Herring Bank Mortgage Rates, Fees & Info
Amarillo, TXLEI: 549300OUFGVRFN8PZB89
Tax ID: 75-0330569
Latest/2024 | 2023 Data | 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, Colorado Springs, Altus, and Breckenridge among others. We have data for 19 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
90Origination Dollar Volume (All Markets)
$30,910,000Top 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) | 35 | $10,395,000 | $297,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 24 | $8,420,000 | $350,833 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $2,425,000 | $808,333 | $0 | 0.00% |
| Altus, OK (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 0.00% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $2,205,000 | $2,205,000 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $1,650,000 | $206,250 | $0 | 0.00% |
| Vernon, TX (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $0 | 0.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Borger, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| Dumas, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| BAY CITY, MI (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 | 79 | $27,595,000 | $349,304 | $0 | 0.00% |
| FHA | 10 | $2,680,000 | $268,000 | $0 | 0.00% |
| VA | 1 | $635,000 | $635,000 | $0 | 0.00% |
For 2024, Herring Bank's most frequently originated type of loan was Conventional, with 79 originations. Their 2nd most popular type was FHA, with 10 originations.
Loan Reason
For 2024, Herring Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 90 | $30,910,000 | $343,444 | $0 | 0.00% |
For 2024, Herring Bank's most frequently cited loan duration was Other, with 90 originations.
Loan Sizing
2024 saw Herring Bank place emphasis on $200k-400k loans with 25 originations, totaling $6,885,000 in origination value.
Applicant Income
Herring Bank lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $250k+, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 90 | $30,910,000 | $343,444 | $0 | 0.00% |
Herring Bank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.48%
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 origination71.11%
Herring Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 90 | $30,910,000 | $343,444 |