Zb, N.a.

SALT LAKE CITY, UT 84133-1109

LEI: 8WH0EE09O9V05QJZ3V89

Tax ID: 87-0189025

2019 Data | 2018 Data


Overview

Zb, N.a. is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Zb, N.a. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Houston, Las Vegas, Salt Lake City, Denver, and Phoenix among others. They have an 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. Zb, N.a. is typically a lendor.


Originations

16,260

Origination Dollar Volume (All Markets)

$5,195,060,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 16,051 $5,138,725,000 $320,150
FHA 99 $23,135,000 $233,687
VA 93 $29,855,000 $321,022
USDA 17 $3,345,000 $196,765

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 3,312 $1,956,540,000 $590,743
Home Improvement 2,538 $399,190,000 $157,285
Other 4,136 $689,310,000 $166,661
Refi 3,494 $1,173,470,000 $335,853
Cash Out Refi 2,780 $976,550,000 $351,277

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 2,370 $834,820,000 $352,245
Outside of Metro Areas 2,237 $620,495,000 $277,378
LAS VEGAS-HENDERSON-PARADISE, NV 1,585 $435,745,000 $274,918
SALT LAKE CITY, UT 1,069 $356,585,000 $333,569
DENVER-AURORA-LAKEWOOD, CO 1,421 $355,435,000 $250,130
PHOENIX-MESA-CHANDLER, AZ 908 $283,440,000 $312,159
LOS ANGELES-LONG BEACH-GLENDALE, CA 440 $258,510,000 $587,523
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 392 $191,670,000 $488,954
PROVO-OREM, UT 522 $158,520,000 $303,678
ST. GEORGE, UT 453 $138,355,000 $305,419
OGDEN-CLEARFIELD, UT 473 $130,815,000 $276,564
DALLAS-PLANO-IRVING, TX 251 $122,645,000 $488,625
ANAHEIM-SANTA ANA-IRVINE, CA 212 $102,770,000 $484,764
AUSTIN-ROUND ROCK-GEORGETOWN, TX 118 $99,100,000 $839,831
OAKLAND-BERKELEY-LIVERMORE, CA 110 $85,190,000 $774,455
BOISE CITY, ID 348 $78,510,000 $225,603
TUCSON, AZ 303 $71,855,000 $237,145
PRESCOTT VALLEY-PRESCOTT, AZ 310 $67,140,000 $216,581
BOULDER, CO 261 $63,515,000 $243,352
SEATTLE-BELLEVUE-KENT, WA 58 $60,630,000 $1,045,345
SAN ANTONIO-NEW BRAUNFELS, TX 147 $56,655,000 $385,408
OXNARD-THOUSAND OAKS-VENTURA, CA 16 $46,960,000 $2,935,000
RENO, NV 208 $46,540,000 $223,750
COLORADO SPRINGS, CO 245 $45,205,000 $184,510
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 71 $42,115,000 $593,169
LOGAN, UT-ID 211 $39,835,000 $188,791
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 135 $38,475,000 $285,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 74 $34,590,000 $467,432
FLAGSTAFF, AZ 129 $32,705,000 $253,527
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 11 $28,285,000 $2,571,364
IDAHO FALLS, ID 141 $24,025,000 $170,390
SALINAS, CA 4 $22,180,000 $5,545,000
LAKE HAVASU CITY-KINGMAN, AZ 169 $21,775,000 $128,846
SACRAMENTO-ROSEVILLE-FOLSOM, CA 56 $19,340,000 $345,357
FRESNO, CA 68 $18,610,000 $273,676
YUMA, AZ 94 $16,670,000 $177,340
EL CENTRO, CA 3 $14,945,000 $4,981,667
GREELEY, CO 54 $11,990,000 $222,037
PUEBLO, CO 91 $11,385,000 $125,110
FORT COLLINS, CO 65 $10,745,000 $165,308
SAN RAFAEL, CA 12 $10,060,000 $838,333
GRAND JUNCTION, CO 51 $9,645,000 $189,118
FORT WORTH-ARLINGTON-GRAPEVINE, TX 35 $9,395,000 $268,429
POCATELLO, ID 48 $7,870,000 $163,958
TWIN FALLS, ID 40 $5,990,000 $149,750
SIERRA VISTA-DOUGLAS, AZ 63 $5,855,000 $92,937
FARMINGTON, NM 32 $4,400,000 $137,500
CARSON CITY, NV 22 $3,950,000 $179,545
BAKERSFIELD, CA 12 $3,770,000 $314,167
LEWISTON, ID-WA 23 $3,275,000 $142,391
SANTA CRUZ-WATSONVILLE, CA 3 $2,825,000 $941,667
STOCKTON, CA 5 $2,445,000 $489,000
SAN LUIS OBISPO-PASO ROBLES, CA 6 $2,380,000 $396,667
BREMERTON-SILVERDALE-PORT ORCHARD, WA 2 $1,900,000 $950,000
CORPUS CHRISTI, TX 4 $1,750,000 $437,500
KAHULUI-WAILUKU-LAHAINA, HI 1 $1,505,000 $1,505,000
VALLEJO, CA 5 $1,395,000 $279,000
MIDLAND, TX 2 $1,300,000 $650,000
COLLEGE STATION-BRYAN, TX 6 $1,280,000 $213,333
ALBUQUERQUE, NM 4 $1,220,000 $305,000
MADERA, CA 3 $1,195,000 $398,333
NAPA, CA 1 $995,000 $995,000
LUBBOCK, TX 2 $920,000 $460,000
COEUR D'ALENE, ID 3 $885,000 $295,000
SANTA FE, NM 2 $880,000 $440,000
GRANTS PASS, OR 3 $865,000 $288,333
VISALIA, CA 3 $835,000 $278,333
BRIDGEPORT-STAMFORD-NORWALK, CT 1 $815,000 $815,000
SPOKANE-SPOKANE VALLEY, WA 4 $760,000 $190,000
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1 $755,000 $755,000
TACOMA-LAKEWOOD, WA 2 $690,000 $345,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $555,000 $555,000
BEAUMONT-PORT ARTHUR, TX 2 $520,000 $260,000
KILLEEN-TEMPLE, TX 2 $510,000 $255,000
SANTA MARIA-SANTA BARBARA, CA 2 $450,000 $225,000
SHERMAN-DENISON, TX 4 $410,000 $102,500
MEDFORD, OR 1 $405,000 $405,000
SANTA ROSA-PETALUMA, CA 3 $325,000 $108,333
YUBA CITY, CA 2 $290,000 $145,000
LONGVIEW, TX 1 $205,000 $205,000
WACO, TX 2 $200,000 $100,000
TYLER, TX 1 $175,000 $175,000
CASPER, WY 1 $145,000 $145,000
MCALLEN-EDINBURG-MISSION, TX 1 $115,000 $115,000
CORVALLIS, OR 1 $105,000 $105,000
MERCED, CA 1 $45,000 $45,000
MODESTO, CA 1 $25,000 $25,000

