Keybank National Association

Cleveland, OH 44107

LEI: HUX2X73FUCYHUVH1BK78

Tax ID: 34-0797057

2019 Data *Active* | 2018 Data


Overview

Keybank National Association is a large mortgage company specializing in Home Purchase and Refi loans. Keybank National Association has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Seattle, Denver, Portland, Buffalo, and Salt Lake City among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Keybank National Association is typically a low/ fee lendor.


Originations

36,758

Origination Dollar Volume (All Markets)

$14,210,360,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 36,293 $13,815,735,000 $380,672
FHA 365 $374,155,000 $1,025,082
VA 100 $20,470,000 $204,700

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 7,184 $5,391,470,000 $750,483
Home Improvement 5,202 $519,410,000 $99,848
Other 8,466 $964,990,000 $113,984
Refi 12,689 $6,413,125,000 $505,408
Cash Out Refi 3,217 $921,365,000 $286,405

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
SEATTLE-BELLEVUE-KENT, WA 2,162 $911,150,000 $421,438
Outside of Metro Areas 4,117 $819,275,000 $198,998
DENVER-AURORA-LAKEWOOD, CO 1,378 $577,630,000 $419,180
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1,954 $566,240,000 $289,785
BUFFALO-CHEEKTOWAGA, NY 2,912 $458,340,000 $157,397
SALT LAKE CITY, UT 659 $435,965,000 $661,555
CLEVELAND-ELYRIA, OH 2,594 $418,350,000 $161,276
COLUMBUS, OH 664 $317,320,000 $477,892
LAS VEGAS-HENDERSON-PARADISE, NV 23 $280,525,000 $12,196,739
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 18 $276,250,000 $15,347,222
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 9 $255,325,000 $28,369,444
PHOENIX-MESA-CHANDLER, AZ 85 $252,035,000 $2,965,118
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 10 $237,460,000 $23,746,000
ALBANY-SCHENECTADY-TROY, NY 948 $235,750,000 $248,681
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 661 $233,345,000 $353,018
TACOMA-LAKEWOOD, WA 990 $216,640,000 $218,828
BOSTON, MA 39 $216,245,000 $5,544,744
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 20 $215,190,000 $10,759,500
AKRON, OH 727 $187,135,000 $257,407
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 2 $182,940,000 $91,470,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 36 $178,170,000 $4,949,167
SACRAMENTO-ROSEVILLE-FOLSOM, CA 15 $173,285,000 $11,552,333
NEW HAVEN-MILFORD, CT 492 $170,970,000 $347,500
PITTSBURGH, PA 1,019 $170,865,000 $167,679
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 23 $160,415,000 $6,974,565
BOISE CITY, ID 753 $158,765,000 $210,843
SAN ANTONIO-NEW BRAUNFELS, TX 10 $153,050,000 $15,305,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 780 $141,460,000 $181,359
PORTLAND-SOUTH PORTLAND, ME 728 $141,370,000 $194,190
LOS ANGELES-LONG BEACH-GLENDALE, CA 48 $137,930,000 $2,873,542
OGDEN-CLEARFIELD, UT 384 $136,630,000 $355,807
INDIANAPOLIS-CARMEL-ANDERSON, IN 957 $135,975,000 $142,085
ROCHESTER, NY 720 $133,680,000 $185,667
ORLANDO-KISSIMMEE-SANFORD, FL 31 $133,315,000 $4,300,484
FORT WORTH-ARLINGTON-GRAPEVINE, TX 7 $130,595,000 $18,656,429
BRIDGEPORT-STAMFORD-NORWALK, CT 256 $117,690,000 $459,727
FLAGSTAFF, AZ 4 $112,430,000 $28,107,500
LOUISVILLE/JEFFERSON COUNTY, KY-IN 6 $112,150,000 $18,691,667
SALEM, OR 300 $110,400,000 $368,000
TOLEDO, OH 690 $108,060,000 $156,609
CINCINNATI, OH-KY-IN 595 $107,725,000 $181,050
ANN ARBOR, MI 214 $103,450,000 $483,411
OAKLAND-BERKELEY-LIVERMORE, CA 15 $101,795,000 $6,786,333
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 22 $96,020,000 $4,364,545
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 533 $96,005,000 $180,122
READING, PA 71 $86,935,000 $1,224,437
CHICAGO-NAPERVILLE-EVANSTON, IL 24 $85,770,000 $3,573,750
DALLAS-PLANO-IRVING, TX 17 $85,305,000 $5,017,941
BIRMINGHAM-HOOVER, AL 5 $85,215,000 $17,043,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 49 $82,805,000 $1,689,898
WORCESTER, MA-CT 112 $78,460,000 $700,536
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 437 $76,815,000 $175,778
CHARLOTTE-CONCORD-GASTONIA, NC-SC 15 $76,595,000 $5,106,333
NAPLES-MARCO ISLAND, FL 44 $73,260,000 $1,665,000
SYRACUSE, NY 584 $72,630,000 $124,366
WARREN-TROY-FARMINGTON HILLS, MI 180 $72,570,000 $403,167
NORTH PORT-SARASOTA-BRADENTON, FL 21 $70,775,000 $3,370,238
NEWARK, NJ-PA 14 $68,150,000 $4,867,857
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 33 $60,945,000 $1,846,818
LAKE COUNTY-KENOSHA COUNTY, IL-WI 2 $57,750,000 $28,875,000
MIAMI-MIAMI BEACH-KENDALL, FL 14 $55,420,000 $3,958,571
LANCASTER, PA 6 $54,670,000 $9,111,667
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 9 $51,865,000 $5,762,778
CANTON-MASSILLON, OH 433 $50,005,000 $115,485
DAYTON-KETTERING, OH 246 $49,390,000 $200,772
PHILADELPHIA, PA 64 $49,090,000 $767,031
PROVO-OREM, UT 177 $48,705,000 $275,169
PROVIDENCE-WARWICK, RI-MA 12 $46,110,000 $3,842,500
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 3 $45,275,000 $15,091,667
ST. LOUIS, MO-IL 5 $42,695,000 $8,539,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 3 $42,265,000 $14,088,333
EUGENE-SPRINGFIELD, OR 258 $41,590,000 $161,202
WILMINGTON, DE-MD-NJ 12 $41,560,000 $3,463,333
OLYMPIA-LACEY-TUMWATER, WA 218 $40,330,000 $185,000
BOULDER, CO 92 $38,670,000 $420,326
AUGUSTA-RICHMOND COUNTY, GA-SC 2 $38,290,000 $19,145,000
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 5 $37,755,000 $7,551,000
BURLINGTON-SOUTH BURLINGTON, VT 184 $37,130,000 $201,793
FORT COLLINS, CO 149 $37,065,000 $248,758
BREMERTON-SILVERDALE-PORT ORCHARD, WA 152 $36,450,000 $239,803
BELLINGHAM, WA 155 $35,265,000 $227,516
ASHEVILLE, NC 3 $34,785,000 $11,595,000
LEXINGTON-FAYETTE, KY 2 $34,410,000 $17,205,000
ANAHEIM-SANTA ANA-IRVINE, CA 39 $33,515,000 $859,359
COLORADO SPRINGS, CO 117 $32,225,000 $275,427
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 4 $31,830,000 $7,957,500
BALTIMORE-COLUMBIA-TOWSON, MD 5 $30,955,000 $6,191,000
YAKIMA, WA 203 $30,895,000 $152,192
BATON ROUGE, LA 1 $30,175,000 $30,175,000
MEDFORD, OR 144 $30,040,000 $208,611
KNOXVILLE, TN 4 $30,010,000 $7,502,500
NASSAU COUNTY-SUFFOLK COUNTY, NY 59 $28,875,000 $489,407
WINSTON-SALEM, NC 3 $28,845,000 $9,615,000
NORWICH-NEW LONDON, CT 31 $28,525,000 $920,161
DETROIT-DEARBORN-LIVONIA, MI 82 $28,390,000 $346,220
KANSAS CITY, MO-KS 4 $28,330,000 $7,082,500
RALEIGH-CARY, NC 4 $27,370,000 $6,842,500
ALBANY-LEBANON, OR 175 $27,295,000 $155,971
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 2 $26,950,000 $13,475,000
UTICA-ROME, NY 242 $26,070,000 $107,727
ANCHORAGE, AK 165 $25,955,000 $157,303
IDAHO FALLS, ID 167 $24,085,000 $144,222
BEND, OR 37 $22,335,000 $603,649
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 30 $21,500,000 $716,667
TULSA, OK 1 $20,625,000 $20,625,000
KINGSTON, NY 125 $20,455,000 $163,640
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 179 $20,095,000 $112,263
KENNEWICK-RICHLAND, WA 98 $19,610,000 $200,102
MANCHESTER-NASHUA, NH 2 $18,890,000 $9,445,000
CLARKSVILLE, TN-KY 1 $18,855,000 $18,855,000
PORT ST. LUCIE, FL 11 $18,705,000 $1,700,455
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 4 $18,380,000 $4,595,000
NEW BRUNSWICK-LAKEWOOD, NJ 22 $18,200,000 $827,273
MOUNT VERNON-ANACORTES, WA 53 $17,985,000 $339,340
RICHMOND, VA 3 $17,785,000 $5,928,333
SOUTH BEND-MISHAWAKA, IN-MI 150 $17,390,000 $115,933
BANGOR, ME 133 $17,305,000 $130,113
SPRINGFIELD, MA 131 $17,005,000 $129,809
MONROE, MI 142 $16,950,000 $119,366
SANTA FE, NM 5 $16,505,000 $3,301,000
GREELEY, CO 75 $16,215,000 $216,200
GLENS FALLS, NY 58 $16,090,000 $277,414
COLUMBIA, SC 2 $15,900,000 $7,950,000
ELKHART-GOSHEN, IN 144 $15,750,000 $109,375
LYNCHBURG, VA 1 $15,605,000 $15,605,000
JACKSONVILLE, FL 8 $15,430,000 $1,928,750
CAPE CORAL-FORT MYERS, FL 49 $15,395,000 $314,184
HATTIESBURG, MS 1 $14,695,000 $14,695,000
EVANSVILLE, IN-KY 5 $14,545,000 $2,909,000
EAU CLAIRE, WI 1 $14,025,000 $14,025,000
WACO, TX 1 $13,605,000 $13,605,000
MODESTO, CA 1 $13,205,000 $13,205,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 130 $12,920,000 $99,385
OMAHA-COUNCIL BLUFFS, NE-IA 2 $12,900,000 $6,450,000
WATERTOWN-FORT DRUM, NY 91 $12,515,000 $137,527
LEWISTON-AUBURN, ME 97 $11,675,000 $120,361
MILWAUKEE-WAUKESHA, WI 5 $11,415,000 $2,283,000
LOGAN, UT-ID 49 $11,335,000 $231,327
WENATCHEE, WA 43 $10,785,000 $250,814
ERIE, PA 90 $10,130,000 $112,556
GREENSBORO-HIGH POINT, NC 4 $10,010,000 $2,502,500
MEMPHIS, TN-MS-AR 2 $9,740,000 $4,870,000
VALLEJO, CA 2 $9,510,000 $4,755,000
FLINT, MI 9 $9,435,000 $1,048,333
TOPEKA, KS 3 $9,365,000 $3,121,667
TWIN FALLS, ID 59 $9,275,000 $157,203
HUNTSVILLE, AL 1 $9,105,000 $9,105,000
ST. GEORGE, UT 21 $8,845,000 $421,190
CORVALLIS, OR 43 $8,315,000 $193,372
HILTON HEAD ISLAND-BLUFFTON, SC 6 $8,240,000 $1,373,333
POCATELLO, ID 50 $7,520,000 $150,400
LUBBOCK, TX 1 $7,515,000 $7,515,000
HARRISBURG-CARLISLE, PA 6 $7,440,000 $1,240,000
LANSING-EAST LANSING, MI 8 $7,300,000 $912,500
GAINESVILLE, GA 1 $7,265,000 $7,265,000
SPOKANE-SPOKANE VALLEY, WA 43 $7,045,000 $163,837
BLOOMINGTON, IN 9 $6,795,000 $755,000
WARNER ROBINS, GA 1 $6,305,000 $6,305,000
CHAMPAIGN-URBANA, IL 2 $6,190,000 $3,095,000
LONGVIEW, WA 32 $5,940,000 $185,625
MOBILE, AL 2 $5,870,000 $2,935,000
BINGHAMTON, NY 61 $5,495,000 $90,082
PRESCOTT VALLEY-PRESCOTT, AZ 3 $5,375,000 $1,791,667
KOKOMO, IN 63 $4,685,000 $74,365
GRANTS PASS, OR 35 $4,535,000 $129,571
WILMINGTON, NC 6 $4,450,000 $741,667
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 4 $4,350,000 $1,087,500
BATTLE CREEK, MI 1 $4,035,000 $4,035,000
KAHULUI-WAILUKU-LAHAINA, HI 3 $3,935,000 $1,311,667
MANSFIELD, OH 49 $3,885,000 $79,286
BARNSTABLE TOWN, MA 9 $3,775,000 $419,444
URBAN HONOLULU, HI 3 $3,695,000 $1,231,667
PALM BAY-MELBOURNE-TITUSVILLE, FL 10 $3,650,000 $365,000
SPRINGFIELD, OH 35 $3,565,000 $101,857
SANTA MARIA-SANTA BARBARA, CA 2 $3,370,000 $1,685,000
CAMDEN, NJ 9 $3,335,000 $370,556
FAIRBANKS, AK 23 $3,325,000 $144,565
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 10 $3,190,000 $319,000
TUCSON, AZ 9 $3,095,000 $343,889
PENSACOLA-FERRY PASS-BRENT, FL 1 $2,995,000 $2,995,000
SAN LUIS OBISPO-PASO ROBLES, CA 3 $2,855,000 $951,667
ITHACA, NY 21 $2,755,000 $131,190
CHARLESTON-NORTH CHARLESTON, SC 8 $2,640,000 $330,000
GRAND RAPIDS-KENTWOOD, MI 7 $2,575,000 $367,857
RENO, NV 4 $2,540,000 $635,000
PUNTA GORDA, FL 9 $2,115,000 $235,000
COEUR D'ALENE, ID 6 $2,000,000 $333,333
JACKSON, MI 15 $1,915,000 $127,667
ALBUQUERQUE, NM 4 $1,820,000 $455,000
TRENTON-PRINCETON, NJ 5 $1,785,000 $357,000
KALAMAZOO-PORTAGE, MI 4 $1,750,000 $437,500
AUSTIN-ROUND ROCK-GEORGETOWN, TX 2 $1,660,000 $830,000
GRAND JUNCTION, CO 5 $1,645,000 $329,000
FORT WAYNE, IN 7 $1,565,000 $223,571
GARY, IN 9 $1,565,000 $173,889
STOCKTON, CA 3 $1,315,000 $438,333
EAST STROUDSBURG, PA 13 $1,315,000 $101,154
ATLANTIC CITY-HAMMONTON, NJ 4 $1,280,000 $320,000
OKLAHOMA CITY, OK 2 $1,260,000 $630,000
SCRANTON--WILKES-BARRE, PA 8 $1,240,000 $155,000
LEWISTON, ID-WA 2 $1,230,000 $615,000
FRESNO, CA 3 $1,225,000 $408,333
THE VILLAGES, FL 7 $1,215,000 $173,571
OCEAN CITY, NJ 3 $1,205,000 $401,667
SAVANNAH, GA 3 $1,145,000 $381,667
MICHIGAN CITY-LA PORTE, IN 2 $1,130,000 $565,000
LAFAYETTE-WEST LAFAYETTE, IN 8 $1,040,000 $130,000
LAKELAND-WINTER HAVEN, FL 7 $1,035,000 $147,857
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 6 $1,030,000 $171,667
PITTSFIELD, MA 5 $845,000 $169,000
SALINAS, CA 1 $845,000 $845,000
NEW ORLEANS-METAIRIE, LA 2 $840,000 $420,000
PUEBLO, CO 5 $825,000 $165,000
DURHAM-CHAPEL HILL, NC 2 $800,000 $400,000
OXNARD-THOUSAND OAKS-VENTURA, CA 1 $755,000 $755,000
JONESBORO, AR 1 $725,000 $725,000
NAPA, CA 1 $725,000 $725,000
AMARILLO, TX 1 $675,000 $675,000
SHREVEPORT-BOSSIER CITY, LA 2 $670,000 $335,000
TERRE HAUTE, IN 3 $645,000 $215,000
ELMIRA, NY 2 $610,000 $305,000
GREENVILLE-ANDERSON, SC 3 $585,000 $195,000
REDDING, CA 2 $580,000 $290,000
STATE COLLEGE, PA 2 $580,000 $290,000
GAINESVILLE, FL 2 $570,000 $285,000
VISALIA, CA 1 $565,000 $565,000
MIDLAND, MI 1 $545,000 $545,000
NILES, MI 4 $500,000 $125,000
LAS CRUCES, NM 1 $485,000 $485,000
LEBANON, PA 2 $430,000 $215,000
SEBASTIAN-VERO BEACH, FL 2 $420,000 $210,000
MUNCIE, IN 5 $415,000 $83,000
HICKORY-LENOIR-MORGANTON, NC 1 $405,000 $405,000
TYLER, TX 1 $395,000 $395,000
HAGERSTOWN-MARTINSBURG, MD-WV 1 $365,000 $365,000
OCALA, FL 2 $350,000 $175,000
WALLA WALLA, WA 3 $335,000 $111,667
BLOOMSBURG-BERWICK, PA 1 $335,000 $335,000
WEIRTON-STEUBENVILLE, WV-OH 4 $320,000 $80,000
LAWRENCE, KS 1 $295,000 $295,000
PANAMA CITY, FL 2 $280,000 $140,000
HOUMA-THIBODAUX, LA 1 $225,000 $225,000
YUMA, AZ 1 $215,000 $215,000
COLUMBUS, IN 3 $205,000 $68,333
BROWNSVILLE-HARLINGEN, TX 1 $195,000 $195,000
ROME, GA 1 $195,000 $195,000
MADISON, WI 1 $165,000 $165,000
LIMA, OH 2 $160,000 $80,000
JOHNSTOWN, PA 2 $160,000 $80,000
KILLEEN-TEMPLE, TX 1 $125,000 $125,000
GREENVILLE, NC 1 $95,000 $95,000
MORGANTOWN, WV 1 $85,000 $85,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $45,000 $45,000
WHEELING, WV-OH 1 $35,000 $35,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 262 $31,910,000 $121,794
2.5-3% 655 $422,815,000 $645,519
3-4% 9,487 $7,536,945,000 $794,450
4-5% 10,332 $4,541,470,000 $439,554
5-6% 9,405 $1,306,265,000 $138,890
6-7% 3,998 $247,920,000 $62,011
7-8% 1,631 $72,545,000 $44,479
Over 8% 987 $34,845,000 $35,304

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 13,908 $753,590,000 $54,184
$100k-200k 10,761 $1,496,005,000 $139,021
$200k-400k 7,447 $2,042,325,000 $274,248
$400k-600k 2,471 $1,203,975,000 $487,242
$600k-1000k 1,417 $1,047,315,000 $739,107
$Over $1MM 754 $7,667,150,000 $10,168,634

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 7,335 $884,455,000 $120,580
40-60% 5,553 $2,337,905,000 $421,017
60-80% 8,290 $7,546,170,000 $910,274
80-100% 8,562 $2,940,880,000 $343,480
Over 100% 15 $5,815,000 $387,667
Under 20% 7,000 $492,880,000 $70,411

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 7,354 $1,345,550,000 $182,968
$150k-250k 5,743 $1,533,655,000 $267,048
$50k-75k 6,764 $821,510,000 $121,453
$50k-or less 5,718 $505,150,000 $88,344
$75k-100k 5,494 $769,890,000 $140,133
$Over $250k 3,828 $1,956,890,000 $511,204

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
Not applicable 302 $6,975,540,000 $23,097,815
White 30,784 $5,661,260,000 $183,903
Not provided 3,232 $979,530,000 $303,072
Asian 1,135 $389,065,000 $342,789
Black 931 $133,455,000 $143,346
American Indian 158 $28,220,000 $178,608
Native Hawaiian 73 $17,105,000 $234,315
Asian Indian 79 $14,105,000 $178,544
Other Asian 20 $3,790,000 $189,500
Chinese 11 $2,965,000 $269,545
Filipino 14 $2,090,000 $149,286
Other Pacific Islander 10 $2,000,000 $200,000
Japanese 3 $695,000 $231,667
Vietnamese 4 $320,000 $80,000
Korean 2 $220,000 $110,000

Approval Rates

Total approvals of all applications
78.41%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
83.57%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 36,758 $14,210,360,000 $386,592

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 14,205 $3,208,215,000 $225,851
$1k-2k 3,949 $998,115,000 $252,751
$2k-3k 1,255 $416,815,000 $332,124
$3k-4k 687 $283,635,000 $412,860
$5k+ 401 $271,255,000 $676,446

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Site-Built 294 $6,968,670,000 $23,702,959
Single Family (1-4 Units):Manufactured 689 $73,645,000 $106,887
Single Family (1-4 Units):Site-Built 35,775 $7,168,045,000 $200,365