Freedom Mortgage Corporation

FISHERS, IN 46037

LEI: 549300LYRWPSYPK6S325

Tax ID: 22-3039688

2019 Data *Active* | 2018 Data


Overview

Freedom Mortgage Corporation is a large mortgage company specializing in Home Purchase and Refi loans. Freedom Mortgage Corporation has an average proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Riverside, New York, Washington, Nassau County, and Phoenix among others. They have an 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. Freedom Mortgage Corporation is typically a low/ fee lendor.


Originations

109,716

Origination Dollar Volume (All Markets)

$28,562,220,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 25,430 $6,921,140,000 $272,164
FHA 40,677 $9,849,085,000 $242,129
VA 42,717 $11,631,245,000 $272,286
USDA 892 $160,750,000 $180,213

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 25,973 $6,713,885,000 $258,495
Refi 62,843 $16,481,915,000 $262,271
Cash Out Refi 20,900 $5,366,420,000 $256,767

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
Outside of Metro Areas 8,373 $1,683,225,000 $201,030
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 2,968 $953,570,000 $321,284
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 2,332 $926,630,000 $397,354
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 2,491 $871,765,000 $349,966
NASSAU COUNTY-SUFFOLK COUNTY, NY 2,687 $864,245,000 $321,639
PHOENIX-MESA-CHANDLER, AZ 3,330 $824,950,000 $247,733
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 2,792 $654,680,000 $234,484
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,432 $599,340,000 $418,534
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 1,324 $589,910,000 $445,551
DENVER-AURORA-LAKEWOOD, CO 1,664 $548,020,000 $329,339
SACRAMENTO-ROSEVILLE-FOLSOM, CA 1,743 $545,435,000 $312,929
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 2,194 $531,750,000 $242,366
LAS VEGAS-HENDERSON-PARADISE, NV 1,700 $445,970,000 $262,335
DALLAS-PLANO-IRVING, TX 1,579 $428,585,000 $271,428
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1,667 $417,035,000 $250,171
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1,771 $409,825,000 $231,409
ORLANDO-KISSIMMEE-SANFORD, FL 1,677 $407,105,000 $242,758
URBAN HONOLULU, HI 725 $402,375,000 $555,000
CHICAGO-NAPERVILLE-EVANSTON, IL 1,504 $360,660,000 $239,801
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1,347 $358,735,000 $266,321
BALTIMORE-COLUMBIA-TOWSON, MD 1,165 $345,295,000 $296,391
SAN ANTONIO-NEW BRAUNFELS, TX 1,238 $303,420,000 $245,089
NEW BRUNSWICK-LAKEWOOD, NJ 1,014 $303,370,000 $299,181
SEATTLE-BELLEVUE-KENT, WA 773 $288,015,000 $372,594
CHARLOTTE-CONCORD-GASTONIA, NC-SC 1,195 $274,695,000 $229,870
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 818 $261,010,000 $319,083
AUSTIN-ROUND ROCK-GEORGETOWN, TX 909 $254,025,000 $279,455
INDIANAPOLIS-CARMEL-ANDERSON, IN 1,287 $253,575,000 $197,028
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 999 $250,235,000 $250,485
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 849 $239,285,000 $281,843
OAKLAND-BERKELEY-LIVERMORE, CA 535 $237,395,000 $443,729
COLORADO SPRINGS, CO 784 $223,620,000 $285,230
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 822 $221,150,000 $269,039
RICHMOND, VA 825 $208,925,000 $253,242
KANSAS CITY, MO-KS 981 $205,605,000 $209,587
ANAHEIM-SANTA ANA-IRVINE, CA 413 $199,105,000 $482,094
STOCKTON, CA 700 $196,580,000 $280,829
FORT WORTH-ARLINGTON-GRAPEVINE, TX 795 $196,015,000 $246,560
NEWARK, NJ-PA 599 $191,685,000 $320,008
RALEIGH-CARY, NC 740 $188,600,000 $254,865
MIAMI-MIAMI BEACH-KENDALL, FL 636 $183,410,000 $288,381
MODESTO, CA 695 $182,815,000 $263,043
TACOMA-LAKEWOOD, WA 564 $178,080,000 $315,745
JACKSONVILLE, FL 697 $169,785,000 $243,594
PHILADELPHIA, PA 830 $168,360,000 $202,843
PROVIDENCE-WARWICK, RI-MA 617 $165,225,000 $267,788
SALT LAKE CITY, UT 575 $161,665,000 $281,157
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 452 $156,470,000 $346,173
ST. LOUIS, MO-IL 759 $154,615,000 $203,709
VALLEJO, CA 438 $152,240,000 $347,580
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 563 $151,835,000 $269,689
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 762 $149,680,000 $196,430
CAMDEN, NJ 666 $147,600,000 $221,622
BOSTON, MA 408 $142,010,000 $348,064
OGDEN-CLEARFIELD, UT 503 $133,735,000 $265,875
COLUMBUS, OH 619 $129,625,000 $209,410
NEW ORLEANS-METAIRIE, LA 606 $128,550,000 $212,129
WARREN-TROY-FARMINGTON HILLS, MI 605 $127,785,000 $211,215
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 352 $127,080,000 $361,023
BATON ROUGE, LA 613 $126,035,000 $205,604
LOUISVILLE/JEFFERSON COUNTY, KY-IN 620 $124,320,000 $200,516
OXNARD-THOUSAND OAKS-VENTURA, CA 246 $112,430,000 $457,033
MEMPHIS, TN-MS-AR 524 $110,450,000 $210,782
LAKELAND-WINTER HAVEN, FL 557 $110,425,000 $198,250
CINCINNATI, OH-KY-IN 560 $107,470,000 $191,911
CHARLESTON-NORTH CHARLESTON, SC 428 $104,250,000 $243,575
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 210 $102,520,000 $488,190
FRESNO, CA 397 $101,815,000 $256,461
COLUMBIA, SC 513 $101,135,000 $197,144
TUCSON, AZ 459 $100,015,000 $217,898
YUBA CITY, CA 380 $95,410,000 $251,079
BAKERSFIELD, CA 427 $94,045,000 $220,246
CLEVELAND-ELYRIA, OH 592 $91,370,000 $154,341
BOISE CITY, ID 357 $91,055,000 $255,056
SANTA ROSA-PETALUMA, CA 219 $90,095,000 $411,393
PROVO-OREM, UT 309 $88,555,000 $286,586
PALM BAY-MELBOURNE-TITUSVILLE, FL 385 $85,365,000 $221,727
FAYETTEVILLE, NC 437 $83,745,000 $191,636
RENO, NV 273 $83,085,000 $304,341
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 385 $81,465,000 $211,597
NORTH PORT-SARASOTA-BRADENTON, FL 310 $79,650,000 $256,935
BIRMINGHAM-HOOVER, AL 361 $76,025,000 $210,596
WILMINGTON, DE-MD-NJ 290 $72,250,000 $249,138
GREELEY, CO 237 $70,715,000 $298,376
CAPE CORAL-FORT MYERS, FL 324 $70,070,000 $216,265
WORCESTER, MA-CT 276 $68,340,000 $247,609
GREENVILLE-ANDERSON, SC 336 $67,990,000 $202,351
VISALIA, CA 291 $67,855,000 $233,179
GARY, IN 327 $66,005,000 $201,850
ALBUQUERQUE, NM 301 $65,365,000 $217,159
PORT ST. LUCIE, FL 294 $64,630,000 $219,830
MILWAUKEE-WAUKESHA, WI 294 $63,480,000 $215,918
HUNTSVILLE, AL 264 $62,910,000 $238,295
SALEM, OR 256 $62,730,000 $245,039
DURHAM-CHAPEL HILL, NC 247 $61,135,000 $247,510
PITTSBURGH, PA 297 $57,865,000 $194,832
OLYMPIA-LACEY-TUMWATER, WA 195 $57,175,000 $293,205
CHATTANOOGA, TN-GA 300 $56,870,000 $189,567
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 191 $56,705,000 $296,885
