Lendus Llc Dba Rpm Mortgage

ALAMO, CA 94507

LEI: 549300QU7HWSPH011Y56

Tax ID: 02-0486480

2019 Data | 2018 Data


Overview

Lendus Llc Dba Rpm Mortgage is a small mortgage company specializing in Home Purchase and Refi loans. Lendus Llc Dba Rpm Mortgage 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 Oakland, Los Angeles, Atlanta, Seattle, 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. Lendus Llc Dba Rpm Mortgage is typically a medium-low fee lendor.


Originations

10,983

Origination Dollar Volume (All Markets)

$3,519,395,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,213 $2,675,355,000 $370,907
FHA 2,608 $510,840,000 $195,874
VA 883 $293,705,000 $332,622
USDA 279 $39,495,000 $141,559

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 7,990 $2,275,180,000 $284,753
Home Improvement 65 $22,315,000 $343,308
Refi 1,780 $800,220,000 $449,562
Cash Out Refi 1,148 $421,680,000 $367,317

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
OAKLAND-BERKELEY-LIVERMORE, CA 980 $587,940,000 $599,939
LOS ANGELES-LONG BEACH-GLENDALE, CA 612 $358,280,000 $585,425
Outside of Metro Areas 993 $225,865,000 $227,457
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,137 $202,195,000 $177,832
SEATTLE-BELLEVUE-KENT, WA 446 $195,680,000 $438,744
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 347 $182,475,000 $525,865
ANAHEIM-SANTA ANA-IRVINE, CA 295 $169,515,000 $574,627
COLUMBUS, OH 1,002 $165,530,000 $165,200
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 279 $91,305,000 $327,258
SACRAMENTO-ROSEVILLE-FOLSOM, CA 232 $89,490,000 $385,733
COLUMBIA, SC 467 $84,435,000 $180,803
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 95 $82,525,000 $868,684
CLEVELAND-ELYRIA, OH 558 $71,920,000 $128,889
TACOMA-LAKEWOOD, WA 181 $67,345,000 $372,072
SANTA MARIA-SANTA BARBARA, CA 125 $61,865,000 $494,920
TAMPA-ST. PETERSBURG-CLEARWATER, FL 265 $55,375,000 $208,962
GREENVILLE-ANDERSON, SC 300 $55,230,000 $184,100
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 64 $45,170,000 $705,781
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 118 $44,870,000 $380,254
SALINAS, CA 83 $44,155,000 $531,988
VALLEJO, CA 96 $36,900,000 $384,375
DENVER-AURORA-LAKEWOOD, CO 81 $33,235,000 $410,309
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 99 $32,135,000 $324,596
SAN LUIS OBISPO-PASO ROBLES, CA 63 $29,955,000 $475,476
CHARLOTTE-CONCORD-GASTONIA, NC-SC 111 $24,705,000 $222,568
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 59 $22,295,000 $377,881
SPARTANBURG, SC 138 $22,080,000 $160,000
MISSOULA, MT 75 $21,295,000 $283,933
SAN RAFAEL, CA 29 $19,905,000 $686,379
BILLINGS, MT 78 $18,890,000 $242,179
CAPE CORAL-FORT MYERS, FL 116 $18,610,000 $160,431
PHILADELPHIA, PA 80 $18,290,000 $228,625
EL PASO, TX 98 $16,550,000 $168,878
SANTA ROSA-PETALUMA, CA 29 $16,505,000 $569,138
BREMERTON-SILVERDALE-PORT ORCHARD, WA 45 $14,825,000 $329,444
PHOENIX-MESA-CHANDLER, AZ 47 $14,345,000 $305,213
CHARLESTON-NORTH CHARLESTON, SC 55 $13,375,000 $243,182
OXNARD-THOUSAND OAKS-VENTURA, CA 26 $12,300,000 $473,077
SANTA CRUZ-WATSONVILLE, CA 18 $9,590,000 $532,778
FLORENCE, SC 62 $9,540,000 $153,871
NAPLES-MARCO ISLAND, FL 36 $9,440,000 $262,222
STOCKTON, CA 27 $8,795,000 $325,741
NORTH PORT-SARASOTA-BRADENTON, FL 36 $8,750,000 $243,056
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 30 $7,860,000 $262,000
WILMINGTON, DE-MD-NJ 26 $7,440,000 $286,154
ORLANDO-KISSIMMEE-SANFORD, FL 30 $7,110,000 $237,000
MANSFIELD, OH 59 $6,925,000 $117,373
BOULDER, CO 19 $6,895,000 $362,895
RENO, NV 18 $6,290,000 $349,444
BAKERSFIELD, CA 23 $6,135,000 $266,739
JACKSONVILLE, FL 31 $6,025,000 $194,355
MIAMI-MIAMI BEACH-KENDALL, FL 26 $6,010,000 $231,154
DOVER, DE 25 $5,295,000 $211,800
GAINESVILLE, GA 23 $5,165,000 $224,565
SUMTER, SC 27 $5,095,000 $188,704
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 14 $5,080,000 $362,857
LAS VEGAS-HENDERSON-PARADISE, NV 16 $5,050,000 $315,625
DAPHNE-FAIRHOPE-FOLEY, AL 34 $4,850,000 $142,647
URBAN HONOLULU, HI 8 $4,820,000 $602,500
NAPA, CA 11 $4,505,000 $409,545
CINCINNATI, OH-KY-IN 31 $4,385,000 $141,452
BEND, OR 12 $4,240,000 $353,333
OLYMPIA-LACEY-TUMWATER, WA 13 $3,815,000 $293,462
DALLAS-PLANO-IRVING, TX 11 $3,455,000 $314,091
AUGUSTA-RICHMOND COUNTY, GA-SC 26 $3,380,000 $130,000
BELLINGHAM, WA 8 $3,350,000 $418,750
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 8 $3,300,000 $412,500
ASHEVILLE, NC 8 $2,830,000 $353,750
YUBA CITY, CA 9 $2,815,000 $312,778
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 13 $2,605,000 $200,385
SAVANNAH, GA 24 $2,470,000 $102,917
AKRON, OH 15 $2,425,000 $161,667
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 10 $2,180,000 $218,000
BOSTON, MA 6 $2,020,000 $336,667
TOLEDO, OH 10 $1,890,000 $189,000
FRESNO, CA 5 $1,875,000 $375,000
ROME, GA 13 $1,855,000 $142,692
KAHULUI-WAILUKU-LAHAINA, HI 3 $1,735,000 $578,333
SPOKANE-SPOKANE VALLEY, WA 4 $1,680,000 $420,000
LAKELAND-WINTER HAVEN, FL 8 $1,620,000 $202,500
FORT COLLINS, CO 5 $1,545,000 $309,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 5 $1,525,000 $305,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 5 $1,465,000 $293,000
MOBILE, AL 13 $1,355,000 $104,231
MANCHESTER-NASHUA, NH 4 $1,340,000 $335,000
MODESTO, CA 4 $1,320,000 $330,000
HOMOSASSA SPRINGS, FL 7 $1,305,000 $186,429
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 5 $1,245,000 $249,000
VISALIA, CA 5 $1,225,000 $245,000
PORT ST. LUCIE, FL 6 $1,180,000 $196,667
PORTLAND-SOUTH PORTLAND, ME 5 $1,175,000 $235,000
WENATCHEE, WA 4 $1,140,000 $285,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 4 $1,080,000 $270,000
FAYETTEVILLE, NC 6 $1,040,000 $173,333
BOISE CITY, ID 4 $1,030,000 $257,500
CAMDEN, NJ 4 $1,010,000 $252,500
PALM BAY-MELBOURNE-TITUSVILLE, FL 3 $985,000 $328,333
COLORADO SPRINGS, CO 3 $955,000 $318,333
MERCED, CA 4 $910,000 $227,500
DAYTON-KETTERING, OH 7 $865,000 $123,571
CARSON CITY, NV 3 $775,000 $258,333
CHICO, CA 3 $755,000 $251,667
LAS CRUCES, NM 2 $730,000 $365,000
GREELEY, CO 3 $715,000 $238,333
SALEM, OR 3 $715,000 $238,333
COLUMBUS, GA-AL 7 $705,000 $100,714
EL CENTRO, CA 4 $670,000 $167,500
REDDING, CA 3 $665,000 $221,667
PUNTA GORDA, FL 5 $655,000 $131,000
MACON-BIBB COUNTY, GA 6 $640,000 $106,667
PRESCOTT VALLEY-PRESCOTT, AZ 2 $640,000 $320,000
WINSTON-SALEM, NC 3 $585,000 $195,000
BURLINGTON-SOUTH BURLINGTON, VT 2 $560,000 $280,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 3 $555,000 $185,000
GRAND JUNCTION, CO 2 $540,000 $270,000
MOUNT VERNON-ANACORTES, WA 2 $530,000 $265,000
MONTGOMERY, AL 2 $490,000 $245,000
HANFORD-CORCORAN, CA 2 $490,000 $245,000
PROVIDENCE-WARWICK, RI-MA 1 $485,000 $485,000
DETROIT-DEARBORN-LIVONIA, MI 1 $485,000 $485,000
READING, PA 2 $480,000 $240,000
YAKIMA, WA 1 $475,000 $475,000
OCEAN CITY, NJ 1 $445,000 $445,000
MORRISTOWN, TN 2 $430,000 $215,000
TUCSON, AZ 2 $420,000 $210,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 5 $415,000 $83,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 1 $405,000 $405,000
KNOXVILLE, TN 1 $405,000 $405,000
DALTON, GA 4 $400,000 $100,000
SALISBURY, MD-DE 2 $400,000 $200,000
SPRINGFIELD, OH 3 $395,000 $131,667
WORCESTER, MA-CT 1 $385,000 $385,000
RALEIGH-CARY, NC 1 $375,000 $375,000
VALDOSTA, GA 2 $360,000 $180,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 2 $360,000 $180,000
CORVALLIS, OR 1 $355,000 $355,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $345,000 $345,000
ALBANY-LEBANON, OR 1 $345,000 $345,000
MEDFORD, OR 1 $335,000 $335,000
ELKHART-GOSHEN, IN 1 $315,000 $315,000
SEBRING-AVON PARK, FL 3 $315,000 $105,000
WARNER ROBINS, GA 2 $310,000 $155,000
HINESVILLE, GA 1 $295,000 $295,000
CANTON-MASSILLON, OH 3 $295,000 $98,333
BALTIMORE-COLUMBIA-TOWSON, MD 1 $275,000 $275,000
GAINESVILLE, FL 2 $270,000 $135,000
BIRMINGHAM-HOOVER, AL 1 $265,000 $265,000
PUEBLO, CO 1 $265,000 $265,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $255,000 $255,000
RICHMOND, VA 1 $255,000 $255,000
GREENSBORO-HIGH POINT, NC 1 $255,000 $255,000
GREAT FALLS, MT 1 $245,000 $245,000
SPRINGFIELD, MA 1 $235,000 $235,000
CHICAGO-NAPERVILLE-EVANSTON, IL 1 $215,000 $215,000
NEW BRUNSWICK-LAKEWOOD, NJ 1 $215,000 $215,000
CHATTANOOGA, TN-GA 2 $210,000 $105,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $205,000 $205,000
PANAMA CITY, FL 1 $195,000 $195,000
EUGENE-SPRINGFIELD, OR 1 $185,000 $185,000
HILTON HEAD ISLAND-BLUFFTON, SC 1 $185,000 $185,000
NEWARK, NJ-PA 1 $175,000 $175,000
FLAGSTAFF, AZ 1 $175,000 $175,000
HICKORY-LENOIR-MORGANTON, NC 1 $175,000 $175,000
LANSING-EAST LANSING, MI 1 $175,000 $175,000
WACO, TX 1 $165,000 $165,000
MUNCIE, IN 1 $165,000 $165,000
WILMINGTON, NC 1 $165,000 $165,000
MADERA, CA 1 $155,000 $155,000
ROCKY MOUNT, NC 1 $155,000 $155,000
SHERMAN-DENISON, TX 1 $155,000 $155,000
KINGSPORT-BRISTOL, TN-VA 2 $150,000 $75,000
BRUNSWICK, GA 1 $145,000 $145,000
ALBUQUERQUE, NM 1 $125,000 $125,000
LEXINGTON-FAYETTE, KY 1 $125,000 $125,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 1 $115,000 $115,000
TUSCALOOSA, AL 1 $115,000 $115,000
EVANSVILLE, IN-KY 1 $75,000 $75,000
SOUTH BEND-MISHAWAKA, IN-MI 1 $65,000 $65,000

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% 207 $2,435,000 $11,763
2.5-3% 23 $10,405,000 $452,391
3-4% 3,489 $1,325,095,000 $379,792
4-5% 5,733 $1,804,855,000 $314,819
5-6% 1,378 $342,480,000 $248,534
6-7% 44 $22,390,000 $508,864
7-8% 105 $8,145,000 $77,571
Over 8% 4 $3,590,000 $897,500

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,146 $65,660,000 $57,295
$100k-200k 3,104 $466,570,000 $150,313
$200k-400k 3,626 $1,050,380,000 $289,680
$400k-600k 1,948 $935,790,000 $480,385
$600k-1000k 890 $645,640,000 $725,438
$Over $1MM 269 $355,355,000 $1,321,022

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% 354 $113,730,000 $321,271
40-60% 984 $391,230,000 $397,591
60-80% 2,760 $1,195,450,000 $433,134
80-100% 6,292 $1,736,350,000 $275,962
Over 100% 212 $70,120,000 $330,755
Under 20% 381 $12,515,000 $32,848

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 2,022 $750,560,000 $371,197
$150k-250k 1,669 $827,225,000 $495,641
$50k-75k 2,435 $461,465,000 $189,513
$50k-or less 2,070 $253,970,000 $122,691
$75k-100k 1,611 $449,785,000 $279,196
$Over $250k 948 $689,120,000 $726,920

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,177 $2,196,445,000 $306,039
Not provided 1,910 $831,050,000 $435,105
Black 1,399 $267,175,000 $190,976
Asian 325 $151,355,000 $465,708
American Indian 64 $20,670,000 $322,969
Asian Indian 28 $13,180,000 $470,714
Chinese 19 $11,225,000 $590,789
Filipino 20 $10,190,000 $509,500
Other Asian 16 $8,960,000 $560,000
Korean 6 $2,890,000 $481,667
Japanese 4 $2,270,000 $567,500
Vietnamese 6 $2,060,000 $343,333
Native Hawaiian 7 $1,745,000 $249,286
Not applicable 1 $135,000 $135,000
Other Pacific Islander 1 $45,000 $45,000

Approval Rates

Total approvals of all applications
95.58%

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
66.23%

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 5 $75,000 $15,000
120.0 1 $5,000 $5,000
NA 10,977 $3,519,315,000 $320,608

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 748 $121,690,000 $162,687
$1k-2k 6,137 $1,965,985,000 $320,350
$2k-3k 1,818 $481,810,000 $265,022
$3k-4k 1,473 $503,445,000 $341,782
$5k+ 792 $440,060,000 $555,631

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 114 $16,080,000 $141,053
Single Family (1-4 Units):Site-Built 10,869 $3,503,315,000 $322,322