Union Home Mortgage Company

Strongsville, OH 44136

LEI: 549300RPOGWJRH63HS39

Tax ID: 34-1084436

2019 Data | 2018 Data


Overview

Union Home Mortgage Company is a small mortgage company specializing in Home Purchase and Refi loans. Union Home Mortgage Company 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 Columbus, Phoenix, Warren, Chicago, and Pittsburgh 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. Union Home Mortgage Company is typically a normal fee medium-low fee lendor.


Originations

23,544

Origination Dollar Volume (All Markets)

$4,421,140,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 15,925 $3,062,515,000 $192,309
FHA 4,198 $679,990,000 $161,980
VA 2,333 $534,965,000 $229,303
USDA 1,088 $143,670,000 $132,050

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 17,203 $3,046,625,000 $177,098
Home Improvement 219 $40,295,000 $183,995
Refi 3,973 $914,215,000 $230,107
Cash Out Refi 2,149 $420,005,000 $195,442

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
Outside of Metro Areas 3,240 $467,680,000 $144,346
COLUMBUS, OH 1,775 $353,085,000 $198,921
PHOENIX-MESA-CHANDLER, AZ 1,008 $242,170,000 $240,248
WARREN-TROY-FARMINGTON HILLS, MI 1,059 $216,765,000 $204,688
CHICAGO-NAPERVILLE-EVANSTON, IL 663 $159,425,000 $240,460
PITTSBURGH, PA 787 $132,005,000 $167,732
LANSING-EAST LANSING, MI 857 $128,535,000 $149,982
CLEVELAND-ELYRIA, OH 775 $125,495,000 $161,929
CINCINNATI, OH-KY-IN 611 $106,595,000 $174,460
KANSAS CITY, MO-KS 549 $102,685,000 $187,040
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 235 $89,465,000 $380,702
FAYETTEVILLE, NC 446 $83,460,000 $187,130
TOLEDO, OH 572 $83,290,000 $145,612
GRAND RAPIDS-KENTWOOD, MI 434 $79,780,000 $183,825
TAMPA-ST. PETERSBURG-CLEARWATER, FL 330 $61,950,000 $187,727
JACKSONVILLE, FL 262 $59,420,000 $226,794
DURHAM-CHAPEL HILL, NC 246 $57,740,000 $234,715
INDIANAPOLIS-CARMEL-ANDERSON, IN 279 $55,235,000 $197,975
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 260 $53,100,000 $204,231
DETROIT-DEARBORN-LIVONIA, MI 355 $51,515,000 $145,113
RALEIGH-CARY, NC 188 $49,780,000 $264,787
AKRON, OH 325 $49,575,000 $152,538
DAYTON-KETTERING, OH 253 $46,735,000 $184,723
GARY, IN 228 $44,470,000 $195,044
ORLANDO-KISSIMMEE-SANFORD, FL 198 $43,900,000 $221,717
BURLINGTON, NC 231 $43,205,000 $187,035
GREENSBORO-HIGH POINT, NC 224 $43,100,000 $192,411
MONROE, MI 244 $38,450,000 $157,582
DALLAS-PLANO-IRVING, TX 145 $38,385,000 $264,724
ASHEVILLE, NC 156 $35,090,000 $224,936
LAKE HAVASU CITY-KINGMAN, AZ 205 $34,195,000 $166,805
NEW ORLEANS-METAIRIE, LA 155 $33,195,000 $214,161
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 162 $32,140,000 $198,395
PRESCOTT VALLEY-PRESCOTT, AZ 132 $30,780,000 $233,182
WILMINGTON, NC 139 $30,725,000 $221,043
MIAMI-MIAMI BEACH-KENDALL, FL 140 $30,560,000 $218,286
SALISBURY, MD-DE 132 $29,930,000 $226,742
NORTH PORT-SARASOTA-BRADENTON, FL 120 $29,710,000 $247,583
FORT WAYNE, IN 184 $29,010,000 $157,663
ATLANTIC CITY-HAMMONTON, NJ 163 $28,155,000 $172,730
BALTIMORE-COLUMBIA-TOWSON, MD 86 $28,130,000 $327,093
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 216 $25,800,000 $119,444
BATON ROUGE, LA 112 $24,050,000 $214,732
OKLAHOMA CITY, OK 117 $24,005,000 $205,171
WINSTON-SALEM, NC 117 $22,715,000 $194,145
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 93 $22,645,000 $243,495
NEW BRUNSWICK-LAKEWOOD, NJ 84 $22,470,000 $267,500
AUSTIN-ROUND ROCK-GEORGETOWN, TX 82 $22,440,000 $273,659
LONGVIEW, TX 133 $22,385,000 $168,308
CAPE CORAL-FORT MYERS, FL 96 $21,090,000 $219,688
GAINESVILLE, FL 101 $17,825,000 $176,485
CANTON-MASSILLON, OH 121 $17,275,000 $142,769
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 64 $16,340,000 $255,313
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 45 $16,115,000 $358,111
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 49 $15,955,000 $325,612
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 77 $15,935,000 $206,948
FLINT, MI 91 $15,795,000 $173,571
HARRISBURG-CARLISLE, PA 78 $15,770,000 $202,179
LANCASTER, PA 77 $14,495,000 $188,247
CHARLOTTE-CONCORD-GASTONIA, NC-SC 69 $14,415,000 $208,913
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 67 $14,245,000 $212,612
DOVER, DE 60 $13,830,000 $230,500
WHEELING, WV-OH 105 $13,615,000 $129,667
SAN ANTONIO-NEW BRAUNFELS, TX 58 $12,920,000 $222,759
ERIE, PA 103 $12,865,000 $124,903
SEBASTIAN-VERO BEACH, FL 51 $12,405,000 $243,235
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 49 $11,745,000 $239,694
ALBUQUERQUE, NM 66 $11,450,000 $173,485
LAKE COUNTY-KENOSHA COUNTY, IL-WI 54 $11,430,000 $211,667
LAKELAND-WINTER HAVEN, FL 63 $11,365,000 $180,397
ST. LOUIS, MO-IL 60 $11,350,000 $189,167
MANSFIELD, OH 85 $11,325,000 $133,235
MILWAUKEE-WAUKESHA, WI 52 $11,230,000 $215,962
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 39 $10,895,000 $279,359
YORK-HANOVER, PA 60 $10,760,000 $179,333
FORT WORTH-ARLINGTON-GRAPEVINE, TX 48 $10,490,000 $218,542
CHAMBERSBURG-WAYNESBORO, PA 62 $10,220,000 $164,839
BATTLE CREEK, MI 73 $9,955,000 $136,370
SHREVEPORT-BOSSIER CITY, LA 54 $9,860,000 $182,593
CORPUS CHRISTI, TX 59 $9,685,000 $164,153
LOUISVILLE/JEFFERSON COUNTY, KY-IN 60 $9,290,000 $154,833
SOUTH BEND-MISHAWAKA, IN-MI 58 $9,240,000 $159,310
ANN ARBOR, MI 50 $9,110,000 $182,200
JACKSONVILLE, NC 49 $8,965,000 $182,959
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 47 $8,515,000 $181,170
WILMINGTON, DE-MD-NJ 37 $7,775,000 $210,135
GREENVILLE-ANDERSON, SC 33 $6,625,000 $200,758
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 23 $6,155,000 $267,609
LEXINGTON-FAYETTE, KY 28 $6,060,000 $216,429
LAFAYETTE, LA 35 $5,915,000 $169,000
CHATTANOOGA, TN-GA 34 $5,780,000 $170,000
CAMDEN, NJ 31 $5,695,000 $183,710
OCALA, FL 40 $5,570,000 $139,250
MICHIGAN CITY-LA PORTE, IN 36 $5,430,000 $150,833
PENSACOLA-FERRY PASS-BRENT, FL 25 $5,155,000 $206,200
DULUTH, MN-WI 40 $5,090,000 $127,250
READING, PA 26 $5,070,000 $195,000
PUNTA GORDA, FL 31 $4,995,000 $161,129
NILES, MI 30 $4,990,000 $166,333
NEWARK, NJ-PA 16 $4,780,000 $298,750
HOMOSASSA SPRINGS, FL 30 $4,720,000 $157,333
CHARLESTON, WV 36 $4,630,000 $128,611
JACKSON, MI 32 $4,420,000 $138,125
MERCED, CA 18 $4,120,000 $228,889
ELGIN, IL 20 $4,100,000 $205,000
ANAHEIM-SANTA ANA-IRVINE, CA 10 $3,950,000 $395,000
LOS ANGELES-LONG BEACH-GLENDALE, CA 7 $3,845,000 $549,286
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 7 $3,815,000 $545,000
SPRINGFIELD, OH 22 $3,790,000 $172,273
HUNTINGTON-ASHLAND, WV-KY-OH 24 $3,770,000 $157,083
CHARLESTON-NORTH CHARLESTON, SC 18 $3,710,000 $206,111
KNOXVILLE, TN 20 $3,560,000 $178,000
NEW BERN, NC 22 $3,550,000 $161,364
RICHMOND, VA 17 $3,485,000 $205,000
GREENVILLE, NC 22 $3,420,000 $155,455
ALTOONA, PA 28 $3,390,000 $121,071
GETTYSBURG, PA 16 $3,220,000 $201,250
SAGINAW, MI 34 $3,130,000 $92,059
KALAMAZOO-PORTAGE, MI 18 $3,050,000 $169,444
DENVER-AURORA-LAKEWOOD, CO 13 $2,985,000 $229,615
PORT ST. LUCIE, FL 13 $2,935,000 $225,769
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 18 $2,930,000 $162,778
HAGERSTOWN-MARTINSBURG, MD-WV 19 $2,875,000 $151,316
NAPLES-MARCO ISLAND, FL 12 $2,740,000 $228,333
JOHNSON CITY, TN 16 $2,730,000 $170,625
LAS VEGAS-HENDERSON-PARADISE, NV 10 $2,710,000 $271,000
ELKHART-GOSHEN, IN 18 $2,700,000 $150,000
TUCSON, AZ 14 $2,660,000 $190,000
CHAMPAIGN-URBANA, IL 20 $2,610,000 $130,500
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 9 $2,575,000 $286,111
MORGANTOWN, WV 13 $2,565,000 $197,308
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 9 $2,525,000 $280,556
MIDLAND, MI 20 $2,510,000 $125,500
FLAGSTAFF, AZ 9 $2,495,000 $277,222
TEXARKANA, TX-AR 17 $2,465,000 $145,000
PHILADELPHIA, PA 14 $2,440,000 $174,286
PALM BAY-MELBOURNE-TITUSVILLE, FL 12 $2,420,000 $201,667
TULSA, OK 14 $2,380,000 $170,000
ST. JOSEPH, MO-KS 15 $2,195,000 $146,333
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 6 $2,180,000 $363,333
OCEAN CITY, NJ 10 $2,110,000 $211,000
TOPEKA, KS 12 $2,020,000 $168,333
LAREDO, TX 10 $1,960,000 $196,000
MADISON, WI 11 $1,955,000 $177,727
LEBANON, PA 10 $1,890,000 $189,000
COLORADO SPRINGS, CO 8 $1,870,000 $233,750
OAKLAND-BERKELEY-LIVERMORE, CA 5 $1,865,000 $373,000
SPARTANBURG, SC 10 $1,780,000 $178,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 8 $1,760,000 $220,000
KILLEEN-TEMPLE, TX 9 $1,745,000 $193,889
EL PASO, TX 11 $1,725,000 $156,818
SACRAMENTO-ROSEVILLE-FOLSOM, CA 6 $1,720,000 $286,667
ELIZABETHTOWN-FORT KNOX, KY 12 $1,690,000 $140,833
LAFAYETTE-WEST LAFAYETTE, IN 7 $1,665,000 $237,857
LIMA, OH 12 $1,510,000 $125,833
WEIRTON-STEUBENVILLE, WV-OH 15 $1,425,000 $95,000
MUSKEGON, MI 13 $1,405,000 $108,077
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 7 $1,395,000 $199,286
SEATTLE-BELLEVUE-KENT, WA 3 $1,385,000 $461,667
BAY CITY, MI 18 $1,350,000 $75,000
BIRMINGHAM-HOOVER, AL 9 $1,335,000 $148,333
GREELEY, CO 4 $1,210,000 $302,500
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 3 $1,155,000 $385,000
COLUMBIA, SC 6 $1,150,000 $191,667
WACO, TX 6 $1,150,000 $191,667
THE VILLAGES, FL 7 $1,145,000 $163,571
TYLER, TX 5 $1,105,000 $221,000
SAVANNAH, GA 4 $1,070,000 $267,500
MEMPHIS, TN-MS-AR 6 $980,000 $163,333
WICHITA, KS 4 $980,000 $245,000
GAINESVILLE, GA 5 $975,000 $195,000
LUBBOCK, TX 7 $975,000 $139,286
HOUMA-THIBODAUX, LA 5 $965,000 $193,000
RENO, NV 3 $965,000 $321,667
SHERMAN-DENISON, TX 4 $930,000 $232,500
HILTON HEAD ISLAND-BLUFFTON, SC 4 $920,000 $230,000
MODESTO, CA 5 $915,000 $183,000
ROCKY MOUNT, NC 5 $905,000 $181,000
STOCKTON, CA 4 $870,000 $217,500
SANTA FE, NM 5 $815,000 $163,000
MIDLAND, TX 2 $810,000 $405,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 2 $810,000 $405,000
COLLEGE STATION-BRYAN, TX 4 $810,000 $202,500
CHARLOTTESVILLE, VA 4 $770,000 $192,500
SEBRING-AVON PARK, FL 5 $755,000 $151,000
BLACKSBURG-CHRISTIANSBURG, VA 3 $715,000 $238,333
KOKOMO, IN 6 $700,000 $116,667
KINGSPORT-BRISTOL, TN-VA 6 $690,000 $115,000
BROWNSVILLE-HARLINGEN, TX 4 $690,000 $172,500
JANESVILLE-BELOIT, WI 5 $685,000 $137,000
HOT SPRINGS, AR 4 $670,000 $167,500
MORRISTOWN, TN 4 $660,000 $165,000
VALLEJO, CA 2 $650,000 $325,000
JOHNSTOWN, PA 5 $635,000 $127,000
GOLDSBORO, NC 5 $555,000 $111,000
ROANOKE, VA 3 $535,000 $178,333
ROCHESTER, MN 2 $530,000 $265,000
JACKSON, TN 3 $525,000 $175,000
TRENTON-PRINCETON, NJ 2 $510,000 $255,000
FORT COLLINS, CO 2 $510,000 $255,000
PANAMA CITY, FL 3 $505,000 $168,333
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 1 $495,000 $495,000
BOULDER, CO 1 $485,000 $485,000
BEAUMONT-PORT ARTHUR, TX 3 $485,000 $161,667
SALINAS, CA 1 $485,000 $485,000
COLUMBIA, MO 2 $470,000 $235,000
REDDING, CA 1 $465,000 $465,000
STAUNTON, VA 3 $465,000 $155,000
SUMTER, SC 4 $440,000 $110,000
AMARILLO, TX 2 $440,000 $220,000
SALEM, OR 2 $420,000 $210,000
DAPHNE-FAIRHOPE-FOLEY, AL 2 $410,000 $205,000
BLOOMINGTON, IN 1 $395,000 $395,000
YUMA, AZ 2 $390,000 $195,000
VINELAND-BRIDGETON, NJ 2 $390,000 $195,000
HAMMOND, LA 3 $385,000 $128,333
MUNCIE, IN 3 $375,000 $125,000
DECATUR, IL 2 $370,000 $185,000
SCRANTON--WILKES-BARRE, PA 3 $365,000 $121,667
VICTORIA, TX 2 $360,000 $180,000
VALDOSTA, GA 2 $350,000 $175,000
BAKERSFIELD, CA 1 $345,000 $345,000
EAU CLAIRE, WI 2 $340,000 $170,000
TERRE HAUTE, IN 1 $335,000 $335,000
WINCHESTER, VA-WV 2 $330,000 $165,000
COLUMBUS, GA-AL 2 $330,000 $165,000
BOWLING GREEN, KY 1 $315,000 $315,000
LYNCHBURG, VA 2 $290,000 $145,000
DES MOINES-WEST DES MOINES, IA 2 $290,000 $145,000
SAN ANGELO, TX 1 $285,000 $285,000
SANTA ROSA-PETALUMA, CA 1 $285,000 $285,000
HANFORD-CORCORAN, CA 1 $285,000 $285,000
FRESNO, CA 2 $280,000 $140,000
ALBANY, GA 2 $280,000 $140,000
HICKORY-LENOIR-MORGANTON, NC 2 $280,000 $140,000
DANVILLE, IL 3 $275,000 $91,667
GULFPORT-BILOXI, MS 1 $275,000 $275,000
YUBA CITY, CA 1 $265,000 $265,000
MOBILE, AL 1 $255,000 $255,000
ATHENS-CLARKE COUNTY, GA 2 $240,000 $120,000
FORT SMITH, AR-OK 2 $220,000 $110,000
MADERA, CA 2 $220,000 $110,000
ROCKFORD, IL 2 $210,000 $105,000
SPRINGFIELD, IL 1 $185,000 $185,000
LAWRENCE, KS 1 $185,000 $185,000
ALEXANDRIA, LA 1 $185,000 $185,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $175,000 $175,000
TACOMA-LAKEWOOD, WA 1 $175,000 $175,000
WARNER ROBINS, GA 1 $175,000 $175,000
EVANSVILLE, IN-KY 1 $165,000 $165,000
SPRINGFIELD, MO 1 $165,000 $165,000
OWENSBORO, KY 1 $155,000 $155,000
PUEBLO, CO 1 $155,000 $155,000
LAWTON, OK 1 $155,000 $155,000
COLUMBUS, IN 1 $145,000 $145,000
LAS CRUCES, NM 1 $135,000 $135,000
LONGVIEW, WA 1 $135,000 $135,000
YAKIMA, WA 1 $135,000 $135,000
JONESBORO, AR 1 $135,000 $135,000
BECKLEY, WV 1 $125,000 $125,000
GADSDEN, AL 1 $125,000 $125,000
CLEVELAND, TN 1 $115,000 $115,000
KANKAKEE, IL 1 $115,000 $115,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $115,000 $115,000
ODESSA, TX 1 $115,000 $115,000
TUSCALOOSA, AL 1 $95,000 $95,000
RACINE, WI 1 $85,000 $85,000
PEORIA, IL 1 $85,000 $85,000
BLOOMINGTON, IL 1 $75,000 $75,000
EAST STROUDSBURG, PA 1 $65,000 $65,000
MONTGOMERY, AL 1 $55,000 $55,000

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% 4 $560,000 $140,000
2.5-3% 81 $18,245,000 $225,247
3-4% 9,066 $1,970,530,000 $217,354
4-5% 10,641 $1,965,695,000 $184,728
5-6% 2,868 $415,540,000 $144,888
6-7% 247 $39,925,000 $161,640
7-8% 32 $4,980,000 $155,625
Over 8% 9 $1,675,000 $186,111

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,985 $261,155,000 $65,535
$100k-200k 10,826 $1,604,860,000 $148,241
$200k-400k 7,693 $2,071,605,000 $269,284
$400k-600k 986 $445,760,000 $452,089
$600k-1000k 50 $33,690,000 $673,800
$Over $1MM 4 $4,070,000 $1,017,500

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% 305 $34,095,000 $111,787
40-60% 935 $157,655,000 $168,615
60-80% 4,550 $894,140,000 $196,514
80-100% 14,659 $2,744,265,000 $187,207
Over 100% 496 $117,020,000 $235,927
Under 20% 568 $4,990,000 $8,785

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 3,881 $971,735,000 $250,383
$150k-250k 1,775 $530,685,000 $298,977
$50k-75k 6,833 $1,109,885,000 $162,430
$50k-or less 6,108 $694,440,000 $113,694
$75k-100k 3,926 $816,090,000 $207,868
$Over $250k 468 $155,910,000 $333,141

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 20,600 $3,821,420,000 $185,506
Black 1,319 $224,165,000 $169,951
Asian 833 $212,455,000 $255,048
Not provided 672 $141,660,000 $210,804
American Indian 91 $15,725,000 $172,802
Native Hawaiian 26 $4,920,000 $189,231
Korean 1 $375,000 $375,000
Chinese 1 $275,000 $275,000
Asian Indian 1 $145,000 $145,000

Approval Rates

Total approvals of all applications
96.30%

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
86.21%

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
NA 23,544 $4,421,140,000 $187,782

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 5,510 $906,780,000 $164,570
$1k-2k 11,483 $2,210,135,000 $192,470
$2k-3k 3,224 $585,870,000 $181,721
$3k-4k 2,126 $458,420,000 $215,626
$5k+ 563 $174,395,000 $309,760

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 643 $77,705,000 $120,848
Single Family (1-4 Units):Site-Built 22,901 $4,343,435,000 $189,661