Nations Direct Mortgage Llc

Santa Ana, CA 92707

LEI: 549300QKL5FUBZ8LSF50

Tax ID: 20-8544905

2019 Data | 2018 Data


Overview

Nations Direct Mortgage Llc is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Nations Direct Mortgage Llc 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 Los Angeles, Portland, Anaheim, Riverside, and San Diego 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. Nations Direct Mortgage Llc is typically a low fee medium-low fee lendor.


Originations

6,240

Origination Dollar Volume (All Markets)

$2,026,090,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 3,265 $1,189,685,000 $364,375
FHA 1,647 $440,695,000 $267,574
VA 1,055 $353,225,000 $334,810
USDA 273 $42,485,000 $155,623

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 3,451 $1,027,735,000 $297,808
NA 1 $675,000 $675,000
Refi 1,459 $542,575,000 $371,881
Cash Out Refi 1,329 $455,105,000 $342,442

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,008 $461,500,000 $457,837
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 997 $344,805,000 $345,843
ANAHEIM-SANTA ANA-IRVINE, CA 283 $154,155,000 $544,717
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 409 $129,345,000 $316,247
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 158 $88,950,000 $562,975
Outside of Metro Areas 345 $67,965,000 $197,000
SALEM, OR 162 $46,470,000 $286,852
PHOENIX-MESA-CHANDLER, AZ 114 $32,020,000 $280,877
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 68 $27,910,000 $410,441
CHICAGO-NAPERVILLE-EVANSTON, IL 123 $27,225,000 $221,341
SEATTLE-BELLEVUE-KENT, WA 60 $26,920,000 $448,667
BEND, OR 78 $26,910,000 $345,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 120 $26,860,000 $223,833
OXNARD-THOUSAND OAKS-VENTURA, CA 47 $26,705,000 $568,191
DETROIT-DEARBORN-LIVONIA, MI 159 $26,175,000 $164,623
WARREN-TROY-FARMINGTON HILLS, MI 137 $25,335,000 $184,927
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 96 $22,510,000 $234,479
OAKLAND-BERKELEY-LIVERMORE, CA 44 $20,950,000 $476,136
SACRAMENTO-ROSEVILLE-FOLSOM, CA 63 $20,695,000 $328,492
DALLAS-PLANO-IRVING, TX 56 $17,880,000 $319,286
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 29 $17,605,000 $607,069
EUGENE-SPRINGFIELD, OR 63 $16,775,000 $266,270
STOCKTON, CA 38 $12,350,000 $325,000
COLUMBUS, OH 56 $12,090,000 $215,893
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 50 $11,920,000 $238,400
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 52 $11,840,000 $227,692
ORLANDO-KISSIMMEE-SANFORD, FL 42 $10,540,000 $250,952
GREENVILLE-ANDERSON, SC 58 $9,930,000 $171,207
JACKSONVILLE, FL 36 $9,610,000 $266,944
CINCINNATI, OH-KY-IN 53 $9,225,000 $174,057
MIAMI-MIAMI BEACH-KENDALL, FL 36 $8,570,000 $238,056
ALBANY-LEBANON, OR 31 $8,125,000 $262,097
BAKERSFIELD, CA 36 $7,920,000 $220,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 35 $7,685,000 $219,571
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 24 $7,680,000 $320,000
BATON ROUGE, LA 43 $7,485,000 $174,070
OCALA, FL 51 $7,155,000 $140,294
KNOXVILLE, TN 43 $6,945,000 $161,512
DENVER-AURORA-LAKEWOOD, CO 17 $6,485,000 $381,471
MODESTO, CA 21 $5,815,000 $276,905
TACOMA-LAKEWOOD, WA 15 $5,675,000 $378,333
NORTH PORT-SARASOTA-BRADENTON, FL 27 $5,285,000 $195,741
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 8 $5,280,000 $660,000
LAS VEGAS-HENDERSON-PARADISE, NV 15 $4,915,000 $327,667
FRESNO, CA 19 $4,775,000 $251,316
VALLEJO, CA 13 $4,705,000 $361,923
SPARTANBURG, SC 25 $4,625,000 $185,000
LAKELAND-WINTER HAVEN, FL 22 $4,600,000 $209,091
BALTIMORE-COLUMBIA-TOWSON, MD 12 $3,860,000 $321,667
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 15 $3,815,000 $254,333
CHARLESTON-NORTH CHARLESTON, SC 17 $3,685,000 $216,765
NEWARK, NJ-PA 10 $3,550,000 $355,000
CAMDEN, NJ 18 $3,420,000 $190,000
SAN LUIS OBISPO-PASO ROBLES, CA 8 $3,410,000 $426,250
HANFORD-CORCORAN, CA 14 $3,350,000 $239,286
LAKE COUNTY-KENOSHA COUNTY, IL-WI 12 $3,340,000 $278,333
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 9 $3,255,000 $361,667
BRIDGEPORT-STAMFORD-NORWALK, CT 14 $3,090,000 $220,714
LONGVIEW, WA 13 $3,085,000 $237,308
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 6 $2,790,000 $465,000
WACO, TX 13 $2,565,000 $197,308
COLUMBIA, SC 13 $2,475,000 $190,385
MORRISTOWN, TN 15 $2,435,000 $162,333
NEW BRUNSWICK-LAKEWOOD, NJ 4 $2,430,000 $607,500
SALINAS, CA 7 $2,425,000 $346,429
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 10 $2,420,000 $242,000
FLINT, MI 17 $2,395,000 $140,882
REDDING, CA 10 $2,350,000 $235,000
SANTA ROSA-PETALUMA, CA 4 $2,300,000 $575,000
BIRMINGHAM-HOOVER, AL 10 $2,220,000 $222,000
NAPLES-MARCO ISLAND, FL 5 $2,215,000 $443,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 5 $2,175,000 $435,000
LAFAYETTE, LA 17 $2,145,000 $126,176
MEDFORD, OR 6 $2,110,000 $351,667
SANTA MARIA-SANTA BARBARA, CA 7 $2,025,000 $289,286
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 11 $1,985,000 $180,455
COLORADO SPRINGS, CO 8 $1,980,000 $247,500
GRAND RAPIDS-KENTWOOD, MI 10 $1,950,000 $195,000
OLYMPIA-LACEY-TUMWATER, WA 6 $1,870,000 $311,667
SANTA CRUZ-WATSONVILLE, CA 4 $1,870,000 $467,500
AUSTIN-ROUND ROCK-GEORGETOWN, TX 6 $1,760,000 $293,333
HILTON HEAD ISLAND-BLUFFTON, SC 8 $1,630,000 $203,750
NEW ORLEANS-METAIRIE, LA 8 $1,590,000 $198,750
SAN ANTONIO-NEW BRAUNFELS, TX 7 $1,575,000 $225,000
MERCED, CA 5 $1,565,000 $313,000
CORVALLIS, OR 5 $1,555,000 $311,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 8 $1,550,000 $193,750
SPOKANE-SPOKANE VALLEY, WA 7 $1,525,000 $217,857
HOUMA-THIBODAUX, LA 10 $1,520,000 $152,000
PUNTA GORDA, FL 7 $1,435,000 $205,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 5 $1,375,000 $275,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 6 $1,360,000 $226,667
TULSA, OK 7 $1,355,000 $193,571
CLEVELAND-ELYRIA, OH 10 $1,350,000 $135,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 6 $1,290,000 $215,000
VISALIA, CA 6 $1,280,000 $213,333
PROVO-OREM, UT 6 $1,270,000 $211,667
RENO, NV 3 $1,235,000 $411,667
NEW HAVEN-MILFORD, CT 5 $1,175,000 $235,000
WENATCHEE, WA 4 $1,140,000 $285,000
DAYTON-KETTERING, OH 6 $1,110,000 $185,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 6 $1,100,000 $183,333
CAPE CORAL-FORT MYERS, FL 6 $1,080,000 $180,000
TUCSON, AZ 5 $1,075,000 $215,000
WARNER ROBINS, GA 4 $1,060,000 $265,000
EL PASO, TX 7 $1,045,000 $149,286
ATLANTIC CITY-HAMMONTON, NJ 4 $1,020,000 $255,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 5 $1,015,000 $203,000
HOMOSASSA SPRINGS, FL 7 $995,000 $142,143
BOSTON, MA 3 $945,000 $315,000
ST. GEORGE, UT 1 $925,000 $925,000
ST. LOUIS, MO-IL 5 $925,000 $185,000
LYNCHBURG, VA 7 $915,000 $130,714
PRESCOTT VALLEY-PRESCOTT, AZ 5 $905,000 $181,000
BROWNSVILLE-HARLINGEN, TX 4 $900,000 $225,000
WORCESTER, MA-CT 3 $895,000 $298,333
ANCHORAGE, AK 3 $885,000 $295,000
RICHMOND, VA 4 $830,000 $207,500
ELGIN, IL 4 $820,000 $205,000
KENNEWICK-RICHLAND, WA 3 $815,000 $271,667
PORT ST. LUCIE, FL 4 $800,000 $200,000
MEMPHIS, TN-MS-AR 3 $795,000 $265,000
PHILADELPHIA, PA 6 $760,000 $126,667
GREELEY, CO 3 $745,000 $248,333
OKLAHOMA CITY, OK 4 $740,000 $185,000
NAPA, CA 3 $725,000 $241,667
BLOOMSBURG-BERWICK, PA 6 $710,000 $118,333
FAYETTEVILLE, NC 3 $695,000 $231,667
MADERA, CA 3 $695,000 $231,667
YUBA CITY, CA 3 $685,000 $228,333
AUGUSTA-RICHMOND COUNTY, GA-SC 4 $680,000 $170,000
ROANOKE, VA 5 $675,000 $135,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 1 $655,000 $655,000
BELLINGHAM, WA 2 $640,000 $320,000
PENSACOLA-FERRY PASS-BRENT, FL 3 $635,000 $211,667
ANN ARBOR, MI 3 $635,000 $211,667
MANCHESTER-NASHUA, NH 2 $630,000 $315,000
AMARILLO, TX 3 $615,000 $205,000
EL CENTRO, CA 3 $605,000 $201,667
READING, PA 3 $595,000 $198,333
FORT COLLINS, CO 2 $580,000 $290,000
TYLER, TX 2 $580,000 $290,000
HAMMOND, LA 3 $575,000 $191,667
PUEBLO, CO 2 $570,000 $285,000
LAREDO, TX 3 $535,000 $178,333
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 6 $510,000 $85,000
SAVANNAH, GA 2 $490,000 $245,000
DOTHAN, AL 2 $460,000 $230,000
AUBURN-OPELIKA, AL 2 $460,000 $230,000
DOVER, DE 2 $440,000 $220,000
FAIRBANKS, AK 1 $425,000 $425,000
LAKE HAVASU CITY-KINGMAN, AZ 3 $425,000 $141,667
MCALLEN-EDINBURG-MISSION, TX 3 $415,000 $138,333
WINCHESTER, VA-WV 2 $410,000 $205,000
SPRINGFIELD, MA 2 $410,000 $205,000
LUBBOCK, TX 2 $400,000 $200,000
SEBRING-AVON PARK, FL 3 $395,000 $131,667
TUSCALOOSA, AL 2 $390,000 $195,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 3 $385,000 $128,333
JOPLIN, MO 2 $380,000 $190,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 1 $375,000 $375,000
CARSON CITY, NV 2 $370,000 $185,000
BARNSTABLE TOWN, MA 2 $350,000 $175,000
CHAMBERSBURG-WAYNESBORO, PA 2 $350,000 $175,000
JACKSON, MI 3 $345,000 $115,000
DAPHNE-FAIRHOPE-FOLEY, AL 2 $340,000 $170,000
LIMA, OH 2 $340,000 $170,000
SCRANTON--WILKES-BARRE, PA 2 $340,000 $170,000
PITTSBURGH, PA 2 $330,000 $165,000
GARY, IN 2 $320,000 $160,000
SEBASTIAN-VERO BEACH, FL 1 $315,000 $315,000
RALEIGH-CARY, NC 2 $310,000 $155,000
TOLEDO, OH 1 $305,000 $305,000
MOUNT VERNON-ANACORTES, WA 1 $295,000 $295,000
MOBILE, AL 3 $285,000 $95,000
SHERMAN-DENISON, TX 1 $285,000 $285,000
ANNISTON-OXFORD, AL 3 $285,000 $95,000
WILMINGTON, DE-MD-NJ 1 $285,000 $285,000
CHARLOTTESVILLE, VA 2 $280,000 $140,000
MONROE, LA 2 $280,000 $140,000
MANSFIELD, OH 3 $275,000 $91,667
AKRON, OH 3 $265,000 $88,333
BILLINGS, MT 1 $255,000 $255,000
SALISBURY, MD-DE 2 $250,000 $125,000
HUNTSVILLE, AL 1 $245,000 $245,000
PANAMA CITY, FL 2 $240,000 $120,000
CANTON-MASSILLON, OH 2 $240,000 $120,000
GRANTS PASS, OR 1 $235,000 $235,000
FLORENCE-MUSCLE SHOALS, AL 2 $230,000 $115,000
BEAUMONT-PORT ARTHUR, TX 1 $225,000 $225,000
CALIFORNIA-LEXINGTON PARK, MD 1 $225,000 $225,000
OGDEN-CLEARFIELD, UT 1 $225,000 $225,000
NORWICH-NEW LONDON, CT 1 $205,000 $205,000
ATHENS-CLARKE COUNTY, GA 2 $200,000 $100,000
ROCKFORD, IL 1 $185,000 $185,000
CHATTANOOGA, TN-GA 1 $185,000 $185,000
OCEAN CITY, NJ 1 $185,000 $185,000
KILLEEN-TEMPLE, TX 1 $185,000 $185,000
NEW BERN, NC 1 $175,000 $175,000
GAINESVILLE, FL 1 $175,000 $175,000
MIDLAND, MI 1 $175,000 $175,000
ROCHESTER, MN 1 $165,000 $165,000
CORPUS CHRISTI, TX 1 $165,000 $165,000
VINELAND-BRIDGETON, NJ 1 $155,000 $155,000
MACON-BIBB COUNTY, GA 1 $145,000 $145,000
KALAMAZOO-PORTAGE, MI 1 $135,000 $135,000
CLEVELAND, TN 1 $125,000 $125,000
BLACKSBURG-CHRISTIANSBURG, VA 1 $125,000 $125,000
DECATUR, AL 1 $125,000 $125,000
SUMTER, SC 1 $125,000 $125,000
YUMA, AZ 1 $125,000 $125,000
MILWAUKEE-WAUKESHA, WI 1 $125,000 $125,000
HINESVILLE, GA 1 $125,000 $125,000
SPRINGFIELD, MO 1 $115,000 $115,000
WHEELING, WV-OH 1 $115,000 $115,000
SIERRA VISTA-DOUGLAS, AZ 1 $105,000 $105,000
MONTGOMERY, AL 1 $105,000 $105,000
BAY CITY, MI 1 $95,000 $95,000
GREENSBORO-HIGH POINT, NC 1 $95,000 $95,000
GADSDEN, AL 1 $75,000 $75,000
THE VILLAGES, FL 1 $75,000 $75,000
EAST STROUDSBURG, PA 1 $75,000 $75,000

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
2.5-3% 64 $19,740,000 $308,438
3-4% 2,869 $977,215,000 $340,612
4-5% 2,491 $756,815,000 $303,820
5-6% 573 $176,915,000 $308,752
6-7% 119 $55,885,000 $469,622
7-8% 98 $31,000,000 $316,327
Over 8% 26 $8,520,000 $327,692

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 259 $19,935,000 $76,969
$100k-200k 1,450 $223,970,000 $154,462
$200k-400k 2,825 $825,625,000 $292,257
$400k-600k 1,275 $600,835,000 $471,243
$600k-1000k 360 $254,460,000 $706,833
$Over $1MM 71 $101,265,000 $1,426,268

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% 172 $39,820,000 $231,512
40-60% 525 $164,155,000 $312,676
60-80% 1,696 $640,720,000 $377,783
80-100% 3,598 $1,100,680,000 $305,914
Over 100% 211 $71,325,000 $338,033
Under 20% 12 $2,240,000 $186,667

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 1,239 $484,345,000 $390,916
$150k-250k 660 $305,040,000 $462,182
$50k-75k 1,444 $343,210,000 $237,680
$50k-or less 1,398 $306,010,000 $218,891
$75k-100k 1,119 $351,625,000 $314,231
$Over $250k 322 $218,930,000 $679,907

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 4,780 $1,546,100,000 $323,452
Not provided 530 $188,640,000 $355,925
Black 622 $166,720,000 $268,039
Asian 257 $105,675,000 $411,187
Native Hawaiian 31 $12,635,000 $407,581
American Indian 19 $6,005,000 $316,053
Japanese 1 $315,000 $315,000

Approval Rates

Total approvals of all applications
91.47%

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
64.13%

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
NA 6,240 $2,026,090,000 $324,694

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,183 $586,525,000 $268,678
$1k-2k 1,543 $522,665,000 $338,733
$2k-3k 685 $194,715,000 $284,255
$3k-4k 788 $235,820,000 $299,264
$5k+ 995 $472,625,000 $475,000

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 169 $33,825,000 $200,148
Single Family (1-4 Units):Site-Built 6,071 $1,992,265,000 $328,161