Compass Savings Bank Mortgage Rates, Fees & Info

Wilmerding, PA

LEI: 549300YW4WSUXGQLHY65

Tax ID: 25-0479420

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Mortgage Data

Review & Overview

Compass Savings Bank is a smaller bank specializing in Home Purchase loans. Compass Savings Bank has a high proportion of conventional loans. Their top two markets are Pittsburgh and Indiana .

Compass Savings Bank has an above average approval rate when compared to the average across all lenders.

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Originations

88

Origination Dollar Volume (All Markets)

$13,220,000

Top 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
PITTSBURGH, PA (FHA|USDA|VA) 87 $13,155,000 $151,207 $0 0.00%
Indiana, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Compass Savings Bank's top markets include Pittsburgh and Indiana among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $13,220,000 $150,227 $0 0.00%

    For 2018, Compass Savings Bank's most frequently originated type of loan was Conventional, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $11,155,000 $195,702 $0 0.00%
    Refi 14 $1,040,000 $74,286 $0 0.00%
    Home Improvement 12 $850,000 $70,833 $0 0.00%
    Other 5 $175,000 $35,000 $0 0.00%

    For 2018, Compass Savings Bank's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 88 $13,220,000 $150,227 $0 0.00%

    For 2018, Compass Savings Bank's most frequently cited loan duration was Other, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,180,000 $47,391 $0 0.00%
    $200k-400k 25 $7,035,000 $281,400 $0 0.00%
    $100k-200k 12 $1,660,000 $138,333 $0 0.00%
    $400k-600k 5 $2,345,000 $469,000 $0 0.00%

    2018 saw Compass Savings Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 19 $2,345,000 $123,421 $0 0.00%
    $50k or less 19 $975,000 $51,316 $0 0.00%
    $100k-150k 16 $2,790,000 $174,375 $0 0.00%
    $75k-100k 16 $2,240,000 $140,000 $0 0.00%
    $150k-250k 13 $3,455,000 $265,769 $0 0.00%
    $250k+ 4 $1,120,000 $280,000 $0 0.00%

    Compass Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $50k or less, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 88 $13,220,000 $150,227 $0 0.00%

    Compass Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $10,925,000 $149,658 $0 0.00%
    Black 6 $930,000 $155,000 $0 0.00%
    Not provided 7 $885,000 $126,429 $0 0.00%
    Asian 2 $480,000 $240,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Compass Savings 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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 88 $13,220,000 $150,227

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 87 $13,095,000 $150,517

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    COMPASS MORTGAGE, INC. Conventional home mortgage Closing on a mortgage 1 100.0%