Better Mortgage Corporation

New York, NY 10006

LEI: 549300XY701IELCE5Q08

Tax ID: 87-1691650

2019 Data | 2018 Data


Overview

Better Mortgage Corporation is a small mortgage company specializing in Home Purchase and Refi loans. Better Mortgage Corporation has a high proportion of conventional loans. Their top markets include Seattle, Atlanta, Phoenix, Denver, and Los Angeles 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. Better Mortgage Corporation is typically a lendor.


Originations

11,363

Origination Dollar Volume (All Markets)

$3,568,205,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 11,363 $3,568,205,000 $314,020

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 3,771 $1,123,245,000 $297,864
Home Improvement 13 $2,915,000 $224,231
Other 14 $1,820,000 $130,000
Refi 7,565 $2,440,225,000 $322,568

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
SEATTLE-BELLEVUE-KENT, WA 509 $217,625,000 $427,554
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 633 $180,765,000 $285,569
PHOENIX-MESA-CHANDLER, AZ 549 $161,385,000 $293,962
DENVER-AURORA-LAKEWOOD, CO 426 $152,120,000 $357,089
LOS ANGELES-LONG BEACH-GLENDALE, CA 319 $130,385,000 $408,730
Outside of Metro Areas 483 $125,875,000 $260,611
OAKLAND-BERKELEY-LIVERMORE, CA 249 $118,395,000 $475,482
DALLAS-PLANO-IRVING, TX 305 $93,235,000 $305,689
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 327 $91,895,000 $281,024
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 260 $86,840,000 $334,000
CHICAGO-NAPERVILLE-EVANSTON, IL 286 $86,690,000 $303,112
CHARLOTTE-CONCORD-GASTONIA, NC-SC 286 $83,430,000 $291,713
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 187 $74,845,000 $400,241
SACRAMENTO-ROSEVILLE-FOLSOM, CA 221 $73,765,000 $333,778
AUSTIN-ROUND ROCK-GEORGETOWN, TX 232 $70,710,000 $304,784
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 208 $70,350,000 $338,221
RALEIGH-CARY, NC 215 $65,305,000 $303,744
NEWARK, NJ-PA 144 $53,450,000 $371,181
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 139 $52,605,000 $378,453
ANAHEIM-SANTA ANA-IRVINE, CA 120 $51,060,000 $425,500
TAMPA-ST. PETERSBURG-CLEARWATER, FL 190 $51,010,000 $268,474
ORLANDO-KISSIMMEE-SANFORD, FL 180 $48,310,000 $268,389
NEW BRUNSWICK-LAKEWOOD, NJ 147 $47,565,000 $323,571
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 152 $46,720,000 $307,368
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 143 $44,025,000 $307,867
WARREN-TROY-FARMINGTON HILLS, MI 149 $41,715,000 $279,966
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 78 $38,330,000 $491,410
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 95 $36,485,000 $384,053
PHILADELPHIA, PA 98 $30,910,000 $315,408
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 59 $29,675,000 $502,966
MIAMI-MIAMI BEACH-KENDALL, FL 92 $29,240,000 $317,826
FORT WORTH-ARLINGTON-GRAPEVINE, TX 100 $27,920,000 $279,200
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 88 $26,660,000 $302,955
TACOMA-LAKEWOOD, WA 84 $26,150,000 $311,310
JACKSONVILLE, FL 92 $25,470,000 $276,848
PITTSBURGH, PA 97 $25,365,000 $261,495
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 84 $24,100,000 $286,905
BOULDER, CO 59 $21,805,000 $369,576
BRIDGEPORT-STAMFORD-NORWALK, CT 51 $20,315,000 $398,333
DURHAM-CHAPEL HILL, NC 69 $19,425,000 $281,522
OXNARD-THOUSAND OAKS-VENTURA, CA 44 $18,720,000 $425,455
STOCKTON, CA 52 $18,440,000 $354,615
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 65 $17,735,000 $272,846
SAN ANTONIO-NEW BRAUNFELS, TX 65 $15,905,000 $244,692
COLORADO SPRINGS, CO 55 $15,755,000 $286,455
CAMDEN, NJ 60 $15,650,000 $260,833
FORT COLLINS, CO 43 $14,355,000 $333,837
MILWAUKEE-WAUKESHA, WI 49 $14,315,000 $292,143
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 39 $14,285,000 $366,282
NORTH PORT-SARASOTA-BRADENTON, FL 48 $13,930,000 $290,208
SANTA ROSA-PETALUMA, CA 32 $13,680,000 $427,500
BALTIMORE-COLUMBIA-TOWSON, MD 40 $13,090,000 $327,250
KANSAS CITY, MO-KS 47 $12,625,000 $268,617
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 47 $12,215,000 $259,894
BIRMINGHAM-HOOVER, AL 52 $12,190,000 $234,423
FRESNO, CA 41 $11,515,000 $280,854
PROVIDENCE-WARWICK, RI-MA 38 $11,190,000 $294,474
SPOKANE-SPOKANE VALLEY, WA 45 $11,125,000 $247,222
DETROIT-DEARBORN-LIVONIA, MI 47 $11,085,000 $235,851
PORTLAND-SOUTH PORTLAND, ME 40 $10,780,000 $269,500
GREELEY, CO 35 $10,755,000 $307,286
VALLEJO, CA 30 $10,560,000 $352,000
TUCSON, AZ 38 $10,280,000 $270,526
ASHEVILLE, NC 33 $9,825,000 $297,727
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 33 $9,285,000 $281,364
LAKE COUNTY-KENOSHA COUNTY, IL-WI 33 $9,265,000 $280,758
GRAND RAPIDS-KENTWOOD, MI 38 $9,030,000 $237,632
ALBUQUERQUE, NM 35 $8,785,000 $251,000
OLYMPIA-LACEY-TUMWATER, WA 29 $8,775,000 $302,586
ANN ARBOR, MI 32 $8,690,000 $271,563
MODESTO, CA 28 $8,640,000 $308,571
SAN LUIS OBISPO-PASO ROBLES, CA 24 $8,500,000 $354,167
BOISE CITY, ID 27 $8,475,000 $313,889
WILMINGTON, DE-MD-NJ 31 $8,405,000 $271,129
MEMPHIS, TN-MS-AR 36 $8,040,000 $223,333
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 34 $7,730,000 $227,353
KENNEWICK-RICHLAND, WA 24 $7,720,000 $321,667
NEW ORLEANS-METAIRIE, LA 28 $7,700,000 $275,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 31 $7,695,000 $248,226
OMAHA-COUNCIL BLUFFS, NE-IA 29 $7,545,000 $260,172
MADISON, WI 28 $7,430,000 $265,357
SANTA MARIA-SANTA BARBARA, CA 14 $7,270,000 $519,286
BREMERTON-SILVERDALE-PORT ORCHARD, WA 25 $7,225,000 $289,000
CHATTANOOGA, TN-GA 30 $7,140,000 $238,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 31 $7,015,000 $226,290
KNOXVILLE, TN 28 $6,920,000 $247,143
ELGIN, IL 24 $6,910,000 $287,917
EUGENE-SPRINGFIELD, OR 24 $6,740,000 $280,833
HUNTSVILLE, AL 28 $6,680,000 $238,571
SANTA CRUZ-WATSONVILLE, CA 11 $6,545,000 $595,000
BELLINGHAM, WA 21 $6,445,000 $306,905
NEW HAVEN-MILFORD, CT 24 $6,360,000 $265,000
GREENSBORO-HIGH POINT, NC 26 $6,340,000 $243,846
CAPE CORAL-FORT MYERS, FL 26 $6,150,000 $236,538
OKLAHOMA CITY, OK 27 $6,125,000 $226,852
TULSA, OK 20 $5,640,000 $282,000
WINSTON-SALEM, NC 24 $5,630,000 $234,583
DES MOINES-WEST DES MOINES, IA 20 $5,400,000 $270,000
BEND, OR 16 $5,350,000 $334,375
BATON ROUGE, LA 25 $5,245,000 $209,800
SAN RAFAEL, CA 10 $5,110,000 $511,000
ANCHORAGE, AK 15 $5,075,000 $338,333
TALLAHASSEE, FL 19 $5,035,000 $265,000
TRENTON-PRINCETON, NJ 18 $4,980,000 $276,667
CHARLESTON-NORTH CHARLESTON, SC 16 $4,980,000 $311,250
PRESCOTT VALLEY-PRESCOTT, AZ 18 $4,910,000 $272,778
BAKERSFIELD, CA 18 $4,820,000 $267,778
FLAGSTAFF, AZ 14 $4,630,000 $330,714
PORT ST. LUCIE, FL 16 $4,600,000 $287,500
SALISBURY, MD-DE 16 $4,510,000 $281,875
NAPLES-MARCO ISLAND, FL 13 $4,485,000 $345,000
SAVANNAH, GA 17 $4,085,000 $240,294
SALINAS, CA 11 $3,905,000 $355,000
NAPA, CA 8 $3,900,000 $487,500
GAINESVILLE, FL 19 $3,875,000 $203,947
MEDFORD, OR 13 $3,855,000 $296,538
GREENVILLE-ANDERSON, SC 14 $3,850,000 $275,000
LAKELAND-WINTER HAVEN, FL 17 $3,765,000 $221,471
VISALIA, CA 14 $3,740,000 $267,143
SANTA FE, NM 11 $3,705,000 $336,818
LANSING-EAST LANSING, MI 13 $3,485,000 $268,077
LEXINGTON-FAYETTE, KY 11 $3,355,000 $305,000
WILMINGTON, NC 15 $3,355,000 $223,667
HARRISBURG-CARLISLE, PA 12 $3,340,000 $278,333
APPLETON, WI 11 $3,315,000 $301,364
PENSACOLA-FERRY PASS-BRENT, FL 15 $3,255,000 $217,000
CORPUS CHRISTI, TX 11 $3,195,000 $290,455
YORK-HANOVER, PA 12 $3,060,000 $255,000
MIDLAND, TX 10 $2,930,000 $293,000
LANCASTER, PA 11 $2,915,000 $265,000
YUBA CITY, CA 11 $2,835,000 $257,727
NORWICH-NEW LONDON, CT 10 $2,770,000 $277,000
REDDING, CA 9 $2,675,000 $297,222
SCRANTON--WILKES-BARRE, PA 13 $2,625,000 $201,923
TYLER, TX 9 $2,605,000 $289,444
SALEM, OR 10 $2,560,000 $256,000
WENATCHEE, WA 8 $2,550,000 $318,750
MISSOULA, MT 9 $2,535,000 $281,667
CHEYENNE, WY 8 $2,450,000 $306,250
ATHENS-CLARKE COUNTY, GA 9 $2,425,000 $269,444
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 10 $2,410,000 $241,000
LAKE HAVASU CITY-KINGMAN, AZ 8 $2,400,000 $300,000
ATLANTIC CITY-HAMMONTON, NJ 8 $2,230,000 $278,750
CINCINNATI, OH-KY-IN 9 $2,225,000 $247,222
DAPHNE-FAIRHOPE-FOLEY, AL 9 $2,115,000 $235,000
MOUNT VERNON-ANACORTES, WA 7 $2,055,000 $293,571
JACKSON, MS 10 $2,050,000 $205,000
PEORIA, IL 9 $2,035,000 $226,111
NILES, MI 9 $2,025,000 $225,000
READING, PA 7 $1,965,000 $280,714
COLLEGE STATION-BRYAN, TX 9 $1,925,000 $213,889
SIOUX FALLS, SD 6 $1,920,000 $320,000
EL PASO, TX 10 $1,820,000 $182,000
OCALA, FL 10 $1,750,000 $175,000
HILTON HEAD ISLAND-BLUFFTON, SC 6 $1,730,000 $288,333
LONGVIEW, WA 7 $1,625,000 $232,143
JOHNSON CITY, TN 7 $1,595,000 $227,857
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 8 $1,590,000 $198,750
GREEN BAY, WI 7 $1,585,000 $226,429
PANAMA CITY, FL 6 $1,580,000 $263,333
AUGUSTA-RICHMOND COUNTY, GA-SC 9 $1,565,000 $173,889
TUSCALOOSA, AL 4 $1,520,000 $380,000
AUBURN-OPELIKA, AL 6 $1,510,000 $251,667
COEUR D'ALENE, ID 4 $1,480,000 $370,000
PUNTA GORDA, FL 5 $1,455,000 $291,000
KALAMAZOO-PORTAGE, MI 6 $1,420,000 $236,667
BEAUMONT-PORT ARTHUR, TX 7 $1,415,000 $202,143
MERCED, CA 6 $1,410,000 $235,000
WICHITA, KS 7 $1,375,000 $196,429
CHAMPAIGN-URBANA, IL 6 $1,340,000 $223,333
SEBASTIAN-VERO BEACH, FL 6 $1,320,000 $220,000
MORGANTOWN, WV 4 $1,290,000 $322,500
SALT LAKE CITY, UT 3 $1,255,000 $418,333
CORVALLIS, OR 4 $1,250,000 $312,500
FAYETTEVILLE, NC 7 $1,235,000 $176,429
ST. LOUIS, MO-IL 5 $1,225,000 $245,000
HICKORY-LENOIR-MORGANTON, NC 4 $1,210,000 $302,500
MCALLEN-EDINBURG-MISSION, TX 5 $1,195,000 $239,000
GAINESVILLE, GA 7 $1,185,000 $169,286
OCEAN CITY, NJ 4 $1,180,000 $295,000
FLINT, MI 4 $1,170,000 $292,500
FARGO, ND-MN 4 $1,170,000 $292,500
WORCESTER, MA-CT 6 $1,140,000 $190,000
LAKE CHARLES, LA 5 $1,135,000 $227,000
CHICO, CA 5 $1,135,000 $227,000
KILLEEN-TEMPLE, TX 5 $1,135,000 $227,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 5 $1,115,000 $223,000
LAS CRUCES, NM 5 $1,105,000 $221,000
WICHITA FALLS, TX 4 $1,100,000 $275,000
PUEBLO, CO 5 $1,095,000 $219,000
ALBANY-LEBANON, OR 4 $1,090,000 $272,500
HOT SPRINGS, AR 3 $1,085,000 $361,667
PROVO-OREM, UT 3 $1,075,000 $358,333
BRUNSWICK, GA 2 $1,030,000 $515,000
GULFPORT-BILOXI, MS 7 $1,025,000 $146,429
BURLINGTON, NC 4 $1,000,000 $250,000
GRAND JUNCTION, CO 4 $990,000 $247,500
BILLINGS, MT 4 $990,000 $247,500
ODESSA, TX 4 $980,000 $245,000
OSHKOSH-NEENAH, WI 4 $980,000 $245,000
COLUMBIA, SC 5 $975,000 $195,000
YAKIMA, WA 3 $975,000 $325,000
NEW BERN, NC 5 $955,000 $191,000
MONTGOMERY, AL 6 $940,000 $156,667
LAWRENCE, KS 5 $895,000 $179,000
LONGVIEW, TX 4 $880,000 $220,000
HAGERSTOWN-MARTINSBURG, MD-WV 4 $880,000 $220,000
LAFAYETTE, LA 4 $880,000 $220,000
MOBILE, AL 5 $845,000 $169,000
THE VILLAGES, FL 3 $845,000 $281,667
AMARILLO, TX 3 $835,000 $278,333
GREENVILLE, NC 3 $825,000 $275,000
ERIE, PA 3 $825,000 $275,000
BOWLING GREEN, KY 3 $795,000 $265,000
WACO, TX 3 $785,000 $261,667
SPARTANBURG, SC 4 $780,000 $195,000
CLARKSVILLE, TN-KY 3 $775,000 $258,333
DECATUR, AL 3 $775,000 $258,333
WALLA WALLA, WA 3 $765,000 $255,000
GRAND FORKS, ND-MN 2 $750,000 $375,000
SHREVEPORT-BOSSIER CITY, LA 2 $740,000 $370,000
JONESBORO, AR 4 $700,000 $175,000
WILLIAMSPORT, PA 3 $685,000 $228,333
LEBANON, PA 2 $680,000 $340,000
COLUMBUS, GA-AL 6 $670,000 $111,667
ROCKFORD, IL 3 $645,000 $215,000
ROCKY MOUNT, NC 2 $640,000 $320,000
BROWNSVILLE-HARLINGEN, TX 3 $635,000 $211,667
MADERA, CA 2 $630,000 $315,000
HAMMOND, LA 2 $620,000 $310,000
FAIRBANKS, AK 2 $620,000 $310,000
GETTYSBURG, PA 3 $605,000 $201,667
BISMARCK, ND 2 $590,000 $295,000
