Finance Of America Reverse Llc

TULSA, OK 74133

LEI: 549300S5YL3OH0IVCS62

Tax ID: 20-0304793

2019 Data | 2018 Data


Overview

Finance Of America Reverse Llc is a small mortgage company specializing in Refi loans. Finance Of America Reverse Llc has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets include Los Angeles, San Francisco, San Jose, New York, and Anaheim 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. Finance Of America Reverse Llc is typically a lendor.


Originations

6,485

Origination Dollar Volume (All Markets)

$2,125,945,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 1,809 $1,269,445,000 $701,739
FHA 4,676 $856,500,000 $183,169

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 491 $96,935,000 $197,424
Home Improvement 134 $22,420,000 $167,313
Other 1,262 $292,300,000 $231,616
Refi 4,598 $1,714,290,000 $372,834

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 723 $394,595,000 $545,775
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 272 $203,920,000 $749,706
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 265 $177,475,000 $669,717
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 336 $129,780,000 $386,250
ANAHEIM-SANTA ANA-IRVINE, CA 240 $126,250,000 $526,042
OAKLAND-BERKELEY-LIVERMORE, CA 245 $106,585,000 $435,041
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 220 $96,760,000 $439,818
SEATTLE-BELLEVUE-KENT, WA 139 $53,215,000 $382,842
Outside of Metro Areas 323 $51,205,000 $158,529
NASSAU COUNTY-SUFFOLK COUNTY, NY 176 $47,790,000 $271,534
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 229 $46,075,000 $201,201
DENVER-AURORA-LAKEWOOD, CO 182 $39,090,000 $214,780
SAN RAFAEL, CA 60 $38,820,000 $647,000
PHOENIX-MESA-CHANDLER, AZ 158 $29,930,000 $189,430
OXNARD-THOUSAND OAKS-VENTURA, CA 72 $28,510,000 $395,972
SACRAMENTO-ROSEVILLE-FOLSOM, CA 108 $26,100,000 $241,667
SANTA MARIA-SANTA BARBARA, CA 40 $23,730,000 $593,250
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 105 $18,545,000 $176,619
SALINAS, CA 22 $15,640,000 $710,909
SANTA ROSA-PETALUMA, CA 37 $14,685,000 $396,892
SANTA CRUZ-WATSONVILLE, CA 32 $14,050,000 $439,063
URBAN HONOLULU, HI 27 $13,175,000 $487,963
LAS VEGAS-HENDERSON-PARADISE, NV 80 $12,940,000 $161,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 47 $12,465,000 $265,213
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 28 $11,800,000 $421,429
MIAMI-MIAMI BEACH-KENDALL, FL 29 $10,995,000 $379,138
DALLAS-PLANO-IRVING, TX 73 $10,135,000 $138,836
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 68 $9,800,000 $144,118
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 46 $9,700,000 $210,870
BRIDGEPORT-STAMFORD-NORWALK, CT 21 $9,005,000 $428,810
PRESCOTT VALLEY-PRESCOTT, AZ 52 $8,850,000 $170,192
NEW BRUNSWICK-LAKEWOOD, NJ 36 $8,550,000 $237,500
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 46 $8,540,000 $185,652
NAPA, CA 19 $8,225,000 $432,895
TAMPA-ST. PETERSBURG-CLEARWATER, FL 55 $8,085,000 $147,000
BOSTON, MA 32 $7,930,000 $247,813
BOISE CITY, ID 53 $7,875,000 $148,585
AUSTIN-ROUND ROCK-GEORGETOWN, TX 33 $7,265,000 $220,152
NEWARK, NJ-PA 29 $6,955,000 $239,828
ORLANDO-KISSIMMEE-SANFORD, FL 30 $6,670,000 $222,333
SALT LAKE CITY, UT 33 $6,615,000 $200,455
NAPLES-MARCO ISLAND, FL 13 $6,555,000 $504,231
BOULDER, CO 19 $6,165,000 $324,474
SAN LUIS OBISPO-PASO ROBLES, CA 19 $5,875,000 $309,211
BEND, OR 29 $5,775,000 $199,138
CHARLESTON-NORTH CHARLESTON, SC 18 $5,580,000 $310,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 18 $5,570,000 $309,444
PROVIDENCE-WARWICK, RI-MA 31 $5,385,000 $173,710
COLORADO SPRINGS, CO 34 $5,380,000 $158,235
TACOMA-LAKEWOOD, WA 28 $5,170,000 $184,643
CHICAGO-NAPERVILLE-EVANSTON, IL 45 $5,115,000 $113,667
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 29 $4,875,000 $168,103
STOCKTON, CA 25 $4,365,000 $174,600
CHARLOTTE-CONCORD-GASTONIA, NC-SC 34 $4,350,000 $127,941
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 22 $4,330,000 $196,818
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 19 $4,155,000 $218,684
SAN ANTONIO-NEW BRAUNFELS, TX 31 $3,915,000 $126,290
ST. GEORGE, UT 21 $3,905,000 $185,952
JACKSONVILLE, FL 20 $3,840,000 $192,000
COEUR D'ALENE, ID 18 $3,830,000 $212,778
PROVO-OREM, UT 21 $3,825,000 $182,143
TUCSON, AZ 24 $3,740,000 $155,833
NORTH PORT-SARASOTA-BRADENTON, FL 20 $3,700,000 $185,000
HILTON HEAD ISLAND-BLUFFTON, SC 19 $3,365,000 $177,105
SPOKANE-SPOKANE VALLEY, WA 20 $3,340,000 $167,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 24 $3,300,000 $137,500
RICHMOND, VA 17 $3,215,000 $189,118
OGDEN-CLEARFIELD, UT 19 $3,205,000 $168,684
BALTIMORE-COLUMBIA-TOWSON, MD 20 $3,130,000 $156,500
ALBUQUERQUE, NM 17 $3,115,000 $183,235
RENO, NV 11 $3,105,000 $282,273
FORT WORTH-ARLINGTON-GRAPEVINE, TX 28 $3,100,000 $110,714
CAPE CORAL-FORT MYERS, FL 16 $3,080,000 $192,500
VALLEJO, CA 12 $2,820,000 $235,000
NEW ORLEANS-METAIRIE, LA 13 $2,685,000 $206,538
KAHULUI-WAILUKU-LAHAINA, HI 5 $2,565,000 $513,000
ASHEVILLE, NC 17 $2,545,000 $149,706
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 15 $2,465,000 $164,333
FORT COLLINS, CO 11 $2,365,000 $215,000
PHILADELPHIA, PA 19 $2,335,000 $122,895
PORT ST. LUCIE, FL 11 $2,335,000 $212,273
WARREN-TROY-FARMINGTON HILLS, MI 12 $2,100,000 $175,000
BARNSTABLE TOWN, MA 11 $2,025,000 $184,091
GREELEY, CO 13 $2,025,000 $155,769
BELLINGHAM, WA 9 $1,965,000 $218,333
GRAND JUNCTION, CO 15 $1,905,000 $127,000
KNOXVILLE, TN 16 $1,870,000 $116,875
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 18 $1,850,000 $102,778
OCALA, FL 15 $1,835,000 $122,333
CAMDEN, NJ 17 $1,815,000 $106,765
MODESTO, CA 10 $1,800,000 $180,000
LAKE HAVASU CITY-KINGMAN, AZ 15 $1,775,000 $118,333
OLYMPIA-LACEY-TUMWATER, WA 11 $1,765,000 $160,455
INDIANAPOLIS-CARMEL-ANDERSON, IN 15 $1,745,000 $116,333
BIRMINGHAM-HOOVER, AL 10 $1,720,000 $172,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 17 $1,705,000 $100,294
WORCESTER, MA-CT 13 $1,695,000 $130,385
RALEIGH-CARY, NC 12 $1,610,000 $134,167
TULSA, OK 12 $1,590,000 $132,500
SAVANNAH, GA 6 $1,530,000 $255,000
KANSAS CITY, MO-KS 17 $1,515,000 $89,118
BRUNSWICK, GA 1 $1,485,000 $1,485,000
MERCED, CA 11 $1,285,000 $116,818
FRESNO, CA 6 $1,220,000 $203,333
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 6 $1,190,000 $198,333
ATLANTIC CITY-HAMMONTON, NJ 3 $1,185,000 $395,000
BATON ROUGE, LA 9 $1,185,000 $131,667
EUGENE-SPRINGFIELD, OR 13 $1,085,000 $83,462
ST. LOUIS, MO-IL 11 $1,045,000 $95,000
FLAGSTAFF, AZ 6 $1,000,000 $166,667
THE VILLAGES, FL 7 $995,000 $142,143
MADERA, CA 6 $970,000 $161,667
PUNTA GORDA, FL 7 $965,000 $137,857
SEBASTIAN-VERO BEACH, FL 5 $955,000 $191,000
COLUMBIA, SC 5 $935,000 $187,000
WILMINGTON, NC 5 $915,000 $183,000
KENNEWICK-RICHLAND, WA 5 $905,000 $181,000
CALIFORNIA-LEXINGTON PARK, MD 5 $885,000 $177,000
OKLAHOMA CITY, OK 9 $875,000 $97,222
ATHENS-CLARKE COUNTY, GA 4 $870,000 $217,500
LAKE COUNTY-KENOSHA COUNTY, IL-WI 5 $865,000 $173,000
ROANOKE, VA 6 $840,000 $140,000
WILMINGTON, DE-MD-NJ 9 $815,000 $90,556
PITTSBURGH, PA 9 $815,000 $90,556
PORTLAND-SOUTH PORTLAND, ME 5 $805,000 $161,000
SALEM, OR 11 $795,000 $72,273
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 7 $765,000 $109,286
LANCASTER, PA 7 $745,000 $106,429
SANTA FE, NM 4 $730,000 $182,500
LYNCHBURG, VA 6 $690,000 $115,000
SALISBURY, MD-DE 8 $690,000 $86,250
CHEYENNE, WY 5 $685,000 $137,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 6 $670,000 $111,667
CHICO, CA 4 $660,000 $165,000
IDAHO FALLS, ID 4 $660,000 $165,000
WINSTON-SALEM, NC 8 $650,000 $81,250
CINCINNATI, OH-KY-IN 6 $610,000 $101,667
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 6 $600,000 $100,000
CORPUS CHRISTI, TX 5 $595,000 $119,000
HAGERSTOWN-MARTINSBURG, MD-WV 5 $585,000 $117,000
NORWICH-NEW LONDON, CT 3 $585,000 $195,000
TWIN FALLS, ID 4 $560,000 $140,000
CLEVELAND-ELYRIA, OH 8 $560,000 $70,000
PUEBLO, CO 4 $550,000 $137,500
LOGAN, UT-ID 5 $545,000 $109,000
REDDING, CA 6 $540,000 $90,000
SIOUX FALLS, SD 5 $535,000 $107,000
YAKIMA, WA 4 $530,000 $132,500
LONGVIEW, TX 3 $505,000 $168,333
MEDFORD, OR 4 $500,000 $125,000
LONGVIEW, WA 4 $500,000 $125,000
MEMPHIS, TN-MS-AR 5 $495,000 $99,000
GREENVILLE-ANDERSON, SC 6 $490,000 $81,667
HOMOSASSA SPRINGS, FL 5 $485,000 $97,000
CARSON CITY, NV 3 $465,000 $155,000
BAKERSFIELD, CA 5 $445,000 $89,000
COLLEGE STATION-BRYAN, TX 3 $435,000 $145,000
NEW HAVEN-MILFORD, CT 11 $425,000 $38,636
FORT WAYNE, IN 4 $420,000 $105,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 5 $415,000 $83,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 5 $415,000 $83,000
FAYETTEVILLE, NC 3 $405,000 $135,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 3 $395,000 $131,667
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 4 $390,000 $97,500
GREENSBORO-HIGH POINT, NC 6 $390,000 $65,000
MOUNT VERNON-ANACORTES, WA 4 $380,000 $95,000
TRENTON-PRINCETON, NJ 4 $380,000 $95,000
YUBA CITY, CA 3 $365,000 $121,667
DETROIT-DEARBORN-LIVONIA, MI 5 $365,000 $73,000
DAPHNE-FAIRHOPE-FOLEY, AL 1 $345,000 $345,000
LAKELAND-WINTER HAVEN, FL 4 $340,000 $85,000
HARRISBURG-CARLISLE, PA 3 $335,000 $111,667
COLUMBUS, OH 4 $310,000 $77,500
SHERMAN-DENISON, TX 3 $305,000 $101,667
JOHNSON CITY, TN 3 $305,000 $101,667
VISALIA, CA 3 $305,000 $101,667
SOUTH BEND-MISHAWAKA, IN-MI 1 $295,000 $295,000
JACKSON, TN 2 $290,000 $145,000
GAINESVILLE, GA 2 $290,000 $145,000
ANN ARBOR, MI 2 $290,000 $145,000
GARY, IN 4 $280,000 $70,000
GREEN BAY, WI 3 $275,000 $91,667
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $265,000 $88,333
ELKHART-GOSHEN, IN 2 $260,000 $130,000
LAS CRUCES, NM 2 $260,000 $130,000
ALBANY-LEBANON, OR 2 $260,000 $130,000
POCATELLO, ID 1 $255,000 $255,000
FARMINGTON, NM 1 $255,000 $255,000
KINGSPORT-BRISTOL, TN-VA 4 $250,000 $62,500
WENATCHEE, WA 3 $245,000 $81,667
ODESSA, TX 3 $245,000 $81,667
LAFAYETTE-WEST LAFAYETTE, IN 2 $240,000 $120,000
LANSING-EAST LANSING, MI 2 $240,000 $120,000
EL PASO, TX 4 $240,000 $60,000
GRANTS PASS, OR 2 $240,000 $120,000
ALBANY-SCHENECTADY-TROY, NY 2 $240,000 $120,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $220,000 $110,000
KANKAKEE, IL 3 $215,000 $71,667
ROCHESTER, NY 1 $215,000 $215,000
MORRISTOWN, TN 3 $215,000 $71,667
AMARILLO, TX 3 $215,000 $71,667
GULFPORT-BILOXI, MS 2 $210,000 $105,000
DURHAM-CHAPEL HILL, NC 2 $210,000 $105,000
HICKORY-LENOIR-MORGANTON, NC 3 $195,000 $65,000
ELGIN, IL 3 $195,000 $65,000
BUFFALO-CHEEKTOWAGA, NY 3 $185,000 $61,667
LAFAYETTE, LA 2 $170,000 $85,000
SEBRING-AVON PARK, FL 3 $165,000 $55,000
JACKSONVILLE, NC 3 $165,000 $55,000
TYLER, TX 2 $160,000 $80,000
COLUMBUS, GA-AL 1 $155,000 $155,000
ANCHORAGE, AK 1 $155,000 $155,000
WATERTOWN-FORT DRUM, NY 1 $155,000 $155,000
GRAND RAPIDS-KENTWOOD, MI 1 $155,000 $155,000
MONROE, MI 2 $150,000 $75,000
GAINESVILLE, FL 3 $145,000 $48,333
SHREVEPORT-BOSSIER CITY, LA 1 $145,000 $145,000
SIERRA VISTA-DOUGLAS, AZ 1 $145,000 $145,000
BROWNSVILLE-HARLINGEN, TX 1 $145,000 $145,000
AKRON, OH 3 $145,000 $48,333
HUNTSVILLE, AL 2 $140,000 $70,000
YORK-HANOVER, PA 2 $140,000 $70,000
TERRE HAUTE, IN 2 $140,000 $70,000
CHATTANOOGA, TN-GA 2 $140,000 $70,000
SPRINGFIELD, MA 1 $135,000 $135,000
STATE COLLEGE, PA 1 $135,000 $135,000
CANTON-MASSILLON, OH 1 $135,000 $135,000
FORT SMITH, AR-OK 3 $135,000 $45,000
SHEBOYGAN, WI 1 $135,000 $135,000
PITTSFIELD, MA 1 $135,000 $135,000
SPRINGFIELD, MO 1 $135,000 $135,000
MADISON, WI 2 $130,000 $65,000
DES MOINES-WEST DES MOINES, IA 1 $125,000 $125,000
WACO, TX 1 $125,000 $125,000
WINCHESTER, VA-WV 1 $125,000 $125,000
HAMMOND, LA 1 $115,000 $115,000
PANAMA CITY, FL 1 $115,000 $115,000
SAN ANGELO, TX 1 $115,000 $115,000
JACKSON, MS 1 $115,000 $115,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 1 $115,000 $115,000
JOPLIN, MO 2 $110,000 $55,000
KILLEEN-TEMPLE, TX 1 $105,000 $105,000
GLENS FALLS, NY 1 $105,000 $105,000
READING, PA 1 $95,000 $95,000
OCEAN CITY, NJ 1 $95,000 $95,000
DAYTON-KETTERING, OH 1 $95,000 $95,000
GADSDEN, AL 1 $85,000 $85,000
MACON-BIBB COUNTY, GA 1 $85,000 $85,000
EAU CLAIRE, WI 1 $85,000 $85,000
EAST STROUDSBURG, PA 1 $85,000 $85,000
DOTHAN, AL 1 $85,000 $85,000
ROCHESTER, MN 1 $85,000 $85,000
TEXARKANA, TX-AR 1 $85,000 $85,000
NILES, MI 1 $75,000 $75,000
KOKOMO, IN 1 $75,000 $75,000
FLINT, MI 1 $75,000 $75,000
BILLINGS, MT 2 $70,000 $35,000
BURLINGTON, NC 1 $65,000 $65,000
VICTORIA, TX 1 $65,000 $65,000
BANGOR, ME 1 $65,000 $65,000
SUMTER, SC 1 $55,000 $55,000
MONTGOMERY, AL 1 $55,000 $55,000
HATTIESBURG, MS 1 $55,000 $55,000
BINGHAMTON, NY 1 $55,000 $55,000
WICHITA FALLS, TX 1 $45,000 $45,000
STAUNTON, VA 1 $45,000 $45,000
ALEXANDRIA, LA 1 $45,000 $45,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $45,000 $45,000
UTICA-ROME, NY 1 $45,000 $45,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $35,000 $35,000
EVANSVILLE, IN-KY 1 $35,000 $35,000
SYRACUSE, NY 1 $35,000 $35,000
SPARTANBURG, SC 1 $25,000 $25,000
MUNCIE, IN 1 $25,000 $25,000
WICHITA, KS 1 $25,000 $25,000
MCALLEN-EDINBURG-MISSION, TX 1 $15,000 $15,000
WAUSAU-WESTON, WI 1 $15,000 $15,000