KNOXVILLE, TN 273 $56,665,000 $207,564
MERCED, CA 243 $56,295,000 $231,667
GREENSBORO-HIGH POINT, NC 314 $55,570,000 $176,975
BREMERTON-SILVERDALE-PORT ORCHARD, WA 184 $54,460,000 $295,978
CLARKSVILLE, TN-KY 280 $53,350,000 $190,536
ELGIN, IL 227 $52,615,000 $231,784
DES MOINES-WEST DES MOINES, IA 252 $52,270,000 $207,421
JACKSONVILLE, NC 266 $49,350,000 $185,526
SPOKANE-SPOKANE VALLEY, WA 196 $48,750,000 $248,724
LAKE COUNTY-KENOSHA COUNTY, IL-WI 220 $48,250,000 $219,318
PENSACOLA-FERRY PASS-BRENT, FL 199 $48,155,000 $241,985
BRIDGEPORT-STAMFORD-NORWALK, CT 138 $48,030,000 $348,043
DETROIT-DEARBORN-LIVONIA, MI 264 $46,880,000 $177,576
KILLEEN-TEMPLE, TX 232 $46,670,000 $201,164
AUGUSTA-RICHMOND COUNTY, GA-SC 224 $46,510,000 $207,634
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 220 $46,340,000 $210,636
ANCHORAGE, AK 147 $45,665,000 $310,646
WILMINGTON, NC 180 $45,160,000 $250,889
SAVANNAH, GA 203 $45,145,000 $222,389
MANCHESTER-NASHUA, NH 171 $44,975,000 $263,012
SANTA MARIA-SANTA BARBARA, CA 124 $44,160,000 $356,129
GULFPORT-BILOXI, MS 215 $43,565,000 $202,628
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 165 $43,035,000 $260,818
NAPLES-MARCO ISLAND, FL 140 $42,540,000 $303,857
OMAHA-COUNCIL BLUFFS, NE-IA 195 $42,215,000 $216,487
KAHULUI-WAILUKU-LAHAINA, HI 81 $39,885,000 $492,407
NEW HAVEN-MILFORD, CT 179 $39,345,000 $219,804
FORT COLLINS, CO 123 $38,785,000 $315,325
SAN LUIS OBISPO-PASO ROBLES, CA 90 $38,480,000 $427,556
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 169 $38,315,000 $226,716
PRESCOTT VALLEY-PRESCOTT, AZ 154 $37,870,000 $245,909
EL PASO, TX 212 $36,710,000 $173,160
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 138 $36,400,000 $263,768
EUGENE-SPRINGFIELD, OR 142 $36,390,000 $256,268
COLUMBUS, GA-AL 177 $36,225,000 $204,661
SPRINGFIELD, MA 176 $36,080,000 $205,000
WICHITA, KS 193 $35,375,000 $183,290
PORTLAND-SOUTH PORTLAND, ME 141 $35,025,000 $248,404
DAYTON-KETTERING, OH 177 $34,665,000 $195,847
LAFAYETTE, LA 177 $34,235,000 $193,418
COEUR D'ALENE, ID 126 $34,140,000 $270,952
LAKE CHARLES, LA 169 $33,955,000 $200,917
GRAND RAPIDS-KENTWOOD, MI 177 $33,715,000 $190,480
HAMMOND, LA 171 $32,795,000 $191,784
HAGERSTOWN-MARTINSBURG, MD-WV 146 $32,700,000 $223,973
SHREVEPORT-BOSSIER CITY, LA 153 $32,575,000 $212,908
SALINAS, CA 78 $31,990,000 $410,128
SPARTANBURG, SC 172 $31,360,000 $182,326
LAKE HAVASU CITY-KINGMAN, AZ 145 $31,055,000 $214,172
BEND, OR 105 $29,785,000 $283,667
CORPUS CHRISTI, TX 134 $29,740,000 $221,940
SALISBURY, MD-DE 125 $29,375,000 $235,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 145 $28,895,000 $199,276
WINSTON-SALEM, NC 161 $28,595,000 $177,609
ASHEVILLE, NC 128 $28,320,000 $221,250
SPRINGFIELD, MO 153 $27,815,000 $181,797
LEXINGTON-FAYETTE, KY 149 $27,625,000 $185,403
MONTGOMERY, AL 142 $27,250,000 $191,901
CHICO, CA 110 $27,220,000 $247,455
HANFORD-CORCORAN, CA 110 $27,220,000 $247,455
DOVER, DE 106 $26,140,000 $246,604
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 50 $25,840,000 $516,800
YUMA, AZ 122 $25,410,000 $208,279
MADISON, WI 105 $25,365,000 $241,571
FLINT, MI 139 $25,315,000 $182,122
BARNSTABLE TOWN, MA 78 $25,080,000 $321,538
