Regal Bank Mortgage Rates, Fees & Info
Livingston, NJLEI: 549300YDGOT72D8ZDV45
Tax ID: 20-5823164
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Mortgage Data
Review & Overview
Regal Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Regal Bank has a high proportion of conventional loans. Their top two markets are New York and Philadelphia .Regal Bank has an above 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
12Origination Dollar Volume (All Markets)
$24,820,000Top 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) | 11 | $24,185,000 | $2,198,636 | $0 | 4.58% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 4.95% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 12 | $24,820,000 | $2,068,333 | $0 | 4.61% |
For 2019, Regal Bank's most frequently originated type of loan was Conventional, with 12 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Cash Out Refi | 8 | $17,550,000 | $2,193,750 | $0 | 4.59% |
Home Purchase | 4 | $7,270,000 | $1,817,500 | $0 | 4.64% |
For 2019, Regal Bank's most frequently cited loan purpose was Cash Out Refi, with 8 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
15 Year | 11 | $23,515,000 | $2,137,727 | $0 | 4.53% |
Other | 1 | $1,305,000 | $1,305,000 | $0 | 5.50% |
For 2019, Regal Bank's most frequently cited loan duration was 15 Year, with 11 originations. The 2nd most popular length was Other, with 1 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 7 | $10,935,000 | $1,562,143 |
3-4% | 3 | $4,575,000 | $1,525,000 |
5-6% | 2 | $9,310,000 | $4,655,000 |
During 2019, Regal Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 7 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$1MM+ | 8 | $22,400,000 | $2,800,000 | $0 | 4.51% |
$600k-1MM | 3 | $1,915,000 | $638,333 | $0 | 4.90% |
$400k-600k | 1 | $505,000 | $505,000 | $0 | 4.50% |
2019 saw Regal Bank place emphasis on $1MM+ loans with 8 originations, totaling $22,400,000 in origination value.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Not applicable | 12 | $24,820,000 | $2,068,333 | $0 | 4.61% |
Approval Rates
Total approvals of all applications100.00%
Regal Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination66.67%
Regal 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 |
---|---|---|---|
NA | 12 | $24,820,000 | $2,068,333 |