Empire National Bank Mortgage Rates, Fees & Info

Islandia, NY

LEI: 549300UZLRT6BCR3ZQ32

Tax ID: 26-1253876

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Empire National Bank is a smaller bank specializing in Refi loans. Empire National Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    Empire National Bank has an 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

    72

    Origination Dollar Volume (All Markets)

    $138,900,000

    Top 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 72 $138,900,000 $1,929,167 $0 0.00%
    Empire National Bank's top markets include and New York among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $138,900,000 $1,929,167 $0 0.00%

    For 2018, Empire National Bank's most frequently originated type of loan was Conventional, with 72 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 58 $121,920,000 $2,102,069 $0 0.00%
    Home Purchase 13 $15,675,000 $1,205,769 $0 0.00%
    Other 1 $1,305,000 $1,305,000 $0 0.00%

    For 2018, Empire National Bank's most frequently cited loan purpose was Refi, with 58 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 72 $138,900,000 $1,929,167 $0 0.00%

    For 2018, Empire National Bank's most frequently cited loan duration was Other, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 40 $117,280,000 $2,932,000 $0 0.00%
    $600k-1MM 21 $16,585,000 $789,762 $0 0.00%
    $400k-600k 7 $3,595,000 $513,571 $0 0.00%
    $200k-400k 4 $1,440,000 $360,000 $0 0.00%

    2018 saw Empire National Bank place emphasis on $1MM+ loans with 40 originations, totaling $117,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 12 $12,590,000 $1,049,167 $0 0.00%
    $150k-250k 6 $3,240,000 $540,000 $0 0.00%
    $100k-150k 1 $385,000 $385,000 $0 0.00%

    Empire National Bank lent most frequently to those with incomes in the $250k+ range, with 12 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 72 $138,900,000 $1,929,167 $0 0.00%

    Empire National Bank lent most frequently to those with DTI ratios of Exempt%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 50 $119,630,000 $2,392,600 $0 0.00%
    White 17 $15,025,000 $883,824 $0 0.00%
    Not provided 5 $4,245,000 $849,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.81%

    Empire National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    55.56%

    Empire National 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 72 $138,900,000 $1,929,167

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 51 $119,805,000 $2,349,118
    Single Family (1-4 Units):Site-Built 21 $19,095,000 $909,286

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    EMBRACE HOME LOANS Conventional home mortgage Trouble during payment process 1 14.3%
    EMBRACE HOME LOANS FHA mortgage Struggling to pay mortgage 1 14.3%
    EMBRACE HOME LOANS FHA mortgage Trouble during payment process 1 14.3%
    EMBRACE HOME LOANS Other type of mortgage Struggling to pay mortgage 1 14.3%
    EMBRACE HOME LOANS VA mortgage Trouble during payment process 3 42.9%