Asian Bank Mortgage Rates, Fees & Info
Philadelphia, PALEI: 549300MJ0Y817D63DD96
Tax ID: 23-2956401
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
59Origination Dollar Volume (All Markets)
$18,835,000Top 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% |
Their top states include:
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
2018 saw Asian Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,640,000 in origination value.
Applicant Income
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 applications100.00%
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 origination88.14%
Asian Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 59 | $18,835,000 | $319,237 |