Securitynational Mortgage Company

SALT LAKE CITY, UT 84123

LEI: 549300VQUTI5IU7GXT57

Tax ID: 87-0512002

2019 Data | 2018 Data


Overview

Securitynational Mortgage Company is a small mortgage company specializing in Home Purchase loans. Securitynational Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Salt Lake City, Provo, Phoenix, Las Vegas, and Austin among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Securitynational Mortgage Company is typically a medium-low fee high fee lendor.


Originations

10,509

Origination Dollar Volume (All Markets)

$2,432,545,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,027 $1,625,635,000 $231,341
FHA 2,930 $658,530,000 $224,754
VA 433 $122,705,000 $283,383
USDA 119 $25,675,000 $215,756

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 7,781 $1,740,205,000 $223,648
Home Improvement 136 $33,070,000 $243,162
Refi 1,429 $382,535,000 $267,694
Cash Out Refi 1,163 $276,735,000 $237,949

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
SALT LAKE CITY, UT 2,188 $563,730,000 $257,646
PROVO-OREM, UT 1,044 $296,730,000 $284,224
PHOENIX-MESA-CHANDLER, AZ 1,049 $231,625,000 $220,806
LAS VEGAS-HENDERSON-PARADISE, NV 612 $156,590,000 $255,866
Outside of Metro Areas 564 $131,270,000 $232,748
AUSTIN-ROUND ROCK-GEORGETOWN, TX 469 $128,485,000 $273,955
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 473 $94,065,000 $198,869
OGDEN-CLEARFIELD, UT 384 $88,020,000 $229,219
FORT WORTH-ARLINGTON-GRAPEVINE, TX 256 $55,630,000 $217,305
TAMPA-ST. PETERSBURG-CLEARWATER, FL 278 $52,840,000 $190,072
CAPE CORAL-FORT MYERS, FL 243 $46,305,000 $190,556
DALLAS-PLANO-IRVING, TX 197 $42,985,000 $218,198
ORLANDO-KISSIMMEE-SANFORD, FL 179 $40,255,000 $224,888
EL PASO, TX 259 $38,015,000 $146,776
INDIANAPOLIS-CARMEL-ANDERSON, IN 189 $32,185,000 $170,291
SEATTLE-BELLEVUE-KENT, WA 72 $31,020,000 $430,833
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 94 $25,160,000 $267,660
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 77 $23,025,000 $299,026
SAN ANTONIO-NEW BRAUNFELS, TX 100 $22,940,000 $229,400
ST. GEORGE, UT 76 $21,970,000 $289,079
MEMPHIS, TN-MS-AR 216 $21,160,000 $97,963
COLUMBUS, OH 62 $11,890,000 $191,774
TACOMA-LAKEWOOD, WA 31 $11,805,000 $380,806
BROWNSVILLE-HARLINGEN, TX 80 $10,720,000 $134,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 31 $10,575,000 $341,129
LOS ANGELES-LONG BEACH-GLENDALE, CA 24 $8,640,000 $360,000
CLARKSVILLE, TN-KY 44 $8,120,000 $184,545
LAKE HAVASU CITY-KINGMAN, AZ 41 $7,765,000 $189,390
URBAN HONOLULU, HI 16 $7,430,000 $464,375
KAHULUI-WAILUKU-LAHAINA, HI 10 $7,230,000 $723,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 17 $6,685,000 $393,235
BIRMINGHAM-HOOVER, AL 85 $6,625,000 $77,941
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 41 $6,615,000 $161,341
STOCKTON, CA 16 $6,560,000 $410,000
OCALA, FL 37 $6,385,000 $172,568
NORTH PORT-SARASOTA-BRADENTON, FL 27 $5,395,000 $199,815
PRESCOTT VALLEY-PRESCOTT, AZ 20 $5,290,000 $264,500
IDAHO FALLS, ID 13 $4,905,000 $377,308
MIAMI-MIAMI BEACH-KENDALL, FL 18 $4,870,000 $270,556
