Certified Funding L.p. Mortgage Rates, Fees & Info
DALLAS, TX
LEI: 549300TN9GZ5XRCOXX47
Tax ID: 75-2930700
Overview
Certified Funding L.p. is a
smaller
mortgage company
specializing in
Home Purchase
loans.
Certified Funding L.p. has a high proportion of conventional loans.
Their top markets include Dallas, Houston, Austin, San Antonio, and Midland among others. Certified Funding L.p. has
a below average
approval rate for mortages when compared nationally.
Originations
1,482
Origination Dollar Volume (All Markets)
$183,500,000
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)
|
809
|
$97,275,000 |
$120,241 |
$696 |
5.27% |
|
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)
|
292
|
$35,840,000 |
$122,740 |
$683 |
5.21% |
|
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)
|
261
|
$35,395,000 |
$135,613 |
$697 |
5.21% |
|
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)
|
57
|
$7,455,000 |
$130,789 |
$1,021 |
5.24% |
|
MIDLAND, TX (FHA|USDA|VA)
|
8
|
$1,010,000 |
$126,250 |
$864 |
5.25% |
|
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)
|
7
|
$785,000 |
$112,143 |
$796 |
5.25% |
|
LUBBOCK, TX (FHA|USDA|VA)
|
5
|
$665,000 |
$133,000 |
$701 |
4.70% |
|
SHERMAN-DENISON, TX (FHA|USDA|VA)
|
6
|
$630,000 |
$105,000 |
$633 |
5.00% |
|
Athens, TX (FHA|USDA|VA)
|
4
|
$610,000 |
$152,500 |
$677 |
5.87% |
|
Outside of Metro Areas
|
4 |
$610,000 |
$152,500 |
$576 |
5.31% |
|
TYLER, TX (FHA|USDA|VA)
|
6
|
$540,000 |
$90,000 |
$1,133 |
5.00% |
|
WACO, TX (FHA|USDA|VA)
|
4
|
$520,000 |
$130,000 |
$796 |
5.00% |
|
KILLEEN-TEMPLE, TX (FHA|USDA|VA)
|
4
|
$490,000 |
$122,500 |
$537 |
5.31% |
|
Corsicana, TX (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$462 |
5.25% |
|
Huntsville, TX (FHA|USDA|VA)
|
2
|
$300,000 |
$150,000 |
$809 |
5.13% |
|
ODESSA, TX (FHA|USDA|VA)
|
3
|
$275,000 |
$91,667 |
$791 |
5.08% |
|
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)
|
3
|
$265,000 |
$88,333 |
$463 |
5.08% |
|
Rockport, TX (FHA|USDA|VA)
|
2
|
$170,000 |
$85,000 |
$600 |
5.25% |
|
CORPUS CHRISTI, TX (FHA|USDA|VA)
|
1
|
$125,000 |
$125,000 |
$486 |
5.75% |
|
EL PASO, TX (FHA|USDA|VA)
|
1
|
$105,000 |
$105,000 |
$879 |
5.25% |
|
Granbury, TX (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$470 |
5.50% |
|
Mineral Wells, TX (FHA|USDA|VA)
|
1
|
$45,000 |
$45,000 |
$1,182 |
5.50% |
Certified Funding L.p.'s top markets include Dallas, Houston, Austin, San Antonio, and Midland among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
1,482 |
$183,500,000 |
$123,819 |
$708 |
5.24% |
For the 2021 period, Certified Funding L.p.'s most frequently
originated loan type
of loans were Conventional, with 1,482 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
1,103 |
$146,435,000 |
$132,761 |
$724 |
5.25% |
| Refi |
187 |
$18,745,000 |
$100,241 |
$635 |
5.10% |
| Home Improvement |
173 |
$16,195,000 |
$93,613 |
$699 |
5.42% |
| Cash Out Refi |
19 |
$2,125,000 |
$111,842 |
$612 |
4.72% |
For the 2021, Certified Funding L.p.'s most frequently cited loan
purpose
of loans were Home Purchase, with 1,103
originations.
The 2nd most popular reason of loans were Refi,
with 187 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 15 Year |
1,315 |
$166,325,000 |
$126,483 |
$709 |
5.22% |
| 20 Year |
150 |
$15,490,000 |
$103,267 |
$708 |
5.51% |
| 10 Year |
17 |
$1,685,000 |
$99,118 |
$661 |
4.57% |
For the 2021, Certified Funding L.p.'s most frequently cited loan
length
of loans were 15 Year, with 1,315 originations.
The 2nd most popular length of loans were 20 Year,
with 150 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
1,428 |
$176,400,000 |
$123,529 |
| $2k-3k |
23 |
$2,415,000 |
$105,000 |
| $3k-4k |
13 |
$2,195,000 |
$168,846 |
| $1k-2k |
11 |
$705,000 |
$64,091 |
| $5k+ |
4 |
$1,040,000 |
$260,000 |
$0 of loans were Certified Funding L.p.'s
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 1,428 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 5-6% |
816 |
$101,730,000 |
$124,669 |
| 4-5% |
601 |
$75,185,000 |
$125,100 |
| 6-7% |
61 |
$5,995,000 |
$98,279 |
| 7-8% |
3 |
$325,000 |
$108,333 |
| 2.5-3% |
1 |
$265,000 |
$265,000 |
During 2021, Certified Funding L.p.'s average interest
rate of loans were 0.00%, while their
most frequently originated rate bucket of loans were 5-6%,
with 816 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100,000 or less |
693 |
$52,615,000 |
$75,924 |
$673 |
5.25% |
| $100k-200k |
591 |
$82,025,000 |
$138,790 |
$725 |
5.26% |
| $200k-400k |
198 |
$48,860,000 |
$246,768 |
$785 |
5.15% |
2021 saw Certified Funding L.p. place emphasis on
$100,000 or less loans
with 693 originations, totaling
$52,615,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $150k-250k |
754 |
$90,770,000 |
$120,385 |
$710 |
5.25% |
| $250k+ |
523 |
$75,025,000 |
$143,451 |
$717 |
5.19% |
| $100k-150k |
182 |
$16,310,000 |
$89,615 |
$692 |
5.33% |
| $75k-100k |
17 |
$1,115,000 |
$65,588 |
$608 |
5.56% |
| $50k-75k |
5 |
$225,000 |
$45,000 |
$543 |
5.15% |
| $50k or less |
1 |
$55,000 |
$55,000 |
$532 |
4.75% |
Certified Funding L.p. lent most frequently to those with incomes in the
$150k-250k range, with
754 originations.
The second most popular income band? $250k+,
with 523 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30-36% |
360 |
$43,360,000 |
$120,444 |
$703 |
5.22% |
| 20-30% |
300 |
$33,590,000 |
$111,967 |
$673 |
5.19% |
| 37% |
77 |
$10,485,000 |
$136,169 |
$623 |
5.34% |
| 38% |
77 |
$10,595,000 |
$137,597 |
$689 |
5.26% |
| 43% |
75 |
$9,105,000 |
$121,400 |
$687 |
5.22% |
| 40% |
74 |
$9,850,000 |
$133,108 |
$741 |
5.30% |
| 42% |
73 |
$9,965,000 |
$136,507 |
$664 |
5.26% |
| 39% |
67 |
$8,175,000 |
$122,015 |
$681 |
5.32% |
| 44% |
65 |
$8,685,000 |
$133,615 |
$745 |
5.23% |
| <20% |
64 |
$7,970,000 |
$124,531 |
$698 |
5.10% |
| 36% |
63 |
$7,735,000 |
$122,778 |
$835 |
5.27% |
| 41% |
62 |
$8,470,000 |
$136,613 |
$848 |
5.24% |
| 45% |
38 |
$4,660,000 |
$122,632 |
$789 |
5.46% |
| 46% |
31 |
$4,055,000 |
$130,806 |
$822 |
5.37% |
| 48% |
22 |
$2,610,000 |
$118,636 |
$703 |
5.33% |
| 47% |
18 |
$2,440,000 |
$135,556 |
$784 |
5.34% |
| 49% |
15 |
$1,485,000 |
$99,000 |
$660 |
5.25% |
Certified Funding L.p. lent most frequently to those with DTI ratios
of 30-36%, with
360 originations.
The next most common DTI ratio? 20-30%,
with 300 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
1,034 |
$127,660,000 |
$123,462 |
$689 |
5.24% |
| Not provided |
205 |
$25,205,000 |
$122,951 |
$768 |
5.25% |
| Asian |
135 |
$17,215,000 |
$127,519 |
$813 |
5.22% |
| Black |
86 |
$10,260,000 |
$119,302 |
$650 |
5.28% |
| Asian Indian |
10 |
$1,460,000 |
$146,000 |
$602 |
5.15% |
| American Indian |
6 |
$770,000 |
$128,333 |
$734 |
5.12% |
| Korean |
1 |
$285,000 |
$285,000 |
$611 |
4.50% |
| Native Hawaiian |
1 |
$185,000 |
$185,000 |
$611 |
5.50% |
| Other Asian |
2 |
$160,000 |
$80,000 |
$495 |
5.12% |
| Filipino |
1 |
$155,000 |
$155,000 |
$760 |
5.50% |
| Other Pacific Islander |
1 |
$145,000 |
$145,000 |
$566 |
5.50% |
Approval Rates
Total approvals of all applications
62.38%
Certified Funding L.p. has a low approval rate. They may have poor
market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
1,482 |
$183,500,000 |
$123,819 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
1,482 |
$183,500,000 |
$123,819 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
413 |
$80,955,000 |
$196,017 |
$765 |
5.29% |
| 60-80% |
1 |
$265,000 |
$265,000 |
$132 |
2.75% |
| Under 20% |
1,068 |
$102,280,000 |
$95,768 |
$687 |
5.22% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Credible Labs Inc. |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
4 |
100.0% |
