Finance Of America Mortgage Llc

Horsham, PA 19044

LEI: 549300MXJA09WZJ0DV55

Tax ID: 23-2769131

2019 Data | 2018 Data


Overview

Finance Of America Mortgage Llc is a large mortgage company specializing in Home Purchase 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 Seattle 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 low fee medium-low fee lendor.


Originations

40,859

Origination Dollar Volume (All Markets)

$11,577,275,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 28,381 $8,253,445,000 $290,809
FHA 9,348 $2,374,750,000 $254,038
VA 2,613 $860,545,000 $329,332
USDA 517 $88,535,000 $171,248

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 31,776 $8,794,200,000 $276,756
Home Improvement 36 $8,730,000 $242,500
Other 471 $122,155,000 $259,352
Refi 2,718 $873,410,000 $321,343
Cash Out Refi 5,858 $1,778,780,000 $303,650

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 2,570 $1,110,550,000 $432,121
SACRAMENTO-ROSEVILLE-FOLSOM, CA 2,670 $830,550,000 $311,067
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 2,561 $796,715,000 $311,095
Outside of Metro Areas 2,807 $567,965,000 $202,339
PHOENIX-MESA-CHANDLER, AZ 2,040 $484,860,000 $237,676
SEATTLE-BELLEVUE-KENT, WA 1,115 $458,185,000 $410,928
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,571 $452,945,000 $288,316
ANAHEIM-SANTA ANA-IRVINE, CA 864 $423,590,000 $490,266
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 935 $411,635,000 $440,251
OAKLAND-BERKELEY-LIVERMORE, CA 871 $399,545,000 $458,720
LAS VEGAS-HENDERSON-PARADISE, NV 890 $209,460,000 $235,348
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 532 $184,550,000 $346,898
EUGENE-SPRINGFIELD, OR 742 $181,660,000 $244,825
STOCKTON, CA 627 $164,225,000 $261,922
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 283 $152,735,000 $539,700
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 541 $147,805,000 $273,207
Outside of Metro Areas 441 $146,635,000 $332,506
DALLAS-PLANO-IRVING, TX 458 $135,700,000 $296,288
SANTA ROSA-PETALUMA, CA 310 $129,940,000 $419,161
TACOMA-LAKEWOOD, WA 471 $126,835,000 $269,289
NEWARK, NJ-PA 402 $124,260,000 $309,104
OXNARD-THOUSAND OAKS-VENTURA, CA 267 $120,165,000 $450,056
PHILADELPHIA, PA 543 $117,035,000 $215,534
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 452 $107,950,000 $238,827
SALINAS, CA 284 $105,730,000 $372,289
DENVER-AURORA-LAKEWOOD, CO 328 $104,150,000 $317,530
VALLEJO, CA 299 $103,825,000 $347,241
Outside of Metro Areas 386 $86,040,000 $222,902
CAMDEN, NJ 474 $84,680,000 $178,650
RENO, NV 290 $82,560,000 $284,690
TRENTON-PRINCETON, NJ 357 $79,225,000 $221,919
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 115 $79,075,000 $687,609
ALBUQUERQUE, NM 448 $76,540,000 $170,848
BOISE CITY, ID 343 $75,285,000 $219,490
GRAND RAPIDS-KENTWOOD, MI 415 $69,625,000 $167,771
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 320 $68,390,000 $213,719
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 387 $61,265,000 $158,307
CHARLOTTE-CONCORD-GASTONIA, NC-SC 244 $54,680,000 $224,098
MODESTO, CA 225 $53,415,000 $237,400
FORT WORTH-ARLINGTON-GRAPEVINE, TX 182 $50,820,000 $279,231
SANTA CRUZ-WATSONVILLE, CA 107 $50,375,000 $470,794
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 204 $49,980,000 $245,000
SANTA MARIA-SANTA BARBARA, CA 100 $47,890,000 $478,900
FRESNO, CA 188 $47,560,000 $252,979
VINELAND-BRIDGETON, NJ 308 $47,510,000 $154,253
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 135 $46,725,000 $346,111
YUBA CITY, CA 212 $45,960,000 $216,792
BEND, OR 145 $43,625,000 $300,862
BAKERSFIELD, CA 193 $42,685,000 $221,166
INDIANAPOLIS-CARMEL-ANDERSON, IN 260 $42,460,000 $163,308
KENNEWICK-RICHLAND, WA 199 $42,035,000 $211,231
KANSAS CITY, MO-KS 205 $40,445,000 $197,293
VISALIA, CA 136 $39,760,000 $292,353
SAN RAFAEL, CA 59 $39,635,000 $671,780
SALEM, OR 162 $38,150,000 $235,494
SCRANTON--WILKES-BARRE, PA 284 $36,990,000 $130,246
PITTSBURGH, PA 200 $34,230,000 $171,150
SAN LUIS OBISPO-PASO ROBLES, CA 78 $33,480,000 $429,231
BOSTON, MA 103 $32,625,000 $316,748
CAPE CORAL-FORT MYERS, FL 176 $32,450,000 $184,375
SALT LAKE CITY, UT 120 $32,000,000 $266,667
TAMPA-ST. PETERSBURG-CLEARWATER, FL 145 $31,835,000 $219,552
CHICO, CA 141 $31,505,000 $223,440
URBAN HONOLULU, HI 63 $31,475,000 $499,603
PALM BAY-MELBOURNE-TITUSVILLE, FL 153 $31,235,000 $204,150
FLORENCE, SC 196 $29,780,000 $151,939
APPLETON, WI 226 $28,990,000 $128,274
ORLANDO-KISSIMMEE-SANFORD, FL 136 $28,480,000 $209,412
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 94 $28,180,000 $299,787
PUNTA GORDA, FL 163 $27,505,000 $168,742
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 71 $25,845,000 $364,014
LONGVIEW, WA 116 $22,470,000 $193,707
WINCHESTER, VA-WV 107 $22,365,000 $209,019
CHARLOTTESVILLE, VA 104 $22,330,000 $214,712
Outside of Metro Areas 63 $21,895,000 $347,540
BALTIMORE-COLUMBIA-TOWSON, MD 89 $21,735,000 $244,213
OSHKOSH-NEENAH, WI 178 $20,590,000 $115,674
AUSTIN-ROUND ROCK-GEORGETOWN, TX 76 $19,660,000 $258,684
KAHULUI-WAILUKU-LAHAINA, HI 41 $19,545,000 $476,707
LAKE COUNTY-KENOSHA COUNTY, IL-WI 97 $19,525,000 $201,289
CINCINNATI, OH-KY-IN 109 $18,435,000 $169,128
GREEN BAY, WI 134 $18,240,000 $136,119
PROVIDENCE-WARWICK, RI-MA 68 $17,720,000 $260,588
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 76 $17,590,000 $231,447
COLORADO SPRINGS, CO 68 $17,420,000 $256,176
PROVO-OREM, UT 58 $16,530,000 $285,000
SAN ANTONIO-NEW BRAUNFELS, TX 71 $16,415,000 $231,197
JACKSONVILLE, FL 89 $16,265,000 $182,753
DES MOINES-WEST DES MOINES, IA 97 $16,245,000 $167,474
READING, PA 86 $15,440,000 $179,535
ALBANY-LEBANON, OR 70 $14,780,000 $211,143
MADERA, CA 51 $14,695,000 $288,137
WENATCHEE, WA 51 $14,605,000 $286,373
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 53 $14,495,000 $273,491
Outside of Metro Areas 67 $14,265,000 $212,910
SPOKANE-SPOKANE VALLEY, WA 58 $13,570,000 $233,966
COLUMBIA, SC 72 $13,510,000 $187,639
NASSAU COUNTY-SUFFOLK COUNTY, NY 34 $13,390,000 $393,824
BRIDGEPORT-STAMFORD-NORWALK, CT 40 $13,300,000 $332,500
CHARLESTON-NORTH CHARLESTON, SC 62 $13,150,000 $212,097
TYLER, TX 76 $13,020,000 $171,316
GREENVILLE-ANDERSON, SC 72 $12,870,000 $178,750
OLYMPIA-LACEY-TUMWATER, WA 59 $12,865,000 $218,051
SPARTANBURG, SC 77 $12,715,000 $165,130
ATLANTIC CITY-HAMMONTON, NJ 67 $12,495,000 $186,493
NAPA, CA 24 $12,470,000 $519,583
BREMERTON-SILVERDALE-PORT ORCHARD, WA 40 $12,440,000 $311,000
MERCED, CA 53 $12,405,000 $234,057
LAKE HAVASU CITY-KINGMAN, AZ 82 $12,350,000 $150,610
WILMINGTON, DE-MD-NJ 55 $12,315,000 $223,909
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 79 $12,215,000 $154,620
ST. LOUIS, MO-IL 70 $12,120,000 $173,143
TUCSON, AZ 61 $12,075,000 $197,951
LANCASTER, PA 70 $11,930,000 $170,429
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 48 $11,910,000 $248,125
LA CROSSE-ONALASKA, WI-MN 77 $11,435,000 $148,506
BROWNSVILLE-HARLINGEN, TX 100 $11,350,000 $113,500
EAST STROUDSBURG, PA 79 $11,215,000 $141,962
ELGIN, IL 56 $11,140,000 $198,929
NEW HAVEN-MILFORD, CT 48 $11,020,000 $229,583
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 60 $10,590,000 $176,500
LEWISTON, ID-WA 56 $10,260,000 $183,214
WORCESTER, MA-CT 42 $10,250,000 $244,048
OCEAN CITY, NJ 31 $10,135,000 $326,935
OGDEN-CLEARFIELD, UT 42 $10,020,000 $238,571
GREELEY, CO 39 $9,625,000 $246,795
YORK-HANOVER, PA 44 $9,450,000 $214,773
RALEIGH-CARY, NC 36 $9,310,000 $258,611
HILTON HEAD ISLAND-BLUFFTON, SC 48 $9,250,000 $192,708
ASHEVILLE, NC 43 $8,645,000 $201,047
NORTH PORT-SARASOTA-BRADENTON, FL 42 $8,540,000 $203,333
MIAMI-MIAMI BEACH-KENDALL, FL 34 $8,500,000 $250,000
RICHMOND, VA 40 $8,230,000 $205,750
LOGAN, UT-ID 29 $8,015,000 $276,379
OMAHA-COUNCIL BLUFFS, NE-IA 42 $7,570,000 $180,238
NAPLES-MARCO ISLAND, FL 27 $7,505,000 $277,963
EAU CLAIRE, WI 46 $7,330,000 $159,348
HAGERSTOWN-MARTINSBURG, MD-WV 37 $7,305,000 $197,432
WARREN-TROY-FARMINGTON HILLS, MI 31 $7,005,000 $225,968
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 30 $6,970,000 $232,333
REDDING, CA 32 $6,320,000 $197,500
BIRMINGHAM-HOOVER, AL 30 $6,000,000 $200,000
FLAGSTAFF, AZ 24 $5,890,000 $245,417
YAKIMA, WA 41 $5,765,000 $140,610
PUEBLO, CO 34 $5,750,000 $169,118
SPRINGFIELD, MA 30 $5,740,000 $191,333
CAPE GIRARDEAU, MO-IL 47 $5,645,000 $120,106
MOUNT VERNON-ANACORTES, WA 18 $5,640,000 $313,333
SANTA FE, NM 19 $5,415,000 $285,000
BELLINGHAM, WA 18 $5,300,000 $294,444
YUMA, AZ 30 $5,130,000 $171,000
OKLAHOMA CITY, OK 21 $4,725,000 $225,000
MEDFORD, OR 15 $4,225,000 $281,667
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 17 $4,205,000 $247,353
CORVALLIS, OR 18 $4,190,000 $232,778
TALLAHASSEE, FL 29 $4,165,000 $143,621
HARRISBURG-CARLISLE, PA 27 $4,115,000 $152,407
MILWAUKEE-WAUKESHA, WI 19 $4,035,000 $212,368
COEUR D'ALENE, ID 17 $3,975,000 $233,824
STATE COLLEGE, PA 16 $3,890,000 $243,125
FORT COLLINS, CO 9 $3,785,000 $420,556
ROCHESTER, NY 27 $3,675,000 $136,111
MANCHESTER-NASHUA, NH 12 $3,630,000 $302,500
DETROIT-DEARBORN-LIVONIA, MI 16 $3,590,000 $224,375
PEORIA, IL 37 $3,585,000 $96,892
CLEVELAND-ELYRIA, OH 19 $3,295,000 $173,421
PORT ST. LUCIE, FL 14 $3,270,000 $233,571
FLINT, MI 15 $3,155,000 $210,333
HANFORD-CORCORAN, CA 11 $3,125,000 $284,091
KALAMAZOO-PORTAGE, MI 19 $3,095,000 $162,895
BOULDER, CO 8 $3,010,000 $376,250
DULUTH, MN-WI 18 $3,010,000 $167,222
LEBANON, PA 17 $2,815,000 $165,588
ST. GEORGE, UT 11 $2,765,000 $251,364
GARY, IN 12 $2,500,000 $208,333
BARNSTABLE TOWN, MA 8 $2,480,000 $310,000
NEW ORLEANS-METAIRIE, LA 14 $2,470,000 $176,429
GREENVILLE, NC 17 $2,395,000 $140,882
PORTLAND-SOUTH PORTLAND, ME 10 $2,360,000 $236,000
CHATTANOOGA, TN-GA 11 $2,295,000 $208,636
CARSON CITY, NV 10 $2,200,000 $220,000
