Bankers Xpress Mortgage Rates, Fees & Info
WOODLAND HILLS, CALEI: 549300MKNHDBMR7OFL25
Tax ID: 46-1954392
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Mortgage Data
Review & Overview
Bankers Xpress is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bankers Xpress has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankers Xpress 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. Bankers Xpress is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
141Origination Dollar Volume (All Markets)
$54,255,000Top 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 |
---|---|---|---|---|---|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 98 | $40,600,000 | $414,286 | $8,832 | 5.01% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 33 | $9,685,000 | $293,485 | $9,121 | 5.16% |
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $1,545,000 | $515,000 | $11,986 | 5.04% |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,868 | 4.69% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $13,159 | 4.75% |
BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $12,340 | 5.63% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,970 | 4.88% |
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,133 | 4.88% |
VISALIA, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,411 | 5.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against BANKERS XPRESS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 105 | $40,085,000 | $381,762 | $7,440 | 5.03% |
FHA | 36 | $14,170,000 | $393,611 | $12,892 | 5.07% |
For 2018, Bankers Xpress's most frequently originated type of loan was Conventional, with 105 originations. Their 2nd most popular type was FHA, with 36 originations.
Loan Reason
For 2018, Bankers Xpress's most frequently cited loan purpose was Home Purchase, with 97 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 135 | $53,045,000 | $392,926 | $9,042 | 5.06% |
15 Year | 5 | $885,000 | $177,000 | $5,290 | 4.60% |
20 Year | 1 | $325,000 | $325,000 | $0 | 4.25% |
For 2018, Bankers Xpress's most frequently cited loan duration was 30 Year, with 135 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Bankers Xpress's average total fees were $9,042, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 43 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 73 | $27,815,000 | $381,027 |
5-6% | 64 | $25,440,000 | $397,500 |
3-4% | 2 | $450,000 | $225,000 |
6-7% | 2 | $550,000 | $275,000 |
During 2018, Bankers Xpress's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.
Loan Sizing
2018 saw Bankers Xpress place emphasis on $200k-400k loans with 69 originations, totaling $21,625,000 in origination value.
Applicant Income
Bankers Xpress lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $50k-75k, with 39 originations.
Applicant Debt to Income Ratio
Bankers Xpress lent most frequently to those with DTI ratios of 49%, with 5 originations. The next most common DTI ratio? 47%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.54%
Bankers Xpress has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination59.57%
Bankers Xpress has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 141 | $54,255,000 | $384,787 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 141 | $54,255,000 | $384,787 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
BANKERS MORTGAGE LENDING, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |