Prudential Multifamily Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300RDGRWJXEQOEC49

Tax ID: 54-1561741

2020 Data | 2019 Data | 2018 Data


Overview

Prudential Multifamily Mortgage is a mid-sized mortgage company specializing in Cash Out Refi and Home Purchase loans. Prudential Multifamily Mortgage has a high proportion of conventional loans. Their top markets include Atlanta, New York, San Francisco, San Jose, and Los Angeles among others. They have an above average approval rate for mortages when compared nationally -- and they have an average pick rate when compared to the same sample of other lendors.


Originations

251

Origination Dollar Volume (All Markets)

$5,653,875,000

Relative Rate

Prudential Multifamily Mortgage 's average 30 year fixed rate mortgage was 4.03%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of 0.67%.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 251 $5,653,875,000 $22,525,398 $0 2.88%

For the 2020 period, Prudential Multifamily Mortgage 's most frequently originated loan type was Conventional, with 251 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 155 $3,331,205,000 $21,491,645 $0 2.93%
Home Purchase 61 $1,524,815,000 $24,996,967 $0 2.75%
Refi 35 $797,855,000 $22,795,857 $0 2.90%

For the 2020, Prudential Multifamily Mortgage 's most frequently cited loan purpose was Cash Out Refi, with 155 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
10 Year 150 $3,691,940,000 $24,612,933 $0 2.82%
Other 88 $1,767,670,000 $20,087,159 $0 2.91%
15 Year 10 $182,350,000 $18,235,000 $0 3.19%
30 Year 3 $11,915,000 $3,971,667 $0 3.86%

