Umpqua Bank

Portland, OR 97258

LEI: IFQSIUC9AGQV2NE8CN25

Tax ID: 93-0419143

2019 Data | 2018 Data


Overview

Umpqua Bank is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Umpqua Bank 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.) They have a low ratio of USDA loans. Their top markets include Portland, Seattle, Los Angeles, Bellingham, and Sacramento 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. Umpqua Bank is typically a normal fee lendor.


Originations

18,551

Origination Dollar Volume (All Markets)

$6,503,545,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 16,683 $5,944,705,000 $356,333
FHA 853 $231,175,000 $271,014
VA 876 $299,040,000 $341,370
USDA 139 $28,625,000 $205,935

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 8,275 $3,342,805,000 $403,964
Home Improvement 2,497 $300,785,000 $120,459
Other 1,826 $268,350,000 $146,961
Refi 4,120 $1,929,590,000 $468,347
Cash Out Refi 1,833 $662,015,000 $361,165

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
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 3,363 $1,246,195,000 $370,561
SEATTLE-BELLEVUE-KENT, WA 2,017 $1,096,955,000 $543,855
Outside of Metro Areas 3,703 $784,815,000 $211,940
LOS ANGELES-LONG BEACH-GLENDALE, CA 224 $335,140,000 $1,496,161
BELLINGHAM, WA 1,043 $328,885,000 $315,326
SACRAMENTO-ROSEVILLE-FOLSOM, CA 632 $203,960,000 $322,722
TACOMA-LAKEWOOD, WA 581 $192,005,000 $330,473
KENNEWICK-RICHLAND, WA 649 $173,175,000 $266,834
OAKLAND-BERKELEY-LIVERMORE, CA 257 $144,295,000 $561,459
BEND, OR 439 $144,195,000 $328,462
SALEM, OR 457 $140,085,000 $306,532
EUGENE-SPRINGFIELD, OR 540 $138,270,000 $256,056
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 157 $116,025,000 $739,013
SANTA ROSA-PETALUMA, CA 248 $109,600,000 $441,935
SPOKANE-SPOKANE VALLEY, WA 462 $107,330,000 $232,316
MEDFORD, OR 381 $106,005,000 $278,228
RENO, NV 250 $89,420,000 $357,680
MOUNT VERNON-ANACORTES, WA 250 $74,970,000 $299,880
SAN RAFAEL, CA 99 $72,015,000 $727,424
ALBANY-LEBANON, OR 328 $70,310,000 $214,360
COEUR D'ALENE, ID 264 $67,140,000 $254,318
LONGVIEW, WA 215 $65,965,000 $306,814
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 76 $63,370,000 $833,816
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 45 $52,125,000 $1,158,333
BREMERTON-SILVERDALE-PORT ORCHARD, WA 141 $48,715,000 $345,496
ANAHEIM-SANTA ANA-IRVINE, CA 61 $48,715,000 $798,607
CORVALLIS, OR 156 $47,160,000 $302,308
BOISE CITY, ID 161 $45,535,000 $282,826
VALLEJO, CA 110 $37,030,000 $336,636
GRANTS PASS, OR 179 $33,015,000 $184,441
NAPA, CA 70 $25,470,000 $363,857
CHICO, CA 85 $22,305,000 $262,412
OLYMPIA-LACEY-TUMWATER, WA 74 $21,600,000 $291,892
SALINAS, CA 5 $19,705,000 $3,941,000
YUBA CITY, CA 100 $19,150,000 $191,500
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 44 $19,080,000 $433,636
PHOENIX-MESA-CHANDLER, AZ 53 $18,755,000 $353,868
YAKIMA, WA 94 $17,810,000 $189,468
MODESTO, CA 65 $16,865,000 $259,462
OXNARD-THOUSAND OAKS-VENTURA, CA 39 $15,925,000 $408,333
LAS VEGAS-HENDERSON-PARADISE, NV 29 $15,825,000 $545,690
REDDING, CA 71 $15,745,000 $221,761
WENATCHEE, WA 57 $14,575,000 $255,702
SAN LUIS OBISPO-PASO ROBLES, CA 35 $10,885,000 $311,000
STOCKTON, CA 40 $10,650,000 $266,250
SANTA MARIA-SANTA BARBARA, CA 11 $7,495,000 $681,364
SANTA CRUZ-WATSONVILLE, CA 11 $7,015,000 $637,727
WALLA WALLA, WA 38 $6,730,000 $177,105
LEWISTON, ID-WA 46 $6,620,000 $143,913
MERCED, CA 15 $4,425,000 $295,000
BAKERSFIELD, CA 5 $2,825,000 $565,000
FRESNO, CA 10 $2,330,000 $233,000
URBAN HONOLULU, HI 2 $2,230,000 $1,115,000
LAKE HAVASU CITY-KINGMAN, AZ 9 $2,125,000 $236,111
CARSON CITY, NV 7 $1,995,000 $285,000
IDAHO FALLS, ID 6 $1,720,000 $286,667
DENVER-AURORA-LAKEWOOD, CO 4 $1,410,000 $352,500
BOULDER, CO 2 $1,080,000 $540,000
PRESCOTT VALLEY-PRESCOTT, AZ 4 $990,000 $247,500
TWIN FALLS, ID 3 $825,000 $275,000
PROVO-OREM, UT 3 $715,000 $238,333
ANCHORAGE, AK 2 $710,000 $355,000
BILLINGS, MT 3 $675,000 $225,000
SALT LAKE CITY, UT 1 $635,000 $635,000
MISSOULA, MT 1 $565,000 $565,000
GREELEY, CO 2 $480,000 $240,000
YUMA, AZ 2 $460,000 $230,000
POCATELLO, ID 4 $440,000 $110,000
OGDEN-CLEARFIELD, UT 2 $440,000 $220,000
TUCSON, AZ 3 $425,000 $141,667
KAHULUI-WAILUKU-LAHAINA, HI 1 $355,000 $355,000
FLAGSTAFF, AZ 1 $255,000 $255,000
HANFORD-CORCORAN, CA 1 $225,000 $225,000
EL CENTRO, CA 1 $205,000 $205,000
COLORADO SPRINGS, CO 1 $195,000 $195,000
MADERA, CA 1 $185,000 $185,000

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% 13 $12,345,000 $949,615
2.5-3% 207 $181,575,000 $877,174
3-4% 6,009 $3,129,665,000 $520,830
4-5% 7,132 $2,383,200,000 $334,156
5-6% 4,244 $721,900,000 $170,099
6-7% 707 $51,245,000 $72,482
7-8% 162 $18,780,000 $115,926
Over 8% 72 $4,810,000 $66,806

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 2,922 $165,960,000 $56,797
$100k-200k 3,769 $545,505,000 $144,735
$200k-400k 7,233 $2,082,785,000 $287,956
$400k-600k 2,773 $1,328,445,000 $479,064
$600k-1000k 1,171 $862,085,000 $736,196
$Over $1MM 683 $1,518,765,000 $2,223,668

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% 2,456 $533,780,000 $217,337
40-60% 2,296 $1,049,970,000 $457,304
60-80% 5,253 $2,546,315,000 $484,735
80-100% 5,591 $2,051,335,000 $366,899
Over 100% 132 $53,790,000 $407,500
Under 20% 2,725 $227,865,000 $83,620

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 4,035 $1,184,195,000 $293,481
$150k-250k 3,074 $1,179,120,000 $383,578
$50k-75k 3,551 $735,825,000 $207,216
$50k-or less 1,988 $292,040,000 $146,901
$75k-100k 3,140 $771,220,000 $245,611
$Over $250k 1,906 $1,254,260,000 $658,059

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 10,854 $3,105,420,000 $286,108
Not provided 6,509 $2,201,595,000 $338,239
Not applicable 313 $891,495,000 $2,848,227
Asian 623 $244,605,000 $392,624
Black 116 $32,730,000 $282,155
American Indian 74 $11,660,000 $157,568
Native Hawaiian 24 $6,190,000 $257,917
Other Asian 10 $3,190,000 $319,000
Chinese 6 $1,610,000 $268,333
Asian Indian 5 $1,385,000 $277,000
Vietnamese 3 $1,075,000 $358,333
Filipino 6 $880,000 $146,667
Other Pacific Islander 2 $570,000 $285,000
Japanese 2 $560,000 $280,000
Samoan 2 $360,000 $180,000
Native Hawiian 2 $220,000 $110,000

Approval Rates

Total approvals of all applications
88.72%

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
80.54%

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 18,551 $6,503,545,000 $350,577

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 4,799 $1,933,345,000 $402,864
$1k-2k 2,248 $587,570,000 $261,375
$2k-3k 1,988 $596,480,000 $300,040
$3k-4k 2,599 $1,006,075,000 $387,101
$5k+ 1,234 $722,700,000 $585,656

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:Manufactured 2 $3,830,000 $1,915,000
Multifamily:Site-Built 317 $898,865,000 $2,835,536
Single Family (1-4 Units):Manufactured 1,194 $208,260,000 $174,422
Single Family (1-4 Units):Site-Built 17,038 $5,392,590,000 $316,504