Golden West Alliance Mortgage Rates, Fees & Info

GLENDALE, CA

LEI: 549300M2H0S2WWYNUO61

Tax ID: 20-8169449

2.4 stars - out of 5 stars, based on 18 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Golden West Alliance is a smaller mortgage company specializing in Refi and Home Purchase loans. Golden West Alliance has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Los Angeles, Riverside, Oxnard, Salinas, and San Diego among others. Golden West Alliance 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. Golden West Alliance is typically a high fee lendor.


Originations

311

Origination Dollar Volume (All Markets)

$167,645,000

Relative Rate

Golden West Alliance 's average 30 year fixed rate mortgage of loans were 3.38%.

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

This yields a difference of 0.23%.

Relative Fees

Golden West Alliance 's average total fees for a 30 year fixed rate mortgage are $6,700.

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) 253 $142,385,000 $562,787 $6,866 3.37%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 23 $8,535,000 $371,087 $6,005 3.26%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 9 $5,025,000 $558,333 $4,777 3.19%
SALINAS, CA (FHA|USDA|VA) 7 $3,685,000 $526,429 $6,889 3.21%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 5 $2,585,000 $517,000 $6,461 3.80%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,410,000 $705,000 $3,625 2.88%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $1,290,000 $322,500 $5,129 3.03%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $810,000 $405,000 $4,585 3.13%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $710,000 $355,000 $4,757 3.50%
FRESNO, CA (FHA|USDA|VA) 2 $600,000 $300,000 $3,810 3.13%
REDDING, CA (FHA|USDA|VA) 1 $305,000 $305,000 $9,772 3.63%
MODESTO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $5,228 3.88%

Golden West Alliance 's top markets include Los Angeles, Riverside, Oxnard, Salinas, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 306 $165,050,000 $539,379 $6,525 3.36%
VA 3 $1,685,000 $561,667 $13,370 2.88%
FHA 2 $910,000 $455,000 $15,641 3.25%

For the 2021 period, Golden West Alliance 's most frequently originated loan type of loans were Conventional, with 306 originations. Their 2nd most popular type is VA, with 3 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 145 $66,605,000 $459,345 $5,267 3.21%
Home Purchase 135 $85,805,000 $635,593 $8,112 3.47%
Cash Out Refi 31 $15,235,000 $491,452 $6,743 3.52%

For the 2021, Golden West Alliance 's most frequently cited loan purpose of loans were Refi, with 145 originations. The 2nd most popular reason of loans were Home Purchase, with 135 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 300 $164,480,000 $548,267 $6,700 3.38%
15 Year 10 $2,860,000 $286,000 $5,382 2.78%
10 Year 1 $305,000 $305,000 $3,957 2.50%

For the 2021, Golden West Alliance 's most frequently cited loan length of loans were 30 Year, with 300 originations. The 2nd most popular length of loans were 15 Year, with 10 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 185 $98,335,000 $531,541
$5k+ 52 $35,650,000 $685,577
$3k-4k 35 $16,215,000 $463,286
$2k-3k 30 $13,010,000 $433,667
$<1k 9 $4,435,000 $492,778

$6,700 of loans were Golden West Alliance 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 185 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 209 $116,885,000 $559,258
2.5-3% 75 $35,215,000 $469,533
4-5% 13 $7,015,000 $539,615
<2.5% 7 $2,295,000 $327,857
5-6% 5 $4,735,000 $947,000
6-7% 2 $1,500,000 $750,000

During 2021, Golden West Alliance 's average interest rate of loans were 3.38%, while their most frequently originated rate bucket of loans were 3-4%, with 209 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 115 $57,305,000 $498,304 $5,985 3.33%
$600k-1MM 89 $65,515,000 $736,124 $8,169 3.48%
$200k-400k 87 $27,875,000 $320,402 $5,333 3.23%
$100k-200k 10 $1,570,000 $157,000 $4,997 3.11%
$1MM+ 10 $15,380,000 $1,538,000 $13,865 3.73%

2021 saw Golden West Alliance place emphasis on $400k-600k loans with 115 originations, totaling $57,305,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 106 $57,210,000 $539,717 $6,304 3.35%
$150k-250k 80 $47,500,000 $593,750 $7,036 3.38%
$75k-100k 45 $20,315,000 $451,444 $6,339 3.24%
$50k-75k 37 $12,255,000 $331,216 $5,354 3.19%
$250k+ 27 $24,665,000 $913,519 $9,483 3.63%
$50k or less 14 $4,990,000 $356,429 $6,339 3.58%

Golden West Alliance lent most frequently to those with incomes in the $100k-150k range, with 106 originations. The second most popular income band? $150k-250k, with 80 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 38 $21,410,000 $563,421 $6,981 3.40%
49% 34 $17,140,000 $504,118 $6,509 3.33%
48% 26 $12,310,000 $473,462 $6,040 3.21%
47% 26 $14,820,000 $570,000 $6,378 3.34%
44% 24 $14,800,000 $616,667 $8,307 3.41%
20-30% 23 $11,885,000 $516,739 $5,634 3.26%
42% 23 $12,625,000 $548,913 $8,042 3.43%
45% 21 $9,025,000 $429,762 $7,002 3.55%
46% 18 $9,170,000 $509,444 $5,440 3.22%
43% 18 $9,940,000 $552,222 $5,891 3.41%
41% 13 $7,325,000 $563,462 $7,119 3.35%
40% 10 $5,440,000 $544,000 $6,360 3.83%
39% 10 $9,070,000 $907,000 $8,621 3.46%
38% 9 $4,625,000 $513,889 $5,511 3.14%
36% 8 $3,670,000 $458,750 $4,035 3.11%
<20% 3 $1,065,000 $355,000 $6,066 2.96%
37% 3 $1,415,000 $471,667 $5,741 3.13%
50-60% 2 $1,050,000 $525,000 $12,631 2.94%

Golden West Alliance lent most frequently to those with DTI ratios of 30-36%, with 38 originations. The next most common DTI ratio? 49%, with 34 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 261 $138,655,000 $531,245 $6,602 3.35%
Not provided 19 $10,095,000 $531,316 $7,127 3.21%
Asian 16 $9,320,000 $582,500 $6,664 3.60%
Black 10 $5,210,000 $521,000 $6,536 3.48%
Chinese 1 $2,715,000 $2,715,000 $12,871 2.88%
Korean 1 $545,000 $545,000 $5,568 3.25%
Japanese 1 $475,000 $475,000 $6,918 3.25%
Other Pacific Islander 1 $355,000 $355,000 $6,307 3.13%
American Indian 1 $275,000 $275,000 $5,776 3.38%

Approval Rates

Total approvals of all applications
92.99%

Golden West Alliance has an average approval rate.

Pick Rate

Approvals leading to origination
88.94%

Golden West Alliance has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 311 $167,645,000 $539,051

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
311 $167,645,000 $539,051

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 25 $8,455,000 $338,200 $5,213 3.13%
40-60% 85 $38,535,000 $453,353 $5,479 3.20%
60-80% 131 $81,075,000 $618,893 $7,540 3.47%
80-100% 65 $38,105,000 $586,231 $7,107 3.44%
Under 20% 5 $1,475,000 $295,000 $4,425 2.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GOLDEN 1 CREDIT UNION, THE Conventional home mortgage Struggling to pay mortgage 1 12.5%
GOLDEN 1 CREDIT UNION, THE Conventional home mortgage Trouble during payment process 4 50.0%
GOLDEN 1 CREDIT UNION, THE FHA mortgage Struggling to pay mortgage 1 12.5%
GOLDEN 1 CREDIT UNION, THE FHA mortgage Trouble during payment process 1 12.5%
GOLDEN 1 CREDIT UNION, THE Other type of mortgage Trouble during payment process 1 12.5%