City National Bank

Los Angeles, CA 90071

LEI: 593C3GZG957YOJPS2Z63

Tax ID: 95-1780067

2019 Data | 2018 Data


Overview

City National Bank is a mid-sized mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. City National Bank has a high proportion of conventional loans. Their top markets include Los Angeles, New York, Anaheim, San Diego, and Riverside 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. City National Bank is typically a low fee medium-low fee lendor.


Originations

4,467

Origination Dollar Volume (All Markets)

$5,111,925,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 4,467 $5,111,925,000 $1,144,375

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 1,342 $1,719,610,000 $1,281,379
Home Improvement 333 $154,805,000 $464,880
Other 829 $649,745,000 $783,770
Refi 1,013 $1,353,525,000 $1,336,155
Cash Out Refi 950 $1,234,240,000 $1,299,200

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,962 $2,512,100,000 $1,280,377
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 227 $404,065,000 $1,780,022
ANAHEIM-SANTA ANA-IRVINE, CA 201 $234,245,000 $1,165,398
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 169 $216,085,000 $1,278,609
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 87 $100,285,000 $1,152,701
Outside of Metro Areas 124 $96,310,000 $776,694
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 92 $93,150,000 $1,012,500
NASSAU COUNTY-SUFFOLK COUNTY, NY 58 $92,670,000 $1,597,759
OXNARD-THOUSAND OAKS-VENTURA, CA 109 $86,605,000 $794,541
OAKLAND-BERKELEY-LIVERMORE, CA 131 $82,985,000 $633,473
SANTA MARIA-SANTA BARBARA, CA 36 $76,490,000 $2,124,722
LAS VEGAS-HENDERSON-PARADISE, NV 79 $72,635,000 $919,430
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 86 $69,210,000 $804,767
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 113 $67,865,000 $600,575
SAN RAFAEL, CA 43 $55,915,000 $1,300,349
TULSA, OK 2 $49,430,000 $24,715,000
VALLEJO, CA 7 $45,875,000 $6,553,571
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 28 $42,000,000 $1,500,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 40 $41,920,000 $1,048,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 29 $36,925,000 $1,273,276
MIAMI-MIAMI BEACH-KENDALL, FL 22 $36,340,000 $1,651,818
PHOENIX-MESA-CHANDLER, AZ 36 $35,280,000 $980,000
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 72 $34,420,000 $478,056
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 45 $31,785,000 $706,333
NEW BRUNSWICK-LAKEWOOD, NJ 21 $24,115,000 $1,148,333
BRIDGEPORT-STAMFORD-NORWALK, CT 15 $23,145,000 $1,543,000
BOSTON, MA 23 $22,295,000 $969,348
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 26 $22,160,000 $852,308
SEATTLE-BELLEVUE-KENT, WA 29 $20,345,000 $701,552
RENO, NV 40 $19,850,000 $496,250
SALINAS, CA 10 $18,710,000 $1,871,000
NEWARK, NJ-PA 22 $17,150,000 $779,545
AUSTIN-ROUND ROCK-GEORGETOWN, TX 9 $17,135,000 $1,903,889
DENVER-AURORA-LAKEWOOD, CO 22 $15,440,000 $701,818
URBAN HONOLULU, HI 4 $14,830,000 $3,707,500
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 19 $13,915,000 $732,368
BALTIMORE-COLUMBIA-TOWSON, MD 28 $13,730,000 $490,357
TAMPA-ST. PETERSBURG-CLEARWATER, FL 17 $11,835,000 $696,176
SANTA ROSA-PETALUMA, CA 12 $10,990,000 $915,833
ORLANDO-KISSIMMEE-SANFORD, FL 11 $10,985,000 $998,636
BARNSTABLE TOWN, MA 9 $10,295,000 $1,143,889
NORTH PORT-SARASOTA-BRADENTON, FL 10 $9,220,000 $922,000
NAPLES-MARCO ISLAND, FL 12 $8,490,000 $707,500
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 9 $8,475,000 $941,667
DALLAS-PLANO-IRVING, TX 9 $8,405,000 $933,889
KAHULUI-WAILUKU-LAHAINA, HI 6 $7,640,000 $1,273,333
CAPE CORAL-FORT MYERS, FL 9 $6,505,000 $722,778
SALISBURY, MD-DE 9 $6,495,000 $721,667
NAPA, CA 7 $6,285,000 $897,857
CHICAGO-NAPERVILLE-EVANSTON, IL 6 $4,910,000 $818,333
OCEAN CITY, NJ 4 $4,860,000 $1,215,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 9 $4,845,000 $538,333
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 5 $4,715,000 $943,000
BOULDER, CO 4 $4,550,000 $1,137,500
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 6 $4,290,000 $715,000
CARSON CITY, NV 10 $4,250,000 $425,000
BATON ROUGE, LA 2 $3,920,000 $1,960,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 7 $3,795,000 $542,143
TUCSON, AZ 6 $3,360,000 $560,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 7 $3,325,000 $475,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 6 $3,310,000 $551,667
FRESNO, CA 4 $3,200,000 $800,000
FLAGSTAFF, AZ 6 $3,200,000 $533,333
WARREN-TROY-FARMINGTON HILLS, MI 5 $3,085,000 $617,000
SAN LUIS OBISPO-PASO ROBLES, CA 3 $2,975,000 $991,667
CAMDEN, NJ 3 $2,625,000 $875,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 3 $2,585,000 $861,667
ATLANTIC CITY-HAMMONTON, NJ 2 $2,250,000 $1,125,000
ST. LOUIS, MO-IL 3 $2,185,000 $728,333
PRESCOTT VALLEY-PRESCOTT, AZ 5 $2,145,000 $429,000
PORT ST. LUCIE, FL 4 $1,980,000 $495,000
BIRMINGHAM-HOOVER, AL 3 $1,835,000 $611,667
PITTSFIELD, MA 3 $1,805,000 $601,667
PROVIDENCE-WARWICK, RI-MA 4 $1,740,000 $435,000
LAWRENCE, KS 1 $1,705,000 $1,705,000
CHARLESTON-NORTH CHARLESTON, SC 5 $1,655,000 $331,000
OMAHA-COUNCIL BLUFFS, NE-IA 4 $1,650,000 $412,500
RALEIGH-CARY, NC 3 $1,635,000 $545,000
PHILADELPHIA, PA 3 $1,625,000 $541,667
DOTHAN, AL 1 $1,605,000 $1,605,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 3 $1,595,000 $531,667
ST. GEORGE, UT 1 $1,565,000 $1,565,000
DURHAM-CHAPEL HILL, NC 3 $1,555,000 $518,333
KINGSTON, NY 4 $1,540,000 $385,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $1,515,000 $1,515,000
STOCKTON, CA 4 $1,500,000 $375,000
TRENTON-PRINCETON, NJ 3 $1,485,000 $495,000
CLEVELAND-ELYRIA, OH 2 $1,470,000 $735,000
TACOMA-LAKEWOOD, WA 3 $1,445,000 $481,667
SAVANNAH, GA 6 $1,370,000 $228,333
BOISE CITY, ID 4 $1,320,000 $330,000
COEUR D'ALENE, ID 3 $1,295,000 $431,667
PORTLAND-SOUTH PORTLAND, ME 3 $1,295,000 $431,667
DES MOINES-WEST DES MOINES, IA 1 $1,255,000 $1,255,000
FORT COLLINS, CO 3 $1,245,000 $415,000
NEW ORLEANS-METAIRIE, LA 3 $1,215,000 $405,000
BEND, OR 3 $1,195,000 $398,333
COLUMBUS, OH 2 $1,170,000 $585,000
PITTSBURGH, PA 3 $1,075,000 $358,333
NORWICH-NEW LONDON, CT 1 $1,045,000 $1,045,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 3 $1,045,000 $348,333
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 3 $1,035,000 $345,000
MEMPHIS, TN-MS-AR 2 $1,020,000 $510,000
JACKSONVILLE, FL 4 $1,010,000 $252,500
EUGENE-SPRINGFIELD, OR 1 $925,000 $925,000
BUFFALO-CHEEKTOWAGA, NY 2 $910,000 $455,000
ALBUQUERQUE, NM 2 $880,000 $440,000
RICHMOND, VA 2 $880,000 $440,000
ASHEVILLE, NC 2 $820,000 $410,000
KNOXVILLE, TN 1 $815,000 $815,000
HILTON HEAD ISLAND-BLUFFTON, SC 3 $745,000 $248,333
RAPID CITY, SD 1 $735,000 $735,000
ROCHESTER, NY 3 $675,000 $225,000
REDDING, CA 2 $630,000 $315,000
DETROIT-DEARBORN-LIVONIA, MI 1 $625,000 $625,000
SANTA CRUZ-WATSONVILLE, CA 2 $600,000 $300,000
MONROE, LA 1 $595,000 $595,000
WICHITA, KS 1 $595,000 $595,000
SANTA FE, NM 1 $545,000 $545,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 1 $515,000 $515,000
SEBASTIAN-VERO BEACH, FL 1 $505,000 $505,000
BELLINGHAM, WA 1 $505,000 $505,000
NEW HAVEN-MILFORD, CT 1 $505,000 $505,000
AUBURN-OPELIKA, AL 1 $495,000 $495,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 1 $475,000 $475,000
YORK-HANOVER, PA 1 $465,000 $465,000
WORCESTER, MA-CT 1 $465,000 $465,000
EL CENTRO, CA 2 $460,000 $230,000
LAKE HAVASU CITY-KINGMAN, AZ 1 $455,000 $455,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 2 $440,000 $220,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 2 $430,000 $215,000
LAFAYETTE, LA 1 $425,000 $425,000
CHEYENNE, WY 1 $425,000 $425,000
YAKIMA, WA 1 $385,000 $385,000
OLYMPIA-LACEY-TUMWATER, WA 1 $375,000 $375,000
CHARLOTTESVILLE, VA 1 $345,000 $345,000
WILMINGTON, NC 1 $335,000 $335,000
MILWAUKEE-WAUKESHA, WI 1 $335,000 $335,000
MODESTO, CA 1 $335,000 $335,000
GREEN BAY, WI 1 $325,000 $325,000
MOUNT VERNON-ANACORTES, WA 1 $325,000 $325,000
PUNTA GORDA, FL 1 $305,000 $305,000
BILLINGS, MT 1 $285,000 $285,000
CORVALLIS, OR 1 $285,000 $285,000
LEBANON, PA 1 $275,000 $275,000
ST. CLOUD, MN 1 $275,000 $275,000
WENATCHEE, WA 1 $265,000 $265,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $255,000 $255,000
SPRINGFIELD, MA 1 $255,000 $255,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $255,000 $255,000
KANSAS CITY, MO-KS 1 $255,000 $255,000
KENNEWICK-RICHLAND, WA 1 $255,000 $255,000
WILMINGTON, DE-MD-NJ 1 $255,000 $255,000
MADERA, CA 1 $245,000 $245,000
SYRACUSE, NY 1 $235,000 $235,000
BOWLING GREEN, KY 1 $215,000 $215,000
HUNTSVILLE, AL 1 $205,000 $205,000
LAKELAND-WINTER HAVEN, FL 1 $205,000 $205,000
CHICO, CA 1 $205,000 $205,000
MADISON, WI 1 $205,000 $205,000
GLENS FALLS, NY 1 $195,000 $195,000
MISSOULA, MT 1 $195,000 $195,000
STATE COLLEGE, PA 1 $175,000 $175,000
FARMINGTON, NM 1 $125,000 $125,000
DULUTH, MN-WI 1 $115,000 $115,000
GRAND FORKS, ND-MN 1 $105,000 $105,000
BAKERSFIELD, CA 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% 29 $89,165,000 $3,074,655
2.5-3% 462 $974,040,000 $2,108,312
3-4% 3,100 $3,442,170,000 $1,110,377
4-5% 498 $424,780,000 $852,972
5-6% 335 $177,475,000 $529,776
6-7% 39 $4,115,000 $105,513
7-8% 1 $75,000 $75,000
Over 8% 3 $105,000 $35,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 108 $7,110,000 $65,833
$100k-200k 301 $41,065,000 $136,429
$200k-400k 757 $218,225,000 $288,276
$400k-600k 776 $387,410,000 $499,240
$600k-1000k 900 $691,990,000 $768,878
$Over $1MM 1,625 $3,766,125,000 $2,317,615

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% 839 $743,685,000 $886,395
40-60% 877 $1,223,055,000 $1,394,590
60-80% 1,681 $2,424,815,000 $1,442,484
80-100% 408 $457,320,000 $1,120,882
Under 20% 662 $263,050,000 $397,356

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 332 $160,500,000 $483,434
$150k-250k 645 $383,505,000 $594,581
$50k-75k 140 $59,330,000 $423,786
$50k-or less 284 $251,530,000 $885,669
$75k-100k 142 $65,150,000 $458,803
$Over $250k 2,340 $2,954,210,000 $1,262,483

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 2,965 $2,937,715,000 $990,798
Not applicable 496 $1,149,190,000 $2,316,915
Not provided 737 $760,165,000 $1,031,431
Asian 160 $142,230,000 $888,938
Black 90 $108,790,000 $1,208,778
Native Hawaiian 10 $8,910,000 $891,000
American Indian 6 $2,830,000 $471,667
Other Asian 2 $1,730,000 $865,000
Asian Indian 1 $365,000 $365,000

Approval Rates

Total approvals of all applications
90.51%

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
81.90%

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 4,467 $5,111,925,000 $1,144,375

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,956 $2,338,720,000 $1,195,665
$1k-2k 1,183 $1,674,765,000 $1,415,693
$2k-3k 7 $13,895,000 $1,985,000
$3k-4k 3 $1,445,000 $481,667
$5k+ 15 $22,055,000 $1,470,333

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
Multifamily:Site-Built 49 $342,915,000 $6,998,265
Single Family (1-4 Units):Manufactured 1 $1,505,000 $1,505,000
Single Family (1-4 Units):Site-Built 4,417 $4,767,505,000 $1,079,354