000 $285,000 $8,132 2.75%
TYLER, TX (FHA|USDA|VA) 1 $285,000 $285,000 $9,943 2.75%
The Dalles, OR (FHA|USDA|VA) 1 $265,000 $265,000 $4,554 3.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,255 3.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,472 2.99%
Thomasville, GA (FHA|USDA|VA) 1 $255,000 $255,000 $1,780 3.13%
Crescent City, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,315 2.99%
CARSON CITY, NV (FHA|USDA|VA) 1 $255,000 $255,000 $7,623 2.50%
Brookings, OR (FHA|USDA|VA) 1 $255,000 $255,000 $3,595 2.63%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $4,165 2.87%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $5,120 2.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,804 2.88%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $3,013 3.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,128 2.99%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $235,000 $235,000 $4,905 3.38%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,051 2.50%
ODESSA, TX (FHA|USDA|VA) 1 $225,000 $225,000 $5,523 2.99%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $220,000 $110,000 $6,771 3.63%
ASHEVILLE, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,128 3.38%
Fernley, NV (FHA|USDA|VA) 1 $215,000 $215,000 $4,580 2.88%
Show Low, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $8,880 2.75%
LONGVIEW, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,297 2.88%
Price, UT (FHA|USDA|VA) 1 $205,000 $205,000 $2,229 2.75%
Elk City, OK (FHA|USDA|VA) 1 $195,000 $195,000 $7,814 2.88%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,494 2.88%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,084 3.75%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $3,113 3.38%
Prineville, OR (FHA|USDA|VA) 1 $195,000 $195,000 $3,858 2.99%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $185,000 $185,000 $3,474 3.63%
BOULDER, CO (FHA|USDA|VA) 1 $185,000 $185,000 $3,740 3.38%
THE VILLAGES, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,588 2.88%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $175,000 $175,000 $5,166 4.13%
Oak Harbor, WA (FHA|USDA|VA) 1 $175,000 $175,000 $2,285 2.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $175,000 $175,000 $6,609 2.99%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $175,000 $175,000 $2,490 2.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,597 3.12%
Winnemucca, NV (FHA|USDA|VA) 1 $155,000 $155,000 $6,062 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,178 3.75%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,492 2.63%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $1,842 2.75%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,381 2.38%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $135,000 $135,000 $8,599 3.00%
TULSA, OK (FHA|USDA|VA) 1 $125,000 $125,000 $4,017 3.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $5,257 2.99%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,046 2.25%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $115,000 $115,000 $2,860 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $4,708 2.99%
ALBANY, GA (FHA|USDA|VA) 1 $105,000 $105,000 $2,593 2.75%
Moses Lake, WA (FHA|USDA|VA) 1 $105,000 $105,000 $4,568 2.75%

Western Express Lending's top markets include Los Angeles, Riverside, Las Vegas, San Diego, and Seattle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,765 $640,035,000 $362,626 $4,520 3.00%
FHA 288 $98,390,000 $341,632 $10,154 2.79%
VA 75 $30,455,000 $406,067 $5,897 2.63%
USDA 7 $1,625,000 $232,143 $4,816 2.68%

For the 2021 period, Western Express Lending's most frequently originated loan type of loans were Conventional, with 1,765 originations. Their 2nd most popular type is FHA, with 288 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,049 $369,955,000 $352,674 $4,614 2.78%
Cash Out Refi 638 $228,600,000 $358,307 $4,934 3.11%
Home Purchase 448 $171,950,000 $383,817 $7,572 3.17%

For the 2021, Western Express Lending's most frequently cited loan purpose of loans were Refi, with 1,049 originations. The 2nd most popular reason of loans were Cash Out Refi, with 638 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,798 $671,250,000 $373,331 $5,635 3.03%
15 Year 179 $51,635,000 $288,464 $3,528 2.43%
20 Year 87 $25,625,000 $294,540 $3,797 2.80%
Other 53 $17,695,000 $333,868 $4,333 2.89%
10 Year 18 $4,300,000 $238,889 $3,722 2.39%

For the 2021, Western Express Lending's most frequently cited loan length of loans were 30 Year, with 1,798 originations. The 2nd most popular length of loans were 15 Year, with 179 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,319 $479,775,000 $363,741
$<1k 248 $83,300,000 $335,887
$2k-3k 203 $60,805,000 $299,532
$3k-4k 200 $68,210,000 $341,050
$5k+ 159 $76,565,000 $481,541

$5,635 of loans were Western Express Lending's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,319 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 987 $363,285,000 $368,070
3-4% 669 $246,315,000 $368,184
<2.5% 432 $145,740,000 $337,361
4-5% 38 $12,230,000 $321,842
6-7% 4 $1,190,000 $297,500
7-8% 4 $1,520,000 $380,000
Over 8% 1 $225,000 $225,000

During 2021, Western Express Lending's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 987 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,059 $314,945,000 $297,398 $5,061 2.94%
$400k-600k 621 $299,585,000 $482,424 $5,685 2.93%
$100k-200k 288 $45,570,000 $158,229 $3,912 3.00%
$600k-1MM 138 $98,990,000 $717,319 $8,119 3.13%
$100,000 or less 22 $1,770,000 $80,455 $3,447 3.08%
$1MM+ 7 $9,645,000 $1,377,857 $25,395 2.86%

2021 saw Western Express Lending place emphasis on $200k-400k loans with 1,059 originations, totaling $314,945,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 552 $215,910,000 $391,141 $5,121 3.00%
$150k-250k 379 $181,045,000 $477,691 $5,498 2.98%
$50k-75k 370 $101,680,000 $274,811 $5,101 3.05%
$75k-100k 360 $119,090,000 $330,806 $5,222 2.98%
$50k or less 177 $33,825,000 $191,102 $4,721 3.06%
$250k+ 134 $62,920,000 $469,552 $4,886 2.95%

Western Express Lending lent most frequently to those with incomes in the $100k-150k range, with 552 originations. The second most popular income band? $150k-250k, with 379 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 344 $124,940,000 $363,198 $4,588 2.98%
20-30% 308 $109,190,000 $354,513 $4,373 2.87%
44% 117 $41,185,000 $352,009 $5,092 3.26%
43% 101 $36,285,000 $359,257 $5,611 3.06%
49% 99 $38,575,000 $389,646 $5,815 3.01%
<20% 95 $30,225,000 $318,158 $3,504 2.73%
48% 91 $31,175,000 $342,582 $5,080 2.99%
42% 89 $33,145,000 $372,416 $5,107 2.99%
41% 86 $34,040,000 $395,814 $5,733 3.06%
47% 84 $29,370,000 $349,643 $5,676 3.07%
40% 82 $30,630,000 $373,537 $5,230 3.05%
38% 76 $28,270,000 $371,974 $5,143 3.07%
50-60% 75 $29,985,000 $399,800 $11,177 3.08%
36% 68 $24,860,000 $365,588 $4,867 3.03%
45% 68 $23,920,000 $351,765 $4,856 3.08%
37% 62 $22,720,000 $366,452 $5,042 2.98%
39% 61 $23,495,000 $385,164 $5,028 3.07%
46% 60 $20,150,000 $335,833 $4,844 3.19%
>60% 5 $1,625,000 $325,000 $6,830 2.87%

Western Express Lending lent most frequently to those with DTI ratios of 30-36%, with 344 originations. The next most common DTI ratio? 20-30%, with 308 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,414 $502,400,000 $355,304 $5,373 2.98%
Not provided 455 $169,125,000 $371,703 $5,098 2.89%
Asian 150 $57,750,000 $385,000 $5,078 2.87%
Black 98 $34,370,000 $350,714 $5,970 3.03%
American Indian 10 $3,690,000 $369,000 $5,409 3.43%
Native Hawaiian 8 $3,170,000 $396,250 $9,428 2.81%

Approval Rates

Total approvals of all applications
95.69%

Western Express Lending 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
61.55%

Western Express Lending 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 2,135 $770,505,000 $360,892

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,135 $770,505,000 $360,892

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 140 $36,590,000 $261,357 $3,725 2.79%
40-60% 516 $172,000,000 $333,333 $3,968 2.83%
60-80% 890 $346,850,000 $389,719 $4,902 3.06%
80-100% 571 $210,765,000 $369,116 $7,590 2.96%
Over 100% 5 $2,225,000 $445,000 $14,925 2.80%
Under 20% 13 $2,075,000 $159,615 $3,008 2.50%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
WESTERN EXPRESS LENDING Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
WESTERN EXPRESS LENDING Conventional home mortgage Closing on a mortgage 1 50.0%