Resource Bank Mortgage Rates, Fees & Info
Covington, LALEI: 549300OMHGOGEWTCI138
Tax ID: 72-1410047
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Resource Bank is a smaller bank specializing in Home Purchase and Refi loans. Resource Bank has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Baton Rouge, Crestview, Hammond, and Daphne among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Resource Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
235Origination Dollar Volume (All Markets)
$81,475,000Top 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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 178 | $62,760,000 | $352,584 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 23 | $6,655,000 | $289,348 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $4,255,000 | $4,255,000 | $0 | 0.00% |
| HAMMOND, LA (FHA|USDA|VA) | 12 | $2,340,000 | $195,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $1,710,000 | $855,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $895,000 | $895,000 | $0 | 0.00% |
| Bogalusa, LA (FHA|USDA|VA) | 9 | $545,000 | $60,556 | $0 | 0.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| Picayune, MS (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 235 | $81,475,000 | $346,702 | $0 | 0.00% |
For 2022, Resource Bank's most frequently originated type of loan was Conventional, with 235 originations.
Loan Reason
For 2022, Resource Bank's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 87 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 235 | $81,475,000 | $346,702 | $0 | 0.00% |
For 2022, Resource Bank's most frequently cited loan duration was Other, with 235 originations.
Loan Sizing
2022 saw Resource Bank place emphasis on $200k-400k loans with 67 originations, totaling $18,205,000 in origination value.
Applicant Income
Resource Bank lent most frequently to those with incomes in the $250k+ range, with 29 originations. The second most popular income band? $150k-250k, with 28 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 235 | $81,475,000 | $346,702 | $0 | 0.00% |
Resource Bank lent most frequently to those with DTI ratios of Exempt%, with 235 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.67%
Resource 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 origination92.77%
Resource Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 235 | $81,475,000 | $346,702 |