Crowdcopia Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 9845001ADACA7A75EE02

Tax ID: 81-3473847

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Crowdcopia is a smaller mortgage company specializing in Home Purchase loans. Crowdcopia has a high proportion of conventional loans. Their top two markets are Philadelphia and Scranton .

Crowdcopia 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

127

Origination Dollar Volume (All Markets)

$23,295,000

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 107 $21,085,000 $197,056 $0 12.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 20 $2,210,000 $110,500 $0 12.00%
Crowdcopia's top markets include Philadelphia and Scranton among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $23,295,000 $183,425 $0 12.00%

    For 2023, Crowdcopia's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 127 $23,295,000 $183,425 $0 12.00%

    For 2023, Crowdcopia's most frequently cited loan purpose was Home Purchase, with 127 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 109 $19,465,000 $178,578 $0 12.00%
    1 Year 18 $3,830,000 $212,778 $0 12.00%

    For 2023, Crowdcopia's most frequently cited loan duration was Other, with 109 originations. The 2nd most popular length was 1 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 44 $6,590,000 $149,773
    $5k+ 36 $10,410,000 $289,167
    $2k-3k 25 $2,655,000 $106,200
    $4k-5k 18 $3,270,000 $181,667
    $1k-2k 4 $370,000 $92,500

    Crowdcopia's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 127 $23,295,000 $183,425

    During 2023, Crowdcopia's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 74 $11,000,000 $148,649 $0 12.00%
    $200k-400k 30 $7,980,000 $266,000 $0 12.00%
    $100,000 or less 17 $1,475,000 $86,765 $0 12.00%
    $400k-600k 6 $2,840,000 $473,333 $0 12.00%

    2023 saw Crowdcopia place emphasis on $100k-200k loans with 74 originations, totaling $11,000,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $10,795,000 $176,967 $0 12.00%
    Black 39 $6,315,000 $161,923 $0 12.00%
    Chinese 13 $4,065,000 $312,692 $0 12.00%
    Not applicable 9 $1,395,000 $155,000 $0 12.00%
    Asian Indian 2 $350,000 $175,000 $0 12.00%
    Asian 2 $260,000 $130,000 $0 12.00%
    Native Hawaiian 1 $115,000 $115,000 $0 12.00%

    Approval Rates

    Total approvals of all applications
    99.54%

    Crowdcopia 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
    28.35%

    Crowdcopia 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 127 $23,295,000 $183,425

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    127 $23,295,000 $183,425

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 5 $645,000 $129,000 $0 12.00%
    60-80% 122 $22,650,000 $185,656 $0 12.00%