Newday Financial Llc Dba Newday Usa

Fulton, MD 20759

LEI: 549300SUCQ1358EGVE89

Tax ID: 22-3887207

2019 Data | 2018 Data


Overview

Newday Financial Llc Dba Newday Usa is a small mortgage company specializing in Cash Out Refi loans. Newday Financial Llc Dba Newday Usa has They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Atlanta, Washington, Phoenix, Las Vegas, and Riverside among others. They have a below 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. Newday Financial Llc Dba Newday Usa is typically a high fee exceptionally high fee lendor.


Originations

10,647

Origination Dollar Volume (All Markets)

$2,456,405,000

Product Mix

Loan Type Originations Total Value Average Loan
FHA 269 $38,085,000 $141,580
VA 10,378 $2,418,320,000 $233,024

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 1,096 $243,980,000 $222,609
Other 120 $9,400,000 $78,333
Refi 1,151 $258,465,000 $224,557
Cash Out Refi 8,280 $1,944,560,000 $234,850

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 1,709 $326,965,000 $191,319
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 358 $79,910,000 $223,212
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 205 $74,035,000 $361,146
PHOENIX-MESA-CHANDLER, AZ 278 $71,000,000 $255,396
LAS VEGAS-HENDERSON-PARADISE, NV 210 $62,430,000 $297,286
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 161 $54,015,000 $335,497
TAMPA-ST. PETERSBURG-CLEARWATER, FL 214 $48,840,000 $228,224
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 142 $36,130,000 $254,437
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 76 $33,660,000 $442,895
LOS ANGELES-LONG BEACH-GLENDALE, CA 78 $31,330,000 $401,667
JACKSONVILLE, FL 138 $30,050,000 $217,754
ORLANDO-KISSIMMEE-SANFORD, FL 120 $29,750,000 $247,917
CHARLOTTE-CONCORD-GASTONIA, NC-SC 136 $29,350,000 $215,809
COLORADO SPRINGS, CO 99 $29,085,000 $293,788
TACOMA-LAKEWOOD, WA 86 $26,990,000 $313,837
INDIANAPOLIS-CARMEL-ANDERSON, IN 122 $23,060,000 $189,016
DENVER-AURORA-LAKEWOOD, CO 72 $22,660,000 $314,722
SEATTLE-BELLEVUE-KENT, WA 62 $22,340,000 $360,323
PALM BAY-MELBOURNE-TITUSVILLE, FL 94 $21,870,000 $232,660
SACRAMENTO-ROSEVILLE-FOLSOM, CA 64 $21,580,000 $337,188
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 89 $21,185,000 $238,034
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 65 $19,885,000 $305,923
WARREN-TROY-FARMINGTON HILLS, MI 96 $19,460,000 $202,708
BOISE CITY, ID 68 $18,960,000 $278,824
KANSAS CITY, MO-KS 100 $18,590,000 $185,900
PENSACOLA-FERRY PASS-BRENT, FL 87 $18,175,000 $208,908
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 66 $16,880,000 $255,758
BALTIMORE-COLUMBIA-TOWSON, MD 62 $16,600,000 $267,742
RICHMOND, VA 66 $16,560,000 $250,909
CINCINNATI, OH-KY-IN 78 $15,790,000 $202,436
COLUMBUS, OH 78 $15,580,000 $199,744
CHARLESTON-NORTH CHARLESTON, SC 71 $15,235,000 $214,577
SPOKANE-SPOKANE VALLEY, WA 54 $14,610,000 $270,556
TUCSON, AZ 68 $14,590,000 $214,559
ST. LOUIS, MO-IL 73 $14,565,000 $199,521
OKLAHOMA CITY, OK 75 $13,605,000 $181,400
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 63 $13,545,000 $215,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 66 $13,240,000 $200,606
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 47 $12,845,000 $273,298
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 62 $12,840,000 $207,097
OLYMPIA-LACEY-TUMWATER, WA 41 $12,525,000 $305,488
COLUMBIA, SC 62 $12,050,000 $194,355
RALEIGH-CARY, NC 55 $11,965,000 $217,545
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 54 $11,660,000 $215,926
LAKE HAVASU CITY-KINGMAN, AZ 50 $11,470,000 $229,400
ALBUQUERQUE, NM 57 $11,205,000 $196,579
AUGUSTA-RICHMOND COUNTY, GA-SC 58 $10,870,000 $187,414
CLARKSVILLE, TN-KY 58 $10,660,000 $183,793
MEMPHIS, TN-MS-AR 56 $10,620,000 $189,643
GREENVILLE-ANDERSON, SC 54 $10,360,000 $191,852
PITTSBURGH, PA 60 $10,310,000 $171,833
HUNTSVILLE, AL 46 $10,190,000 $221,522
PORT ST. LUCIE, FL 47 $10,095,000 $214,787
KNOXVILLE, TN 42 $10,010,000 $238,333
ANAHEIM-SANTA ANA-IRVINE, CA 20 $10,000,000 $500,000
BIRMINGHAM-HOOVER, AL 47 $9,895,000 $210,532
PHILADELPHIA, PA 52 $9,870,000 $189,808
NEW BRUNSWICK-LAKEWOOD, NJ 43 $9,785,000 $227,558
FAYETTEVILLE, NC 58 $9,700,000 $167,241
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 36 $9,700,000 $269,444
MIAMI-MIAMI BEACH-KENDALL, FL 37 $9,695,000 $262,027
NORTH PORT-SARASOTA-BRADENTON, FL 42 $9,660,000 $230,000
VALLEJO, CA 25 $9,655,000 $386,200
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 23 $9,185,000 $399,348
BREMERTON-SILVERDALE-PORT ORCHARD, WA 29 $9,105,000 $313,966
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 35 $8,995,000 $257,000
BAKERSFIELD, CA 38 $8,820,000 $232,105
OMAHA-COUNCIL BLUFFS, NE-IA 46 $8,810,000 $191,522
SAVANNAH, GA 38 $8,550,000 $225,000
OAKLAND-BERKELEY-LIVERMORE, CA 18 $8,350,000 $463,889
GULFPORT-BILOXI, MS 44 $8,350,000 $189,773
NEW ORLEANS-METAIRIE, LA 38 $8,180,000 $215,263
STOCKTON, CA 22 $7,950,000 $361,364
CHATTANOOGA, TN-GA 42 $7,830,000 $186,429
TULSA, OK 45 $7,795,000 $173,222
RENO, NV 25 $7,775,000 $311,000
URBAN HONOLULU, HI 14 $7,710,000 $550,714
NEWARK, NJ-PA 26 $7,700,000 $296,154
GREENSBORO-HIGH POINT, NC 39 $7,685,000 $197,051
OCALA, FL 41 $7,615,000 $185,732
PRESCOTT VALLEY-PRESCOTT, AZ 28 $7,550,000 $269,643
OXNARD-THOUSAND OAKS-VENTURA, CA 15 $7,395,000 $493,000
COLUMBUS, GA-AL 40 $7,280,000 $182,000
BOSTON, MA 21 $7,175,000 $341,667
LAKELAND-WINTER HAVEN, FL 37 $7,165,000 $193,649
ANCHORAGE, AK 27 $7,145,000 $264,630
DAYTON-KETTERING, OH 40 $7,130,000 $178,250
DETROIT-DEARBORN-LIVONIA, MI 46 $7,100,000 $154,348
CLEVELAND-ELYRIA, OH 41 $7,085,000 $172,805
WORCESTER, MA-CT 27 $6,565,000 $243,148
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 17 $6,435,000 $378,529
CAMDEN, NJ 31 $6,335,000 $204,355
DAPHNE-FAIRHOPE-FOLEY, AL 23 $6,285,000 $273,261
SANTA MARIA-SANTA BARBARA, CA 13 $6,285,000 $483,462
CAPE CORAL-FORT MYERS, FL 29 $6,125,000 $211,207
KENNEWICK-RICHLAND, WA 22 $5,990,000 $272,273
FRESNO, CA 22 $5,950,000 $270,455
PORTLAND-SOUTH PORTLAND, ME 22 $5,950,000 $270,455
MONTGOMERY, AL 25 $5,865,000 $234,600
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 20 $5,570,000 $278,500
PUNTA GORDA, FL 27 $5,525,000 $204,630
GREELEY, CO 16 $5,510,000 $344,375
GARY, IN 29 $5,455,000 $188,103
GRAND RAPIDS-KENTWOOD, MI 31 $5,455,000 $175,968
MODESTO, CA 19 $5,445,000 $286,579
MANCHESTER-NASHUA, NH 20 $5,440,000 $272,000
PUEBLO, CO 23 $5,385,000 $234,130
SALISBURY, MD-DE 23 $5,355,000 $232,826
ASHEVILLE, NC 20 $5,350,000 $267,500
CHEYENNE, WY 22 $5,310,000 $241,364
YORK-HANOVER, PA 24 $5,290,000 $220,417
LAKE COUNTY-KENOSHA COUNTY, IL-WI 27 $5,225,000 $193,519
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 22 $5,200,000 $236,364
SALEM, OR 21 $5,145,000 $245,000
EUGENE-SPRINGFIELD, OR 18 $5,130,000 $285,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 15 $5,105,000 $340,333
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 25 $4,795,000 $191,800
WINSTON-SALEM, NC 26 $4,760,000 $183,077
ELIZABETHTOWN-FORT KNOX, KY 25 $4,735,000 $189,400
JACKSONVILLE, NC 25 $4,685,000 $187,400
DURHAM-CHAPEL HILL, NC 21 $4,675,000 $222,619
WILMINGTON, DE-MD-NJ 22 $4,600,000 $209,091
HICKORY-LENOIR-MORGANTON, NC 21 $4,595,000 $218,810
MEDFORD, OR 16 $4,560,000 $285,000
COEUR D'ALENE, ID 16 $4,490,000 $280,625
DOVER, DE 18 $4,440,000 $246,667
SPARTANBURG, SC 22 $4,430,000 $201,364
LEXINGTON-FAYETTE, KY 19 $4,375,000 $230,263
THE VILLAGES, FL 16 $4,360,000 $272,500
GRAND JUNCTION, CO 17 $4,285,000 $252,059
JACKSON, MS 20 $4,230,000 $211,500
BATON ROUGE, LA 24 $4,220,000 $175,833
YUBA CITY, CA 14 $4,150,000 $296,429
MOBILE, AL 26 $4,150,000 $159,615
LANCASTER, PA 19 $4,125,000 $217,105
WICHITA, KS 24 $4,000,000 $166,667
ALBANY-LEBANON, OR 15 $3,935,000 $262,333
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 14 $3,910,000 $279,286
HOMOSASSA SPRINGS, FL 21 $3,905,000 $185,952
SPRINGFIELD, MA 18 $3,850,000 $213,889
DALLAS-PLANO-IRVING, TX 13 $3,825,000 $294,231
HINESVILLE, GA 22 $3,800,000 $172,727
WARNER ROBINS, GA 24 $3,770,000 $157,083
SHREVEPORT-BOSSIER CITY, LA 20 $3,740,000 $187,000
CALIFORNIA-LEXINGTON PARK, MD 11 $3,725,000 $338,636
HARRISBURG-CARLISLE, PA 22 $3,710,000 $168,636
SPRINGFIELD, MO 17 $3,665,000 $215,588
TUSCALOOSA, AL 18 $3,630,000 $201,667
READING, PA 16 $3,490,000 $218,125
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 17 $3,465,000 $203,824
VISALIA, CA 15 $3,415,000 $227,667
AKRON, OH 21 $3,375,000 $160,714
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 15 $3,325,000 $221,667
GAINESVILLE, FL 15 $3,315,000 $221,000
PANAMA CITY, FL 11 $3,285,000 $298,636
LAWTON, OK 18 $3,280,000 $182,222
LANSING-EAST LANSING, MI 17 $3,215,000 $189,118
MILWAUKEE-WAUKESHA, WI 13 $3,205,000 $246,538
MOUNT VERNON-ANACORTES, WA 12 $3,200,000 $266,667
BARNSTABLE TOWN, MA 10 $3,180,000 $318,000
NAPLES-MARCO ISLAND, FL 10 $3,160,000 $316,000
SALINAS, CA 8 $3,150,000 $393,750
AUBURN-OPELIKA, AL 13 $3,135,000 $241,154
MANHATTAN, KS 15 $3,125,000 $208,333
YUMA, AZ 15 $3,085,000 $205,667
GAINESVILLE, GA 10 $3,040,000 $304,000
SEBASTIAN-VERO BEACH, FL 15 $3,005,000 $200,333
LONGVIEW, WA 10 $2,970,000 $297,000
IDAHO FALLS, ID 14 $2,960,000 $211,429
LINCOLN, NE 13 $2,955,000 $227,308
PROVIDENCE-WARWICK, RI-MA 10 $2,870,000 $287,000
ATHENS-CLARKE COUNTY, GA 12 $2,850,000 $237,500
KINGSPORT-BRISTOL, TN-VA 19 $2,835,000 $149,211
DES MOINES-WEST DES MOINES, IA 12 $2,820,000 $235,000
TOPEKA, KS 16 $2,810,000 $175,625
TALLAHASSEE, FL 15 $2,765,000 $184,333
HILTON HEAD ISLAND-BLUFFTON, SC 12 $2,760,000 $230,000
NEW BERN, NC 11 $2,735,000 $248,636
SIERRA VISTA-DOUGLAS, AZ 15 $2,725,000 $181,667
LYNCHBURG, VA 12 $2,720,000 $226,667
CHAMBERSBURG-WAYNESBORO, PA 13 $2,685,000 $206,538
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 17 $2,675,000 $157,353
TOLEDO, OH 16 $2,660,000 $166,250
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 6 $2,630,000 $438,333
FORT SMITH, AR-OK 15 $2,585,000 $172,333
MORRISTOWN, TN 13 $2,555,000 $196,538
BRIDGEPORT-STAMFORD-NORWALK, CT 10 $2,540,000 $254,000
CHICAGO-NAPERVILLE-EVANSTON, IL 14 $2,540,000 $181,429
YAKIMA, WA 10 $2,490,000 $249,000
JACKSON, MI 13 $2,485,000 $191,154
STAUNTON, VA 10 $2,470,000 $247,000
BOULDER, CO 6 $2,470,000 $411,667
CHICO, CA 8 $2,460,000 $307,500
HANFORD-CORCORAN, CA 10 $2,460,000 $246,000
REDDING, CA 10 $2,450,000 $245,000
CANTON-MASSILLON, OH 16 $2,420,000 $151,250
FORT WORTH-ARLINGTON-GRAPEVINE, TX 11 $2,395,000 $217,727
RAPID CITY, SD 10 $2,310,000 $231,000
GREEN BAY, WI 13 $2,275,000 $175,000
FORT COLLINS, CO 8 $2,260,000 $282,500
GOLDSBORO, NC 9 $2,255,000 $250,556
ALBANY, GA 15 $2,255,000 $150,333
BRUNSWICK, GA 10 $2,250,000 $225,000
BELLINGHAM, WA 7 $2,245,000 $320,714
SCRANTON--WILKES-BARRE, PA 15 $2,215,000 $147,667
LAFAYETTE, LA 14 $2,160,000 $154,286
MACON-BIBB COUNTY, GA 11 $2,145,000 $195,000
NEW HAVEN-MILFORD, CT 11 $2,135,000 $194,091
LAS CRUCES, NM 11 $2,125,000 $193,182
FORT WAYNE, IN 14 $2,120,000 $151,429
SIOUX FALLS, SD 9 $2,095,000 $232,778
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 13 $2,055,000 $158,077
ANN ARBOR, MI 8 $2,030,000 $253,750
SAN ANTONIO-NEW BRAUNFELS, TX 8 $2,030,000 $253,750
ROCKY MOUNT, NC 11 $1,985,000 $180,455
LEWISTON, ID-WA 8 $1,970,000 $246,250
HUNTINGTON-ASHLAND, WV-KY-OH 11 $1,935,000 $175,909
EAST STROUDSBURG, PA 9 $1,915,000 $212,778
WILMINGTON, NC 8 $1,870,000 $233,750
BILLINGS, MT 7 $1,845,000 $263,571
MONROE, MI 7 $1,835,000 $262,143
JANESVILLE-BELOIT, WI 12 $1,780,000 $148,333
BURLINGTON, NC 9 $1,765,000 $196,111
LAFAYETTE-WEST LAFAYETTE, IN 9 $1,765,000 $196,111
GREENVILLE, NC 9 $1,765,000 $196,111
ROANOKE, VA 10 $1,760,000 $176,000
JOHNSON CITY, TN 9 $1,755,000 $195,000
HATTIESBURG, MS 8 $1,750,000 $218,750
SUMTER, SC 11 $1,725,000 $156,818
BATTLE CREEK, MI 10 $1,720,000 $172,000
MADISON, WI 8 $1,720,000 $215,000
SPRINGFIELD, OH 10 $1,690,000 $169,000
ANNISTON-OXFORD, AL 11 $1,685,000 $153,182
MANKATO, MN 7 $1,665,000 $237,857
SEBRING-AVON PARK, FL 10 $1,660,000 $166,000
POCATELLO, ID 8 $1,620,000 $202,500
FLINT, MI 11 $1,595,000 $145,000
VALDOSTA, GA 11 $1,595,000 $145,000
JACKSON, TN 6 $1,570,000 $261,667
SAGINAW, MI 11 $1,555,000 $141,364
MERCED, CA 6 $1,550,000 $258,333
ATLANTIC CITY-HAMMONTON, NJ 7 $1,545,000 $220,714
WHEELING, WV-OH 9 $1,545,000 $171,667
EVANSVILLE, IN-KY 9 $1,545,000 $171,667
GRANTS PASS, OR 6 $1,530,000 $255,000
SOUTH BEND-MISHAWAKA, IN-MI 12 $1,520,000 $126,667
CARSON CITY, NV 5 $1,505,000 $301,000
NORWICH-NEW LONDON, CT 6 $1,500,000 $250,000
WALLA WALLA, WA 6 $1,480,000 $246,667
CHARLOTTESVILLE, VA 5 $1,475,000 $295,000
GREAT FALLS, MT 8 $1,470,000 $183,750
LEWISTON-AUBURN, ME 7 $1,425,000 $203,571
AUSTIN-ROUND ROCK-GEORGETOWN, TX 5 $1,425,000 $285,000
TRENTON-PRINCETON, NJ 6 $1,420,000 $236,667
FLORENCE, SC 10 $1,410,000 $141,000
MADERA, CA 6 $1,410,000 $235,000
WINCHESTER, VA-WV 4 $1,400,000 $350,000
MONROE, LA 10 $1,380,000 $138,000
DULUTH, MN-WI 6 $1,360,000 $226,667
LEBANON, PA 8 $1,350,000 $168,750
KALAMAZOO-PORTAGE, MI 7 $1,335,000 $190,714
LA CROSSE-ONALASKA, WI-MN 6 $1,330,000 $221,667
OWENSBORO, KY 8 $1,320,000 $165,000
ALTOONA, PA 8 $1,260,000 $157,500
BOWLING GREEN, KY 7 $1,205,000 $172,143
DOTHAN, AL 7 $1,205,000 $172,143
TWIN FALLS, ID 6 $1,190,000 $198,333
FARMINGTON, NM 6 $1,180,000 $196,667
HAGERSTOWN-MARTINSBURG, MD-WV 6 $1,180,000 $196,667
FAIRBANKS, AK 6 $1,170,000 $195,000
EAU CLAIRE, WI 5 $1,165,000 $233,000
BEND, OR 4 $1,140,000 $285,000
TERRE HAUTE, IN 8 $1,130,000 $141,250
LAKE CHARLES, LA 7 $1,115,000 $159,286
ROCKFORD, IL 10 $1,110,000 $111,000
ROCHESTER, MN 6 $1,100,000 $183,333
ROME, GA 5 $1,095,000 $219,000
ALEXANDRIA, LA 6 $1,080,000 $180,000
HAMMOND, LA 6 $1,070,000 $178,333
OCEAN CITY, NJ 4 $1,060,000 $265,000
BLACKSBURG-CHRISTIANSBURG, VA 3 $1,045,000 $348,333
MANSFIELD, OH 6 $1,030,000 $171,667
BLOOMINGTON, IN 6 $1,030,000 $171,667
SANTA ROSA-PETALUMA, CA 3 $985,000 $328,333
WENATCHEE, WA 4 $980,000 $245,000
MUSKEGON, MI 7 $975,000 $139,286
NAPA, CA 2 $970,000 $485,000
CASPER, WY 5 $965,000 $193,000
FLAGSTAFF, AZ 3 $965,000 $321,667
EL CENTRO, CA 4 $950,000 $237,500
MUNCIE, IN 6 $940,000 $156,667
FLORENCE-MUSCLE SHOALS, AL 5 $925,000 $185,000
KAHULUI-WAILUKU-LAHAINA, HI 2 $920,000 $460,000
HOUMA-THIBODAUX, LA 5 $915,000 $183,000
KOKOMO, IN 7 $905,000 $129,286
ST. JOSEPH, MO-KS 7 $895,000 $127,857
JOHNSTOWN, PA 6 $890,000 $148,333
SAN LUIS OBISPO-PASO ROBLES, CA 3 $875,000 $291,667
WAUSAU-WESTON, WI 4 $870,000 $217,500
BANGOR, ME 5 $815,000 $163,000
SPRINGFIELD, IL 5 $805,000 $161,000
JONESBORO, AR 4 $780,000 $195,000
COLUMBUS, IN 4 $780,000 $195,000
CORVALLIS, OR 2 $770,000 $385,000
KILLEEN-TEMPLE, TX 3 $755,000 $251,667
DECATUR, AL 4 $740,000 $185,000
CAPE GIRARDEAU, MO-IL 4 $740,000 $185,000
HOT SPRINGS, AR 4 $740,000 $185,000
MISSOULA, MT 3 $715,000 $238,333
CARBONDALE-MARION, IL 4 $690,000 $172,500
ELKHART-GOSHEN, IN 3 $675,000 $225,000
VINELAND-BRIDGETON, NJ 4 $660,000 $165,000
CEDAR RAPIDS, IA 5 $645,000 $129,000
DALTON, GA 4 $630,000 $157,500
EL PASO, TX 2 $610,000 $305,000
MICHIGAN CITY-LA PORTE, IN 3 $595,000 $198,333
ELGIN, IL 2 $550,000 $275,000
JEFFERSON CITY, MO 2 $550,000 $275,000
BAY CITY, MI 4 $540,000 $135,000
JOPLIN, MO 4 $540,000 $135,000
ERIE, PA 6 $530,000 $88,333
CLEVELAND, TN 3 $525,000 $175,000
WILLIAMSPORT, PA 3 $495,000 $165,000
WATERLOO-CEDAR FALLS, IA 3 $495,000 $165,000
COLUMBIA, MO 3 $485,000 $161,667
PINE BLUFF, AR 3 $465,000 $155,000
ST. CLOUD, MN 3 $455,000 $151,667
SANTA FE, NM 2 $450,000 $225,000
CHAMPAIGN-URBANA, IL 3 $435,000 $145,000
TYLER, TX 2 $430,000 $215,000
MIDLAND, MI 4 $430,000 $107,500
PEORIA, IL 3 $425,000 $141,667
SHEBOYGAN, WI 3 $425,000 $141,667
IOWA CITY, IA 2 $420,000 $210,000
GRAND ISLAND, NE 2 $420,000 $210,000
RACINE, WI 3 $405,000 $135,000
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1 $395,000 $395,000
GADSDEN, AL 2 $380,000 $190,000
LIMA, OH 3 $375,000 $125,000
GETTYSBURG, PA 2 $370,000 $185,000
SIOUX CITY, IA-NE-SD 2 $370,000 $185,000
APPLETON, WI 2 $350,000 $175,000
LOGAN, UT-ID 1 $345,000 $345,000
BLOOMSBURG-BERWICK, PA 3 $335,000 $111,667
FARGO, ND-MN 2 $320,000 $160,000
TEXARKANA, TX-AR 1 $305,000 $305,000
BLOOMINGTON, IL 2 $290,000 $145,000
WACO, TX 2 $290,000 $145,000
SAN ANGELO, TX 1 $275,000 $275,000
DANVILLE, IL 2 $270,000 $135,000
AMES, IA 2 $260,000 $130,000
ENID, OK 1 $255,000 $255,000
HARRISONBURG, VA 1 $245,000 $245,000
LUBBOCK, TX 1 $245,000 $245,000
MIDLAND, TX 1 $235,000 $235,000
NILES, MI 2 $230,000 $115,000
STATE COLLEGE, PA 1 $225,000 $225,000
BROWNSVILLE-HARLINGEN, TX 1 $195,000 $195,000
GRAND FORKS, ND-MN 1 $195,000 $195,000
DECATUR, IL 2 $180,000 $90,000
LAWRENCE, KS 1 $165,000 $165,000
DUBUQUE, IA 1 $165,000 $165,000
PITTSFIELD, MA 1 $155,000 $155,000
BEAUMONT-PORT ARTHUR, TX 1 $145,000 $145,000
AMARILLO, TX 1 $145,000 $145,000
ABILENE, TX 1 $135,000 $135,000
CORPUS CHRISTI, TX 1 $135,000 $135,000
FOND DU LAC, WI 1 $135,000 $135,000
MCALLEN-EDINBURG-MISSION, TX 1 $125,000 $125,000
LONGVIEW, TX 1 $115,000 $115,000
WEIRTON-STEUBENVILLE, WV-OH 1 $95,000 $95,000

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% 34 $6,170,000 $181,471
3-4% 2,487 $569,975,000 $229,182
4-5% 4,918 $1,143,640,000 $232,542
5-6% 3,201 $734,895,000 $229,583
6-7% 7 $1,725,000 $246,429

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 654 $48,240,000 $73,761
$100k-200k 4,211 $659,525,000 $156,620
$200k-400k 4,977 $1,348,575,000 $270,961
$400k-600k 720 $339,260,000 $471,194
$600k-1000k 79 $54,175,000 $685,759
$Over $1MM 6 $6,630,000 $1,105,000

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% 148 $15,470,000 $104,527
40-60% 274 $46,750,000 $170,620
60-80% 885 $188,275,000 $212,740
80-100% 8,041 $1,899,855,000 $236,271
Over 100% 422 $116,980,000 $277,204
Under 20% 20 $960,000 $48,000

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 1,570 $470,380,000 $299,605
$150k-250k 459 $179,005,000 $389,989
$50k-75k 3,567 $743,685,000 $208,490
$50k-or less 1,963 $303,205,000 $154,460
$75k-100k 2,145 $533,985,000 $248,944
$Over $250k 40 $20,110,000 $502,750

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,676 $1,750,030,000 $227,987
Black 1,536 $347,600,000 $226,302
Not provided 999 $243,245,000 $243,488
American Indian 226 $52,130,000 $230,664
Asian 144 $43,740,000 $303,750
Native Hawaiian 66 $19,660,000 $297,879

Approval Rates

Total approvals of all applications
58.39%

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
-147.34%

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 10,647 $2,456,405,000 $230,713

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,649 $359,075,000 $217,753
$1k-2k 912 $128,590,000 $140,998
$2k-3k 1,167 $220,885,000 $189,276
$3k-4k 2,287 $448,795,000 $196,237
$5k+ 4,632 $1,299,060,000 $280,453

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):Site-Built 10,647 $2,456,405,000 $230,713