CHICAGO-NAPERVILLE-EVANSTON, IL 16 $4,810,000 $300,625
SACRAMENTO-ROSEVILLE-FOLSOM, CA 16 $4,540,000 $283,750
DENVER-AURORA-LAKEWOOD, CO 12 $4,310,000 $359,167
LAKELAND-WINTER HAVEN, FL 26 $4,300,000 $165,385
PUNTA GORDA, FL 22 $4,180,000 $190,000
NEW ORLEANS-METAIRIE, LA 26 $4,000,000 $153,846
LAREDO, TX 29 $3,705,000 $127,759
JOHNSON CITY, TN 23 $3,605,000 $156,739
ANAHEIM-SANTA ANA-IRVINE, CA 7 $3,515,000 $502,143
KILLEEN-TEMPLE, TX 19 $3,225,000 $169,737
OXNARD-THOUSAND OAKS-VENTURA, CA 6 $3,210,000 $535,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 37 $3,015,000 $81,486
KANSAS CITY, MO-KS 29 $2,805,000 $96,724
NAPA, CA 1 $2,765,000 $2,765,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 21 $2,725,000 $129,762
LOGAN, UT-ID 13 $2,685,000 $206,538
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 16 $2,640,000 $165,000
CINCINNATI, OH-KY-IN 24 $2,470,000 $102,917
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 6 $2,400,000 $400,000
GARY, IN 29 $2,365,000 $81,552
JACKSON, MS 39 $2,315,000 $59,359
FRESNO, CA 6 $2,240,000 $373,333
MONTGOMERY, AL 30 $2,180,000 $72,667
OKLAHOMA CITY, OK 29 $2,125,000 $73,276
ST. LOUIS, MO-IL 18 $2,050,000 $113,889
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 6 $2,010,000 $335,000
OAKLAND-BERKELEY-LIVERMORE, CA 5 $1,885,000 $377,000
MIDLAND, TX 5 $1,855,000 $371,000
NAPLES-MARCO ISLAND, FL 9 $1,835,000 $203,889
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 3 $1,795,000 $598,333
MERCED, CA 5 $1,655,000 $331,000
BOISE CITY, ID 8 $1,630,000 $203,750
HUNTSVILLE, AL 11 $1,605,000 $145,909
DAYTON-KETTERING, OH 18 $1,570,000 $87,222
GREENVILLE-ANDERSON, SC 8 $1,520,000 $190,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 6 $1,470,000 $245,000
WACO, TX 6 $1,450,000 $241,667
JACKSONVILLE, FL 12 $1,400,000 $116,667
KINGSPORT-BRISTOL, TN-VA 13 $1,395,000 $107,308
MODESTO, CA 4 $1,390,000 $347,500
MORRISTOWN, TN 10 $1,380,000 $138,000
LONGVIEW, TX 8 $1,370,000 $171,250
COLORADO SPRINGS, CO 5 $1,335,000 $267,000
BALTIMORE-COLUMBIA-TOWSON, MD 7 $1,325,000 $189,286
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 11 $1,275,000 $115,909
HAMMOND, LA 6 $1,230,000 $205,000
SPARTANBURG, SC 6 $1,190,000 $198,333
COLLEGE STATION-BRYAN, TX 6 $1,120,000 $186,667
HOUMA-THIBODAUX, LA 6 $1,040,000 $173,333
KNOXVILLE, TN 4 $1,020,000 $255,000
CARSON CITY, NV 2 $1,000,000 $500,000
SIERRA VISTA-DOUGLAS, AZ 5 $925,000 $185,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 3 $915,000 $305,000
CORPUS CHRISTI, TX 5 $915,000 $183,000
GREELEY, CO 4 $870,000 $217,500
BELLINGHAM, WA 2 $840,000 $420,000
POCATELLO, ID 5 $805,000 $161,000
PUEBLO, CO 3 $805,000 $268,333
BREMERTON-SILVERDALE-PORT ORCHARD, WA 2 $800,000 $400,000
TYLER, TX 5 $785,000 $157,000
MILWAUKEE-WAUKESHA, WI 5 $755,000 $151,000
MCALLEN-EDINBURG-MISSION, TX 5 $745,000 $149,000
LAS CRUCES, NM 3 $695,000 $231,667
DAPHNE-FAIRHOPE-FOLEY, AL 3 $685,000 $228,333
SAN RAFAEL, CA 1 $675,000 $675,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $675,000 $675,000
LUBBOCK, TX 3 $655,000 $218,333
JACKSON, TN 5 $645,000 $129,000
ALBUQUERQUE, NM 2 $640,000 $320,000
MUNCIE, IN 2 $630,000 $315,000
SAN LUIS OBISPO-PASO ROBLES, CA 1 $625,000 $625,000
HOMOSASSA SPRINGS, FL 3 $595,000 $198,333
ABILENE, TX 2 $570,000 $285,000
DETROIT-DEARBORN-LIVONIA, MI 6 $570,000 $95,000
RACINE, WI 2 $560,000 $280,000
ALBANY-LEBANON, OR 2 $560,000 $280,000
SALEM, OR 2 $560,000 $280,000
SHERMAN-DENISON, TX 4 $550,000 $137,500
BEAUMONT-PORT ARTHUR, TX 3 $545,000 $181,667
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 2 $510,000 $255,000
LONGVIEW, WA 3 $505,000 $168,333
VISALIA, CA 2 $500,000 $250,000
ODESSA, TX 2 $490,000 $245,000
KALAMAZOO-PORTAGE, MI 1 $485,000 $485,000
YORK-HANOVER, PA 1 $485,000 $485,000
CLEVELAND-ELYRIA, OH 7 $475,000 $67,857
WINSTON-SALEM, NC 2 $450,000 $225,000
BILLINGS, MT 1 $445,000 $445,000
WARREN-TROY-FARMINGTON HILLS, MI 4 $430,000 $107,500
SALISBURY, MD-DE 3 $425,000 $141,667
TUCSON, AZ 2 $420,000 $210,000
YAKIMA, WA 1 $395,000 $395,000
HANFORD-CORCORAN, CA 4 $380,000 $95,000
SAN ANGELO, TX 2 $360,000 $180,000
GRAND JUNCTION, CO 1 $345,000 $345,000
WENATCHEE, WA 1 $345,000 $345,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $340,000 $170,000
TOLEDO, OH 3 $335,000 $111,667
CORVALLIS, OR 1 $325,000 $325,000
SPOKANE-SPOKANE VALLEY, WA 2 $320,000 $160,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $305,000 $305,000
COLUMBUS, GA-AL 3 $305,000 $101,667
SALINAS, CA 1 $265,000 $265,000
MACON-BIBB COUNTY, GA 2 $260,000 $130,000
TUSCALOOSA, AL 3 $255,000 $85,000
CHATTANOOGA, TN-GA 1 $245,000 $245,000
AMARILLO, TX 1 $235,000 $235,000
SHEBOYGAN, WI 2 $220,000 $110,000
TWIN FALLS, ID 1 $215,000 $215,000
NEW BERN, NC 1 $215,000 $215,000
HAGERSTOWN-MARTINSBURG, MD-WV 1 $215,000 $215,000
CHARLESTON-NORTH CHARLESTON, SC 1 $215,000 $215,000
BATON ROUGE, LA 1 $215,000 $215,000
MORGANTOWN, WV 2 $210,000 $105,000
BRIDGEPORT-STAMFORD-NORWALK, CT 1 $205,000 $205,000
ELKHART-GOSHEN, IN 1 $205,000 $205,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $205,000 $205,000
PITTSBURGH, PA 3 $195,000 $65,000
BOWLING GREEN, KY 1 $175,000 $175,000
FLAGSTAFF, AZ 1 $175,000 $175,000
BAKERSFIELD, CA 1 $175,000 $175,000
MICHIGAN CITY-LA PORTE, IN 3 $175,000 $58,333
FAYETTEVILLE, NC 2 $170,000 $85,000
PORT ST. LUCIE, FL 2 $160,000 $80,000
AKRON, OH 1 $145,000 $145,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $145,000 $145,000
SEBRING-AVON PARK, FL 1 $145,000 $145,000
PANAMA CITY, FL 1 $135,000 $135,000
FOND DU LAC, WI 1 $135,000 $135,000
GAINESVILLE, GA 1 $125,000 $125,000
FORT WAYNE, IN 1 $125,000 $125,000
RICHMOND, VA 1 $115,000 $115,000
ROME, GA 1 $85,000 $85,000
COLUMBUS, IN 1 $85,000 $85,000
EVANSVILLE, IN-KY 1 $75,000 $75,000
FLORENCE-MUSCLE SHOALS, AL 1 $75,000 $75,000
GULFPORT-BILOXI, MS 1 $75,000 $75,000
LAWTON, OK 1 $65,000 $65,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 69 $3,295,000 $47,754
2.5-3% 21 $4,625,000 $220,238
3-4% 2,997 $838,945,000 $279,928
4-5% 4,538 $1,062,680,000 $234,174
5-6% 2,137 $409,565,000 $191,654
6-7% 439 $71,095,000 $161,948
7-8% 255 $29,185,000 $114,451
Over 8% 53 $13,155,000 $248,208

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,415 $73,155,000 $51,700
$100k-200k 3,096 $483,630,000 $156,211
$200k-400k 5,059 $1,393,485,000 $275,447
$400k-600k 812 $375,240,000 $462,118
$600k-1000k 108 $76,400,000 $707,407
$Over $1MM 19 $30,635,000 $1,612,368

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 129 $21,635,000 $167,713
40-60% 505 $111,185,000 $220,168
60-80% 2,931 $698,335,000 $238,258
80-100% 6,289 $1,557,965,000 $247,729
Over 100% 121 $35,795,000 $295,826
Under 20% 533 $7,385,000 $13,856

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,732 $496,400,000 $286,605
$150k-250k 862 $260,210,000 $301,868
$50k-75k 3,343 $688,045,000 $205,817
$50k-or less 2,365 $397,785,000 $168,197
$75k-100k 1,887 $466,295,000 $247,109
$Over $250k 318 $118,840,000 $373,711

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 8,487 $1,949,035,000 $229,649
Asian 674 $189,150,000 $280,638
Not provided 701 $158,995,000 $226,812
Black 523 $108,425,000 $207,314
Native Hawaiian 45 $12,515,000 $278,111
American Indian 53 $9,925,000 $187,264
Other Pacific Islander 8 $1,470,000 $183,750
Asian Indian 11 $1,395,000 $126,818
Korean 2 $860,000 $430,000
Filipino 3 $505,000 $168,333
Other Asian 2 $270,000 $135,000

Approval Rates

Total approvals of all applications
94.26%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
53.92%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
100.0 1 $95,000 $95,000
12309.4 1 $145,000 $145,000
13905.84 1 $155,000 $155,000
15421.75 1 $255,000 $255,000
18550.2 1 $245,000 $245,000
18908.04 1 $225,000 $225,000
19724.31 1 $235,000 $235,000
21040.92 1 $255,000 $255,000
21761.88 1 $285,000 $285,000
31636.02 1 $375,000 $375,000
48240.0 1 $875,000 $875,000
6170.0 1 $155,000 $155,000
NA 10,497 $2,429,245,000 $231,423

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 714 $65,600,000 $91,877
$1k-2k 3,293 $725,785,000 $220,402
$2k-3k 1,583 $296,775,000 $187,476
$3k-4k 2,906 $688,980,000 $237,089
$5k+ 1,678 $588,360,000 $350,632

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 121 $17,105,000 $141,364
Single Family (1-4 Units):Site-Built 10,388 $2,415,440,000 $232,522