Finance Of America Mortgage Llc

Horsham, PA 19044

LEI: 549300MXJA09WZJ0DV55

Tax ID: 23-2769131

2019 Data *Active* | 2018 Data


Overview

Finance Of America Mortgage Llc is a large mortgage company specializing in Home Purchase and Refi loans. Finance Of America Mortgage Llc 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 Los Angeles, Sacramento, Portland, Phoenix, and San Diego 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. Finance Of America Mortgage Llc is typically a normal medium-low/ fee lendor.


Originations

49,939

Origination Dollar Volume (All Markets)

$15,356,645,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 36,670 $11,566,140,000 $315,412
FHA 9,441 $2,509,735,000 $265,834
VA 3,321 $1,185,295,000 $356,909
USDA 507 $95,475,000 $188,314

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 30,912 $8,651,750,000 $279,883
Home Improvement 57 $14,065,000 $246,754
Other 661 $169,785,000 $256,861
Refi 10,895 $4,101,885,000 $376,492
Cash Out Refi 7,414 $2,419,160,000 $326,296

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 3,703 $1,727,575,000 $466,534
SACRAMENTO-ROSEVILLE-FOLSOM, CA 3,832 $1,285,540,000 $335,475
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 2,549 $836,415,000 $328,135
PHOENIX-MESA-CHANDLER, AZ 2,814 $715,810,000 $254,375
Outside of Metro Areas 3,144 $667,230,000 $212,223
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 1,409 $658,245,000 $467,172
SEATTLE-BELLEVUE-KENT, WA 1,447 $618,575,000 $427,488
ANAHEIM-SANTA ANA-IRVINE, CA 1,124 $588,450,000 $523,532
OAKLAND-BERKELEY-LIVERMORE, CA 1,199 $562,025,000 $468,745
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,575 $481,755,000 $305,876
STOCKTON, CA 934 $251,000,000 $268,737
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 417 $230,865,000 $553,633
LAS VEGAS-HENDERSON-PARADISE, NV 870 $223,660,000 $257,080
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 743 $216,845,000 $291,851
EUGENE-SPRINGFIELD, OR 811 $214,455,000 $264,433
TACOMA-LAKEWOOD, WA 749 $211,825,000 $282,810
OXNARD-THOUSAND OAKS-VENTURA, CA 412 $202,060,000 $490,437
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 596 $155,770,000 $261,359
BOISE CITY, ID 628 $152,930,000 $243,519
DENVER-AURORA-LAKEWOOD, CO 445 $150,945,000 $339,202
NEW BRUNSWICK-LAKEWOOD, NJ 443 $146,405,000 $330,485
NEWARK, NJ-PA 453 $138,585,000 $305,927
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 338 $138,040,000 $408,402
SALINAS, CA 329 $134,505,000 $408,830
RENO, NV 446 $129,810,000 $291,054
PHILADELPHIA, PA 546 $129,030,000 $236,319
DALLAS-PLANO-IRVING, TX 374 $121,150,000 $323,930
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 503 $119,325,000 $237,227
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 651 $117,945,000 $181,175
GRAND RAPIDS-KENTWOOD, MI 637 $117,025,000 $183,713
ALBUQUERQUE, NM 674 $112,300,000 $166,617
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 169 $108,995,000 $644,941
SANTA ROSA-PETALUMA, CA 232 $107,140,000 $461,810
TRENTON-PRINCETON, NJ 436 $105,630,000 $242,271
VALLEJO, CA 271 $99,785,000 $368,210
CAMDEN, NJ 496 $98,910,000 $199,415
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 241 $93,265,000 $386,992
URBAN HONOLULU, HI 163 $87,345,000 $535,859
SALT LAKE CITY, UT 296 $83,420,000 $281,824
SANTA MARIA-SANTA BARBARA, CA 152 $80,550,000 $529,934
CHICAGO-NAPERVILLE-EVANSTON, IL 247 $69,005,000 $279,372
INDIANAPOLIS-CARMEL-ANDERSON, IN 388 $66,590,000 $171,624
KENNEWICK-RICHLAND, WA 303 $65,745,000 $216,980
MODESTO, CA 261 $64,245,000 $246,149
VINELAND-BRIDGETON, NJ 390 $61,050,000 $156,538
VISALIA, CA 187 $59,395,000 $317,620
BAKERSFIELD, CA 212 $56,450,000 $266,274
YUBA CITY, CA 234 $55,980,000 $239,231
SANTA CRUZ-WATSONVILLE, CA 99 $54,815,000 $553,687
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 193 $54,235,000 $281,010
SCRANTON--WILKES-BARRE, PA 339 $50,515,000 $149,012
FRESNO, CA 180 $48,520,000 $269,556
KANSAS CITY, MO-KS 221 $47,125,000 $213,235
SALEM, OR 175 $45,155,000 $258,029
KAHULUI-WAILUKU-LAHAINA, HI 87 $40,525,000 $465,805
BEND, OR 134 $39,900,000 $297,761
PALM BAY-MELBOURNE-TITUSVILLE, FL 184 $39,230,000 $213,207
ORLANDO-KISSIMMEE-SANFORD, FL 144 $38,310,000 $266,042
CHARLOTTE-CONCORD-GASTONIA, NC-SC 145 $37,605,000 $259,345
APPLETON, WI 227 $37,565,000 $165,485
CAPE CORAL-FORT MYERS, FL 187 $36,885,000 $197,246
FLORENCE, SC 249 $36,095,000 $144,960
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 86 $33,700,000 $391,860
WINCHESTER, VA-WV 144 $33,110,000 $229,931
Outside of Metro Areas 100 $32,440,000 $324,400
BOSTON, MA 91 $31,845,000 $349,945
PROVO-OREM, UT 112 $31,630,000 $282,411
TAMPA-ST. PETERSBURG-CLEARWATER, FL 134 $31,230,000 $233,060
AUSTIN-ROUND ROCK-GEORGETOWN, TX 96 $30,970,000 $322,604
SAN LUIS OBISPO-PASO ROBLES, CA 62 $30,100,000 $485,484
FORT WORTH-ARLINGTON-GRAPEVINE, TX 101 $29,135,000 $288,465
CHARLOTTESVILLE, VA 121 $28,705,000 $237,231
SPOKANE-SPOKANE VALLEY, WA 140 $28,360,000 $202,571
PITTSBURGH, PA 137 $28,335,000 $206,825
LAKE COUNTY-KENOSHA COUNTY, IL-WI 128 $28,310,000 $221,172
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 69 $27,195,000 $394,130
BALTIMORE-COLUMBIA-TOWSON, MD 70 $26,350,000 $376,429
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 110 $25,210,000 $229,182
CINCINNATI, OH-KY-IN 170 $24,910,000 $146,529
COLORADO SPRINGS, CO 92 $24,710,000 $268,587
TYLER, TX 131 $24,145,000 $184,313
PRESCOTT VALLEY-PRESCOTT, AZ 85 $23,725,000 $279,118
DES MOINES-WEST DES MOINES, IA 114 $23,450,000 $205,702
GREEN BAY, WI 148 $23,260,000 $157,162
OLYMPIA-LACEY-TUMWATER, WA 84 $22,860,000 $272,143
OSHKOSH-NEENAH, WI 165 $21,785,000 $132,030
LONGVIEW, WA 95 $21,445,000 $225,737
TUCSON, AZ 92 $20,970,000 $227,935
OGDEN-CLEARFIELD, UT 82 $20,620,000 $251,463
EAST STROUDSBURG, PA 130 $20,430,000 $157,154
MADERA, CA 60 $20,330,000 $338,833
BREMERTON-SILVERDALE-PORT ORCHARD, WA 62 $20,140,000 $324,839
SAN RAFAEL, CA 34 $20,010,000 $588,529
JACKSONVILLE, FL 91 $19,605,000 $215,440
HILTON HEAD ISLAND-BLUFFTON, SC 77 $19,295,000 $250,584
LAKE HAVASU CITY-KINGMAN, AZ 112 $18,710,000 $167,054
ALBANY-LEBANON, OR 79 $18,345,000 $232,215
ANCHORAGE, AK 63 $17,945,000 $284,841
WILMINGTON, DE-MD-NJ 74 $17,870,000 $241,486
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 54 $17,340,000 $321,111
WENATCHEE, WA 62 $17,120,000 $276,129
BROWNSVILLE-HARLINGEN, TX 148 $17,030,000 $115,068
SAN ANTONIO-NEW BRAUNFELS, TX 60 $16,830,000 $280,500
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 56 $16,380,000 $292,500
PROVIDENCE-WARWICK, RI-MA 60 $16,330,000 $272,167
YAKIMA, WA 95 $16,325,000 $171,842
BIRMINGHAM-HOOVER, AL 124 $16,290,000 $131,371
CHICO, CA 71 $16,095,000 $226,690
ELGIN, IL 66 $15,920,000 $241,212
PUNTA GORDA, FL 87 $15,825,000 $181,897
PUEBLO, CO 96 $15,360,000 $160,000
ATLANTIC CITY-HAMMONTON, NJ 73 $14,735,000 $201,849
RALEIGH-CARY, NC 43 $14,665,000 $341,047
HAGERSTOWN-MARTINSBURG, MD-WV 74 $14,500,000 $195,946
NAPLES-MARCO ISLAND, FL 44 $14,320,000 $325,455
MERCED, CA 65 $14,065,000 $216,385
NORTH PORT-SARASOTA-BRADENTON, FL 63 $13,605,000 $215,952
NAPA, CA 27 $13,575,000 $502,778
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 42 $13,530,000 $322,143
CARSON CITY, NV 54 $13,440,000 $248,889
LA CROSSE-ONALASKA, WI-MN 89 $13,425,000 $150,843
LANCASTER, PA 68 $13,090,000 $192,500
LOGAN, UT-ID 49 $13,065,000 $266,633
BRIDGEPORT-STAMFORD-NORWALK, CT 34 $13,010,000 $382,647
READING, PA 67 $12,905,000 $192,612
OCEAN CITY, NJ 37 $12,845,000 $347,162
COLUMBIA, SC 65 $12,455,000 $191,615
GREENVILLE-ANDERSON, SC 64 $12,390,000 $193,594
CHARLESTON-NORTH CHARLESTON, SC 55 $11,885,000 $216,091
WORCESTER, MA-CT 45 $11,685,000 $259,667
RICHMOND, VA 46 $11,590,000 $251,957
SPARTANBURG, SC 68 $11,590,000 $170,441
HANFORD-CORCORAN, CA 38 $11,040,000 $290,526
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 63 $10,865,000 $172,460
BELLINGHAM, WA 34 $10,780,000 $317,059
GREELEY, CO 41 $10,455,000 $255,000
COEUR D'ALENE, ID 36 $10,280,000 $285,556
MEMPHIS, TN-MS-AR 73 $9,745,000 $133,493
MIAMI-MIAMI BEACH-KENDALL, FL 34 $9,720,000 $285,882
WARREN-TROY-FARMINGTON HILLS, MI 42 $9,230,000 $219,762
NASSAU COUNTY-SUFFOLK COUNTY, NY 23 $8,935,000 $388,478
FLAGSTAFF, AZ 31 $8,775,000 $283,065
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 44 $8,590,000 $195,227
NEW HAVEN-MILFORD, CT 38 $8,430,000 $221,842
EAU CLAIRE, WI 55 $8,145,000 $148,091
YORK-HANOVER, PA 32 $7,990,000 $249,688
SPRINGFIELD, MA 38 $7,830,000 $206,053
KNOXVILLE, TN 42 $7,370,000 $175,476
ST. GEORGE, UT 24 $7,170,000 $298,750
SANTA FE, NM 31 $7,155,000 $230,806
ROCHESTER, NY 45 $7,125,000 $158,333
ASHEVILLE, NC 29 $6,705,000 $231,207
LEXINGTON-FAYETTE, KY 40 $6,580,000 $164,500
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 22 $6,570,000 $298,636
CORVALLIS, OR 20 $6,330,000 $316,500
FORT COLLINS, CO 18 $5,520,000 $306,667
ST. LOUIS, MO-IL 22 $5,490,000 $249,545
DURHAM-CHAPEL HILL, NC 19 $5,305,000 $279,211
LANSING-EAST LANSING, MI 32 $5,180,000 $161,875
MEDFORD, OR 20 $4,870,000 $243,500
HARRISBURG-CARLISLE, PA 25 $4,795,000 $191,800
REDDING, CA 19 $4,755,000 $250,263
BOULDER, CO 13 $4,475,000 $344,231
COLUMBUS, OH 14 $4,430,000 $316,429
KALAMAZOO-PORTAGE, MI 22 $4,330,000 $196,818
MILWAUKEE-WAUKESHA, WI 17 $4,305,000 $253,235
HUNTSVILLE, AL 20 $3,960,000 $198,000
MOUNT VERNON-ANACORTES, WA 13 $3,715,000 $285,769
SALISBURY, MD-DE 14 $3,680,000 $262,857
OMAHA-COUNCIL BLUFFS, NE-IA 16 $3,670,000 $229,375
PORT ST. LUCIE, FL 17 $3,645,000 $214,412
OKLAHOMA CITY, OK 15 $3,555,000 $237,000
GARY, IN 15 $3,485,000 $232,333
MUSKEGON, MI 27 $3,425,000 $126,852
DETROIT-DEARBORN-LIVONIA, MI 13 $3,285,000 $252,692
LEBANON, PA 13 $3,105,000 $238,846
STATE COLLEGE, PA 11 $2,855,000 $259,545
YUMA, AZ 17 $2,775,000 $163,235
IDAHO FALLS, ID 12 $2,650,000 $220,833
NEW ORLEANS-METAIRIE, LA 10 $2,620,000 $262,000
WALLA WALLA, WA 11 $2,605,000 $236,818
SUMTER, SC 22 $2,590,000 $117,727
