Pacific Service Mortgage Rates, Fees & Info
Concord, CALEI: 549300XR3B6372SESA46
Tax ID: 94-6061277
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Pacific Service is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Pacific Service has a high proportion of conventional loans. Their top markets include San Francisco, Sacramento, Fresno, Vallejo, and San Jose among others. Pacific Service has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pacific Service is typically a low fee lendor.Originations
596Origination Dollar Volume (All Markets)
$190,760,000Awards
PACIFIC SERVICE - 2021
PACIFIC SERVICE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Pacific Service's average 30 year fixed rate mortgage of loans were
3.05%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.1%.
Relative Fees
Pacific Service's average total fees for a 30 year fixed rate
mortgage are $3,136.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 226 | $82,880,000 | $366,726 | $3,080 | 3.20% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 55 | $17,285,000 | $314,273 | $2,837 | 3.02% |
| FRESNO, CA (FHA|USDA|VA) | 68 | $15,820,000 | $232,647 | $2,739 | 3.00% |
| VALLEJO, CA (FHA|USDA|VA) | 31 | $10,295,000 | $332,097 | $3,286 | 3.21% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 20 | $9,800,000 | $490,000 | $3,336 | 2.90% |
| STOCKTON, CA (FHA|USDA|VA) | 22 | $7,130,000 | $324,091 | $2,690 | 3.27% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 18 | $4,710,000 | $261,667 | $2,898 | 3.32% |
| CHICO, CA (FHA|USDA|VA) | 15 | $4,215,000 | $281,000 | $3,290 | 2.90% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 15 | $3,965,000 | $264,333 | $2,867 | 3.71% |
| MODESTO, CA (FHA|USDA|VA) | 13 | $3,855,000 | $296,538 | $2,763 | 2.96% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 8 | $3,090,000 | $386,250 | $2,682 | 3.28% |
| SALINAS, CA (FHA|USDA|VA) | 7 | $2,805,000 | $400,714 | $3,234 | 2.98% |
| Outside of Metro Areas | 8 | $2,610,000 | $326,250 | $3,275 | 3.02% |
| REDDING, CA (FHA|USDA|VA) | 12 | $2,340,000 | $195,000 | $2,812 | 3.26% |
| Red Bluff, CA (FHA|USDA|VA) | 7 | $2,235,000 | $319,286 | $3,505 | 2.77% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 10 | $2,160,000 | $216,000 | $2,692 | 2.94% |
| NAPA, CA (FHA|USDA|VA) | 4 | $1,970,000 | $492,500 | $3,573 | 3.00% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $2,606 | 2.83% |
| VISALIA, CA (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $2,709 | 2.90% |
| MERCED, CA (FHA|USDA|VA) | 8 | $1,410,000 | $176,250 | $2,902 | 3.59% |
| Sonora, CA (FHA|USDA|VA) | 5 | $1,385,000 | $277,000 | $2,909 | 2.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $3,232 | 2.96% |
| YUBA CITY, CA (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $2,273 | 3.50% |
| MADERA, CA (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $2,673 | 3.25% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $4,025 | 2.88% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $3,519 | 2.91% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,224 | 2.81% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,805 | 3.13% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,547 | 2.81% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,357 | 3.06% |
| Fernley, NV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,059 | 2.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,967 | 2.50% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.50% |
Pacific Service's top markets include San Francisco, Sacramento, Fresno, Vallejo, and San Jose among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 596 | $190,760,000 | $320,067 | $2,986 | 3.13% |
For the 2021 period, Pacific Service's most frequently originated loan type of loans were Conventional, with 596 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 265 | $90,335,000 | $340,887 | $2,856 | 3.01% |
| Refi | 211 | $66,265,000 | $314,052 | $2,727 | 2.81% |
| Home Purchase | 71 | $30,975,000 | $436,268 | $4,198 | 2.96% |
| Home Improvement | 29 | $1,825,000 | $62,931 | $0 | 5.09% |
| Other | 20 | $1,360,000 | $68,000 | $0 | 6.04% |
For the 2021, Pacific Service's most frequently cited loan purpose of loans were Cash Out Refi, with 265 originations. The 2nd most popular reason of loans were Refi, with 211 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 363 | $140,245,000 | $386,350 | $3,136 | 3.05% |
| 15 Year | 132 | $27,710,000 | $209,924 | $2,670 | 3.28% |
| 20 Year | 54 | $16,130,000 | $298,704 | $2,679 | 2.81% |
| Other | 22 | $2,850,000 | $129,545 | $2,619 | 3.79% |
| 10 Year | 18 | $3,520,000 | $195,556 | $2,506 | 3.41% |
| 5 Year | 7 | $305,000 | $43,571 | $0 | 4.49% |
For the 2021, Pacific Service's most frequently cited loan length of loans were 30 Year, with 363 originations. The 2nd most popular length of loans were 15 Year, with 132 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 483 | $165,395,000 | $342,433 |
| $1k-2k | 16 | $4,270,000 | $266,875 |
| $2k-3k | 14 | $4,640,000 | $331,429 |
| $3k-4k | 10 | $4,550,000 | $455,000 |
| $5k+ | 6 | $3,520,000 | $586,667 |
$3,136 of loans were Pacific Service's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 483 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 302 | $102,370,000 | $338,974 |
| 3-4% | 149 | $57,875,000 | $388,423 |
| <2.5% | 95 | $25,385,000 | $267,211 |
| 4-5% | 24 | $3,390,000 | $141,250 |
| 6-7% | 21 | $1,455,000 | $69,286 |
| 5-6% | 5 | $285,000 | $57,000 |
During 2021, Pacific Service's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 302 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 224 | $65,840,000 | $293,929 | $2,698 | 2.91% |
| $400k-600k | 166 | $79,990,000 | $481,867 | $3,244 | 2.91% |
| $100k-200k | 114 | $17,630,000 | $154,649 | $2,716 | 2.89% |
| $100,000 or less | 58 | $3,450,000 | $59,483 | $2,509 | 5.04% |
| $600k-1MM | 34 | $23,850,000 | $701,471 | $4,500 | 3.24% |
2021 saw Pacific Service place emphasis on $200k-400k loans with 224 originations, totaling $65,840,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 203 | $64,355,000 | $317,020 | $2,985 | 3.11% |
| $150k-250k | 165 | $63,435,000 | $384,455 | $3,201 | 3.22% |
| $75k-100k | 92 | $24,890,000 | $270,543 | $2,866 | 3.10% |
| $50k-75k | 58 | $13,160,000 | $226,897 | $2,535 | 3.00% |
| $250k+ | 46 | $20,050,000 | $435,870 | $3,321 | 3.14% |
| $50k or less | 32 | $4,870,000 | $152,188 | $2,620 | 3.12% |
Pacific Service lent most frequently to those with incomes in the $100k-150k range, with 203 originations. The second most popular income band? $150k-250k, with 165 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 178 | $55,590,000 | $312,303 | $2,848 | 2.97% |
| 30-36% | 104 | $34,160,000 | $328,462 | $3,090 | 3.12% |
| <20% | 73 | $19,995,000 | $273,904 | $2,780 | 2.91% |
| 39% | 25 | $8,685,000 | $347,400 | $2,884 | 3.20% |
| 37% | 24 | $7,430,000 | $309,583 | $2,936 | 3.60% |
| 40% | 24 | $7,500,000 | $312,500 | $2,808 | 2.93% |
| 42% | 22 | $7,260,000 | $330,000 | $3,986 | 3.59% |
| 38% | 19 | $6,765,000 | $356,053 | $2,786 | 3.65% |
| 43% | 18 | $5,550,000 | $308,333 | $3,343 | 3.79% |
| 44% | 18 | $6,140,000 | $341,111 | $2,709 | 3.01% |
| 46% | 16 | $5,970,000 | $373,125 | $2,931 | 3.23% |
| 41% | 16 | $5,100,000 | $318,750 | $3,039 | 3.16% |
| 36% | 13 | $4,485,000 | $345,000 | $3,104 | 3.21% |
| 48% | 11 | $3,325,000 | $302,273 | $3,528 | 3.18% |
| 45% | 10 | $3,930,000 | $393,000 | $3,930 | 2.98% |
| 49% | 10 | $4,280,000 | $428,000 | $3,073 | 3.04% |
| 47% | 9 | $2,945,000 | $327,222 | $3,323 | 3.54% |
| 50-60% | 5 | $1,625,000 | $325,000 | $3,173 | 3.85% |
| >60% | 1 | $25,000 | $25,000 | $0 | 5.00% |
Pacific Service lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 104 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 408 | $127,600,000 | $312,745 | $2,916 | 3.11% |
| Not provided | 90 | $29,690,000 | $329,889 | $3,099 | 3.29% |
| Asian | 41 | $16,035,000 | $391,098 | $3,286 | 2.83% |
| Black | 42 | $13,140,000 | $312,857 | $3,044 | 3.23% |
| American Indian | 7 | $2,595,000 | $370,714 | $2,978 | 2.93% |
| Native Hawaiian | 3 | $1,285,000 | $428,333 | $3,718 | 2.67% |
| Asian Indian | 3 | $325,000 | $108,333 | $3,710 | 3.70% |
| Filipino | 2 | $90,000 | $45,000 | $0 | 5.74% |
Approval Rates
Total approvals of all applications90.81%
Pacific Service has an average approval rate.
Pick Rate
Approvals leading to origination66.18%
Pacific Service 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 |
|---|---|---|---|
| 0.0 | 25 | $2,195,000 | $87,800 |
| NA | 571 | $188,565,000 | $330,236 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 596 | $190,760,000 | $320,067 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 111 | $28,435,000 | $256,171 | $2,644 | 2.82% |
| 40-60% | 183 | $64,335,000 | $351,557 | $2,938 | 2.87% |
| 60-80% | 185 | $72,595,000 | $392,405 | $3,107 | 3.03% |
| 80-100% | 43 | $18,435,000 | $428,721 | $3,659 | 3.02% |
| Under 20% | 74 | $6,960,000 | $94,054 | $2,637 | 4.56% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PACIFIC WESTERN BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 100.0% |