KENNEWICK-RICHLAND, WA 94 $24,440,000 $260,000
HARRISBURG-CARLISLE, PA 107 $24,255,000 $226,682
YORK-HANOVER, PA 105 $23,585,000 $224,619
DAPHNE-FAIRHOPE-FOLEY, AL 104 $23,340,000 $224,423
EVANSVILLE, IN-KY 149 $23,125,000 $155,201
HOUMA-THIBODAUX, LA 112 $22,640,000 $202,143
FORT WAYNE, IN 125 $22,345,000 $178,760
LANCASTER, PA 104 $22,140,000 $212,885
BILLINGS, MT 90 $22,090,000 $245,444
BOULDER, CO 62 $21,990,000 $354,677
FLAGSTAFF, AZ 76 $21,920,000 $288,421
ST. GEORGE, UT 84 $21,780,000 $259,286
JACKSON, MS 111 $21,575,000 $194,369
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 105 $21,575,000 $205,476
OKLAHOMA CITY, OK 104 $21,520,000 $206,923
BUFFALO-CHEEKTOWAGA, NY 123 $21,465,000 $174,512
HILTON HEAD ISLAND-BLUFFTON, SC 82 $21,170,000 $258,171
AKRON, OH 128 $21,010,000 $164,141
PUEBLO, CO 105 $20,965,000 $199,667
SANTA CRUZ-WATSONVILLE, CA 42 $20,440,000 $486,667
READING, PA 97 $20,405,000 $210,361
TOLEDO, OH 115 $20,345,000 $176,913
GRAND JUNCTION, CO 82 $19,800,000 $241,463
REDDING, CA 84 $19,550,000 $232,738
MADERA, CA 76 $19,380,000 $255,000
OCALA, FL 106 $18,560,000 $175,094
WINCHESTER, VA-WV 68 $18,540,000 $272,647
GAINESVILLE, GA 81 $18,435,000 $227,593
CALIFORNIA-LEXINGTON PARK, MD 63 $18,365,000 $291,508
KINGSPORT-BRISTOL, TN-VA 98 $17,990,000 $183,571
ST. CLOUD, MN 101 $17,815,000 $176,386
ALBANY-LEBANON, OR 81 $17,775,000 $219,444
CHARLOTTESVILLE, VA 66 $17,770,000 $269,242
WARNER ROBINS, GA 85 $17,715,000 $208,412
SOUTH BEND-MISHAWAKA, IN-MI 105 $17,625,000 $167,857
PUNTA GORDA, FL 78 $17,600,000 $225,641
CHEYENNE, WY 65 $17,385,000 $267,462
NAPA, CA 38 $16,740,000 $440,526
LANSING-EAST LANSING, MI 98 $16,440,000 $167,755
LYNCHBURG, VA 81 $16,425,000 $202,778
MOBILE, AL 92 $16,360,000 $177,826
MEDFORD, OR 60 $16,310,000 $271,833
IDAHO FALLS, ID 74 $16,210,000 $219,054
ELIZABETHTOWN-FORT KNOX, KY 80 $15,940,000 $199,250
SCRANTON--WILKES-BARRE, PA 89 $15,705,000 $176,461
NORWICH-NEW LONDON, CT 62 $15,520,000 $250,323
MISSOULA, MT 50 $15,300,000 $306,000
SEBASTIAN-VERO BEACH, FL 65 $14,555,000 $223,923
LAREDO, TX 68 $14,260,000 $209,706
TRENTON-PRINCETON, NJ 56 $14,150,000 $252,679
LONGVIEW, WA 54 $13,950,000 $258,333
MCALLEN-EDINBURG-MISSION, TX 69 $13,775,000 $199,638
PANAMA CITY, FL 54 $13,660,000 $252,963
AUBURN-OPELIKA, AL 60 $13,630,000 $227,167
TALLAHASSEE, FL 55 $13,555,000 $246,455
ATLANTIC CITY-HAMMONTON, NJ 66 $13,410,000 $203,182
NEW BERN, NC 68 $13,290,000 $195,441
EAST STROUDSBURG, PA 74 $13,260,000 $179,189
ROCHESTER, MN 59 $13,225,000 $224,153
JOHNSON CITY, TN 68 $13,110,000 $192,794
HICKORY-LENOIR-MORGANTON, NC 72 $13,100,000 $181,944
LUBBOCK, TX 63 $12,885,000 $204,524
LINCOLN, NE 57 $12,765,000 $223,947
MIDLAND, TX 49 $12,665,000 $258,469
GAINESVILLE, FL 66 $12,540,000 $190,000
ROANOKE, VA 61 $12,515,000 $205,164
BLOOMINGTON, IN 59 $12,065,000 $204,492
APPLETON, WI 66 $11,850,000 $179,545
SIERRA VISTA-DOUGLAS, AZ 54 $11,780,000 $218,148
KALAMAZOO-PORTAGE, MI 69 $11,705,000 $169,638
CANTON-MASSILLON, OH 69 $11,365,000 $164,710
HOMOSASSA SPRINGS, FL 62 $11,300,000 $182,258
WACO, TX 50 $11,290,000 $225,800
ANN ARBOR, MI 47 $11,265,000 $239,681
COLLEGE STATION-BRYAN, TX 44 $11,260,000 $255,909
AMARILLO, TX 54 $11,130,000 $206,111
GREEN BAY, WI 63 $10,885,000 $172,778
BURLINGTON, NC 52 $10,770,000 $207,115
MOUNT VERNON-ANACORTES, WA 36 $10,570,000 $293,611
SAN RAFAEL, CA 22 $10,460,000 $475,455
BROWNSVILLE-HARLINGEN, TX 56 $10,430,000 $186,250
DECATUR, AL 58 $10,120,000 $174,483
HINESVILLE, GA 60 $10,080,000 $168,000
BEAUMONT-PORT ARTHUR, TX 51 $10,045,000 $196,961
EL CENTRO, CA 43 $10,045,000 $233,605
LOGAN, UT-ID 44 $9,650,000 $219,318
TUSCALOOSA, AL 49 $9,605,000 $196,020
RACINE, WI 58 $9,570,000 $165,000
MANHATTAN, KS 45 $9,465,000 $210,333
ATHENS-CLARKE COUNTY, GA 46 $9,320,000 $202,609
DULUTH, MN-WI 47 $9,305,000 $197,979
YAKIMA, WA 42 $9,240,000 $220,000
OCEAN CITY, NJ 38 $9,220,000 $242,632
BRUNSWICK, GA 40 $9,140,000 $228,500
TULSA, OK 45 $9,135,000 $203,000
DOTHAN, AL 50 $9,020,000 $180,400
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 45 $8,765,000 $194,778
ALBANY-SCHENECTADY-TROY, NY 40 $8,760,000 $219,000
CLEVELAND, TN 49 $8,705,000 $177,653
GREAT FALLS, MT 39 $8,625,000 $221,154
ELKHART-GOSHEN, IN 51 $8,535,000 $167,353
LEWISTON-AUBURN, ME 43 $8,465,000 $196,860
MONROE, MI 49 $8,345,000 $170,306
STAUNTON, VA 38 $8,310,000 $218,684
OSHKOSH-NEENAH, WI 48 $8,180,000 $170,417
BANGOR, ME 46 $8,070,000 $175,435
VINELAND-BRIDGETON, NJ 47 $8,045,000 $171,170
MONROE, LA 38 $7,990,000 $210,263
ROCKFORD, IL 49 $7,975,000 $162,755
ODESSA, TX 35 $7,975,000 $227,857
MICHIGAN CITY-LA PORTE, IN 46 $7,780,000 $169,130
LAFAYETTE-WEST LAFAYETTE, IN 44 $7,700,000 $175,000
VALDOSTA, GA 43 $7,675,000 $178,488
CARSON CITY, NV 26 $7,490,000 $288,077
GRANTS PASS, OR 27 $7,475,000 $276,852
SHERMAN-DENISON, TX 34 $7,390,000 $217,353
TOPEKA, KS 42 $7,240,000 $172,381
GOLDSBORO, NC 39 $7,155,000 $183,462
BELLINGHAM, WA 24 $6,960,000 $290,000
FARGO, ND-MN 32 $6,960,000 $217,500
WENATCHEE, WA 25 $6,885,000 $275,400
JACKSON, MI 44 $6,830,000 $155,227
BOWLING GREEN, KY 33 $6,805,000 $206,212
RAPID CITY, SD 29 $6,735,000 $232,241
TYLER, TX 33 $6,715,000 $203,485
LEBANON, PA 31 $6,715,000 $216,613
LAS CRUCES, NM 32 $6,710,000 $209,688
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 47 $6,575,000 $139,894
SUMTER, SC 38 $6,500,000 $171,053
POCATELLO, ID 29 $6,495,000 $223,966
MORRISTOWN, TN 33 $6,395,000 $193,788
HATTIESBURG, MS 33 $6,355,000 $192,576
PITTSFIELD, MA 36 $6,350,000 $176,389
ABILENE, TX 34 $6,230,000 $183,235
HUNTINGTON-ASHLAND, WV-KY-OH 36 $6,230,000 $173,056
FARMINGTON, NM 33 $6,175,000 $187,121
SPRINGFIELD, IL 35 $6,055,000 $173,000
WALLA WALLA, WA 25 $6,045,000 $241,800
LAWTON, OK 29 $5,935,000 $204,655
JOPLIN, MO 40 $5,930,000 $148,250
GETTYSBURG, PA 27 $5,875,000 $217,593
LEWISTON, ID-WA 27 $5,825,000 $215,741
SIOUX FALLS, SD 27 $5,825,000 $215,741
CEDAR RAPIDS, IA 29 $5,745,000 $198,103
ROCKY MOUNT, NC 33 $5,695,000 $172,576
COLUMBIA, MO 28 $5,630,000 $201,071
FAIRBANKS, AK 20 $5,530,000 $276,500
FLORENCE, SC 27 $5,525,000 $204,630
KOKOMO, IN 36 $5,410,000 $150,278
CASPER, WY 20 $5,400,000 $270,000
SANTA FE, NM 23 $5,285,000 $229,783
CHAMBERSBURG-WAYNESBORO, PA 24 $5,110,000 $212,917
MUSKEGON, MI 34 $5,080,000 $149,412
NILES, MI 28 $5,080,000 $181,429
ALEXANDRIA, LA 30 $5,020,000 $167,333
SEBRING-AVON PARK, FL 30 $5,000,000 $166,667
JANESVILLE-BELOIT, WI 29 $4,945,000 $170,517
STATE COLLEGE, PA 22 $4,880,000 $221,818
LONGVIEW, TX 27 $4,795,000 $177,593
WILLIAMSPORT, PA 25 $4,795,000 $191,800
JACKSON, TN 30 $4,760,000 $158,667
CORVALLIS, OR 15 $4,735,000 $315,667
TERRE HAUTE, IN 32 $4,550,000 $142,188
TWIN FALLS, ID 23 $4,515,000 $196,304
GREENVILLE, NC 25 $4,485,000 $179,400
TEXARKANA, TX-AR 22 $4,390,000 $199,545
MACON-BIBB COUNTY, GA 26 $4,360,000 $167,692
WAUSAU-WESTON, WI 22 $4,350,000 $197,727
FLORENCE-MUSCLE SHOALS, AL 27 $4,325,000 $160,185
THE VILLAGES, FL 22 $4,310,000 $195,909
GADSDEN, AL 20 $4,240,000 $212,000
MANKATO, MN 18 $4,150,000 $230,556
ALTOONA, PA 23 $4,065,000 $176,739
KINGSTON, NY 18 $4,050,000 $225,000
JEFFERSON CITY, MO 25 $3,965,000 $158,600
DALTON, GA 22 $3,890,000 $176,818
BAY CITY, MI 29 $3,865,000 $133,276
SAN ANGELO, TX 20 $3,820,000 $191,000
BATTLE CREEK, MI 22 $3,790,000 $172,273
CHARLESTON, WV 20 $3,650,000 $182,500
SPRINGFIELD, OH 22 $3,650,000 $165,909
COLUMBUS, IN 22 $3,620,000 $164,545
ANNISTON-OXFORD, AL 19 $3,585,000 $188,684
SAGINAW, MI 21 $3,555,000 $169,286
ST. JOSEPH, MO-KS 21 $3,525,000 $167,857
BURLINGTON-SOUTH BURLINGTON, VT 14 $3,510,000 $250,714
LA CROSSE-ONALASKA, WI-MN 19 $3,495,000 $183,947
OWENSBORO, KY 20 $3,490,000 $174,500
ELMIRA, NY 30 $3,430,000 $114,333
MIDLAND, MI 23 $3,425,000 $148,913
KANKAKEE, IL 18 $3,320,000 $184,444
HOT SPRINGS, AR 15 $3,225,000 $215,000
ALBANY, GA 20 $3,220,000 $161,000
MANSFIELD, OH 20 $3,160,000 $158,000
PEORIA, IL 20 $3,150,000 $157,500
CHAMPAIGN-URBANA, IL 19 $3,115,000 $163,947
MUNCIE, IN 18 $3,040,000 $168,889
AMES, IA 14 $2,940,000 $210,000
GRAND FORKS, ND-MN 14 $2,840,000 $202,857
BISMARCK, ND 10 $2,790,000 $279,000
JONESBORO, AR 14 $2,770,000 $197,857
BLOOMINGTON, IL 16 $2,760,000 $172,500
ROME, GA 18 $2,760,000 $153,333
EAU CLAIRE, WI 14 $2,750,000 $196,429
CARBONDALE-MARION, IL 15 $2,645,000 $176,333
BLACKSBURG-CHRISTIANSBURG, VA 11 $2,615,000 $237,727
CAPE GIRARDEAU, MO-IL 13 $2,605,000 $200,385
PINE BLUFF, AR 13 $2,585,000 $198,846
LAWRENCE, KS 12 $2,570,000 $214,167
ERIE, PA 17 $2,525,000 $148,529
CUMBERLAND, MD-WV 17 $2,515,000 $147,941
SYRACUSE, NY 13 $2,475,000 $190,385
ROCHESTER, NY 15 $2,465,000 $164,333
VICTORIA, TX 12 $2,410,000 $200,833
IOWA CITY, IA 11 $2,405,000 $218,636
HARRISONBURG, VA 11 $2,315,000 $210,455
WEIRTON-STEUBENVILLE, WV-OH 15 $2,225,000 $148,333
SIOUX CITY, IA-NE-SD 16 $2,190,000 $136,875
FORT SMITH, AR-OK 14 $2,090,000 $149,286
BINGHAMTON, NY 13 $2,035,000 $156,538
FOND DU LAC, WI 14 $2,020,000 $144,286
WICHITA FALLS, TX 12 $2,010,000 $167,500
LIMA, OH 12 $1,990,000 $165,833
BECKLEY, WV 11 $1,825,000 $165,909
PARKERSBURG-VIENNA, WV 10 $1,640,000 $164,000
WATERLOO-CEDAR FALLS, IA 8 $1,550,000 $193,750
SHEBOYGAN, WI 12 $1,520,000 $126,667
MORGANTOWN, WV 6 $1,450,000 $241,667
BLOOMSBURG-BERWICK, PA 9 $1,375,000 $152,778
DECATUR, IL 7 $1,225,000 $175,000
JOHNSTOWN, PA 7 $1,135,000 $162,143
DUBUQUE, IA 7 $1,055,000 $150,714
GRAND ISLAND, NE 6 $1,040,000 $173,333
WHEELING, WV-OH 5 $845,000 $169,000
GLENS FALLS, NY 4 $830,000 $207,500
UTICA-ROME, NY 3 $585,000 $195,000
DANVILLE, IL 4 $500,000 $125,000
ITHACA, NY 1 $325,000 $325,000
ENID, OK 2 $190,000 $95,000
WATERTOWN-FORT DRUM, NY 1 $125,000 $125,000