NORWICH-NEW LONDON, CT 12 $2,580,000 $215,000
WINSTON-SALEM, NC 9 $2,555,000 $283,889
LONGVIEW, TX 16 $2,520,000 $157,500
CAPE GIRARDEAU, MO-IL 17 $2,405,000 $141,471
MADISON, WI 7 $2,355,000 $336,429
BARNSTABLE TOWN, MA 8 $2,290,000 $286,250
BATON ROUGE, LA 8 $2,260,000 $282,500
LAKELAND-WINTER HAVEN, FL 11 $2,185,000 $198,636
CHATTANOOGA, TN-GA 8 $2,130,000 $266,250
FOND DU LAC, WI 17 $2,125,000 $125,000
ANN ARBOR, MI 6 $2,100,000 $350,000
FLINT, MI 11 $2,085,000 $189,545
FORT WAYNE, IN 8 $2,060,000 $257,500
TULSA, OK 9 $2,035,000 $226,111
DULUTH, MN-WI 9 $2,005,000 $222,778
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 7 $1,985,000 $283,571
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 7 $1,985,000 $283,571
PORTLAND-SOUTH PORTLAND, ME 4 $1,960,000 $490,000
SIERRA VISTA-DOUGLAS, AZ 11 $1,895,000 $172,273
WILMINGTON, NC 7 $1,865,000 $266,429
SAVANNAH, GA 10 $1,860,000 $186,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 7 $1,835,000 $262,143
PENSACOLA-FERRY PASS-BRENT, FL 5 $1,805,000 $361,000
MIDLAND, TX 7 $1,725,000 $246,429
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 10 $1,720,000 $172,000
CLEVELAND-ELYRIA, OH 8 $1,690,000 $211,250
MCALLEN-EDINBURG-MISSION, TX 10 $1,670,000 $167,000
GRANTS PASS, OR 7 $1,645,000 $235,000
GREENVILLE, NC 10 $1,640,000 $164,000
WICHITA, KS 10 $1,640,000 $164,000
TWIN FALLS, ID 7 $1,615,000 $230,714
EL PASO, TX 7 $1,405,000 $200,714
SOUTH BEND-MISHAWAKA, IN-MI 7 $1,275,000 $182,143
MISSOULA, MT 4 $1,240,000 $310,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 3 $1,225,000 $408,333
MANCHESTER-NASHUA, NH 6 $1,220,000 $203,333
GAINESVILLE, FL 7 $1,215,000 $173,571
FARGO, ND-MN 3 $1,205,000 $401,667
AMES, IA 6 $1,190,000 $198,333
LAWRENCE, KS 6 $1,190,000 $198,333
LAS CRUCES, NM 6 $1,180,000 $196,667
ROCHESTER, MN 8 $1,140,000 $142,500
LEWISTON, ID-WA 6 $1,110,000 $185,000
BATTLE CREEK, MI 4 $1,110,000 $277,500
AKRON, OH 5 $1,095,000 $219,000
NILES, MI 7 $1,095,000 $156,429
KILLEEN-TEMPLE, TX 7 $1,085,000 $155,000
COLUMBIA, MO 4 $1,080,000 $270,000
LAREDO, TX 6 $1,070,000 $178,333
EL CENTRO, CA 5 $1,045,000 $209,000
FAYETTEVILLE, NC 4 $1,040,000 $260,000
BLOOMSBURG-BERWICK, PA 5 $995,000 $199,000
ROCKFORD, IL 6 $960,000 $160,000
AUGUSTA-RICHMOND COUNTY, GA-SC 5 $955,000 $191,000
POCATELLO, ID 6 $910,000 $151,667
MIDLAND, MI 6 $900,000 $150,000
PITTSFIELD, MA 3 $895,000 $298,333
HICKORY-LENOIR-MORGANTON, NC 5 $825,000 $165,000
WAUSAU-WESTON, WI 6 $810,000 $135,000
SHERMAN-DENISON, TX 2 $810,000 $405,000
PEORIA, IL 5 $775,000 $155,000
BILLINGS, MT 2 $770,000 $385,000
HAMMOND, LA 3 $765,000 $255,000
ST. CLOUD, MN 3 $755,000 $251,667
CORPUS CHRISTI, TX 2 $750,000 $375,000
MUNCIE, IN 6 $720,000 $120,000
RACINE, WI 4 $720,000 $180,000
MORRISTOWN, TN 3 $705,000 $235,000
TOPEKA, KS 7 $685,000 $97,857
COLLEGE STATION-BRYAN, TX 3 $675,000 $225,000
CLARKSVILLE, TN-KY 2 $670,000 $335,000
ROANOKE, VA 3 $665,000 $221,667
JANESVILLE-BELOIT, WI 3 $655,000 $218,333
STAUNTON, VA 4 $630,000 $157,500
TOLEDO, OH 2 $630,000 $315,000
TALLAHASSEE, FL 3 $625,000 $208,333
TERRE HAUTE, IN 2 $620,000 $310,000
AUBURN-OPELIKA, AL 2 $610,000 $305,000
LUBBOCK, TX 3 $595,000 $198,333
ATHENS-CLARKE COUNTY, GA 2 $590,000 $295,000
GETTYSBURG, PA 2 $590,000 $295,000
SHEBOYGAN, WI 4 $590,000 $147,500
DAYTON-KETTERING, OH 5 $585,000 $117,000
BUFFALO-CHEEKTOWAGA, NY 3 $585,000 $195,000
IOWA CITY, IA 3 $575,000 $191,667
CANTON-MASSILLON, OH 3 $515,000 $171,667
JOPLIN, MO 2 $510,000 $255,000
VALDOSTA, GA 2 $510,000 $255,000
DOTHAN, AL 2 $500,000 $250,000
DOVER, DE 2 $480,000 $240,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $480,000 $240,000
SEBASTIAN-VERO BEACH, FL 2 $480,000 $240,000
WACO, TX 2 $480,000 $240,000
DALTON, GA 3 $475,000 $158,333
LAKE CHARLES, LA 1 $475,000 $475,000
LAWTON, OK 2 $470,000 $235,000
MONTGOMERY, AL 2 $460,000 $230,000
GAINESVILLE, GA 3 $455,000 $151,667
MANKATO, MN 2 $450,000 $225,000
BURLINGTON, NC 4 $450,000 $112,500
MANHATTAN, KS 3 $445,000 $148,333
GULFPORT-BILOXI, MS 3 $445,000 $148,333
MORGANTOWN, WV 2 $440,000 $220,000
HOMOSASSA SPRINGS, FL 2 $430,000 $215,000
SAN ANGELO, TX 2 $430,000 $215,000
OCALA, FL 3 $425,000 $141,667
COLUMBUS, IN 2 $420,000 $210,000
SHREVEPORT-BOSSIER CITY, LA 1 $415,000 $415,000
ABILENE, TX 2 $410,000 $205,000
HARRISONBURG, VA 2 $410,000 $205,000
BEAUMONT-PORT ARTHUR, TX 1 $395,000 $395,000
GREENSBORO-HIGH POINT, NC 2 $380,000 $190,000
ELIZABETHTOWN-FORT KNOX, KY 2 $380,000 $190,000
MOBILE, AL 2 $380,000 $190,000
CUMBERLAND, MD-WV 3 $365,000 $121,667
PANAMA CITY, FL 1 $365,000 $365,000
ALTOONA, PA 3 $355,000 $118,333
NEW BERN, NC 4 $350,000 $87,500
JACKSON, MI 2 $330,000 $165,000
BURLINGTON-SOUTH BURLINGTON, VT 1 $325,000 $325,000
EVANSVILLE, IN-KY 2 $320,000 $160,000
SPRINGFIELD, MO 2 $320,000 $160,000
SIOUX FALLS, SD 1 $315,000 $315,000
SIOUX CITY, IA-NE-SD 2 $310,000 $155,000
ST. JOSEPH, MO-KS 5 $305,000 $61,000
ALBANY, GA 1 $295,000 $295,000
BLACKSBURG-CHRISTIANSBURG, VA 1 $295,000 $295,000
SAGINAW, MI 3 $295,000 $98,333
HUNTINGTON-ASHLAND, WV-KY-OH 2 $290,000 $145,000
LINCOLN, NE 2 $270,000 $135,000
CHEYENNE, WY 1 $265,000 $265,000
TUSCALOOSA, AL 2 $260,000 $130,000
VICTORIA, TX 1 $255,000 $255,000
LAFAYETTE, LA 2 $250,000 $125,000
HATTIESBURG, MS 1 $235,000 $235,000
CASPER, WY 1 $235,000 $235,000
SPRINGFIELD, OH 2 $230,000 $115,000
KINGSPORT-BRISTOL, TN-VA 3 $225,000 $75,000
BOWLING GREEN, KY 1 $225,000 $225,000
HINESVILLE, GA 1 $205,000 $205,000
GRAND JUNCTION, CO 1 $205,000 $205,000
WATERLOO-CEDAR FALLS, IA 2 $200,000 $100,000
GLENS FALLS, NY 1 $195,000 $195,000
DUBUQUE, IA 2 $190,000 $95,000
ELKHART-GOSHEN, IN 1 $185,000 $185,000
JACKSON, MS 1 $185,000 $185,000
MONROE, MI 1 $185,000 $185,000
ODESSA, TX 1 $185,000 $185,000
BRUNSWICK, GA 1 $185,000 $185,000
JOHNSON CITY, TN 1 $175,000 $175,000
KANKAKEE, IL 1 $175,000 $175,000
GREAT FALLS, MT 1 $175,000 $175,000
BAY CITY, MI 2 $170,000 $85,000
COLUMBUS, GA-AL 1 $165,000 $165,000
CLEVELAND, TN 1 $165,000 $165,000
LYNCHBURG, VA 1 $155,000 $155,000
WILLIAMSPORT, PA 1 $155,000 $155,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $145,000 $145,000
CEDAR RAPIDS, IA 1 $145,000 $145,000
CHARLESTON, WV 1 $145,000 $145,000
SYRACUSE, NY 1 $145,000 $145,000
MACON-BIBB COUNTY, GA 1 $145,000 $145,000
BLOOMINGTON, IN 1 $145,000 $145,000
ROCKY MOUNT, NC 2 $140,000 $70,000
ALBANY-SCHENECTADY-TROY, NY 1 $135,000 $135,000
KOKOMO, IN 2 $120,000 $60,000
BINGHAMTON, NY 1 $105,000 $105,000
SEBRING-AVON PARK, FL 1 $105,000 $105,000
LAFAYETTE-WEST LAFAYETTE, IN 1 $95,000 $95,000
JOHNSTOWN, PA 1 $75,000 $75,000
TEXARKANA, TX-AR 1 $65,000 $65,000

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% 1,486 $13,060,000 $8,789
2.5-3% 659 $165,825,000 $251,631
3-4% 20,955 $7,355,945,000 $351,035
4-5% 21,484 $6,581,080,000 $306,325
5-6% 4,964 $1,186,550,000 $239,031
6-7% 204 $46,150,000 $226,225
7-8% 164 $4,130,000 $25,183
Over 8% 23 $3,905,000 $169,783

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 4,000 $149,940,000 $37,485
$100k-200k 10,218 $1,587,840,000 $155,396
$200k-400k 23,010 $6,739,810,000 $292,908
$400k-600k 9,723 $4,604,065,000 $473,523
$600k-1000k 2,680 $1,878,790,000 $701,041
$Over $1MM 308 $396,200,000 $1,286,364

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% 1,544 $385,660,000 $249,780
40-60% 4,600 $1,504,540,000 $327,074
60-80% 15,289 $5,399,705,000 $353,176
80-100% 25,180 $7,728,850,000 $306,944
Over 100% 824 $288,160,000 $349,709
Under 20% 2,502 $49,730,000 $19,876

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 12,050 $4,276,600,000 $354,905
$150k-250k 7,511 $3,280,645,000 $436,779
$50k-75k 11,281 $2,399,925,000 $212,740
$50k-or less 6,048 $874,900,000 $144,659
$75k-100k 9,468 $2,664,240,000 $281,394
$Over $250k 2,739 $1,552,195,000 $566,701

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 35,613 $10,472,585,000 $294,066
Not provided 8,219 $2,869,775,000 $349,164
Asian 3,206 $1,189,530,000 $371,032
Black 2,047 $547,695,000 $267,560
American Indian 292 $79,210,000 $271,267
Asian Indian 144 $54,720,000 $380,000
Native Hawaiian 141 $47,385,000 $336,064
Filipino 74 $27,060,000 $365,676
Other Asian 60 $19,140,000 $319,000
Chinese 45 $17,695,000 $393,222
Vietnamese 32 $10,460,000 $326,875
Other Pacific Islander 25 $6,875,000 $275,000
Japanese 15 $5,285,000 $352,333
Korean 11 $4,415,000 $401,364
Native Hawiian 9 $2,455,000 $272,778
Guamanian 3 $1,255,000 $418,333
Samoan 3 $1,105,000 $368,333

Approval Rates

Total approvals of all applications
93.06%

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
78.26%

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 49,939 $15,356,645,000 $307,508

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 11,650 $3,082,500,000 $264,592
$1k-2k 19,302 $6,238,930,000 $323,227
$2k-3k 6,712 $1,813,110,000 $270,130
$3k-4k 6,785 $2,133,015,000 $314,372
$5k+ 4,706 $2,037,510,000 $432,960

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 878 $160,490,000 $182,790
Single Family (1-4 Units):Site-Built 49,061 $15,196,155,000 $309,740