Dundee Bank Mortgage Rates, Fees & Info

Omaha, NE

LEI: 549300QRH7IX8IMYTC57

Tax ID: 47-0294050

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Dundee Bank is a smaller bank specializing in Home Purchase and Refi loans. Dundee Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Omaha, Phoenix, Lincoln, Fremont, and Kearney among others. Dundee Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Dundee Bank is typically a low fee lendor.


Originations

934

Origination Dollar Volume (All Markets)

$232,960,000

Employee count

62

Awards

Dundee Bank 30 Year Conventional Loans silver Dundee Bank FHA Loans silver
Show all (2) awards

Relative Rate

Dundee Bank's average 30 year fixed rate mortgage of loans were 3.14%.

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

This yields a difference of -0.01%.

Relative Fees

Dundee Bank's average total fees for a 30 year fixed rate mortgage are $2,939.

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 878 $219,800,000 $250,342 $2,670 3.18%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $3,160,000 $395,000 $4,309 3.05%
LINCOLN, NE (FHA|USDA|VA) 13 $2,625,000 $201,923 $3,042 3.20%
Outside of Metro Areas 12 $2,470,000 $205,833 $2,350 3.01%
Fremont, NE (FHA|USDA|VA) 5 $795,000 $159,000 $3,494 3.60%
Kearney, NE (FHA|USDA|VA) 2 $700,000 $350,000 $1,891 2.63%
Beatrice, NE (FHA|USDA|VA) 1 $355,000 $355,000 $2,395 3.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $345,000 $345,000 $1,589 3.25%
TUCSON, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $3,160 3.38%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $305,000 $305,000 $2,889 3.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $295,000 $295,000 $4,643 3.38%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,642 3.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,054 2.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.00%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.63%
Maryville, MO (FHA|USDA|VA) 1 $155,000 $155,000 $4,409 2.50%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $155,000 $155,000 $2,483 3.25%
Lexington, NE (FHA|USDA|VA) 1 $145,000 $145,000 $4,607 3.50%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.00%
Columbus, NE (FHA|USDA|VA) 1 $125,000 $125,000 $1,831 2.13%
Farmington, MO (FHA|USDA|VA) 1 $115,000 $115,000 $1,539 2.13%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,170 2.50%

Dundee Bank's top markets include Omaha, Phoenix, Lincoln, Fremont, and Kearney among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 870 $219,540,000 $252,345 $2,377 3.20%
FHA 64 $13,420,000 $209,688 $6,062 2.90%

For the 2021 period, Dundee Bank's most frequently originated loan type of loans were Conventional, with 870 originations. Their 2nd most popular type is FHA, with 64 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 485 $115,665,000 $238,485 $3,037 3.20%
Refi 305 $85,495,000 $280,311 $2,289 3.18%
Cash Out Refi 142 $31,350,000 $220,775 $2,315 3.10%
Home Improvement 2 $450,000 $225,000 $0 4.00%

For the 2021, Dundee Bank's most frequently cited loan purpose of loans were Home Purchase, with 485 originations. The 2nd most popular reason of loans were Refi, with 305 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 604 $144,010,000 $238,427 $2,939 3.14%
15 Year 144 $27,760,000 $192,778 $2,025 2.62%
20 Year 85 $14,615,000 $171,941 $2,185 3.76%
5 Year 61 $18,895,000 $309,754 $0 4.14%
Other 20 $24,710,000 $1,235,500 $1,340 3.74%
10 Year 15 $945,000 $63,000 $481 1.89%
1 Year 5 $2,025,000 $405,000 $0 4.15%

For the 2021, Dundee Bank's most frequently cited loan length of loans were 30 Year, with 604 originations. The 2nd most popular length of loans were 15 Year, with 144 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 636 $142,920,000 $224,717
$1k-2k 90 $23,080,000 $256,444
$2k-3k 19 $6,085,000 $320,263
$3k-4k 7 $2,505,000 $357,857

$2,939 of loans were Dundee Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 636 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 455 $127,015,000 $279,154
2.5-3% 275 $64,205,000 $233,473
<2.5% 115 $21,655,000 $188,304
4-5% 89 $20,085,000 $225,674

During 2021, Dundee Bank's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 3-4%, with 455 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 394 $105,600,000 $268,020 $3,074 3.15%
$100k-200k 358 $54,270,000 $151,592 $2,370 3.14%
$100,000 or less 101 $6,915,000 $68,465 $1,289 3.41%
$400k-600k 63 $29,905,000 $474,683 $2,774 3.04%
$1MM+ 10 $30,330,000 $3,033,000 $0 4.02%
$600k-1MM 8 $5,940,000 $742,500 $3,891 3.78%

2021 saw Dundee Bank place emphasis on $200k-400k loans with 394 originations, totaling $105,600,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 192 $46,310,000 $241,198 $2,630 3.07%
$50k-75k 166 $30,810,000 $185,602 $2,829 2.99%
$75k-100k 160 $33,740,000 $210,875 $2,844 3.04%
$150k-250k 129 $36,245,000 $280,969 $2,499 2.99%
$50k or less 87 $12,335,000 $141,782 $2,653 2.92%
$250k+ 67 $22,145,000 $330,522 $2,477 3.16%

Dundee Bank lent most frequently to those with incomes in the $100k-150k range, with 192 originations. The second most popular income band? $50k-75k, with 166 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 231 $51,775,000 $224,134 $2,373 3.03%
30-36% 135 $31,295,000 $231,815 $2,737 3.04%
<20% 106 $23,080,000 $217,736 $2,069 2.86%
42% 30 $6,880,000 $229,333 $2,816 3.07%
44% 29 $5,795,000 $199,828 $2,838 2.90%
41% 29 $6,895,000 $237,759 $2,833 2.92%
37% 26 $6,570,000 $252,692 $2,654 3.20%
38% 26 $6,100,000 $234,615 $2,333 3.10%
36% 24 $4,630,000 $192,917 $2,677 3.04%
39% 23 $5,075,000 $220,652 $3,257 3.15%
43% 21 $4,705,000 $224,048 $3,673 3.11%
50-60% 21 $4,585,000 $218,333 $6,103 3.02%
40% 19 $3,565,000 $187,632 $2,225 2.99%
48% 17 $4,615,000 $271,471 $3,311 3.10%
47% 17 $3,835,000 $225,588 $3,335 3.07%
49% 16 $4,410,000 $275,625 $3,498 3.15%
45% 15 $3,715,000 $247,667 $2,753 3.08%
46% 13 $3,435,000 $264,231 $2,369 2.95%
>60% 3 $625,000 $208,333 $1,809 4.08%

Dundee Bank lent most frequently to those with DTI ratios of 20-30%, with 231 originations. The next most common DTI ratio? 30-36%, with 135 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 684 $156,750,000 $229,167 $2,649 3.03%
Not applicable 130 $49,870,000 $383,615 $0 4.13%
Not provided 61 $12,505,000 $205,000 $2,655 2.96%
Asian 40 $9,490,000 $237,250 $3,130 3.02%
Black 15 $2,935,000 $195,667 $3,556 3.22%
Native Hawaiian 1 $965,000 $965,000 $0 3.95%
Filipino 1 $265,000 $265,000 $7,185 2.75%
Other Asian 2 $180,000 $90,000 $2,754 2.00%

Approval Rates

Total approvals of all applications
95.87%

Dundee 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 origination
88.74%

Dundee Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 934 $232,960,000 $249,422

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
934 $232,960,000 $249,422

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 43 $6,905,000 $160,581 $1,888 3.10%
40-60% 119 $35,995,000 $302,479 $1,977 3.00%
60-80% 388 $97,780,000 $252,010 $2,296 3.29%
80-100% 370 $89,390,000 $241,595 $3,365 3.17%
Under 20% 14 $2,890,000 $206,429 $180 2.09%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Dundee Bank 5015 Underwood Avenue Omaha, NE 68132 Full Service B&M $261,363
Dundee Bank 302 South 38th Street Omaha, NE 68131 Full Service B&M $111,420

For 2021, Dundee Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,332
Net interest income $18,254
Total noninterest income $8,793
Gross Fiduciary activities income $0
Service charges on deposit accounts $168
Trading account gains and fees $0
Additional Noninterest Income $8,625
Pre-tax net operating income $12,388
Securities gains (or losses, -) $4
Income before extraordinary items $12,224
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,224
Minority interest net income $0
Net income $12,224
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,220