FORT WAYNE, IN 11 $2,145,000 $195,000
CHAMPAIGN-URBANA, IL 16 $2,140,000 $133,750
GREENSBORO-HIGH POINT, NC 10 $2,130,000 $213,000
LAKELAND-WINTER HAVEN, FL 15 $2,125,000 $141,667
COLUMBUS, OH 13 $2,085,000 $160,385
LOUISVILLE/JEFFERSON COUNTY, KY-IN 15 $2,005,000 $133,667
ANN ARBOR, MI 5 $2,005,000 $401,000
SALISBURY, MD-DE 9 $1,975,000 $219,444
WICHITA, KS 12 $1,910,000 $159,167
MEMPHIS, TN-MS-AR 9 $1,865,000 $207,222
TULSA, OK 7 $1,815,000 $259,286
MADISON, WI 9 $1,785,000 $198,333
HUNTSVILLE, AL 12 $1,730,000 $144,167
KNOXVILLE, TN 8 $1,700,000 $212,500
DURHAM-CHAPEL HILL, NC 7 $1,645,000 $235,000
WACO, TX 7 $1,625,000 $232,143
LAWRENCE, KS 6 $1,620,000 $270,000
EL CENTRO, CA 9 $1,605,000 $178,333
NORWICH-NEW LONDON, CT 8 $1,600,000 $200,000
ROCHESTER, MN 9 $1,575,000 $175,000
PENSACOLA-FERRY PASS-BRENT, FL 7 $1,545,000 $220,714
WILMINGTON, NC 7 $1,485,000 $212,143
Outside of Metro Areas 7 $1,465,000 $209,286
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 5 $1,445,000 $289,000
LONGVIEW, TX 9 $1,415,000 $157,222
FOND DU LAC, WI 13 $1,405,000 $108,077
SAVANNAH, GA 7 $1,395,000 $199,286
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 7 $1,385,000 $197,857
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 4 $1,360,000 $340,000
LAFAYETTE-WEST LAFAYETTE, IN 4 $1,300,000 $325,000
ATHENS-CLARKE COUNTY, GA 8 $1,280,000 $160,000
GRANTS PASS, OR 6 $1,270,000 $211,667
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 7 $1,255,000 $179,286
EL PASO, TX 10 $1,250,000 $125,000
BATON ROUGE, LA 8 $1,240,000 $155,000
LANSING-EAST LANSING, MI 9 $1,225,000 $136,111
TWIN FALLS, ID 8 $1,200,000 $150,000
MUSKEGON, MI 10 $1,160,000 $116,000
CALIFORNIA-LEXINGTON PARK, MD 4 $1,150,000 $287,500
BURLINGTON-SOUTH BURLINGTON, VT 3 $1,105,000 $368,333
LEXINGTON-FAYETTE, KY 8 $1,090,000 $136,250
AUGUSTA-RICHMOND COUNTY, GA-SC 4 $1,080,000 $270,000
ROCKFORD, IL 7 $1,035,000 $147,857
COLLEGE STATION-BRYAN, TX 6 $1,020,000 $170,000
HOMOSASSA SPRINGS, FL 7 $965,000 $137,857
WINSTON-SALEM, NC 6 $950,000 $158,333
CHEYENNE, WY 3 $925,000 $308,333
CORPUS CHRISTI, TX 4 $890,000 $222,500
DOVER, DE 4 $830,000 $207,500
STAUNTON, VA 5 $825,000 $165,000
MCALLEN-EDINBURG-MISSION, TX 5 $805,000 $161,000
ODESSA, TX 4 $770,000 $192,500
Outside of Metro Areas 3 $765,000 $255,000
BLOOMSBURG-BERWICK, PA 5 $765,000 $153,000
SIERRA VISTA-DOUGLAS, AZ 4 $760,000 $190,000
MACON-BIBB COUNTY, GA 2 $750,000 $375,000
RACINE, WI 3 $745,000 $248,333
ABILENE, TX 4 $730,000 $182,500
IOWA CITY, IA 2 $720,000 $360,000
IDAHO FALLS, ID 6 $710,000 $118,333
LUBBOCK, TX 3 $695,000 $231,667
AMARILLO, TX 4 $690,000 $172,500
WALLA WALLA, WA 5 $685,000 $137,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 4 $680,000 $170,000
MORRISTOWN, TN 4 $670,000 $167,500
TOLEDO, OH 4 $660,000 $165,000
MIDLAND, MI 9 $655,000 $72,778
GETTYSBURG, PA 2 $650,000 $325,000
ANNISTON-OXFORD, AL 3 $645,000 $215,000
AUBURN-OPELIKA, AL 2 $640,000 $320,000
NILES, MI 4 $630,000 $157,500
ALBANY-SCHENECTADY-TROY, NY 3 $615,000 $205,000
GRAND JUNCTION, CO 2 $580,000 $290,000
SUMTER, SC 4 $580,000 $145,000
GAINESVILLE, GA 2 $570,000 $285,000
POCATELLO, ID 3 $565,000 $188,333
GULFPORT-BILOXI, MS 3 $565,000 $188,333