For the 2020, Prudential Multifamily Mortgage 's most frequently cited loan length was 10 Year, with 150 originations. The 2nd most popular length was Other, with 88 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 11 $659,975,000 $59,997,727 $0 2.55%
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 36 $530,380,000 $14,732,778 $0 3.02%
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1 $481,875,000 $481,875,000 $0 2.66%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 7 $478,225,000 $68,317,857 $0 2.94%
LOS ANGELES-LONG BEACH-GLENDALE, CA 28 $429,010,000 $15,321,786 $0 2.92%
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 6 $337,480,000 $56,246,667 $0 2.64%
OAKLAND-BERKELEY-LIVERMORE, CA 7 $271,085,000 $38,726,429 $0 2.77%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 14 $240,620,000 $17,187,143 $0 2.39%
ANAHEIM-SANTA ANA-IRVINE, CA 6 $199,700,000 $33,283,333 $0 2.54%
DENVER-AURORA-LAKEWOOD, CO 5 $197,635,000 $39,527,000 $0 2.78%
CHICAGO-NAPERVILLE-EVANSTON, IL 3 $184,005,000 $61,335,000 $0 2.47%
DALLAS-PLANO-IRVING, TX 6 $117,480,000 $19,580,000 $0 3.46%
FORT WORTH-ARLINGTON-GRAPEVINE, TX 2 $115,010,000 $57,505,000 $0 2.90%
PHOENIX-MESA-CHANDLER, AZ 2 $90,760,000 $45,380,000 $0 3.30%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 5 $81,785,000 $16,357,000 $0 3.33%
BRIDGEPORT-STAMFORD-NORWALK, CT 15 $65,195,000 $4,346,333 $0 2.56%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 9 $53,825,000 $5,980,556 $0 2.98%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 2 $48,510,000 $24,255,000 $0 2.67%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 5 $45,905,000 $9,181,000 $0 2.88%
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 2 $45,400,000 $22,700,000 $0 2.82%
CINCINNATI, OH-KY-IN 3 $41,775,000 $13,925,000 $0 3.40%
SEATTLE-BELLEVUE-KENT, WA 3 $41,445,000 $13,815,000 $0 2.84%
HUNTSVILLE, AL 1 $40,955,000 $40,955,000 $0 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA 5 $40,905,000 $8,181,000 $0 2.78%
WINSTON-SALEM, NC 2 $40,880,000 $20,440,000 $0 2.36%
Outside of Metro Areas 7 $39,275,000 $5,610,714 $0 2.81%
MEMPHIS, TN-MS-AR 1 $38,855,000 $38,855,000 $0 3.59%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 2 $37,330,000 $18,665,000 $0 3.01%
ST. LOUIS, MO-IL 3 $36,285,000 $12,095,000 $0 3.02%
HARRISONBURG, VA 1 $35,705,000 $35,705,000 $0 3.90%
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 2 $35,630,000 $17,815,000 $0 2.92%
JACKSON, MS 1 $34,805,000 $34,805,000 $0 3.04%
ST. GEORGE, UT 2 $31,210,000 $15,605,000 $0 3.21%
CHATTANOOGA, TN-GA 1 $30,555,000 $30,555,000 $0 2.47%
TACOMA-LAKEWOOD, WA 2 $29,560,000 $14,780,000 $0 2.79%
SAVANNAH, GA 1 $28,235,000 $28,235,000 $0 2.57%
CLEVELAND-ELYRIA, OH 1 $22,965,000 $22,965,000 $0 3.23%
PRESCOTT VALLEY-PRESCOTT, AZ 1 $20,405,000 $20,405,000 $0 2.55%
CAMDEN, NJ 1 $20,355,000 $20,355,000 $0 2.70%
ROANOKE, VA 1 $18,955,000 $18,955,000 $0 3.60%
FAYETTEVILLE, NC 1 $18,315,000 $18,315,000 $0 2.75%
PORTLAND-SOUTH PORTLAND, ME 2 $18,180,000 $9,090,000 $0 2.83%
BROWNSVILLE-HARLINGEN, TX 2 $18,130,000 $9,065,000 $0 3.21%
BOULDER, CO 1 $16,805,000 $16,805,000 $0 2.98%
DES MOINES-WEST DES MOINES, IA 1 $16,255,000 $16,255,000 $0 3.13%
DUBUQUE, IA 1 $14,095,000 $14,095,000 $0 2.88%
WICHITA, KS 1 $14,005,000 $14,005,000 $0 2.75%
BALTIMORE-COLUMBIA-TOWSON, MD 1 $13,605,000 $13,605,000 $0 2.62%
PHILADELPHIA, PA 1 $12,765,000 $12,765,000 $0 2.55%
AMARILLO, TX 1 $12,005,000 $12,005,000 $0 2.76%
GREENVILLE-ANDERSON, SC 1 $11,525,000 $11,525,000 $0 2.36%
SANTA ROSA-PETALUMA, CA 2 $11,300,000 $5,650,000 $0 2.92%
SALT LAKE CITY, UT 1 $11,215,000 $11,215,000 $0 3.23%
CHARLESTON-NORTH CHARLESTON, SC 1 $11,005,000 $11,005,000 $0 3.01%
NORTH PORT-SARASOTA-BRADENTON, FL 1 $10,925,000 $10,925,000 $0 2.89%
CHICO, CA 2 $9,580,000 $4,790,000 $0 2.87%
GREENSBORO-HIGH POINT, NC 1 $9,505,000 $9,505,000 $0 2.36%
RICHMOND, VA 1 $9,255,000 $9,255,000 $0 3.73%
PITTSBURGH, PA 1 $7,815,000 $7,815,000 $0 2.69%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $7,365,000 $7,365,000 $0 3.04%
COLORADO SPRINGS, CO 1 $7,155,000 $7,155,000 $0 2.85%
SEBRING-AVON PARK, FL 1 $6,965,000 $6,965,000 $0 2.95%
ALBUQUERQUE, NM 1 $6,325,000 $6,325,000 $0 2.92%
EL CENTRO, CA 1 $6,305,000 $6,305,000 $0 2.75%
AUSTIN-ROUND ROCK-GEORGETOWN, TX 2 $6,130,000 $3,065,000 $0 4.37%
BAKERSFIELD, CA 1 $4,745,000 $4,745,000 $0 3.12%
MCALLEN-EDINBURG-MISSION, TX 1 $4,255,000 $4,255,000 $0 3.01%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 1 $4,155,000 $4,155,000 $0 3.01%
REDDING, CA 1 $3,785,000 $3,785,000 $0 2.63%
FRESNO, CA 1 $3,205,000 $3,205,000 $0 3.15%
RACINE, WI 1 $2,805,000 $2,805,000 $0 3.86%
MODESTO, CA 1 $2,545,000 $2,545,000 $0 2.70%
WORCESTER, MA-CT 1 $1,905,000 $1,905,000 $0 3.70%

Prudential Multifamily Mortgage 's top markets include Atlanta, New York, San Francisco, San Jose, and Los Angeles among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 132 $2,908,140,000 $22,031,364
3-4% 71 $1,181,935,000 $16,646,972
<2.5% 41 $1,517,705,000 $37,017,195
4-5% 7 $46,095,000 $6,585,000

During 2020, Prudential Multifamily Mortgage 's average interest rate was 4.03%, while their most frequently originated rate bucket was 2.5-3%, with 132 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 249 $5,652,335,000 $22,700,141 $0 2.88%
$600k-1MM 2 $1,540,000 $770,000 $0 2.13%

2020 saw Prudential Multifamily Mortgage place emphasis on $1MM+ loans with 249 originations, totaling $5,652,335,000 in origination value.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 251 $5,653,875,000 $22,525,398 $0 2.88%

Approval Rates

Total approvals of all applications
99.83%

Prudential Multifamily Mortgage 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
92.46%

Prudential Multifamily Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 251 $5,653,875,000 $22,525,398

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Site-Built 251 $5,653,875,000 $22,525,398

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 6 $159,240,000 $26,540,000 $0 2.93%
40-60% 63 $1,638,835,000 $26,013,254 $0 2.74%
60-80% 172 $3,818,460,000 $22,200,349 $0 2.89%
80-100% 1 $16,275,000 $16,275,000 $0 3.00%
Under 20% 9 $21,065,000 $2,340,556 $0 3.60%