Dundee Bank's gross interest income from loans was $20,332,000.
Dundee Bank's net interest income from loans was $18,254,000.
Dundee Bank's fee based income from loans was $168,000.
Dundee Bank's net income from loans was $12,224,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,078
Provision for credit losses $1,700
Total noninterest expense $12,959
Salaries and employee benefits $8,157
Premises and equipment expense $986
Additional noninterest expense $3,816
Applicable income taxes $168
Net charge-offs $299
Cash dividends $6,275

Dundee Bank's interest expense for loans was $2,078,000.
Dundee Bank's payroll and benefits expense were $8,157,000.
Dundee Bank's property, plant and equipment expenses $986,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $406,720
Deposits held in domestic offices $406,720
Deposits by Individuals, partnerships, and corporations $333,244
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $9,516
Deposits by Commercial banks and other depository institutions in U.S. $63,960
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $126,761
Demand deposits $124,471
Nontransaction accounts $279,959
Money market deposit accounts (MMDAs) $109,991
Other savings deposits (excluding MMDAs) $17,057
Total time deposits $152,911
Total time and savings deposits $282,249
Noninterest-bearing deposits $99,429
Interest-bearing deposits $307,291
Retail deposits $358,454
IRAs and Keogh plan accounts $6,091
Brokered deposits $29,652
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $479,987
Cash & Balances due from depository institutions $4,376
Interest-bearing balances $3,533
Total securities $37,424
Federal funds sold & reverse repurchase $5
Net loans and leases $417,701
Loan and leases loss allowance $5,938
Trading account assets $0
Bank premises and fixed assets $10,531
Other real estate owned $0
Goodwill and other intangibles $3,720
All other assets $6,230

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $479,987
Total Liabilities $433,747
Total deposits $406,720
Interest-bearing deposits $307,291
Deposits held in domestic offices $406,720
% insured (estimated) $79
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $26,553
Subordinated debt $0
All other liabilities $474

Issued Loan Types

Type Value (in 000's)
Net loans and leases $417,701
Loan and leases loss allowance $5,938
Total loans and leases (domestic) $423,639
All real estate loans $349,482
Real estate loans in domestic offices $349,482
Construction and development loans $37,314
Residential 1-4 family construction $6,851
Other construction, all land development and other land $30,463
Loans secured by nonfarm nonresidential properties $162,846
Nonfarm nonresidential secured by owner-occupied properties $70,002
Commercial real estate & other non-farm, non-residential $92,844
Multifamily residential real estate $42,176
1-4 family residential loans $96,477
Farmland loans $10,669
Loans held in foreign offices $0
Farm loans $2,529
Commercial and industrial loans $70,912
To non-U.S. addressees $0
Loans to individuals $312
Credit card loans $0
Related Plans $0
Consumer Auto Loans $125
Other loans to individuals $187
All other loans & leases $405
Loans to foreign governments and official institutions $0
Other loans $5
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $625
Non 1-4 family restructured loans & leases $246
Total loans and leases (foreign) $0

Dundee Bank had $417,701,000 of loans outstanding in 2021. $349,482,000 of loans were in real estate loans. $37,314,000 of loans were in development loans. $42,176,000 of loans were in multifamily mortgage loans. $96,477,000 of loans were in 1-4 family mortgage loans. $2,529,000 of loans were in farm loans. $0 of loans were in credit card loans. $125,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 85 $27,638 $325,153
Nonfarm, nonresidential loans - <$100k 7 $382 $54,571
Nonfarm, nonresidential loans - $100-250k 23 $3,391 $147,435
Nonfarm, nonresidential loans - $250k-1MM 55 $23,865 $433,909
Commercial & Industrial, US addressed loans - <$1MM 183 $24,550 $134,153
Commercial & Industrial, US addressed loans - <$100k 91 $2,338 $25,692
Commercial & Industrial, US addressed loans - $100-250k 42 $5,346 $127,286
Commercial & Industrial, US addressed loans - $250k-1MM 50 $16,866 $337,320
Farmland loans - <$1MM 7 $1,637 $233,857
Farmland loans - $100-250k 2 $386 $193,000
Farmland loans - $250k-1MM 5 $1,251 $250,200
Agriculture operations loans - <$1MM 2 $64 $32,000
Agriculture operations loans - $100-250k 2 $64 $32,000