SHREVEPORT-BOSSIER CITY, LA 3 $555,000 $185,000
HUNTINGTON-ASHLAND, WV-KY-OH 4 $550,000 $137,500
BUFFALO-CHEEKTOWAGA, NY 3 $545,000 $181,667
KANKAKEE, IL 2 $520,000 $260,000
OCALA, FL 5 $515,000 $103,000
DAPHNE-FAIRHOPE-FOLEY, AL 2 $490,000 $245,000
BLOOMINGTON, IN 3 $485,000 $161,667
KILLEEN-TEMPLE, TX 4 $480,000 $120,000
ALBANY, GA 2 $480,000 $240,000
MONTGOMERY, AL 3 $475,000 $158,333
ST. CLOUD, MN 2 $430,000 $215,000
JOHNSON CITY, TN 1 $415,000 $415,000
AKRON, OH 2 $400,000 $200,000
HOUMA-THIBODAUX, LA 1 $395,000 $395,000
SAGINAW, MI 2 $390,000 $195,000
TOPEKA, KS 5 $375,000 $75,000
HAMMOND, LA 2 $370,000 $185,000
UTICA-ROME, NY 2 $350,000 $175,000
DECATUR, AL 2 $350,000 $175,000
BLOOMINGTON, IL 3 $345,000 $115,000
BILLINGS, MT 2 $340,000 $170,000
LAREDO, TX 2 $340,000 $170,000
ST. JOSEPH, MO-KS 3 $335,000 $111,667
BRUNSWICK, GA 1 $335,000 $335,000
LYNCHBURG, VA 2 $330,000 $165,000
FAYETTEVILLE, NC 2 $330,000 $165,000
HOT SPRINGS, AR 1 $325,000 $325,000
JACKSON, MS 1 $325,000 $325,000
SAN ANGELO, TX 1 $325,000 $325,000
ELKHART-GOSHEN, IN 1 $315,000 $315,000
ROANOKE, VA 1 $315,000 $315,000
SOUTH BEND-MISHAWAKA, IN-MI 3 $315,000 $105,000
BLACKSBURG-CHRISTIANSBURG, VA 2 $310,000 $155,000
COLUMBUS, IN 2 $310,000 $155,000
SHERMAN-DENISON, TX 1 $305,000 $305,000
SEBRING-AVON PARK, FL 2 $300,000 $150,000
PANAMA CITY, FL 1 $295,000 $295,000
HICKORY-LENOIR-MORGANTON, NC 2 $290,000 $145,000
CLARKSVILLE, TN-KY 2 $290,000 $145,000
SIOUX CITY, IA-NE-SD 2 $290,000 $145,000
PITTSFIELD, MA 1 $285,000 $285,000
SHEBOYGAN, WI 1 $285,000 $285,000
RAPID CITY, SD 1 $285,000 $285,000
ROCKY MOUNT, NC 3 $285,000 $95,000
JANESVILLE-BELOIT, WI 2 $270,000 $135,000
FARMINGTON, NM 1 $265,000 $265,000
COLUMBUS, GA-AL 2 $260,000 $130,000
SPRINGFIELD, MO 2 $260,000 $130,000
MOBILE, AL 2 $260,000 $130,000
AMES, IA 1 $255,000 $255,000
BURLINGTON, NC 2 $250,000 $125,000
GREAT FALLS, MT 1 $245,000 $245,000
VALDOSTA, GA 1 $245,000 $245,000
MIDLAND, TX 1 $245,000 $245,000
FARGO, ND-MN 1 $235,000 $235,000
BATTLE CREEK, MI 3 $235,000 $78,333
MANHATTAN, KS 1 $235,000 $235,000
LAKE CHARLES, LA 1 $225,000 $225,000
JACKSONVILLE, NC 1 $215,000 $215,000
JACKSON, MI 1 $195,000 $195,000
WATERTOWN-FORT DRUM, NY 1 $195,000 $195,000
LINCOLN, NE 1 $175,000 $175,000
LAS CRUCES, NM 2 $170,000 $85,000
ALTOONA, PA 1 $165,000 $165,000
MANSFIELD, OH 1 $165,000 $165,000
CLEVELAND, TN 1 $165,000 $165,000
BOWLING GREEN, KY 2 $160,000 $80,000
TUSCALOOSA, AL 1 $155,000 $155,000
WICHITA FALLS, TX 2 $150,000 $75,000
CHAMBERSBURG-WAYNESBORO, PA 1 $145,000 $145,000
CANTON-MASSILLON, OH 1 $135,000 $135,000
MUNCIE, IN 1 $135,000 $135,000
FORT SMITH, AR-OK 1 $135,000 $135,000
JONESBORO, AR 1 $135,000 $135,000
DALTON, GA 1 $135,000 $135,000
CARBONDALE-MARION, IL 2 $130,000 $65,000
VICTORIA, TX 1 $125,000 $125,000
ERIE, PA 1 $125,000 $125,000
LIMA, OH 1 $115,000 $115,000
SYRACUSE, NY 1 $115,000 $115,000
BINGHAMTON, NY 1 $115,000 $115,000
GOLDSBORO, NC 1 $105,000 $105,000
OWENSBORO, KY 1 $105,000 $105,000
SEBASTIAN-VERO BEACH, FL 1 $105,000 $105,000
BAY CITY, MI 1 $95,000 $95,000
WARNER ROBINS, GA 1 $95,000 $95,000
THE VILLAGES, FL 1 $75,000 $75,000
LAFAYETTE, LA 1 $75,000 $75,000
DECATUR, IL 1 $65,000 $65,000
MICHIGAN CITY-LA PORTE, IN 1 $55,000 $55,000

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% 347 $3,555,000 $10,245
2.5-3% 8 $2,420,000 $302,500
3-4% 2,013 $653,915,000 $324,846
4-5% 25,506 $7,890,920,000 $309,375
5-6% 11,229 $2,958,015,000 $263,426
6-7% 228 $54,260,000 $237,982
7-8% 269 $2,355,000 $8,755

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,954 $158,460,000 $40,076
$100k-200k 9,840 $1,517,200,000 $154,187
$200k-400k 18,595 $5,365,415,000 $288,541
$400k-600k 6,535 $3,050,295,000 $466,763
$600k-1000k 1,710 $1,194,310,000 $698,427
$Over $1MM 225 $291,595,000 $1,295,978

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% 1,078 $244,890,000 $227,171
40-60% 3,244 $983,700,000 $303,237
60-80% 11,280 $3,702,680,000 $328,252
80-100% 22,085 $6,330,835,000 $286,658
Over 100% 895 $274,855,000 $307,101
Under 20% 2,247 $37,995,000 $16,909

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 9,144 $3,103,750,000 $339,430
$150k-250k 5,479 $2,327,085,000 $424,728
$50k-75k 10,053 $2,078,435,000 $206,748
$50k-or less 6,022 $824,150,000 $136,857
$75k-100k 8,262 $2,229,320,000 $269,828
$Over $250k 1,822 $991,960,000 $544,435

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 30,219 $8,204,675,000 $271,507
Not provided 5,615 $1,873,855,000 $333,723
Asian 2,373 $810,815,000 $341,684
Black 2,042 $504,240,000 $246,934
American Indian 240 $63,390,000 $264,125
Native Hawaiian 149 $48,605,000 $326,208
Filipino 56 $19,030,000 $339,821
Asian Indian 57 $17,905,000 $314,123
Other Asian 37 $12,595,000 $340,405
Chinese 19 $7,445,000 $391,842
Other Pacific Islander 11 $3,875,000 $352,273
Not applicable 14 $3,700,000 $264,286
Vietnamese 10 $2,510,000 $251,000
Japanese 11 $2,415,000 $219,545
Korean 5 $1,905,000 $381,000
Native Hawiian 1 $315,000 $315,000

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 40,859 $11,577,275,000 $283,347

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 12,842 $3,121,720,000 $243,087
$1k-2k 13,811 $4,171,805,000 $302,064
$2k-3k 4,871 $1,344,285,000 $275,977
$3k-4k 4,610 $1,429,210,000 $310,024
$5k+ 3,466 $1,498,420,000 $432,320

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 725 $121,065,000 $166,986
Single Family (1-4 Units):Site-Built 40,134 $11,456,210,000 $285,449