First Choice Loan Services Inc.

East Brunswick, NJ 08816

LEI: 549300PUSSF737Y6XW86

Tax ID: 27-1190043

2019 Data | 2018 Data

Overview

First Choice Loan Services Inc. is a small mortgage company specializing in Home Purchase and Refi loans. First Choice Loan Services Inc. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Cambridge, Los Angeles, Phoenix, Dallas, and Boston among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. First Choice Loan Services Inc. is typically a low fee lendor.

Originations

9,082

Origination Dollar Volume (All Markets)

$2,856,990,000

Product Mix

Loan Type	Originations	Total Value	Average Loan
Conventional	6,945	$2,289,955,000	$329,727
FHA	1,450	$336,830,000	$232,297
VA	645	$223,445,000	$346,426
USDA	42	$6,760,000	$160,952

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason	Originations	Total Value	Average Loan
Home Purchase	5,058	$1,432,600,000	$283,234
Home Improvement	62	$18,980,000	$306,129
Other	44	$13,020,000	$295,909
Refi	2,952	$1,071,070,000	$362,829
Cash Out Refi	966	$321,320,000	$332,629

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market	Originations	Total Value	Average Loan
CAMBRIDGE-NEWTON-FRAMINGHAM, MA	557	$236,725,000	$425,000
LOS ANGELES-LONG BEACH-GLENDALE, CA	382	$177,960,000	$465,864
PHOENIX-MESA-CHANDLER, AZ	484	$142,880,000	$295,207
DALLAS-PLANO-IRVING, TX	400	$118,270,000	$295,675
BOSTON, MA	206	$103,100,000	$500,485
NEW BRUNSWICK-LAKEWOOD, NJ	287	$94,025,000	$327,613
OAKLAND-BERKELEY-LIVERMORE, CA	218	$93,600,000	$429,358
Outside of Metro Areas	400	$93,540,000	$233,850
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA	314	$89,460,000	$284,904
SAN DIEGO-CHULA VISTA-CARLSBAD, CA	195	$88,975,000	$456,282
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA	322	$84,770,000	$263,261
HOUSTON-THE WOODLANDS-SUGAR LAND, TX	300	$76,410,000	$254,700
ANAHEIM-SANTA ANA-IRVINE, CA	150	$72,730,000	$484,867
SEATTLE-BELLEVUE-KENT, WA	159	$64,875,000	$408,019
RENO, NV	183	$54,895,000	$299,973
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA	195	$51,465,000	$263,923
PHILADELPHIA, PA	190	$49,450,000	$260,263
AMARILLO, TX	272	$43,590,000	$160,257
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV	105	$40,855,000	$389,095
LAS VEGAS-HENDERSON-PARADISE, NV	125	$37,745,000	$301,960
DENVER-AURORA-LAKEWOOD, CO	103	$37,255,000	$361,699
FORT WORTH-ARLINGTON-GRAPEVINE, TX	162	$36,660,000	$226,296
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT	160	$36,180,000	$226,125
SACRAMENTO-ROSEVILLE-FOLSOM, CA	93	$35,465,000	$381,344
PORTLAND-VANCOUVER-HILLSBORO, OR-WA	78	$27,800,000	$356,410
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI	73	$24,705,000	$338,425
AUSTIN-ROUND ROCK-GEORGETOWN, TX	69	$23,515,000	$340,797
TRENTON-PRINCETON, NJ	81	$19,425,000	$239,815
READING, PA	108	$17,920,000	$165,926
WORCESTER, MA-CT	63	$17,915,000	$284,365
AUBURN-OPELIKA, AL	93	$17,225,000	$185,215
CHICAGO-NAPERVILLE-EVANSTON, IL	53	$17,035,000	$321,415
COLUMBUS, GA-AL	138	$16,280,000	$117,971
SANTA FE, NM	48	$15,860,000	$330,417
VALLEJO, CA	45	$15,725,000	$349,444
CHARLOTTE-CONCORD-GASTONIA, NC-SC	52	$15,460,000	$297,308
STOCKTON, CA	41	$15,085,000	$367,927
NORWICH-NEW LONDON, CT	60	$15,080,000	$251,333
SALT LAKE CITY, UT	44	$15,060,000	$342,273
PROVIDENCE-WARWICK, RI-MA	48	$14,780,000	$307,917
ODESSA, TX	66	$14,460,000	$219,091
NEWARK, NJ-PA	43	$14,225,000	$330,814
SAN ANTONIO-NEW BRAUNFELS, TX	48	$14,160,000	$295,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN	49	$14,135,000	$288,469
TACOMA-LAKEWOOD, WA	39	$13,745,000	$352,436
CAMDEN, NJ	52	$12,930,000	$248,654
WARREN-TROY-FARMINGTON HILLS, MI	46	$12,900,000	$280,435
FREDERICK-GAITHERSBURG-ROCKVILLE, MD	29	$12,885,000	$444,310
OXNARD-THOUSAND OAKS-VENTURA, CA	27	$12,365,000	$457,963
SAN JOSE-SUNNYVALE-SANTA CLARA, CA	24	$11,650,000	$485,417
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH	32	$11,200,000	$350,000
BOISE CITY, ID	34	$10,780,000	$317,059
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ	25	$10,265,000	$410,600
SALINAS, CA	23	$9,785,000	$425,435
RALEIGH-CARY, NC	30	$9,660,000	$322,000
BALTIMORE-COLUMBIA-TOWSON, MD	30	$8,930,000	$297,667
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA	16	$8,720,000	$545,000
FRESNO, CA	32	$8,640,000	$270,000
COLORADO SPRINGS, CO	21	$7,105,000	$338,333
MIDLAND, TX	25	$6,795,000	$271,800
PROVO-OREM, UT	19	$6,535,000	$343,947
INDIANAPOLIS-CARMEL-ANDERSON, IN	23	$6,535,000	$284,130
BRIDGEPORT-STAMFORD-NORWALK, CT	19	$6,465,000	$340,263
NEW ORLEANS-METAIRIE, LA	33	$6,295,000	$190,758
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL	20	$6,290,000	$314,500
TUCSON, AZ	26	$6,070,000	$233,462
TAMPA-ST. PETERSBURG-CLEARWATER, FL	20	$5,770,000	$288,500
SANTA ROSA-PETALUMA, CA	14	$5,750,000	$410,714
MANCHESTER-NASHUA, NH	18	$5,720,000	$317,778
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ	29	$5,685,000	$196,034
MODESTO, CA	20	$5,590,000	$279,500
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL	24	$5,510,000	$229,583
BARNSTABLE TOWN, MA	17	$5,475,000	$322,059
KANSAS CITY, MO-KS	21	$5,385,000	$256,429
NEW HAVEN-MILFORD, CT	21	$5,295,000	$252,143
URBAN HONOLULU, HI	11	$5,235,000	$475,909
BELLINGHAM, WA	16	$5,190,000	$324,375
OGDEN-CLEARFIELD, UT	16	$5,170,000	$323,125
HUNTSVILLE, AL	22	$5,080,000	$230,909
PANAMA CITY, FL	28	$5,020,000	$179,286
ORLANDO-KISSIMMEE-SANFORD, FL	17	$5,005,000	$294,412
WILMINGTON, DE-MD-NJ	16	$4,910,000	$306,875
BAKERSFIELD, CA	18	$4,890,000	$271,667
ANCHORAGE, AK	14	$4,790,000	$342,143
NAPLES-MARCO ISLAND, FL	11	$4,775,000	$434,091
ALBUQUERQUE, NM	17	$4,745,000	$279,118
ST. LOUIS, MO-IL	15	$4,545,000	$303,000
COLUMBUS, OH	18	$4,320,000	$240,000
SALEM, OR	14	$4,290,000	$306,429
RICHMOND, VA	11	$4,025,000	$365,909
BREMERTON-SILVERDALE-PORT ORCHARD, WA	12	$3,800,000	$316,667
MILWAUKEE-WAUKESHA, WI	11	$3,605,000	$327,727
LANCASTER, PA	16	$3,600,000	$225,000
MIAMI-MIAMI BEACH-KENDALL, FL	11	$3,585,000	$325,909
PITTSBURGH, PA	11	$3,435,000	$312,273
OLYMPIA-LACEY-TUMWATER, WA	12	$3,390,000	$282,500
BOULDER, CO	8	$3,360,000	$420,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI	10	$3,310,000	$331,000
NAPA, CA	7	$3,295,000	$470,714
SPRINGFIELD, MA	14	$3,260,000	$232,857
EL PASO, TX	9	$3,185,000	$353,889
SANTA CRUZ-WATSONVILLE, CA	6	$3,090,000	$515,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC	9	$3,025,000	$336,111
KENNEWICK-RICHLAND, WA	9	$2,995,000	$332,778
PRESCOTT VALLEY-PRESCOTT, AZ	14	$2,970,000	$212,143
SAN LUIS OBISPO-PASO ROBLES, CA	7	$2,955,000	$422,143
EUGENE-SPRINGFIELD, OR	9	$2,855,000	$317,222
CAPE CORAL-FORT MYERS, FL	9	$2,825,000	$313,889