KINGSPORT-BRISTOL, TN-VA 2 $580,000 $290,000
MUSKEGON, MI 2 $570,000 $285,000
GRANTS PASS, OR 2 $570,000 $285,000
MONROE, MI 2 $570,000 $285,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 2 $560,000 $280,000
EL CENTRO, CA 2 $550,000 $275,000
DALTON, GA 2 $540,000 $270,000
AMES, IA 3 $535,000 $178,333
CHARLESTON, WV 2 $530,000 $265,000
STATE COLLEGE, PA 3 $515,000 $171,667
LINCOLN, NE 2 $510,000 $255,000
MONROE, LA 3 $505,000 $168,333
RACINE, WI 3 $505,000 $168,333
EAST STROUDSBURG, PA 2 $500,000 $250,000
ALEXANDRIA, LA 2 $500,000 $250,000
BLOOMINGTON, IL 2 $480,000 $240,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 2 $480,000 $240,000
SHEBOYGAN, WI 2 $460,000 $230,000
BATTLE CREEK, MI 3 $455,000 $151,667
IDAHO FALLS, ID 2 $450,000 $225,000
FLORENCE-MUSCLE SHOALS, AL 2 $420,000 $210,000
VINELAND-BRIDGETON, NJ 3 $415,000 $138,333
INDIANAPOLIS-CARMEL-ANDERSON, IN 2 $410,000 $205,000
BECKLEY, WV 3 $405,000 $135,000
ALTOONA, PA 1 $405,000 $405,000
HOMOSASSA SPRINGS, FL 3 $395,000 $131,667
JACKSONVILLE, NC 2 $390,000 $195,000
MANHATTAN, KS 1 $385,000 $385,000
ENID, OK 2 $380,000 $190,000
HANFORD-CORCORAN, CA 2 $380,000 $190,000
CLEVELAND, TN 2 $380,000 $190,000
RAPID CITY, SD 2 $350,000 $175,000
BANGOR, ME 2 $350,000 $175,000
VALDOSTA, GA 2 $350,000 $175,000
HATTIESBURG, MS 3 $345,000 $115,000
DOVER, DE 2 $340,000 $170,000
HUNTINGTON-ASHLAND, WV-KY-OH 2 $340,000 $170,000
EAU CLAIRE, WI 1 $295,000 $295,000
CUMBERLAND, MD-WV 1 $295,000 $295,000
SPRINGFIELD, IL 1 $295,000 $295,000
FORT SMITH, AR-OK 2 $290,000 $145,000
TWIN FALLS, ID 1 $275,000 $275,000
VICTORIA, TX 1 $275,000 $275,000
MORRISTOWN, TN 1 $275,000 $275,000
ROME, GA 1 $265,000 $265,000
WEIRTON-STEUBENVILLE, WV-OH 1 $265,000 $265,000
TOPEKA, KS 1 $265,000 $265,000
GREAT FALLS, MT 1 $265,000 $265,000
PINE BLUFF, AR 2 $260,000 $130,000
JACKSON, MI 1 $255,000 $255,000
GRAND ISLAND, NE 1 $245,000 $245,000
SOUTH BEND-MISHAWAKA, IN-MI 1 $245,000 $245,000
FARMINGTON, NM 1 $235,000 $235,000
PARKERSBURG-VIENNA, WV 1 $235,000 $235,000
CEDAR RAPIDS, IA 1 $225,000 $225,000
JANESVILLE-BELOIT, WI 2 $220,000 $110,000
YUMA, AZ 1 $215,000 $215,000
DECATUR, IL 1 $205,000 $205,000
MIDLAND, MI 3 $205,000 $68,333
SHERMAN-DENISON, TX 1 $205,000 $205,000
CASPER, WY 1 $185,000 $185,000
BLOOMSBURG-BERWICK, PA 1 $175,000 $175,000
LUBBOCK, TX 1 $175,000 $175,000
MACON-BIBB COUNTY, GA 1 $165,000 $165,000
WARNER ROBINS, GA 1 $155,000 $155,000
BAY CITY, MI 2 $150,000 $75,000
DULUTH, MN-WI 1 $145,000 $145,000
DOTHAN, AL 1 $145,000 $145,000
CHAMBERSBURG-WAYNESBORO, PA 1 $145,000 $145,000
BLOOMINGTON, IN 1 $135,000 $135,000
ALBANY, GA 1 $125,000 $125,000
OWENSBORO, KY 1 $115,000 $115,000
SAGINAW, MI 1 $115,000 $115,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 1 $105,000 $105,000
SEBRING-AVON PARK, FL 1 $105,000 $105,000
FLORENCE, SC 1 $105,000 $105,000
HINESVILLE, GA 1 $75,000 $75,000

