Certified Funding L.p. Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 549300TN9GZ5XRCOXX47

Tax ID: 75-2930700

2021 Data | 2020 Data | 2019 Data | 2018 Data


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%