Security State Bank Of Marine Mortgage Rates, Fees & Info
Marine on St Croix, MNLEI: 549300OQMIO8XPU2KT43
Tax ID: 41-0531810
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Mortgage Data
Review & Overview
Security State Bank Of Marine is a smaller bank specializing in Home Purchase loans. Security State Bank Of Marine has a high proportion of conventional loans. Their top (well, only) market is Minneapolis.Security State Bank Of Marine 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
54Origination Dollar Volume (All Markets)
$12,550,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 49 | $11,665,000 | $238,061 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $885,000 | $177,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $12,550,000 | $232,407 | $0 | 0.00% |
For 2018, Security State Bank Of Marine's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 43 | $10,145,000 | $235,930 | $0 | 0.00% |
| Refi | 8 | $2,230,000 | $278,750 | $0 | 0.00% |
| Home Improvement | 3 | $175,000 | $58,333 | $0 | 0.00% |
For 2018, Security State Bank Of Marine's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 54 | $12,550,000 | $232,407 | $0 | 0.00% |
For 2018, Security State Bank Of Marine's most frequently cited loan duration was Other, with 54 originations.
Loan Sizing
2018 saw Security State Bank Of Marine place emphasis on $200k-400k loans with 20 originations, totaling $5,380,000 in origination value.
Applicant Income
Security State Bank Of Marine lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 54 | $12,550,000 | $232,407 | $0 | 0.00% |
Security State Bank Of Marine lent most frequently to those with DTI ratios of Exempt%, with 54 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 49 | $11,005,000 | $224,592 | $0 | 0.00% |
| Not applicable | 5 | $1,545,000 | $309,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.55%
Security State Bank Of Marine has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.30%
Security State Bank Of Marine 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 |
|---|---|---|---|
| Exempt | 54 | $12,550,000 | $232,407 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| Security National Financial Corp | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| Security National Financial Corp | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |