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 Home Improvement loans. Commercial Loan Corporation has a high proportion of conventional loans. Their top two markets are Los Angeles and San Jose .Commercial Loan Corporation has an above average approval rate when compared to the average across all lenders.
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Originations
4Origination Dollar Volume (All Markets)
$960,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $0 | 10.17% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 9.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 4 | $960,000 | $240,000 | $0 | 10.00% |
For 2021, Commercial Loan Corporation's most frequently originated type of loan was Conventional, with 4 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 4 | $960,000 | $240,000 | $0 | 10.00% |
For 2021, Commercial Loan Corporation's most frequently cited loan purpose was Home Improvement, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 2 | $350,000 | $175,000 | $0 | 10.00% |
| 5 Year | 2 | $610,000 | $305,000 | $0 | 10.00% |
For 2021, Commercial Loan Corporation's most frequently cited loan duration was 1 Year, with 2 originations. The 2nd most popular length was 5 Year, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 4 | $960,000 | $240,000 |
During 2021, 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 4 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 3 | $835,000 | $278,333 | $0 | 9.83% |
| $100k-200k | 1 | $125,000 | $125,000 | $0 | 10.50% |
2021 saw Commercial Loan Corporation place emphasis on $200k-400k loans with 3 originations, totaling $835,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $705,000 | $235,000 | $0 | 9.83% |
| Black | 1 | $255,000 | $255,000 | $0 | 10.50% |
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 |
|---|---|---|---|
| NA | 4 | $960,000 | $240,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| COMMERCE BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| COMMERCE BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |