Wall Financial Mortgage Rates, Fees & Info

LOS ANGELES, CA

LEI: 549300LU20D3H1812W20

Tax ID: 27-0429529

1.9 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Wall Financial is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Wall Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Los Angeles, Riverside, Las Vegas, San Francisco, and Oxnard among others. Wall Financial 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. Wall Financial is typically a high fee lendor.


Originations

1,272

Origination Dollar Volume (All Markets)

$513,560,000

Awards

WALL FINANCIAL  30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Wall Financial 's average 30 year fixed rate mortgage of loans were 3.05%.

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

This yields a difference of -0.1%.

Relative Fees

Wall Financial 's average total fees for a 30 year fixed rate mortgage are $8,147.

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) 852 $369,360,000 $433,521 $7,640 2.97%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 218 $75,550,000 $346,560 $8,621 2.99%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 63 $15,805,000 $250,873 $6,599 3.05%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 28 $13,330,000 $476,071 $6,777 2.97%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 15 $7,455,000 $497,000 $6,504 2.88%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 18 $6,870,000 $381,667 $8,547 2.88%
BAKERSFIELD, CA (FHA|USDA|VA) 20 $5,250,000 $262,500 $9,340 3.18%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 13 $4,275,000 $328,846 $6,726 3.10%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 9 $3,985,000 $442,778 $7,596 2.81%
Outside of Metro Areas 5 $2,045,000 $409,000 $7,220 2.98%
FRESNO, CA (FHA|USDA|VA) 8 $1,960,000 $245,000 $6,361 2.97%
STOCKTON, CA (FHA|USDA|VA) 5 $1,405,000 $281,000 $8,476 2.80%
MODESTO, CA (FHA|USDA|VA) 3 $1,025,000 $341,667 $6,407 3.17%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $915,000 $305,000 $5,928 2.46%
VALLEJO, CA (FHA|USDA|VA) 2 $910,000 $455,000 $12,518 3.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $750,000 $375,000 $5,588 2.19%
RENO, NV (FHA|USDA|VA) 2 $750,000 $375,000 $8,402 3.38%
NAPA, CA (FHA|USDA|VA) 1 $465,000 $465,000 $6,500 3.00%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $385,000 $385,000 $12,524 2.88%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $345,000 $345,000 $11,680 2.88%
YUBA CITY, CA (FHA|USDA|VA) 1 $305,000 $305,000 $12,142 3.63%
SALINAS, CA (FHA|USDA|VA) 1 $245,000 $245,000 $3,344 2.63%
VISALIA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $5,700 2.75%

Wall Financial 's top markets include Los Angeles, Riverside, Las Vegas, San Francisco, and Oxnard among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,173 $470,205,000 $400,857 $7,073 2.99%
FHA 99 $43,355,000 $437,929 $15,776 2.84%

For the 2021 period, Wall Financial 's most frequently originated loan type of loans were Conventional, with 1,173 originations. Their 2nd most popular type is FHA, with 99 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 554 $204,850,000 $369,765 $6,205 2.80%
Cash Out Refi 407 $160,995,000 $395,565 $7,877 3.16%
Home Purchase 311 $147,715,000 $474,968 $10,333 3.05%

For the 2021, Wall Financial 's most frequently cited loan purpose of loans were Refi, with 554 originations. The 2nd most popular reason of loans were Cash Out Refi, with 407 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,070 $448,460,000 $419,121 $8,147 3.05%
15 Year 125 $40,335,000 $322,680 $5,254 2.40%
20 Year 52 $16,330,000 $314,038 $6,400 2.88%
Other 20 $6,960,000 $348,000 $6,000 3.09%
10 Year 5 $1,475,000 $295,000 $5,728 2.53%

For the 2021, Wall Financial 's most frequently cited loan length of loans were 30 Year, with 1,070 originations. The 2nd most popular length of loans were 15 Year, with 125 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 469 $200,515,000 $427,537
$1k-2k 374 $162,880,000 $435,508
$3k-4k 291 $94,595,000 $325,069
$2k-3k 122 $49,260,000 $403,770
$<1k 9 $3,535,000 $392,778

$8,147 of loans were Wall Financial 's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 469 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 634 $259,350,000 $409,069
3-4% 449 $186,645,000 $415,690
<2.5% 173 $59,805,000 $345,694
4-5% 16 $7,760,000 $485,000

During 2021, Wall Financial 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 634 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 594 $181,810,000 $306,077 $7,004 2.94%
$400k-600k 453 $220,055,000 $485,773 $8,495 3.01%
$600k-1MM 130 $93,220,000 $717,077 $9,851 3.06%
$100k-200k 92 $14,840,000 $161,304 $5,823 2.89%
$1MM+ 3 $3,635,000 $1,211,667 $11,548 3.63%

2021 saw Wall Financial place emphasis on $200k-400k loans with 594 originations, totaling $181,810,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 349 $154,045,000 $441,390 $8,193 3.03%
$75k-100k 292 $112,770,000 $386,199 $8,122 2.95%
$50k-75k 264 $80,310,000 $304,205 $7,420 2.99%
$150k-250k 214 $106,820,000 $499,159 $7,540 2.91%
$50k or less 79 $18,935,000 $239,684 $6,582 3.00%
$250k+ 64 $36,890,000 $576,406 $7,239 2.96%

Wall Financial lent most frequently to those with incomes in the $100k-150k range, with 349 originations. The second most popular income band? $75k-100k, with 292 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 91 $34,435,000 $378,407 $6,050 2.85%
30-36% 91 $36,735,000 $403,681 $7,050 2.94%
48% 29 $12,435,000 $428,793 $6,328 3.02%
39% 27 $10,725,000 $397,222 $7,675 3.15%
42% 27 $10,465,000 $387,593 $6,921 3.05%
44% 27 $9,645,000 $357,222 $6,759 3.30%
49% 25 $9,215,000 $368,600 $5,346 2.76%
<20% 24 $10,200,000 $425,000 $6,809 2.92%
36% 22 $8,180,000 $371,818 $6,488 2.88%
40% 21 $8,255,000 $393,095 $7,794 3.14%
43% 20 $8,930,000 $446,500 $9,068 3.02%
37% 18 $6,680,000 $371,111 $7,137 3.06%
50-60% 17 $7,695,000 $452,647 $12,110 2.96%
47% 17 $6,285,000 $369,706 $6,470 2.90%
46% 16 $6,320,000 $395,000 $8,614 2.93%
41% 15 $6,185,000 $412,333 $7,642 3.09%
45% 15 $6,215,000 $414,333 $6,722 3.08%
38% 14 $5,440,000 $388,571 $6,991 3.02%
>60% 2 $820,000 $410,000 $3,840 2.75%

Wall Financial lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 30-36%, with 91 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 611 $260,985,000 $427,144 $6,556 2.91%
Not provided 390 $155,810,000 $399,513 $8,908 3.03%
White 238 $84,310,000 $354,244 $8,954 3.04%
Native Hawaiian 14 $5,400,000 $385,714 $7,361 2.98%
Black 13 $5,045,000 $388,077 $7,792 3.14%
American Indian 3 $1,065,000 $355,000 $7,241 3.29%
Filipino 2 $480,000 $240,000 $5,695 3.00%
Samoan 1 $465,000 $465,000 $8,764 3.38%

Approval Rates

Total approvals of all applications
99.73%

Wall Financial 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
71.66%

Wall Financial has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,272 $513,560,000 $403,742

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,272 $513,560,000 $403,742

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 82 $23,600,000 $287,805 $5,406 2.78%
40-60% 183 $74,915,000 $409,372 $6,151 2.89%
60-80% 219 $92,405,000 $421,941 $7,830 3.12%
80-100% 42 $19,230,000 $457,857 $9,962 2.97%
Under 20% 10 $2,420,000 $242,000 $4,517 2.65%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Wall Financial, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%