Universal Bank Mortgage Rates, Fees & Info
WEST COVINA, CALEI: 549300UI7UEQIFGW1I66
Tax ID: 33-0531857
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Mortgage Data
Review & Overview
Universal Bank is a smaller bank specializing in Cash Out Refi loans. Universal Bank has a high proportion of conventional loans. Their top two markets are Los Angeles and San Francisco .Universal Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
22Origination Dollar Volume (All Markets)
$27,790,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 21 | $24,585,000 | $1,170,714 | $0 | 0.00% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $3,205,000 | $3,205,000 | $0 | 0.00% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 22 | $27,790,000 | $1,263,182 | $0 | 0.00% |
For 2018, Universal Bank's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
For 2018, Universal Bank's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 22 | $27,790,000 | $1,263,182 | $0 | 0.00% |
For 2018, Universal Bank's most frequently cited loan duration was Other, with 22 originations.
Loan Sizing
2018 saw Universal Bank place emphasis on $1MM+ loans with 8 originations, totaling $19,280,000 in origination value.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 22 | $27,790,000 | $1,263,182 | $0 | 0.00% |
Ethnicity Mix
Approval Rates
Total approvals of all applications82.14%
Universal Bank has a below average approval rate.
Pick Rate
Approvals leading to origination95.45%
Universal Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 22 | $27,790,000 | $1,263,182 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 21 | $26,505,000 | $1,262,143 |
Single Family (1-4 Units):Site-Built | 1 | $1,285,000 | $1,285,000 |
Complaints
Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
University Lending Group, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |