Royal Financial Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300ZUNYZG3NYL2P40

Tax ID: 36-1710600

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Royal Financial is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Royal Financial has a high proportion of conventional loans. Their top markets include Chicago, Akron, Charleston, Bozeman, and Michigan City among others. Royal Financial has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

245

Origination Dollar Volume (All Markets)

$134,615,000

Employee count

61

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 235 $111,405,000 $474,064 $0 0.00%
AKRON, OH (FHA|USDA|VA) 1 $8,335,000 $8,335,000 $0 0.00%
Charleston-Mattoon, IL (FHA|USDA|VA) 1 $6,505,000 $6,505,000 $0 0.00%
Bozeman, MT (FHA|USDA|VA) 1 $3,325,000 $3,325,000 $0 0.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $2,590,000 $1,295,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
KANKAKEE, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%

Royal Financial 's top markets include Chicago, Akron, Charleston, Bozeman, and Michigan City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 245 $134,615,000 $549,449 $0 0.00%

For the 2021 period, Royal Financial 's most frequently originated loan type of loans were Conventional, with 245 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 129 $76,465,000 $592,752 $0 0.00%
Cash Out Refi 65 $46,195,000 $710,692 $0 0.00%
Refi 48 $10,590,000 $220,625 $0 0.00%
Other 2 $1,340,000 $670,000 $0 0.00%
Home Improvement 1 $25,000 $25,000 $0 0.00%

For the 2021, Royal Financial 's most frequently cited loan purpose of loans were Home Purchase, with 129 originations. The 2nd most popular reason of loans were Cash Out Refi, with 65 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 245 $134,615,000 $549,449 $0 0.00%

For the 2021, Royal Financial 's most frequently cited loan length of loans were Other, with 245 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 77 $22,335,000 $290,065 $0 0.00%
$100k-200k 46 $6,500,000 $141,304 $0 0.00%
$400k-600k 38 $18,110,000 $476,579 $0 0.00%
$600k-1MM 36 $26,200,000 $727,778 $0 0.00%
$1MM+ 31 $60,135,000 $1,939,839 $0 0.00%
$100,000 or less 17 $1,335,000 $78,529 $0 0.00%

2021 saw Royal Financial place emphasis on $200k-400k loans with 77 originations, totaling $22,335,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 34 $5,930,000 $174,412 $0 0.00%
$250k+ 28 $18,860,000 $673,571 $0 0.00%
$100k-150k 20 $6,760,000 $338,000 $0 0.00%
$50k or less 20 $2,420,000 $121,000 $0 0.00%
$75k-100k 16 $3,080,000 $192,500 $0 0.00%
$150k-250k 10 $4,210,000 $421,000 $0 0.00%

Royal Financial lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $250k+, with 28 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 245 $134,615,000 $549,449 $0 0.00%

Royal Financial lent most frequently to those with DTI ratios of Exempt%, with 245 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 106 $89,120,000 $840,755 $0 0.00%
White 123 $40,185,000 $326,707 $0 0.00%
Black 8 $2,660,000 $332,500 $0 0.00%
Asian 4 $1,340,000 $335,000 $0 0.00%
Other Asian 1 $805,000 $805,000 $0 0.00%
American Indian 2 $400,000 $200,000 $0 0.00%
Native Hawaiian 1 $105,000 $105,000 $0 0.00%

Approval Rates

Total approvals of all applications
87.88%

Royal Financial has an average approval rate.

Pick Rate

Approvals leading to origination
75.21%

Royal Financial has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 245 $134,615,000 $549,449

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
245 $134,615,000 $549,449

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Royal Savings Bank 1823 W. 47th Street Chicago, IL 60609 Full Service B&M $8,271
Royal Savings Bank 1410 West Taylor Street Chicago, IL 60607 Full Service B&M $8,552
Royal Savings Bank 21 East Ogden Avenue Westmont, IL 60559 Full Service B&M $47,426
Royal Savings Bank 2740 West 55th Street Chicago, IL 60632 Full Service B&M $27,774
Royal Savings Bank 2869 South Archer Ave Chicago, IL 60608 Full Service B&M $29,308
Royal Savings Bank 3448 E. 118th Street Chicago, IL 60617 Full Service Retail $26,685
Royal Savings Bank 5400 South Pulaski Road Chicago, IL 60632 Full Service B&M $55,096
Royal Savings Bank 7840 N. Milwaukee Avenue Niles, IL 60714 Full Service B&M $60,213
Royal Savings Bank 9226 South Commercial Avenue Chicago, IL 60617 Full Service B&M $209,664

For 2021, Royal Financial had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $19,930
Net interest income $18,472
Total noninterest income $660
Gross Fiduciary activities income $0
Service charges on deposit accounts $204
Trading account gains and fees $0
Additional Noninterest Income $456
Pre-tax net operating income $8,806
Securities gains (or losses, -) $0
Income before extraordinary items $6,695
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,695
Minority interest net income $0
Net income $6,695
Sale, conversion, retirement of capital stock, net $267
Net operating income $6,695

Royal Financial 's gross interest income from loans was $19,930,000.
Royal Financial 's net interest income from loans was $18,472,000.
Royal Financial 's fee based income from loans was $204,000.
Royal Financial 's net income from loans was $6,695,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,458
Provision for credit losses $-328
Total noninterest expense $10,654
Salaries and employee benefits $5,171
Premises and equipment expense $2,039
Additional noninterest expense $3,444
Applicable income taxes $2,111
Net charge-offs $-424
Cash dividends $501

Royal Financial 's interest expense for loans was $1,458,000.
Royal Financial 's payroll and benefits expense were $5,171,000.
Royal Financial 's property, plant and equipment expenses $2,039,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 17.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $488,836
Deposits held in domestic offices $488,836
Deposits by Individuals, partnerships, and corporations $429,594
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $1,502
Deposits by Commercial banks and other depository institutions in U.S. $57,740
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $107,655
Demand deposits $107,655
Nontransaction accounts $381,181
Money market deposit accounts (MMDAs) $67,186
Other savings deposits (excluding MMDAs) $117,315
Total time deposits $196,680
Total time and savings deposits $381,181
Noninterest-bearing deposits $90,246
Interest-bearing deposits $398,590
Retail deposits $331,571
IRAs and Keogh plan accounts $13,815
Brokered deposits $86,005
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $546,412
Cash & Balances due from depository institutions $27,471
Interest-bearing balances $24,344
Total securities $31,425
Federal funds sold & reverse repurchase $193
Net loans and leases $461,092
Loan and leases loss allowance $3,719
Trading account assets $0
Bank premises and fixed assets $15,067
Other real estate owned $124
Goodwill and other intangibles $2,223
All other assets $8,817

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $546,412
Total Liabilities $490,249
Total deposits $488,836
Interest-bearing deposits $398,590
Deposits held in domestic offices $488,836
% insured (estimated) $75
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $1,413

Issued Loan Types

Type Value (in 000's)
Net loans and leases $461,092
Loan and leases loss allowance $3,719
Total loans and leases (domestic) $464,811
All real estate loans $459,497
Real estate loans in domestic offices $459,497
Construction and development loans $26,441
Residential 1-4 family construction $6,582
Other construction, all land development and other land $19,859
Loans secured by nonfarm nonresidential properties $86,238
Nonfarm nonresidential secured by owner-occupied properties $30,289
Commercial real estate & other non-farm, non-residential $55,949
Multifamily residential real estate $167,102
1-4 family residential loans $179,716
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $4,054
To non-U.S. addressees $0
Loans to individuals $1,250
Credit card loans $0
Related Plans $0
Consumer Auto Loans $20
Other loans to individuals $1,230
All other loans & leases $10
Loans to foreign governments and official institutions $0
Other loans $10
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $498
Non 1-4 family restructured loans & leases $15
Total loans and leases (foreign) $0

ROYAL FINANCIAL had $461,092,000 of loans outstanding in 2021. $459,497,000 of loans were in real estate loans. $26,441,000 of loans were in development loans. $167,102,000 of loans were in multifamily mortgage loans. $179,716,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $20,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 163 $42,961 $263,564
Nonfarm, nonresidential loans - <$100k 21 $1,215 $57,857
Nonfarm, nonresidential loans - $100-250k 60 $9,036 $150,600
Nonfarm, nonresidential loans - $250k-1MM 82 $32,710 $398,902
Commercial & Industrial, US addressed loans - <$1MM 46 $4,054 $88,130
Commercial & Industrial, US addressed loans - <$100k 26 $544 $20,923
Commercial & Industrial, US addressed loans - $100-250k 15 $1,502 $100,133
Commercial & Industrial, US addressed loans - $250k-1MM 5 $2,008 $401,600