Citywide Home Loans A Utah Corporation

Sandy, UT 84070

LEI: 549300Q1WJSOIS2FON98

Tax ID: 87-0623581

2019 Data | 2018 Data


Overview

Citywide Home Loans A Utah Corporation is a small mortgage company specializing in Home Purchase loans. Citywide Home Loans A Utah Corporation 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 Salt Lake City, Ogden, Denver, Phoenix, and Las Vegas 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. Citywide Home Loans A Utah Corporation is typically a medium-low fee high fee lendor.


Originations

9,057

Origination Dollar Volume (All Markets)

$2,382,495,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 6,582 $1,716,520,000 $260,790
FHA 1,917 $493,375,000 $257,368
VA 483 $155,665,000 $322,288
USDA 75 $16,935,000 $225,800

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 6,830 $1,713,950,000 $250,944
Home Improvement 419 $112,255,000 $267,912
Refi 1,238 $393,190,000 $317,601
Cash Out Refi 570 $163,100,000 $286,140

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
SALT LAKE CITY, UT 1,864 $506,310,000 $271,626
OGDEN-CLEARFIELD, UT 1,115 $277,685,000 $249,045
DENVER-AURORA-LAKEWOOD, CO 764 $220,600,000 $288,743
PHOENIX-MESA-CHANDLER, AZ 601 $167,035,000 $277,928
LAS VEGAS-HENDERSON-PARADISE, NV 558 $163,400,000 $292,832
PROVO-OREM, UT 582 $159,920,000 $274,777
Outside of Metro Areas 419 $108,745,000 $259,535
FRESNO, CA 380 $108,100,000 $284,474
VISALIA, CA 682 $103,210,000 $151,334
LOS ANGELES-LONG BEACH-GLENDALE, CA 148 $51,840,000 $350,270
BOISE CITY, ID 250 $48,260,000 $193,040
SEATTLE-BELLEVUE-KENT, WA 122 $41,840,000 $342,951
ANAHEIM-SANTA ANA-IRVINE, CA 76 $40,840,000 $537,368
BOULDER, CO 91 $39,965,000 $439,176
ST. GEORGE, UT 147 $39,355,000 $267,721
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 108 $30,380,000 $281,296
MCALLEN-EDINBURG-MISSION, TX 183 $27,055,000 $147,842
GREELEY, CO 83 $22,655,000 $272,952
COLORADO SPRINGS, CO 91 $21,705,000 $238,516
OAKLAND-BERKELEY-LIVERMORE, CA 40 $15,670,000 $391,750
HANFORD-CORCORAN, CA 62 $14,170,000 $228,548
FORT COLLINS, CO 40 $13,720,000 $343,000
IDAHO FALLS, ID 66 $13,410,000 $203,182
OXNARD-THOUSAND OAKS-VENTURA, CA 32 $12,390,000 $387,188
URBAN HONOLULU, HI 18 $10,190,000 $566,111
CHICAGO-NAPERVILLE-EVANSTON, IL 63 $9,185,000 $145,794
SACRAMENTO-ROSEVILLE-FOLSOM, CA 28 $9,030,000 $322,500
LOGAN, UT-ID 41 $8,865,000 $216,220
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 24 $8,060,000 $335,833
BAKERSFIELD, CA 36 $7,390,000 $205,278
VALLEJO, CA 28 $6,750,000 $241,071
SAN LUIS OBISPO-PASO ROBLES, CA 21 $5,065,000 $241,190
TACOMA-LAKEWOOD, WA 15 $4,245,000 $283,000
SANTA MARIA-SANTA BARBARA, CA 8 $3,870,000 $483,750
MADERA, CA 22 $3,820,000 $173,636
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 6 $3,520,000 $586,667
PRESCOTT VALLEY-PRESCOTT, AZ 13 $3,205,000 $246,538
ELGIN, IL 17 $2,885,000 $169,706
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 14 $2,610,000 $186,429
STOCKTON, CA 7 $2,385,000 $340,714
SALINAS, CA 5 $2,265,000 $453,000
MERCED, CA 6 $2,130,000 $355,000
NAPA, CA 4 $1,890,000 $472,500
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 3 $1,725,000 $575,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 4 $1,630,000 $407,500
MOUNT VERNON-ANACORTES, WA 6 $1,540,000 $256,667
SANTA CRUZ-WATSONVILLE, CA 3 $1,405,000 $468,333
GRAND JUNCTION, CO 7 $1,405,000 $200,714
BROWNSVILLE-HARLINGEN, TX 9 $1,365,000 $151,667
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 11 $1,345,000 $122,273
WARREN-TROY-FARMINGTON HILLS, MI 3 $1,335,000 $445,000
FLAGSTAFF, AZ 8 $1,300,000 $162,500
MODESTO, CA 2 $1,100,000 $550,000
SANTA ROSA-PETALUMA, CA 2 $1,100,000 $550,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 6 $1,050,000 $175,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 3 $1,025,000 $341,667
LAKE HAVASU CITY-KINGMAN, AZ 6 $1,000,000 $166,667
POCATELLO, ID 5 $965,000 $193,000
LANSING-EAST LANSING, MI 5 $915,000 $183,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 3 $865,000 $288,333
MILWAUKEE-WAUKESHA, WI 5 $855,000 $171,000
OLYMPIA-LACEY-TUMWATER, WA 2 $800,000 $400,000
TUCSON, AZ 5 $795,000 $159,000
TWIN FALLS, ID 2 $780,000 $390,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 3 $775,000 $258,333
ALBUQUERQUE, NM 5 $765,000 $153,000
CORPUS CHRISTI, TX 4 $630,000 $157,500
CLEVELAND-ELYRIA, OH 9 $595,000 $66,111
FORT WORTH-ARLINGTON-GRAPEVINE, TX 2 $530,000 $265,000
SAN ANTONIO-NEW BRAUNFELS, TX 3 $525,000 $175,000
PUEBLO, CO 3 $405,000 $135,000
NEW HAVEN-MILFORD, CT 1 $395,000 $395,000
WENATCHEE, WA 1 $375,000 $375,000
KNOXVILLE, TN 1 $355,000 $355,000
GREENVILLE-ANDERSON, SC 1 $335,000 $335,000
PUNTA GORDA, FL 1 $315,000 $315,000
DETROIT-DEARBORN-LIVONIA, MI 3 $305,000 $101,667
MISSOULA, MT 1 $305,000 $305,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 2 $300,000 $150,000
LAFAYETTE-WEST LAFAYETTE, IN 2 $280,000 $140,000
CHICO, CA 1 $245,000 $245,000
WICHITA, KS 1 $245,000 $245,000
SIOUX FALLS, SD 1 $235,000 $235,000
COEUR D'ALENE, ID 1 $235,000 $235,000
DALLAS-PLANO-IRVING, TX 1 $235,000 $235,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $235,000 $235,000
LONGVIEW, TX 1 $225,000 $225,000
NAPLES-MARCO ISLAND, FL 1 $215,000 $215,000
SPOKANE-SPOKANE VALLEY, WA 1 $205,000 $205,000
KANSAS CITY, MO-KS 1 $205,000 $205,000
MONROE, MI 1 $195,000 $195,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $195,000 $195,000
TOPEKA, KS 1 $185,000 $185,000
SAVANNAH, GA 1 $185,000 $185,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 2 $180,000 $90,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 1 $165,000 $165,000
NEW ORLEANS-METAIRIE, LA 1 $155,000 $155,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $155,000 $155,000
TYLER, TX 1 $155,000 $155,000
JACKSONVILLE, FL 1 $145,000 $145,000
DECATUR, IL 1 $145,000 $145,000
OKLAHOMA CITY, OK 1 $145,000 $145,000
GAINESVILLE, GA 1 $135,000 $135,000
ANNISTON-OXFORD, AL 1 $125,000 $125,000
CAPE CORAL-FORT MYERS, FL 1 $125,000 $125,000
REDDING, CA 1 $115,000 $115,000
FLINT, MI 1 $105,000 $105,000
YUMA, AZ 1 $105,000 $105,000
JOHNSON CITY, TN 1 $85,000 $85,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $75,000 $75,000
PEORIA, IL 1 $65,000 $65,000
JACKSON, TN 1 $55,000 $55,000
JACKSON, MS 1 $55,000 $55,000
ATHENS-CLARKE COUNTY, GA 1 $55,000 $55,000

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% 44 $420,000 $9,545
2.5-3% 135 $4,705,000 $34,852
3-4% 2,789 $838,375,000 $300,601
4-5% 4,102 $1,204,380,000 $293,608
5-6% 1,242 $301,780,000 $242,979
6-7% 190 $20,450,000 $107,632
7-8% 183 $6,635,000 $36,257
Over 8% 8 $2,300,000 $287,500

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,238 $25,040,000 $20,226
$100k-200k 1,569 $251,215,000 $160,112
$200k-400k 4,970 $1,431,980,000 $288,125
$400k-600k 1,051 $490,225,000 $466,437
$600k-1000k 196 $140,170,000 $715,153
$Over $1MM 33 $43,865,000 $1,329,242

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% 148 $25,320,000 $171,081
40-60% 489 $123,815,000 $253,200
60-80% 2,281 $724,585,000 $317,661
80-100% 4,965 $1,462,235,000 $294,509
Over 100% 102 $34,450,000 $337,745
Under 20% 1,072 $12,090,000 $11,278

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 1,559 $507,955,000 $325,821
$150k-250k 842 $343,010,000 $407,375
$50k-75k 2,756 $589,860,000 $214,028
$50k-or less 1,811 $305,275,000 $168,567
$75k-100k 1,801 $479,495,000 $266,238
$Over $250k 288 $156,900,000 $544,792

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,371 $1,934,945,000 $262,508
Not provided 981 $245,675,000 $250,433
Asian 343 $114,965,000 $335,175
Black 236 $55,300,000 $234,322
Native Hawaiian 55 $15,345,000 $279,000
American Indian 47 $8,815,000 $187,553
Other Asian 7 $2,325,000 $332,143
Filipino 7 $1,815,000 $259,286
Asian Indian 4 $1,380,000 $345,000
Vietnamese 3 $925,000 $308,333
Japanese 1 $365,000 $365,000
Chinese 1 $345,000 $345,000
Samoan 1 $295,000 $295,000

Approval Rates

Total approvals of all applications
93.18%

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
62.70%

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
4813.0 1 $145,000 $145,000
5290.0 1 $115,000 $115,000
NA 9,055 $2,382,235,000 $263,085

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,091 $37,595,000 $34,459
$1k-2k 3,518 $1,081,750,000 $307,490
$2k-3k 1,437 $377,115,000 $262,432
$3k-4k 1,877 $528,305,000 $281,462
$5k+ 894 $321,560,000 $359,687

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 113 $18,485,000 $163,584
Single Family (1-4 Units):Site-Built 8,944 $2,364,010,000 $264,312