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 markets by origination volume include: Los Angeles, Riverside, San Diego, and Fresno among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Universal Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
29Origination Dollar Volume (All Markets)
$42,885,000Top 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) | 22 | $37,390,000 | $1,699,545 | $0 | 0.00% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $3,570,000 | $892,500 | $0 | 0.00% |
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,670,000 | $835,000 | $0 | 0.00% |
FRESNO, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 29 | $42,885,000 | $1,478,793 | $0 | 0.00% |
For 2019, Universal Bank's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2019, Universal Bank's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 29 | $42,885,000 | $1,478,793 | $0 | 0.00% |
For 2019, Universal Bank's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2019 saw Universal Bank place emphasis on $1MM+ loans with 17 originations, totaling $37,875,000 in origination value.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 29 | $42,885,000 | $1,478,793 | $0 | 0.00% |
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 23 | $36,535,000 | $1,588,478 | $0 | 0.00% |
White | 6 | $6,350,000 | $1,058,333 | $0 | 0.00% |
Approval Rates
Total approvals of all applications94.29%
Universal Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.66%
Universal Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 29 | $42,885,000 | $1,478,793 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 27 | $41,545,000 | $1,538,704 |
Single Family (1-4 Units):Site-Built | 2 | $1,340,000 | $670,000 |
Complaints
Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Unifirst Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |