Prudential Multifamily Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300RDGRWJXEQOEC49
Tax ID: 54-1561741
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Mortgage Data
Review & Overview
Prudential Multifamily Mortgage is a mid-sized mortgage company specializing in Cash Out Refi loans. Prudential Multifamily Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Francisco, San Diego, Dallas, and Washington among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Prudential Multifamily Mortgage 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
143Origination Dollar Volume (All Markets)
$3,376,385,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 17 | $926,635,000 | $54,507,941 | $0 | 4.04% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 8 | $235,280,000 | $29,410,000 | $0 | 4.53% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $235,255,000 | $235,255,000 | $0 | 3.95% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 11 | $185,705,000 | $16,882,273 | $0 | 4.44% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $183,135,000 | $10,772,647 | $0 | 4.12% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $149,865,000 | $49,955,000 | $0 | 4.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 5 | $116,805,000 | $23,361,000 | $0 | 4.57% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $115,955,000 | $38,651,667 | $0 | 4.18% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 4 | $113,180,000 | $28,295,000 | $0 | 4.52% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $109,210,000 | $27,302,500 | $0 | 4.74% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $89,785,000 | $29,928,333 | $0 | 4.37% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $74,910,000 | $18,727,500 | $0 | 4.11% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $68,035,000 | $22,678,333 | $0 | 4.41% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $46,765,000 | $15,588,333 | $0 | 4.74% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $46,120,000 | $23,060,000 | $0 | 4.59% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $42,650,000 | $21,325,000 | $0 | 4.82% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $42,110,000 | $21,055,000 | $0 | 4.56% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $37,555,000 | $37,555,000 | $0 | 4.41% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $34,280,000 | $17,140,000 | $0 | 4.69% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $30,620,000 | $15,310,000 | $0 | 4.54% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $28,355,000 | $28,355,000 | $0 | 4.92% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $28,350,000 | $14,175,000 | $0 | 5.19% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $27,410,000 | $13,705,000 | $0 | 4.92% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $27,330,000 | $13,665,000 | $0 | 4.57% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $25,375,000 | $25,375,000 | $0 | 5.16% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $25,250,000 | $12,625,000 | $0 | 4.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $24,325,000 | $8,108,333 | $0 | 5.11% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $19,765,000 | $19,765,000 | $0 | 4.56% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $19,205,000 | $19,205,000 | $0 | 4.86% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $17,250,000 | $8,625,000 | $0 | 4.72% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $17,205,000 | $17,205,000 | $0 | 4.78% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $16,315,000 | $16,315,000 | $0 | 4.36% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $16,185,000 | $16,185,000 | $0 | 3.70% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $16,005,000 | $16,005,000 | $0 | 5.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $15,665,000 | $15,665,000 | $0 | 4.90% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $14,645,000 | $14,645,000 | $0 | 4.92% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $11,145,000 | $11,145,000 | $0 | 5.20% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $10,345,000 | $10,345,000 | $0 | 4.79% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $9,855,000 | $9,855,000 | $0 | 4.87% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $9,455,000 | $9,455,000 | $0 | 4.28% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $9,265,000 | $9,265,000 | $0 | 4.83% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $8,305,000 | $8,305,000 | $0 | 5.61% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $8,285,000 | $8,285,000 | $0 | 4.42% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $8,165,000 | $8,165,000 | $0 | 4.93% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $8,095,000 | $8,095,000 | $0 | 4.31% |
| Outside of Metro Areas | 1 | $7,525,000 | $7,525,000 | $0 | 4.29% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $7,055,000 | $7,055,000 | $0 | 4.99% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $6,745,000 | $6,745,000 | $0 | 5.05% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $6,565,000 | $6,565,000 | $0 | 4.72% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $5,775,000 | $5,775,000 | $0 | 4.84% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $5,735,000 | $5,735,000 | $0 | 5.14% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $5,525,000 | $5,525,000 | $0 | 5.05% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $5,325,000 | $5,325,000 | $0 | 4.72% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $5,305,000 | $5,305,000 | $0 | 4.61% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $0 | 5.01% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $3,625,000 | $3,625,000 | $0 | 5.65% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $3,325,000 | $3,325,000 | $0 | 4.98% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $2,775,000 | $2,775,000 | $0 | 4.13% |
| REDDING, CA (FHA|USDA|VA) | 1 | $1,695,000 | $1,695,000 | $0 | 4.84% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 143 | $3,376,385,000 | $23,611,084 | $0 | 4.50% |
For 2018, Prudential Multifamily Mortgage's most frequently originated type of loan was Conventional, with 143 originations.
Loan Reason
For 2018, Prudential Multifamily Mortgage's most frequently cited loan purpose was Cash Out Refi, with 76 originations. The 2nd most popular reason was Home Purchase, with 41 originations.
Loan Duration/Length
For 2018, Prudential Multifamily Mortgage's most frequently cited loan duration was Other, with 60 originations. The 2nd most popular length was 10 Year, with 58 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 106 | $2,239,550,000 | $21,127,830 |
| 5-6% | 21 | $179,895,000 | $8,566,429 |
| 3-4% | 16 | $956,940,000 | $59,808,750 |
During 2018, Prudential Multifamily Mortgage's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 106 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 143 | $3,376,385,000 | $23,611,084 | $0 | 4.50% |
2018 saw Prudential Multifamily Mortgage place emphasis on $1MM+ loans with 143 originations, totaling $3,376,385,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 143 | $3,376,385,000 | $23,611,084 | $0 | 4.50% |
Approval Rates
Total approvals of all applications100.00%
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 origination88.81%
Prudential Multifamily Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 143 | $3,376,385,000 | $23,611,084 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 143 | $3,376,385,000 | $23,611,084 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Partners for Payment Relief | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 100.0% |