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 Refi loans. Bank Of Alma has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Phoenix, Minneapolis, La Crosse, and Duluth among others. We have data for 8 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
35Origination Dollar Volume (All Markets)
$6,505,000Top 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 | 18 | $3,260,000 | $181,111 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 35 | $6,505,000 | $185,857 | $0 | 0.00% |
For 2019, Bank Of Alma's most frequently originated type of loan was Conventional, with 35 originations.
Loan Reason
For 2019, Bank Of Alma's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $6,505,000 | $185,857 | $0 | 0.00% |
For 2019, Bank Of Alma's most frequently cited loan duration was Other, with 35 originations.
Loan Sizing
2019 saw Bank Of Alma place emphasis on $100,000 or less loans with 14 originations, totaling $770,000 in origination value.
Applicant Income
Bank Of Alma lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $6,505,000 | $185,857 | $0 | 0.00% |
Bank Of Alma lent most frequently to those with DTI ratios of Exempt%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
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 origination85.71%
Bank Of Alma has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $6,505,000 | $185,857 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 14.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 42.9% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |