Laurel Road Bank Mortgage Rates, Fees & Info
b, CTLEI: 549300RU4FG8BPMQYM84
Tax ID: 13-4279308
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Mortgage Data
Review & Overview
Laurel Road Bank is a smaller bank specializing in Home Purchase loans. Laurel Road Bank has a high proportion of conventional loans. Laurel Road Bank has an average proportion of conventional loans. Their top markets by origination volume include: New York, Hartford, Bridgeport, Charlotte, and Riverside among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Laurel Road Bank 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
22Origination Dollar Volume (All Markets)
$9,260,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $3,335,000 | $476,429 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $1,605,000 | $1,605,000 | $0 | 0.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $0 | 4.48% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $8,405,000 | $400,238 | $0 | 0.00% |
| Conventional | 1 | $855,000 | $855,000 | $0 | 4.48% |
For 2019, Laurel Road Bank's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2019, Laurel Road Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 21 | $8,405,000 | $400,238 | $0 | 0.00% |
| 20 Year | 1 | $855,000 | $855,000 | $0 | 4.48% |
For 2019, Laurel Road Bank's most frequently cited loan duration was Other, with 21 originations. The 2nd most popular length was 20 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1 | $855,000 | $855,000 |
During 2019, Laurel Road Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 1 originations.
Loan Sizing
2019 saw Laurel Road Bank place emphasis on $200k-400k loans with 12 originations, totaling $3,500,000 in origination value.
Applicant Income
Laurel Road Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 21 | $8,405,000 | $400,238 | $0 | 0.00% |
Laurel Road Bank lent most frequently to those with DTI ratios of Exempt%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.54%
Laurel Road Bank has an average approval rate.
Pick Rate
Approvals leading to origination0.00%
Laurel Road Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 21 | $8,405,000 | $400,238 |
| NA | 1 | $855,000 | $855,000 |