Oritani Bank Mortgage Rates, Fees & Info
TOWNSHIP OF WASHINGTON, NJLEI: 549300XRBLWUN6J76L65
Tax ID: 22-1174955
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Mortgage Data
Review & Overview
Oritani Bank is a smaller bank specializing in Home Purchase and Refi loans. Oritani Bank has a high proportion of conventional loans. Their top (well, only) market is New York.Oritani 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
105Origination Dollar Volume (All Markets)
$81,715,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 105 | $81,715,000 | $778,238 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Oritani Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 105 | $81,715,000 | $778,238 | $0 | 0.00% |
For 2018, Oritani Bank's most frequently originated type of loan was Conventional, with 105 originations.
Loan Reason
For 2018, Oritani Bank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Refi, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 105 | $81,715,000 | $778,238 | $0 | 0.00% |
For 2018, Oritani Bank's most frequently cited loan duration was Other, with 105 originations.
Loan Sizing
2018 saw Oritani Bank place emphasis on $200k-400k loans with 33 originations, totaling $9,805,000 in origination value.
Applicant Income
Oritani Bank lent most frequently to those with incomes in the $150k-250k range, with 20 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 105 | $81,715,000 | $778,238 | $0 | 0.00% |
Oritani Bank lent most frequently to those with DTI ratios of Exempt%, with 105 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.41%
Oritani Bank has an average approval rate.
Pick Rate
Approvals leading to origination58.10%
Oritani 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 | 105 | $81,715,000 | $778,238 |