Nfm, Inc.

Linthicum, MD 21090

LEI: 549300MCIFZSDHUT8X63

Tax ID: 52-2102740

2019 Data | 2018 Data


Overview

Nfm, Inc. is a small mortgage company specializing in Home Purchase loans. Nfm, Inc. 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 Washington, Baltimore, Phoenix, Tampa, and Richmond among others. They have an above 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. Nfm, Inc. is typically a normal fee medium-low fee lendor.


Originations

12,058

Origination Dollar Volume (All Markets)

$3,271,290,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,202 $2,023,030,000 $280,898
FHA 3,551 $851,035,000 $239,661
VA 1,136 $365,900,000 $322,095
USDA 169 $31,325,000 $185,355

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 9,369 $2,465,005,000 $263,102
Refi 1,858 $589,660,000 $317,363
Cash Out Refi 831 $216,625,000 $260,680

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
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 1,464 $533,130,000 $364,160
BALTIMORE-COLUMBIA-TOWSON, MD 1,626 $478,560,000 $294,317
PHOENIX-MESA-CHANDLER, AZ 1,328 $328,570,000 $247,417
TAMPA-ST. PETERSBURG-CLEARWATER, FL 1,006 $258,030,000 $256,491
RICHMOND, VA 755 $191,625,000 $253,808
COLUMBUS, OH 906 $181,890,000 $200,762
DENVER-AURORA-LAKEWOOD, CO 467 $176,335,000 $377,591
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 454 $156,750,000 $345,264
PROVIDENCE-WARWICK, RI-MA 626 $156,580,000 $250,128
Outside of Metro Areas 489 $105,615,000 $215,982
CHARLOTTE-CONCORD-GASTONIA, NC-SC 366 $87,420,000 $238,852
NORTH PORT-SARASOTA-BRADENTON, FL 242 $61,600,000 $254,545
MIAMI-MIAMI BEACH-KENDALL, FL 186 $54,750,000 $294,355
YORK-HANOVER, PA 199 $37,895,000 $190,427
CAMDEN, NJ 181 $35,605,000 $196,713
CHARLOTTESVILLE, VA 101 $26,755,000 $264,901
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 77 $21,695,000 $281,753
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 69 $21,585,000 $312,826
BOSTON, MA 51 $21,485,000 $421,275
RALEIGH-CARY, NC 76 $17,590,000 $231,447
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 45 $15,835,000 $351,889
GREELEY, CO 40 $13,630,000 $340,750
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 82 $12,780,000 $155,854
BOULDER, CO 33 $12,445,000 $377,121
PHILADELPHIA, PA 57 $12,225,000 $214,474
HAGERSTOWN-MARTINSBURG, MD-WV 52 $10,550,000 $202,885
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 22 $8,940,000 $406,364
GREENSBORO-HIGH POINT, NC 51 $8,785,000 $172,255
SALISBURY, MD-DE 35 $8,755,000 $250,143
FAYETTEVILLE, NC 44 $8,080,000 $183,636
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 30 $8,070,000 $269,000
DAYTON-KETTERING, OH 43 $8,065,000 $187,558
WILMINGTON, DE-MD-NJ 39 $8,035,000 $206,026
JACKSONVILLE, FL 33 $7,905,000 $239,545
NEW ORLEANS-METAIRIE, LA 34 $7,420,000 $218,235
ORLANDO-KISSIMMEE-SANFORD, FL 27 $6,605,000 $244,630
NEW BRUNSWICK-LAKEWOOD, NJ 22 $6,380,000 $290,000
WINSTON-SALEM, NC 37 $6,135,000 $165,811
LANCASTER, PA 33 $6,125,000 $185,606
HARRISBURG-CARLISLE, PA 35 $6,015,000 $171,857
WORCESTER, MA-CT 22 $6,010,000 $273,182
HUNTINGTON-ASHLAND, WV-KY-OH 46 $5,960,000 $129,565
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 23 $5,835,000 $253,696
NEWARK, NJ-PA 22 $5,800,000 $263,636
EAST STROUDSBURG, PA 35 $5,305,000 $151,571
LAKELAND-WINTER HAVEN, FL 20 $3,740,000 $187,000
GETTYSBURG, PA 18 $3,260,000 $181,111
CALIFORNIA-LEXINGTON PARK, MD 11 $3,115,000 $283,182
NAPLES-MARCO ISLAND, FL 7 $2,965,000 $423,571
COLORADO SPRINGS, CO 9 $2,875,000 $319,444
DURHAM-CHAPEL HILL, NC 12 $2,870,000 $239,167
HILTON HEAD ISLAND-BLUFFTON, SC 3 $2,375,000 $791,667
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 4 $2,340,000 $585,000
CAPE CORAL-FORT MYERS, FL 9 $2,245,000 $249,444
PALM BAY-MELBOURNE-TITUSVILLE, FL 8 $2,220,000 $277,500
FORT COLLINS, CO 6 $2,210,000 $368,333
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 7 $2,205,000 $315,000
HOMOSASSA SPRINGS, FL 10 $2,160,000 $216,000
Outside of Metro Areas 7 $2,135,000 $305,000
READING, PA 9 $1,975,000 $219,444
CHARLESTON-NORTH CHARLESTON, SC 6 $1,910,000 $318,333
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 10 $1,890,000 $189,000
CLEVELAND-ELYRIA, OH 10 $1,860,000 $186,000
CINCINNATI, OH-KY-IN 7 $1,765,000 $252,143
WINCHESTER, VA-WV 7 $1,755,000 $250,714
CHICAGO-NAPERVILLE-EVANSTON, IL 5 $1,745,000 $349,000
SANTA ROSA-PETALUMA, CA 2 $1,720,000 $860,000
PENSACOLA-FERRY PASS-BRENT, FL 5 $1,665,000 $333,000
PUNTA GORDA, FL 12 $1,660,000 $138,333
LYNCHBURG, VA 10 $1,610,000 $161,000
LEBANON, PA 10 $1,590,000 $159,000
BARNSTABLE TOWN, MA 4 $1,520,000 $380,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 8 $1,460,000 $182,500
HARRISONBURG, VA 5 $1,365,000 $273,000
NORWICH-NEW LONDON, CT 6 $1,340,000 $223,333
PITTSBURGH, PA 7 $1,305,000 $186,429
HICKORY-LENOIR-MORGANTON, NC 7 $1,285,000 $183,571
SALT LAKE CITY, UT 1 $1,285,000 $1,285,000
VINELAND-BRIDGETON, NJ 8 $1,210,000 $151,250
SCRANTON--WILKES-BARRE, PA 13 $1,195,000 $91,923
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 4 $1,160,000 $290,000
TUCSON, AZ 4 $1,160,000 $290,000
ATLANTIC CITY-HAMMONTON, NJ 6 $1,140,000 $190,000
KNOXVILLE, TN 3 $1,095,000 $365,000
STAUNTON, VA 6 $1,020,000 $170,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 2 $1,000,000 $500,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 2 $930,000 $465,000
WILMINGTON, NC 2 $900,000 $450,000
SPRINGFIELD, MA 4 $890,000 $222,500
OCEAN CITY, NJ 2 $890,000 $445,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 4 $870,000 $217,500
CORPUS CHRISTI, TX 4 $850,000 $212,500
PRESCOTT VALLEY-PRESCOTT, AZ 3 $805,000 $268,333
PORT ST. LUCIE, FL 5 $805,000 $161,000
LOS ANGELES-LONG BEACH-GLENDALE, CA 2 $790,000 $395,000
SPRINGFIELD, OH 6 $710,000 $118,333
NEW HAVEN-MILFORD, CT 4 $710,000 $177,500
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 3 $705,000 $235,000
GAINESVILLE, FL 3 $695,000 $231,667
OCALA, FL 5 $685,000 $137,000
CHAMBERSBURG-WAYNESBORO, PA 4 $680,000 $170,000
TRENTON-PRINCETON, NJ 4 $660,000 $165,000
DALLAS-PLANO-IRVING, TX 2 $620,000 $310,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 1 $605,000 $605,000
MANSFIELD, OH 4 $600,000 $150,000
JACKSONVILLE, NC 4 $580,000 $145,000
SAN ANTONIO-NEW BRAUNFELS, TX 3 $575,000 $191,667
GRAND JUNCTION, CO 2 $520,000 $260,000
ROANOKE, VA 2 $510,000 $255,000
DOVER, DE 1 $465,000 $465,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 1 $465,000 $465,000
MANCHESTER-NASHUA, NH 2 $460,000 $230,000
COLUMBIA, SC 2 $460,000 $230,000
PUEBLO, CO 2 $450,000 $225,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $445,000 $445,000
GOLDSBORO, NC 3 $435,000 $145,000
CANTON-MASSILLON, OH 4 $430,000 $107,500
ROCKY MOUNT, NC 3 $425,000 $141,667
FLAGSTAFF, AZ 1 $395,000 $395,000
BLACKSBURG-CHRISTIANSBURG, VA 2 $390,000 $195,000
COLLEGE STATION-BRYAN, TX 3 $385,000 $128,333
PORTLAND-SOUTH PORTLAND, ME 2 $380,000 $190,000
FARMINGTON, NM 1 $375,000 $375,000
CHARLESTON, WV 2 $370,000 $185,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $365,000 $365,000
SPARTANBURG, SC 2 $360,000 $180,000
WARREN-TROY-FARMINGTON HILLS, MI 1 $345,000 $345,000
STATE COLLEGE, PA 1 $345,000 $345,000
PITTSFIELD, MA 2 $340,000 $170,000
WILLIAMSPORT, PA 1 $305,000 $305,000
ASHEVILLE, NC 1 $285,000 $285,000
MADISON, WI 1 $285,000 $285,000
EL PASO, TX 2 $280,000 $140,000
STOCKTON, CA 1 $265,000 $265,000
PANAMA CITY, FL 1 $255,000 $255,000
SIERRA VISTA-DOUGLAS, AZ 1 $255,000 $255,000
MEMPHIS, TN-MS-AR 1 $255,000 $255,000
BIRMINGHAM-HOOVER, AL 1 $245,000 $245,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $215,000 $215,000
BURLINGTON, NC 1 $205,000 $205,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 1 $205,000 $205,000
CUMBERLAND, MD-WV 1 $185,000 $185,000
AKRON, OH 2 $180,000 $90,000
GREENVILLE, NC 1 $175,000 $175,000
TALLAHASSEE, FL 1 $175,000 $175,000
FLORENCE, SC 1 $175,000 $175,000
ATHENS-CLARKE COUNTY, GA 1 $165,000 $165,000
FLORENCE-MUSCLE SHOALS, AL 1 $155,000 $155,000
NEW BERN, NC 1 $145,000 $145,000
GREENVILLE-ANDERSON, SC 1 $145,000 $145,000
HAMMOND, LA 1 $135,000 $135,000
BATON ROUGE, LA 1 $135,000 $135,000
TOLEDO, OH 1 $135,000 $135,000
SEBRING-AVON PARK, FL 1 $105,000 $105,000

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 $355,000 $355,000
2.5-3% 49 $14,975,000 $305,612
3-4% 4,370 $1,327,700,000 $303,822
4-5% 6,311 $1,652,005,000 $261,766
5-6% 1,281 $268,685,000 $209,746
6-7% 32 $6,920,000 $216,250
7-8% 11 $165,000 $15,000
Over 8% 3 $485,000 $161,667

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 475 $35,665,000 $75,084
$100k-200k 3,265 $515,575,000 $157,910
$200k-400k 6,582 $1,821,310,000 $276,711
$400k-600k 1,435 $671,595,000 $468,010
$600k-1000k 271 $189,645,000 $699,797
$Over $1MM 30 $37,500,000 $1,250,000

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% 121 $18,975,000 $156,818
40-60% 502 $125,140,000 $249,283
60-80% 2,367 $695,735,000 $293,931
80-100% 8,735 $2,339,715,000 $267,855
Over 100% 288 $90,340,000 $313,681
Under 20% 44 $1,170,000 $26,591

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 2,300 $730,900,000 $317,783
$150k-250k 1,274 $498,280,000 $391,115
$50k-75k 3,294 $724,470,000 $219,936
$50k-or less 2,371 $456,505,000 $192,537
$75k-100k 2,325 $622,955,000 $267,938
$Over $250k 435 $219,395,000 $504,356

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 9,360 $2,539,460,000 $271,310
Black 1,402 $362,810,000 $258,780
Not provided 888 $250,180,000 $281,734
Asian 321 $94,045,000 $292,975
American Indian 42 $11,470,000 $273,095
Native Hawaiian 41 $10,945,000 $266,951
Japanese 1 $1,235,000 $1,235,000
Native Hawiian 1 $475,000 $475,000
Other Pacific Islander 1 $345,000 $345,000
Other Asian 1 $325,000 $325,000

Approval Rates

Total approvals of all applications
96.64%

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
84.55%

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
NA 12,058 $3,271,290,000 $271,296

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,879 $743,455,000 $258,234
$1k-2k 4,329 $1,213,675,000 $280,359
$2k-3k 1,193 $276,145,000 $231,471
$3k-4k 1,180 $321,670,000 $272,602
$5k+ 636 $246,530,000 $387,626

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 62 $8,630,000 $139,194
Single Family (1-4 Units):Site-Built 11,996 $3,262,660,000 $271,979