Herring Bank Mortgage Rates, Fees & Info
Amarillo, TXLEI: 549300OUFGVRFN8PZB89
Tax ID: 75-0330569
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Herring Bank is a smaller bank specializing in Home Purchase loans. Herring Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Amarillo, Dallas, Kerrville, Vernon, and Sherman among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Herring Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
106Origination Dollar Volume (All Markets)
$21,490,000Top 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 |
|---|---|---|---|---|---|
| AMARILLO, TX (FHA|USDA|VA) | 39 | $10,375,000 | $266,026 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 25 | $5,405,000 | $216,200 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $1,890,000 | $118,125 | $0 | 0.00% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $0 | 0.00% |
| Vernon, TX (FHA|USDA|VA) | 9 | $565,000 | $62,778 | $0 | 0.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Andrews, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Lufkin, TX (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Borger, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Altus, OK (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $0 | 0.00% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Pampa, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 87 | $16,465,000 | $189,253 | $0 | 0.00% |
| FHA | 18 | $4,690,000 | $260,556 | $0 | 0.00% |
| VA | 1 | $335,000 | $335,000 | $0 | 0.00% |
For 2023, Herring Bank's most frequently originated type of loan was Conventional, with 87 originations. Their 2nd most popular type was FHA, with 18 originations.
Loan Reason
For 2023, Herring Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 106 | $21,490,000 | $202,736 | $0 | 0.00% |
For 2023, Herring Bank's most frequently cited loan duration was Other, with 106 originations.
Loan Sizing
2023 saw Herring Bank place emphasis on $100,000 or less loans with 34 originations, totaling $1,870,000 in origination value.
Applicant Income
Herring Bank lent most frequently to those with incomes in the $150k-250k range, with 20 originations. The second most popular income band? $75k-100k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 106 | $21,490,000 | $202,736 | $0 | 0.00% |
Herring Bank lent most frequently to those with DTI ratios of Exempt%, with 106 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.48%
Herring 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 origination70.75%
Herring Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 106 | $21,490,000 | $202,736 |