Commercial Loan Corporation Mortgage Rates, Fees & Info

NEWPORT BEACH, CA

LEI: 984500A9F1AADF548748

Tax ID: 20-8780109

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Commercial Loan Corporation is a smaller mortgage company specializing in Cash Out Refi loans. Commercial Loan Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Francisco, San Diego, Riverside, and San Luis Obispo among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Commercial Loan Corporation has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    14

    Origination Dollar Volume (All Markets)

    $4,150,000

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 6 $1,650,000 $275,000 $0 9.50%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,085,000 $361,667 $0 9.16%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $950,000 $475,000 $0 9.00%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $410,000 $205,000 $0 9.38%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.25%
    Commercial Loan Corporation's top markets include Los Angeles, San Francisco, San Diego, Riverside, and San Luis Obispo among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 14 $4,150,000 $296,429 $0 9.25%

    For 2019, Commercial Loan Corporation's most frequently originated type of loan was Conventional, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 14 $4,150,000 $296,429 $0 9.25%

    For 2019, Commercial Loan Corporation's most frequently cited loan purpose was Cash Out Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 7 $2,735,000 $390,714 $0 8.75%
    Other 6 $1,160,000 $193,333 $0 9.79%
    5 Year 1 $255,000 $255,000 $0 9.50%

    For 2019, Commercial Loan Corporation's most frequently cited loan duration was 1 Year, with 7 originations. The 2nd most popular length was Other, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 14 $4,150,000 $296,429

    During 2019, Commercial Loan Corporation's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 5 $1,385,000 $277,000 $0 9.75%
    $100k-200k 3 $375,000 $125,000 $0 9.25%
    $400k-600k 3 $1,555,000 $518,333 $0 8.91%
    $100,000 or less 2 $140,000 $70,000 $0 8.88%
    $600k-1MM 1 $695,000 $695,000 $0 8.50%

    2019 saw Commercial Loan Corporation place emphasis on $200k-400k loans with 5 originations, totaling $1,385,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 11 $3,535,000 $321,364 $0 9.27%
    White 3 $615,000 $205,000 $0 9.16%

    Approval Rates

    Total approvals of all applications
    100.00%

    Commercial Loan Corporation 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 14 $4,150,000 $296,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 14 $4,150,000 $296,429

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $375,000 $125,000 $0 9.25%
    40-60% 3 $1,565,000 $521,667 $0 9.17%
    60-80% 3 $965,000 $321,667 $0 8.91%
    80-100% 1 $585,000 $585,000 $0 8.25%
    Under 20% 4 $660,000 $165,000 $0 9.81%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMERCE BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    COMMERCE BANK Other type of mortgage Trouble during payment process 1 50.0%