Partners Mortgage Rates, Fees & Info

Burbank, CA

LEI: 549300QD5CQZ9PPP5B09

Tax ID: 95-2622194

3.8 stars - out of 5 stars, based on 46 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Partners is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Partners has a high proportion of conventional loans. Their top markets include Los Angeles, Orlando, Riverside, Lakeland, and San Diego among others. Partners has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Partners is typically a high fee lendor.


Originations

2,156

Origination Dollar Volume (All Markets)

$584,680,000
Show all (6) awards

Relative Rate

Partners's average 30 year fixed rate mortgage of loans were 2.89%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.26%.

Relative Fees

Partners's average total fees for a 30 year fixed rate mortgage are $6,752.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 832 $299,100,000 $359,495 $6,677 3.23%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 834 $173,300,000 $207,794 $5,042 3.16%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 134 $34,410,000 $256,791 $5,369 3.29%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 179 $25,875,000 $144,553 $4,263 3.18%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 19 $7,875,000 $414,474 $9,737 3.26%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 26 $7,230,000 $278,077 $6,683 3.47%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 11 $6,105,000 $555,000 $9,941 3.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 22 $4,570,000 $207,727 $4,792 3.51%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $3,290,000 $274,167 $6,607 3.48%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $2,740,000 $456,667 $6,299 3.17%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 15 $2,475,000 $165,000 $5,278 3.61%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 11 $2,395,000 $217,727 $6,477 3.46%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $2,230,000 $371,667 $6,947 2.94%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,660,000 $830,000 $10,048 3.00%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,445,000 $289,000 $5,489 2.70%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $1,285,000 $1,285,000 $12,904 3.13%
THE VILLAGES, FL (FHA|USDA|VA) 3 $975,000 $325,000 $7,418 2.83%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $840,000 $140,000 $4,282 3.38%
MODESTO, CA (FHA|USDA|VA) 2 $780,000 $390,000 $4,966 2.88%
GAINESVILLE, FL (FHA|USDA|VA) 2 $680,000 $340,000 $6,895 2.94%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $635,000 $211,667 $3,683 3.59%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $610,000 $152,500 $7,298 3.28%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $610,000 $305,000 $4,063 2.56%
FRESNO, CA (FHA|USDA|VA) 3 $585,000 $195,000 $4,828 2.67%
STOCKTON, CA (FHA|USDA|VA) 1 $505,000 $505,000 $12,120 2.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $495,000 $165,000 $14,206 3.75%
YUBA CITY, CA (FHA|USDA|VA) 1 $495,000 $495,000 $6,267 2.88%
NAPA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $2,750 2.88%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.00%
Sonora, CA (FHA|USDA|VA) 1 $225,000 $225,000 $4,576 2.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,451 2.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,385 2.88%
SALINAS, CA (FHA|USDA|VA) 1 $135,000 $135,000 $2,270 2.88%
Crescent City, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,111 2.88%
MADERA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.62%
CHICO, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.50%
Outside of Metro Areas 1 $25,000 $25,000 $0 4.86%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.50%

Partners's top markets include Los Angeles, Orlando, Riverside, Lakeland, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,156 $584,680,000 $271,187 $5,715 3.21%

For the 2021 period, Partners's most frequently originated loan type of loans were Conventional, with 2,156 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 627 $187,585,000 $299,179 $4,403 2.77%
Cash Out Refi 509 $178,925,000 $351,523 $7,057 2.76%
Home Improvement 453 $62,415,000 $137,781 $3,395 3.98%
Home Purchase 293 $118,975,000 $406,058 $7,522 3.01%
Other 274 $36,780,000 $134,234 $3,679 4.01%

For the 2021, Partners's most frequently cited loan purpose of loans were Refi, with 627 originations. The 2nd most popular reason of loans were Cash Out Refi, with 509 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,035 $392,325,000 $379,058 $6,752 2.89%
20 Year 730 $103,650,000 $141,986 $3,278 3.94%
15 Year 331 $77,425,000 $233,912 $3,847 2.65%
10 Year 52 $11,060,000 $212,692 $4,470 2.58%
5 Year 8 $220,000 $27,500 $0 5.06%

For the 2021, Partners's most frequently cited loan length of loans were 30 Year, with 1,035 originations. The 2nd most popular length of loans were 20 Year, with 730 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 373 $86,905,000 $232,989
$5k+ 367 $192,555,000 $524,673
$3k-4k 313 $102,675,000 $328,035
$2k-3k 261 $73,645,000 $282,165
$1k-2k 253 $56,965,000 $225,158