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% 23 $7,385,000 $321,087
2.5-3% 659 $214,895,000 $326,093
3-4% 8,288 $2,730,910,000 $329,502
4-5% 2,141 $573,605,000 $267,915
5-6% 247 $40,875,000 $165,486
6-7% 5 $535,000 $107,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 222 $17,900,000 $80,631
$100k-200k 1,678 $267,400,000 $159,356
$200k-400k 7,087 $2,120,075,000 $299,150
$400k-600k 2,082 $948,260,000 $455,456
$600k-1000k 273 $189,195,000 $693,022
$Over $1MM 21 $25,375,000 $1,208,333

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% 374 $109,060,000 $291,604
40-60% 1,401 $430,385,000 $307,198
60-80% 5,820 $1,839,380,000 $316,045
80-100% 3,749 $1,185,115,000 $316,115
Under 20% 19 $4,265,000 $224,474

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 3,951 $1,263,695,000 $319,842
$150k-250k 2,848 $1,039,360,000 $364,944
$50k-75k 1,398 $322,520,000 $230,701
$50k-or less 392 $74,440,000 $189,898
$75k-100k 2,078 $578,280,000 $278,287
$Over $250k 696 $289,910,000 $416,537

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,293 $2,250,975,000 $308,649
Not provided 2,157 $688,805,000 $319,335
Asian Indian 700 $237,600,000 $339,429
Chinese 315 $111,685,000 $354,556
Black 328 $88,800,000 $270,732
Other Asian 146 $46,660,000 $319,589
Korean 127 $46,535,000 $366,417
Vietnamese 106 $34,530,000 $325,755
Filipino 90 $31,940,000 $354,889
American Indian 36 $9,990,000 $277,500
Japanese 31 $9,685,000 $312,419
Native Hawaiian 19 $5,955,000 $313,421
Asian 15 $5,045,000 $336,333

Approval Rates

Total approvals of all applications
92.14%

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
34.98%

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
NA 11,363 $3,568,205,000 $314,020

Origination Fees

Origination Fee Originations Total Value Average Loan

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):Site-Built 11,363 $3,568,205,000 $314,020