Commercial Loan Corporation Mortgage Rates, Fees & Info
NEWPORT BEACH, CALEI: 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
9Origination Dollar Volume (All Markets)
$2,265,000Top 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% |
Their top states include:
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 applications100.00%
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 originationPoints 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% |