Bank Of Alma Mortgage Rates, Fees & Info
Nelson, WILEI: 549300QVY7F9778XM742
Tax ID: 39-1555315
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Mortgage Data
Review & Overview
Bank Of Alma is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of Alma has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, La Crosse, Minneapolis, Madison, and Eau Claire among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Alma has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
32Origination Dollar Volume (All Markets)
$5,160,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 23 | $2,365,000 | $102,826 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $0 | 0.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $5,160,000 | $161,250 | $0 | 0.00% |
For 2018, Bank Of Alma's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 17 | $2,375,000 | $139,706 | $0 | 0.00% |
| Refi | 11 | $895,000 | $81,364 | $0 | 0.00% |
| Cash Out Refi | 4 | $1,890,000 | $472,500 | $0 | 0.00% |
For 2018, Bank Of Alma's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $5,160,000 | $161,250 | $0 | 0.00% |
For 2018, Bank Of Alma's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2018 saw Bank Of Alma place emphasis on $100,000 or less loans with 20 originations, totaling $1,360,000 in origination value.
Applicant Income
Bank Of Alma lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $5,160,000 | $161,250 | $0 | 0.00% |
Bank Of Alma lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Bank Of Alma has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.38%
Bank Of Alma has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $5,160,000 | $161,250 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 32 | $5,160,000 | $161,250 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 3 | 11.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 5 | 18.5% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 2 | 7.4% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 4 | 14.8% |
| BANK OF THE WEST | FHA mortgage | Closing on a mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.7% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 2 | 7.4% |