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
2.5-3% 4 $1,090,000 $272,500
3-4% 1,523 $355,055,000 $233,129
4-5% 2,488 $414,320,000 $166,527
5-6% 1,107 $434,545,000 $392,543
6-7% 1,252 $842,880,000 $673,227
7-8% 111 $78,055,000 $703,198

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,229 $75,025,000 $61,046
$100k-200k 1,714 $252,880,000 $147,538
$200k-400k 1,786 $514,820,000 $288,253
$400k-600k 853 $416,335,000 $488,083
$600k-1000k 650 $487,520,000 $750,031
$Over $1MM 253 $379,365,000 $1,499,466

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% 1,662 $493,600,000 $296,992
40-60% 3,759 $1,424,205,000 $378,879
60-80% 535 $157,785,000 $294,925
80-100% 3 $595,000 $198,333
Over 100% 1 $715,000 $715,000
Under 20% 525 $49,045,000 $93,419

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 96 $54,790,000 $570,729
$150k-250k 26 $22,820,000 $877,692
$50k-75k 620 $230,110,000 $371,145
$50k-or less 5,556 $1,728,580,000 $311,120
$75k-100k 179 $79,065,000 $441,704
$Over $250k 6 $9,190,000 $1,531,667

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 5,271 $1,721,725,000 $326,641
Not provided 489 $161,975,000 $331,237
Black 519 $150,235,000 $289,470
Asian 151 $69,375,000 $459,437
Native Hawaiian 15 $7,955,000 $530,333
American Indian 20 $5,300,000 $265,000
Filipino 7 $2,785,000 $397,857
Japanese 4 $2,270,000 $567,500
Asian Indian 3 $1,825,000 $608,333
Samoan 1 $615,000 $615,000
Other Pacific Islander 1 $595,000 $595,000
Native Hawiian 2 $580,000 $290,000
Chinese 1 $415,000 $415,000
1 $295,000 $295,000

Approval Rates

Total approvals of all applications
97.29%

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
76.24%

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 6,485 $2,125,945,000 $327,825

Origination Fees

Origination Fee Originations Total Value Average Loan

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 90 $9,490,000 $105,444
Single Family (1-4 Units):Site-Built 6,395 $2,116,455,000 $330,955