Commercial Loan Corporation Mortgage Rates, Fees & Info

NEWPORT BEACH, CA

LEI: 984500A9F1AADF548748

Tax ID: 20-8780109

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Mortgage Data

Review & Overview

Commercial Loan Corporation is a smaller mortgage company specializing in Other loans. Commercial Loan Corporation has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Los Angeles, and Riverside among others. We have data for 3 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.

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Originations

9

Origination Dollar Volume (All Markets)

$2,265,000

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,285,000 $428,333 $0 9.74%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $490,000 $245,000 $0 9.99%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $490,000 $122,500 $0 9.56%
Commercial Loan Corporation's top markets include San Francisco, Los Angeles, and Riverside among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 9 $2,265,000 $251,667 $0 9.72%

    For 2020, Commercial Loan Corporation's most frequently originated type of loan was Conventional, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 6 $1,900,000 $316,667 $0 9.87%
    Home Improvement 3 $365,000 $121,667 $0 9.42%

    For 2020, Commercial Loan Corporation's most frequently cited loan purpose was Other, with 6 originations. The 2nd most popular reason was Home Improvement, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 4 $870,000 $217,500 $0 9.38%
    5 Year 3 $615,000 $205,000 $0 9.99%
    Other 2 $780,000 $390,000 $0 9.99%

    For 2020, Commercial Loan Corporation's most frequently cited loan duration was 1 Year, with 4 originations. The 2nd most popular length was 5 Year, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 9 $2,265,000 $251,667

    During 2020, 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 9 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 5 $655,000 $131,000 $0 9.65%
    $200k-400k 2 $680,000 $340,000 $0 9.99%
    $400k-600k 2 $930,000 $465,000 $0 9.62%

    2020 saw Commercial Loan Corporation place emphasis on $100k-200k loans with 5 originations, totaling $655,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 5 $1,225,000 $245,000 $0 9.69%
    Black 2 $780,000 $390,000 $0 9.99%
    White 2 $260,000 $130,000 $0 9.50%

    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 9 $2,265,000 $251,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 9 $2,265,000 $251,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $165,000 $165,000 $0 9.99%
    40-60% 5 $815,000 $163,000 $0 9.65%
    60-80% 3 $1,285,000 $428,333 $0 9.74%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COMMERCE BANK Conventional home mortgage Closing on a mortgage 2 66.7%
    COMMERCE BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%