Oneunited Bank Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300T8HS215KI8TH55

Tax ID: 04-2764211

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Oneunited Bank is a smaller bank specializing in Cash Out Refi loans. Oneunited Bank has a high proportion of conventional loans. Their top markets include Los Angeles, San Diego, Riverside, Boston, and Miami among others. Oneunited Bank has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

85

Origination Dollar Volume (All Markets)

$141,495,000

Employee count

101

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 62 $109,450,000 $1,765,323 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $23,740,000 $2,374,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $4,025,000 $4,025,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 9 $3,705,000 $411,667 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $575,000 $191,667 $0 0.00%

Oneunited Bank's top markets include Los Angeles, San Diego, Riverside, Boston, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 85 $141,495,000 $1,664,647 $0 0.00%

For the 2021 period, Oneunited Bank's most frequently originated loan type of loans were Conventional, with 85 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 64 $111,260,000 $1,738,438 $0 0.00%
Home Purchase 11 $26,275,000 $2,388,636 $0 0.00%
Refi 9 $3,755,000 $417,222 $0 0.00%
Home Improvement 1 $205,000 $205,000 $0 0.00%

For the 2021, Oneunited Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 64 originations. The 2nd most popular reason of loans were Home Purchase, with 11 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 85 $141,495,000 $1,664,647 $0 0.00%

For the 2021, Oneunited Bank's most frequently cited loan length of loans were Other, with 85 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 62 $131,500,000 $2,120,968 $0 0.00%
$200k-400k 10 $2,960,000 $296,000 $0 0.00%
$600k-1MM 6 $5,040,000 $840,000 $0 0.00%
$100k-200k 4 $680,000 $170,000 $0 0.00%
$400k-600k 3 $1,315,000 $438,333 $0 0.00%

2021 saw Oneunited Bank place emphasis on $1MM+ loans with 62 originations, totaling $131,500,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 5 $1,785,000 $357,000 $0 0.00%
$150k-250k 4 $1,400,000 $350,000 $0 0.00%
$250k+ 3 $1,635,000 $545,000 $0 0.00%
$50k-75k 3 $765,000 $255,000 $0 0.00%
$75k-100k 3 $575,000 $191,667 $0 0.00%
$50k or less 1 $115,000 $115,000 $0 0.00%

Oneunited Bank lent most frequently to those with incomes in the $100k-150k range, with 5 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% 85 $141,495,000 $1,664,647 $0 0.00%

Oneunited Bank lent most frequently to those with DTI ratios of Exempt%, with 85 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 59 $124,705,000 $2,113,644 $0 0.00%
Not provided 11 $10,885,000 $989,545 $0 0.00%
Black 9 $2,405,000 $267,222 $0 0.00%
White 5 $2,125,000 $425,000 $0 0.00%
Asian 1 $1,375,000 $1,375,000 $0 0.00%

Approval Rates

Total approvals of all applications
58.72%

Oneunited Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
68.25%

Oneunited 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 85 $141,495,000 $1,664,647

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
85 $141,495,000 $1,664,647

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Oneunited Bank 100 Franklin St, Suite 600 Boston, MA 2110 Full Service B&M $2,319
Oneunited Bank 2343 Washington Street Boston, MA 2108 Full Service B&M $16,650
Oneunited Bank 3275 N.W. 79th Street Miami, FL 33147 Full Service B&M $47,107
Oneunited Bank 3683 Crenshaw Boulevard Los Angeles, CA 90016 Full Service B&M $371,611
Oneunited Bank 648 Warren Street Dorchester, MA 2121 Full Service B&M $16,410

For 2021, Oneunited Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $16,978
Net interest income $13,475
Total noninterest income $19,991
Gross Fiduciary activities income $0
Service charges on deposit accounts $11,741
Trading account gains and fees $0
Additional Noninterest Income $8,250
Pre-tax net operating income $6,040
Securities gains (or losses, -) $-2,704
Income before extraordinary items $2,116
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $2,116
Minority interest net income $0
Net income $2,116
Sale, conversion, retirement of capital stock, net $15,928
Net operating income $4,252

Oneunited Bank's gross interest income from loans was $16,978,000.
Oneunited Bank's net interest income from loans was $13,475,000.
Oneunited Bank's fee based income from loans was $11,741,000.
Oneunited Bank's net income from loans was $2,116,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,503
Provision for credit losses $25
Total noninterest expense $27,401
Salaries and employee benefits $10,433
Premises and equipment expense $2,630
Additional noninterest expense $14,338
Applicable income taxes $1,220
Net charge-offs $5
Cash dividends $0

Oneunited Bank's interest expense for loans was $3,503,000.
Oneunited Bank's payroll and benefits expense were $10,433,000.
Oneunited Bank's property, plant and equipment expenses $2,630,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 10.0%
Personal loans 2.0%
Credit card loans 3.7%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $471,051
Deposits held in domestic offices $471,051
Deposits by Individuals, partnerships, and corporations $384,656
Deposits by U.S. Government $223
Deposits by States and political subdivisions in the U.S. $46,507
Deposits by Commercial banks and other depository institutions in U.S. $39,665
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $135,293
Demand deposits $87,046
Nontransaction accounts $335,758
Money market deposit accounts (MMDAs) $33,684
Other savings deposits (excluding MMDAs) $94,499
Total time deposits $207,576
Total time and savings deposits $384,005
Noninterest-bearing deposits $87,046
Interest-bearing deposits $384,006
Retail deposits $317,298
IRAs and Keogh plan accounts $2,329
Brokered deposits $127,053
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $643,447
Cash & Balances due from depository institutions $54,123
Interest-bearing balances $49,655
Total securities $116,461
Federal funds sold & reverse repurchase $0
Net loans and leases $448,239
Loan and leases loss allowance $1,779
Trading account assets $0
Bank premises and fixed assets $6,511
Other real estate owned $0
Goodwill and other intangibles $107
All other assets $18,006

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $643,447
Total Liabilities $582,631
Total deposits $471,051
Interest-bearing deposits $384,006
Deposits held in domestic offices $471,051
% insured (estimated) $87
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $109,920
Subordinated debt $0
All other liabilities $1,660

Issued Loan Types

Type Value (in 000's)
Net loans and leases $448,239
Loan and leases loss allowance $1,779
Total loans and leases (domestic) $450,018
All real estate loans $447,019
Real estate loans in domestic offices $447,019
Construction and development loans $0
Residential 1-4 family construction $0
Other construction, all land development and other land $0
Loans secured by nonfarm nonresidential properties $3,681
Nonfarm nonresidential secured by owner-occupied properties $3,265
Commercial real estate & other non-farm, non-residential $416
Multifamily residential real estate $428,401
1-4 family residential loans $14,937
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $140
To non-U.S. addressees $0
Loans to individuals $2,859
Credit card loans $1,984
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $875
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $115
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $2,038
Non 1-4 family restructured loans & leases $1,605
Total loans and leases (foreign) $0

OneUnited Bank had $448,239,000 of loans outstanding in 2021. $447,019,000 of loans were in real estate loans. $0 of loans were in development loans. $428,401,000 of loans were in multifamily mortgage loans. $14,937,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,984,000 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 9 $2,457 $273,000
Nonfarm, nonresidential loans - <$100k 1 $66 $66,000
Nonfarm, nonresidential loans - $100-250k 1 $149 $149,000
Nonfarm, nonresidential loans - $250k-1MM 7 $2,242 $320,286
Commercial & Industrial, US addressed loans - <$1MM 3 $140 $46,667
Commercial & Industrial, US addressed loans - <$100k 2 $25 $12,500
Commercial & Industrial, US addressed loans - $100-250k 1 $115 $115,000