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% 756 $96,250,000 $127,315
2.5-3% 1,442 $320,960,000 $222,580
3-4% 8,186 $3,064,910,000 $374,409
4-5% 2,389 $1,023,985,000 $428,625
5-6% 2,834 $584,200,000 $206,140
6-7% 506 $91,890,000 $181,601
7-8% 96 $9,220,000 $96,042
Over 8% 50 $3,520,000 $70,400

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 4,496 $251,100,000 $55,850
$100k-200k 4,048 $573,520,000 $141,680
$200k-400k 4,335 $1,204,975,000 $277,964
$400k-600k 1,638 $783,790,000 $478,504
$600k-1000k 1,021 $771,965,000 $756,087
$Over $1MM 722 $1,609,710,000 $2,229,515

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% 3,890 $736,820,000 $189,414
40-60% 2,542 $1,158,070,000 $455,574
60-80% 4,258 $2,155,280,000 $506,172
80-100% 2,090 $839,890,000 $401,861
Over 100% 21 $17,885,000 $851,667
Under 20% 3,459 $287,115,000 $83,005

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 3,227 $687,025,000 $212,899
$150k-250k 3,044 $924,470,000 $303,702
$50k-75k 2,445 $339,435,000 $138,828
$50k-or less 1,615 $151,805,000 $93,997
$75k-100k 2,194 $370,050,000 $168,665
$Over $250k 2,900 $1,944,090,000 $670,376

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 13,645 $3,683,195,000 $269,930
Not applicable 120 $616,580,000 $5,138,167
Not provided 1,091 $489,905,000 $449,042
Asian 576 $225,370,000 $391,267
Black 204 $44,610,000 $218,676
Chinese 98 $28,760,000 $293,469
American Indian 144 $22,290,000 $154,792
Asian Indian 73 $16,465,000 $225,548
Vietnamese 55 $14,445,000 $262,636
Other Asian 59 $12,285,000 $208,220
Korean 43 $11,965,000 $278,256
Filipino 51 $9,655,000 $189,314
Native Hawaiian 38 $9,570,000 $251,842
Japanese 37 $7,275,000 $196,622
Other Pacific Islander 14 $1,430,000 $102,143
Native Hawiian 8 $920,000 $115,000
Samoan 2 $250,000 $125,000
Guamanian 2 $90,000 $45,000

Approval Rates

Total approvals of all applications
72.88%

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
69.80%

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 16,260 $5,195,060,000 $319,499

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,357 $468,855,000 $345,508
$1k-2k 1,855 $806,195,000 $434,606
$2k-3k 599 $188,245,000 $314,265
$3k-4k 727 $368,475,000 $506,843
$5k+ 1,041 $777,525,000 $746,902

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 94 $587,870,000 $6,253,936
Single Family (1-4 Units):Manufactured 376 $31,470,000 $83,697
Single Family (1-4 Units):Site-Built 15,790 $4,575,720,000 $289,786