KAHULUI-WAILUKU-LAHAINA, HI	5	$2,825,000	$565,000
OCEAN CITY, NJ	8	$2,800,000	$350,000
ANN ARBOR, MI	10	$2,760,000	$276,000
MISSOULA, MT	7	$2,735,000	$390,714
VISALIA, CA	9	$2,735,000	$303,889
JACKSONVILLE, FL	10	$2,690,000	$269,000
PORTLAND-SOUTH PORTLAND, ME	7	$2,655,000	$379,286
FORT COLLINS, CO	7	$2,555,000	$365,000
BEND, OR	8	$2,540,000	$317,500
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL	9	$2,525,000	$280,556
COEUR D'ALENE, ID	9	$2,495,000	$277,222
OMAHA-COUNCIL BLUFFS, NE-IA	8	$2,490,000	$311,250
CINCINNATI, OH-KY-IN	9	$2,465,000	$273,889
FLAGSTAFF, AZ	8	$2,460,000	$307,500
SALISBURY, MD-DE	10	$2,450,000	$245,000
MEDFORD, OR	8	$2,370,000	$296,250
CHATTANOOGA, TN-GA	7	$2,345,000	$335,000
CLEVELAND-ELYRIA, OH	8	$2,330,000	$291,250
GREELEY, CO	9	$2,315,000	$257,222
SPOKANE-SPOKANE VALLEY, WA	10	$2,290,000	$229,000
CHICO, CA	5	$2,275,000	$455,000
SANTA MARIA-SANTA BARBARA, CA	7	$2,245,000	$320,714
NORTH PORT-SARASOTA-BRADENTON, FL	7	$2,235,000	$319,286
LOUISVILLE/JEFFERSON COUNTY, KY-IN	9	$2,195,000	$243,889
MOUNT VERNON-ANACORTES, WA	6	$2,160,000	$360,000
ST. GEORGE, UT	7	$2,115,000	$302,143
KNOXVILLE, TN	6	$2,030,000	$338,333
DETROIT-DEARBORN-LIVONIA, MI	8	$2,020,000	$252,500
WICHITA, KS	7	$2,015,000	$287,857
CARSON CITY, NV	7	$1,905,000	$272,143
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL	6	$1,870,000	$311,667
LAKE HAVASU CITY-KINGMAN, AZ	7	$1,845,000	$263,571
WILMINGTON, NC	5	$1,835,000	$367,000
GREENVILLE-ANDERSON, SC	5	$1,775,000	$355,000
ELGIN, IL	6	$1,750,000	$291,667
TULSA, OK	6	$1,730,000	$288,333
GREENSBORO-HIGH POINT, NC	6	$1,670,000	$278,333
DAPHNE-FAIRHOPE-FOLEY, AL	5	$1,605,000	$321,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC	7	$1,585,000	$226,429
DURHAM-CHAPEL HILL, NC	6	$1,580,000	$263,333
LUBBOCK, TX	7	$1,575,000	$225,000
GULFPORT-BILOXI, MS	3	$1,535,000	$511,667
ASHEVILLE, NC	5	$1,505,000	$301,000
REDDING, CA	4	$1,420,000	$355,000
MEMPHIS, TN-MS-AR	6	$1,410,000	$235,000
CHARLOTTESVILLE, VA	4	$1,390,000	$347,500
SHERMAN-DENISON, TX	5	$1,385,000	$277,000
CHARLESTON-NORTH CHARLESTON, SC	6	$1,340,000	$223,333
BILLINGS, MT	4	$1,330,000	$332,500
KILLEEN-TEMPLE, TX	6	$1,290,000	$215,000
PENSACOLA-FERRY PASS-BRENT, FL	6	$1,270,000	$211,667
SAN RAFAEL, CA	3	$1,255,000	$418,333
BIRMINGHAM-HOOVER, AL	4	$1,230,000	$307,500
WINSTON-SALEM, NC	4	$1,230,000	$307,500
PALM BAY-MELBOURNE-TITUSVILLE, FL	5	$1,205,000	$241,000
CORPUS CHRISTI, TX	5	$1,205,000	$241,000
BEAUMONT-PORT ARTHUR, TX	4	$1,200,000	$300,000
MADERA, CA	4	$1,200,000	$300,000
COLLEGE STATION-BRYAN, TX	3	$1,195,000	$398,333
BURLINGTON-SOUTH BURLINGTON, VT	5	$1,185,000	$237,000
EAST STROUDSBURG, PA	6	$1,160,000	$193,333
SAVANNAH, GA	5	$1,155,000	$231,000
HILTON HEAD ISLAND-BLUFFTON, SC	4	$1,130,000	$282,500
GARY, IN	6	$1,100,000	$183,333
YORK-HANOVER, PA	5	$1,015,000	$203,000
BATON ROUGE, LA	4	$1,010,000	$252,500
PORT ST. LUCIE, FL	4	$1,010,000	$252,500
AUGUSTA-RICHMOND COUNTY, GA-SC	4	$990,000	$247,500
GRAND RAPIDS-KENTWOOD, MI	3	$975,000	$325,000
OKLAHOMA CITY, OK	4	$960,000	$240,000
MOBILE, AL	3	$935,000	$311,667
MONTGOMERY, AL	6	$920,000	$153,333
THE VILLAGES, FL	3	$835,000	$278,333
HANFORD-CORCORAN, CA	2	$830,000	$415,000
EAU CLAIRE, WI	2	$820,000	$410,000
AKRON, OH	6	$820,000	$136,667
DES MOINES-WEST DES MOINES, IA	2	$760,000	$380,000
TYLER, TX	3	$745,000	$248,333
MADISON, WI	2	$740,000	$370,000
LAS CRUCES, NM	3	$725,000	$241,667
PITTSFIELD, MA	4	$710,000	$177,500
WINCHESTER, VA-WV	3	$705,000	$235,000
ATLANTIC CITY-HAMMONTON, NJ	3	$705,000	$235,000
NILES, MI	2	$680,000	$340,000
FAYETTEVILLE, NC	3	$665,000	$221,667
ATHENS-CLARKE COUNTY, GA	3	$655,000	$218,333
RAPID CITY, SD	2	$650,000	$325,000
EL CENTRO, CA	3	$645,000	$215,000
MERCED, CA	2	$640,000	$320,000
WALLA WALLA, WA	2	$610,000	$305,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR	2	$590,000	$295,000
YUBA CITY, CA	3	$585,000	$195,000
WACO, TX	3	$585,000	$195,000
HOT SPRINGS, AR	2	$540,000	$270,000
Outside of Metro Areas	1	$535,000	$535,000
GAINESVILLE, GA	2	$520,000	$260,000
DULUTH, MN-WI	3	$505,000	$168,333
GRAND FORKS, ND-MN	1	$505,000	$505,000
BRUNSWICK, GA	1	$505,000	$505,000
YAKIMA, WA	2	$500,000	$250,000
ALBANY-LEBANON, OR	2	$490,000	$245,000
TALLAHASSEE, FL	3	$485,000	$161,667
LONGVIEW, WA	1	$485,000	$485,000
SIERRA VISTA-DOUGLAS, AZ	2	$480,000	$240,000
PUNTA GORDA, FL	2	$470,000	$235,000
DOVER, DE	1	$435,000	$435,000
DAYTON-KETTERING, OH	3	$425,000	$141,667
MICHIGAN CITY-LA PORTE, IN	1	$405,000	$405,000
BANGOR, ME	1	$395,000	$395,000
LAFAYETTE-WEST LAFAYETTE, IN	1	$375,000	$375,000
ROCHESTER, MN	1	$365,000	$365,000
CALIFORNIA-LEXINGTON PARK, MD	1	$355,000	$355,000
HICKORY-LENOIR-MORGANTON, NC	1	$355,000	$355,000
LONGVIEW, TX	1	$355,000	$355,000
LAFAYETTE, LA	1	$355,000	$355,000
HARRISBURG-CARLISLE, PA	2	$350,000	$175,000
DOTHAN, AL	2	$350,000	$175,000
MIDLAND, MI	1	$345,000	$345,000
CHEYENNE, WY	1	$345,000	$345,000
SHREVEPORT-BOSSIER CITY, LA	2	$340,000	$170,000
LOGAN, UT-ID	1	$335,000	$335,000
LEXINGTON-FAYETTE, KY	2	$330,000	$165,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL	1	$325,000	$325,000
LINCOLN, NE	1	$315,000	$315,000
VICTORIA, TX	1	$315,000	$315,000
WENATCHEE, WA	1	$315,000	$315,000
FARGO, ND-MN	1	$305,000	$305,000
APPLETON, WI	1	$295,000	$295,000
PUEBLO, CO	1	$295,000	$295,000
HAMMOND, LA	2	$290,000	$145,000
FAIRBANKS, AK	1	$275,000	$275,000
YUMA, AZ	2	$270,000	$135,000
CLARKSVILLE, TN-KY	2	$270,000	$135,000
SOUTH BEND-MISHAWAKA, IN-MI	1	$265,000	$265,000
POCATELLO, ID	1	$265,000	$265,000
LEWISTON, ID-WA	1	$265,000	$265,000
LAKE CHARLES, LA	1	$255,000	$255,000
HOMOSASSA SPRINGS, FL	1	$255,000	$255,000
GRAND JUNCTION, CO	1	$255,000	$255,000
GAINESVILLE, FL	1	$255,000	$255,000
LEBANON, PA	2	$250,000	$125,000
IDAHO FALLS, ID	1	$245,000	$245,000
LANSING-EAST LANSING, MI	1	$245,000	$245,000
WAUSAU-WESTON, WI	1	$225,000	$225,000
VINELAND-BRIDGETON, NJ	1	$225,000	$225,000
BURLINGTON, NC	1	$205,000	$205,000
SAN ANGELO, TX	1	$175,000	$175,000
SEBASTIAN-VERO BEACH, FL	1	$175,000	$175,000
GADSDEN, AL	1	$175,000	$175,000
JACKSONVILLE, NC	1	$165,000	$165,000
TUSCALOOSA, AL	1	$155,000	$155,000
SPRINGFIELD, IL	1	$145,000	$145,000
ROCKY MOUNT, NC	1	$145,000	$145,000
MCALLEN-EDINBURG-MISSION, TX	1	$135,000	$135,000
LAWRENCE, KS	1	$125,000	$125,000
SCRANTON--WILKES-BARRE, PA	1	$105,000	$105,000
MACON-BIBB COUNTY, GA	1	$105,000	$105,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate	Originations	Total Value	Average Loan
<2.5%	71	$2,145,000	$30,211
2.5-3%	143	$44,155,000	$308,776
3-4%	4,755	$1,626,635,000	$342,089
4-5%	3,176	$962,750,000	$303,133
5-6%	875	$208,275,000	$238,029
6-7%	50	$12,160,000	$243,200
7-8%	12	$870,000	$72,500

Loan Sizing

Loan Size	Originations	Total Value	Average Loan
$100,000 or less	438	$25,870,000	$59,064
$100k-200k	1,690	$263,950,000	$156,183
$200k-400k	4,694	$1,379,920,000	$293,975
$400k-600k	1,822	$852,290,000	$467,777
$600k-1000k	393	$276,335,000	$703,142
$Over $1MM	45	$58,625,000	$1,302,778

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan
20-40%	281	$69,925,000	$248,843
40-60%	916	$298,130,000	$325,469
60-80%	3,276	$1,147,640,000	$350,317
80-100%	4,334	$1,289,180,000	$297,457
Over 100%	135	$44,645,000	$330,704
Under 20%	140	$7,470,000	$53,357

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan
$100k-150k	2,434	$841,820,000	$345,859
$150k-250k	1,763	$701,415,000	$397,853
$50k-75k	1,591	$344,445,000	$216,496
$50k-or less	1,007	$184,545,000	$183,262
$75k-100k	1,667	$476,405,000	$285,786
$Over $250k	580	$295,700,000	$509,828

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan
White	6,172	$1,905,620,000	$308,752
Not provided	1,629	$540,985,000	$332,096
Asian	751	$278,735,000	$371,152
Black	468	$110,950,000	$237,073
Asian Indian	18	$6,150,000	$341,667
American Indian	22	$5,840,000	$265,455
Native Hawaiian	14	$5,420,000	$387,143
	4	$1,850,000	$462,500
Filipino	3	$885,000	$295,000
Japanese	1	$555,000	$555,000

Approval Rates

Total approvals of all applications
98.21%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
63.13%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points	Originations	Total Value	Average Loan
0.0	4	$60,000	$15,000
NA	9,078	$2,856,930,000	$314,709

Origination Fees

Origination Fee	Originations	Total Value	Average Loan
$<1k	6,715	$2,135,365,000	$317,999
$1k-2k	1,317	$378,255,000	$287,210
$2k-3k	454	$125,990,000	$277,511
$3k-4k	351	$113,085,000	$322,179
$5k+	228	$101,500,000	$445,175

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	10	$1,210,000	$121,000
Single Family (1-4 Units):Site-Built	9,072	$2,855,780,000	$314,791