$6,752 of loans were Partners's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 373 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,030 $363,240,000 $352,660
3-4% 628 $118,130,000 $188,105
<2.5% 350 $91,880,000 $262,514
4-5% 100 $7,560,000 $75,600
5-6% 45 $3,105,000 $69,000
Over 8% 1 $105,000 $105,000

During 2021, Partners's average interest rate of loans were 2.89%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,030 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 780 $221,960,000 $284,564 $5,277 2.91%
$100k-200k 504 $73,950,000 $146,726 $3,686 3.19%
$100,000 or less 443 $24,425,000 $55,135 $1,187 4.06%
$400k-600k 267 $129,475,000 $484,925 $7,614 2.85%
$600k-1MM 135 $100,655,000 $745,593 $12,045 2.96%
$1MM+ 27 $34,215,000 $1,267,222 $14,276 2.90%

2021 saw Partners place emphasis on $200k-400k loans with 780 originations, totaling $221,960,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 535 $140,795,000 $263,168 $6,082 3.20%
$150k-250k 489 $169,675,000 $346,984 $6,665 3.28%
$75k-100k 396 $85,090,000 $214,874 $5,210 3.22%
$50k-75k 346 $58,640,000 $169,480 $4,387 3.17%
$250k+ 174 $90,100,000 $517,816 $9,125 3.33%
$50k or less 152 $22,120,000 $145,526 $3,992 2.97%

Partners lent most frequently to those with incomes in the $100k-150k range, with 535 originations. The second most popular income band? $150k-250k, with 489 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 544 $157,360,000 $289,265 $5,370 3.04%
30-36% 389 $110,565,000 $284,229 $5,744 3.25%
<20% 184 $48,110,000 $261,467 $5,085 2.89%
50-60% 120 $24,180,000 $201,500 $6,527 3.71%
41% 81 $22,525,000 $278,086 $7,123 3.27%
37% 81 $22,335,000 $275,741 $5,588 3.21%
42% 75 $18,585,000 $247,800 $5,410 3.42%
39% 75 $19,175,000 $255,667 $4,896 3.48%
36% 70 $16,940,000 $242,000 $5,242 3.23%
43% 69 $20,795,000 $301,377 $7,057 3.19%
49% 66 $14,440,000 $218,788 $5,945 3.37%
38% 63 $17,745,000 $281,667 $6,301 3.34%
44% 63 $20,025,000 $317,857 $7,686 3.20%
40% 63 $16,975,000 $269,444 $5,540 3.21%
47% 61 $16,995,000 $278,607 $6,836 3.26%
48% 54 $15,440,000 $285,926 $6,817 3.29%
46% 45 $10,125,000 $225,000 $5,420 3.18%
45% 45 $10,395,000 $231,000 $5,782 3.35%
>60% 8 $1,970,000 $246,250 $4,959 3.38%

Partners lent most frequently to those with DTI ratios of 20-30%, with 544 originations. The next most common DTI ratio? 30-36%, with 389 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,485 $398,515,000 $268,360 $5,650 3.18%
Not provided 404 $101,420,000 $251,040 $5,763 3.36%
Asian 116 $36,350,000 $313,362 $5,939 3.22%
Black 83 $19,185,000 $231,145 $5,392 3.30%
American Indian 21 $7,605,000 $362,143 $8,388 2.74%
Filipino 12 $5,470,000 $455,833 $5,673 2.74%
Other Asian 9 $3,815,000 $423,889 $5,611 2.88%
Chinese 6 $3,800,000 $633,333 $5,995 2.79%
Asian Indian 7 $3,015,000 $430,714 $7,381 2.96%
Japanese 5 $2,725,000 $545,000 $5,924 2.80%
Native Hawaiian 3 $1,395,000 $465,000 $7,085 3.38%
Vietnamese 3 $835,000 $278,333 $4,353 2.38%
Other Pacific Islander 1 $285,000 $285,000 $3,808 2.88%
Korean 1 $265,000 $265,000 $2,750 2.75%

Approval Rates

Total approvals of all applications
83.09%

Partners has a below average approval rate.

Pick Rate

Approvals leading to origination
82.68%

Partners has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,156 $584,680,000 $271,187

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,156 $584,680,000 $271,187

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 394 $82,100,000 $208,376 $3,640 3.31%
40-60% 428 $134,590,000 $314,463 $4,615 2.77%
60-80% 593 $229,655,000 $387,277 $7,463 2.84%
80-100% 263 $100,785,000 $383,213 $7,109 2.94%
Under 20% 478 $37,550,000 $78,556 $949 4.12%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Partners for Payment Relief Other type of mortgage Trouble during payment process 1 100.0%