Asian Bank Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 549300MJ0Y817D63DD96

Tax ID: 23-2956401

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Mortgage Data

Review & Overview

Asian Bank is a smaller bank specializing in Home Purchase and Refi loans. Asian Bank has a high proportion of conventional loans. Their top (well, only) market is Philadelphia.

Asian Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

59

Origination Dollar Volume (All Markets)

$18,835,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 59 $18,835,000 $319,237 $0 0.00%
Asian Bank's top markets include and Philadelphia among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $18,835,000 $319,237 $0 0.00%

    For 2018, Asian Bank's most frequently originated type of loan was Conventional, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 43 $11,555,000 $268,721 $0 0.00%
    Refi 16 $7,280,000 $455,000 $0 0.00%

    For 2018, Asian Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 59 $18,835,000 $319,237 $0 0.00%

    For 2018, Asian Bank's most frequently cited loan duration was Other, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,640,000 $146,667 $0 0.00%
    $200k-400k 16 $4,240,000 $265,000 $0 0.00%
    $100,000 or less 8 $650,000 $81,250 $0 0.00%
    $400k-600k 8 $3,810,000 $476,250 $0 0.00%
    $600k-1MM 7 $5,185,000 $740,714 $0 0.00%
    $1MM+ 2 $2,310,000 $1,155,000 $0 0.00%

    2018 saw Asian Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 29 $4,595,000 $158,448 $0 0.00%
    $50k-75k 4 $1,390,000 $347,500 $0 0.00%
    $75k-100k 2 $780,000 $390,000 $0 0.00%
    $100k-150k 1 $985,000 $985,000 $0 0.00%

    Asian Bank lent most frequently to those with incomes in the $50k or less range, with 29 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 59 $18,835,000 $319,237 $0 0.00%

    Asian Bank lent most frequently to those with DTI ratios of Exempt%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $10,215,000 $486,429 $0 0.00%
    Asian 38 $8,620,000 $226,842 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Asian Bank 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
    88.14%

    Asian Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 59 $18,835,000 $319,237

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $5,350,000 $668,750
    Single Family (1-4 Units):Site-Built 51 $13,485,000 $264,412