Banc One Mortgage Corporation Rates, Fees & Info

ORANGE, CA

LEI: 549300OLJQ30ZT21BC55

Tax ID: 47-0996983

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Banc One Mortgage Corporation is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Banc One Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Banc One Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors.


Originations

733

Origination Dollar Volume (All Markets)

$303,985,000

Relative Rate

Banc One Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.04%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.11%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 733 $303,985,000 $414,714 $0 3.00%

Banc One Mortgage Corporation's top markets include

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 595 $247,275,000 $415,588 $0 3.03%
FHA 131 $53,775,000 $410,496 $0 2.86%
VA 7 $2,935,000 $419,286 $0 2.82%

For the 2021 period, Banc One Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 595 originations. Their 2nd most popular type is FHA, with 131 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 292 $114,810,000 $393,185 $0 2.90%
Home Purchase 245 $114,665,000 $468,020 $0 3.02%
Cash Out Refi 196 $74,510,000 $380,153 $0 3.11%

For the 2021, Banc One Mortgage Corporation's most frequently cited loan purpose of loans were Refi, with 292 originations. The 2nd most popular reason of loans were Home Purchase, with 245 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 667 $283,765,000 $425,435 $0 3.04%
15 Year 40 $11,570,000 $289,250 $0 2.48%
20 Year 16 $4,760,000 $297,500 $0 2.79%
Other 7 $2,835,000 $405,000 $0 2.95%
10 Year 3 $1,055,000 $351,667 $0 2.00%

For the 2021, Banc One Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 667 originations. The 2nd most popular length of loans were 15 Year, with 40 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 729 $301,405,000 $413,450
$5k+ 4 $2,580,000 $645,000

$0 of loans were Banc One Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 729 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 351 $146,415,000 $417,137
3-4% 297 $128,025,000 $431,061
<2.5% 82 $28,550,000 $348,171
4-5% 3 $995,000 $331,667

During 2021, Banc One Mortgage Corporation's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 351 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 329 $102,615,000 $311,900 $0 2.98%
$400k-600k 278 $135,050,000 $485,791 $0 3.01%
$600k-1MM 79 $54,515,000 $690,063 $0 3.07%
$100k-200k 41 $7,055,000 $172,073 $0 3.01%
$100,000 or less 3 $35,000 $11,667 $0 0.67%
$1MM+ 3 $4,715,000 $1,571,667 $0 3.21%

2021 saw Banc One Mortgage Corporation place emphasis on $200k-400k loans with 329 originations, totaling $102,615,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 716 $297,130,000 $414,986 $0 3.00%
$50k or less 17 $6,855,000 $403,235 $0 2.81%

Banc One Mortgage Corporation lent most frequently to those with incomes in the $250k+ range, with 716 originations. The second most popular income band? $50k or less, with 17 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 94 $36,570,000 $389,043 $0 3.06%
20-30% 82 $32,130,000 $391,829 $0 2.92%
44% 56 $22,730,000 $405,893 $0 3.04%
50-60% 50 $20,930,000 $418,600 $0 2.80%
49% 45 $19,065,000 $423,667 $0 3.05%
48% 41 $17,485,000 $426,463 $0 3.03%
42% 40 $16,370,000 $409,250 $0 3.05%
<20% 40 $16,600,000 $415,000 $0 2.75%
40% 36 $13,590,000 $377,500 $0 2.95%
45% 36 $14,950,000 $415,278 $0 3.15%
43% 35 $16,445,000 $469,857 $0 3.04%
39% 33 $15,295,000 $463,485 $0 2.98%
47% 29 $13,135,000 $452,931 $0 3.07%
46% 27 $10,955,000 $405,741 $0 3.04%
41% 24 $10,490,000 $437,083 $0 3.03%
38% 24 $9,990,000 $416,250 $0 3.11%
37% 23 $9,935,000 $431,957 $0 3.09%
36% 18 $7,320,000 $406,667 $0 2.85%

Banc One Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 94 originations. The next most common DTI ratio? 20-30%, with 82 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 521 $216,035,000 $414,655 $0 2.99%
Not provided 149 $62,515,000 $419,564 $0 3.10%
Asian 37 $16,595,000 $448,514 $0 2.84%
Black 24 $8,070,000 $336,250 $0 2.69%
Native Hawaiian 2 $770,000 $385,000 $0 2.88%

Approval Rates

Total approvals of all applications
97.42%

Banc One Mortgage Corporation 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
96.66%

Banc One Mortgage Corporation has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
0.0 68 $25,070,000 $368,676
1070.0 1 $375,000 $375,000
1080.0 2 $990,000 $495,000
1095.0 1 $185,000 $185,000
1310.0 1 $795,000 $795,000
1955.0 1 $495,000 $495,000
1995.0 479 $200,215,000 $417,985
2490.0 49 $20,295,000 $414,184
2845.0 1 $825,000 $825,000
395.0 2 $820,000 $410,000
795.0 11 $4,485,000 $407,727
895.0 3 $1,235,000 $411,667
90.0 1 $805,000 $805,000
995.0 113 $47,395,000 $419,425

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
733 $303,985,000 $414,714

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 43 $12,655,000 $294,302 $0 2.91%
40-60% 142 $49,420,000 $348,028 $0 2.93%
60-80% 321 $139,905,000 $435,841 $0 3.05%
80-100% 223 $101,595,000 $455,583 $0 3.01%
Over 100% 1 $375,000 $375,000 $0 3.00%
Under 20% 3 $35,000 $11,667 $0 0.67%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANC ONE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%