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% 1 $415,000 $415,000
2.5-3% 1,364 $392,960,000 $288,094
3-4% 67,650 $18,577,400,000 $274,610
4-5% 34,387 $8,361,995,000 $243,173
5-6% 5,073 $1,117,185,000 $220,222
6-7% 253 $61,825,000 $244,368
7-8% 118 $26,450,000 $224,153
Over 8% 85 $14,185,000 $166,882

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 4,004 $266,970,000 $66,676
$100k-200k 33,309 $5,307,895,000 $159,353
$200k-400k 59,489 $16,627,825,000 $279,511
$400k-600k 11,254 $5,178,860,000 $460,179
$600k-1000k 1,595 $1,095,155,000 $686,618
$Over $1MM 65 $85,515,000 $1,315,615

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% 856 $164,360,000 $192,009
40-60% 3,103 $758,995,000 $244,600
60-80% 13,364 $3,580,190,000 $267,898
80-100% 32,353 $8,608,155,000 $266,070
Over 100% 970 $327,810,000 $337,948
Under 20% 867 $21,815,000 $25,161

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 13,151 $4,195,485,000 $319,024
$150k-250k 6,160 $2,322,920,000 $377,097
$50k-75k 14,550 $3,064,920,000 $210,647
$50k-or less 7,754 $1,168,930,000 $150,752
$75k-100k 12,257 $3,247,705,000 $264,967
$Over $250k 1,185 $499,905,000 $421,861

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 74,784 $19,064,810,000 $254,932
Not provided 15,963 $4,332,035,000 $271,380
Black 13,143 $3,338,915,000 $254,045
Asian 3,949 $1,299,995,000 $329,196
American Indian 1,239 $315,335,000 $254,508
Native Hawaiian 513 $170,465,000 $332,290
Asian Indian 38 $11,880,000 $312,632
Filipino 29 $11,045,000 $380,862
Other Asian 21 $5,705,000 $271,667
Other Pacific Islander 11 $3,345,000 $304,091
Chinese 9 $2,795,000 $310,556
Native Hawiian 7 $2,595,000 $370,714
Guamanian 3 $995,000 $331,667
Vietnamese 2 $880,000 $440,000
Japanese 2 $790,000 $395,000
Korean 2 $510,000 $255,000
Samoan 1 $125,000 $125,000

Approval Rates

Total approvals of all applications
88.73%

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
40.97%

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
0.0 315 $5,755,000 $18,270
1.0 5 $45,000 $9,000
2.0 1 $5,000 $5,000
25.0 1 $25,000 $25,000
NA 109,394 $28,556,390,000 $261,042

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 75,763 $19,451,235,000 $256,738
$1k-2k 10,694 $2,802,260,000 $262,040
$2k-3k 6,538 $1,551,590,000 $237,319
$3k-4k 9,670 $2,339,550,000 $241,939
$5k+ 7,051 $2,417,585,000 $342,871

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 1,143 $195,485,000 $171,028
Single Family (1-4 Units):Site-Built 108,573 $28,366,735,000 $261,269