Goldman Sachs Bank Usa

New York, NY 10282

LEI: KD3XUN7C6T14HNAYLU02

Tax ID: 13-3571598

2019 Data | 2018 Data


Jump to:

  • Originations
  • Product Mix
  • Loan Reason
  • Top Markets
  • Typical Rates
  • Loan Sizes
  • Loan to Value Info
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees
  • Dwelling Types

    • Overview

    Goldman Sachs Bank Usa is a small mortgage company specializing in Home Purchase and Refi loans. Goldman Sachs Bank Usa has a high proportion of conventional loans. Their top markets include New York, Los Angeles, Chicago, San Francisco, and Anaheim among others. They have an above 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. Goldman Sachs Bank Usa is typically a low fee lendor.


    Originations

    3,035

    Origination Dollar Volume (All Markets)

    $4,394,055,000

    Product Mix

    Loan Type Originations Total Value Average Loan
    Conventional 3,035 $4,394,055,000 $1,447,794

    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 1,697 $1,340,025,000 $789,643
    Home Improvement 220 $48,200,000 $219,091
    Other 195 $426,155,000 $2,185,410
    Refi 638 $1,990,200,000 $3,119,436
    Cash Out Refi 285 $589,475,000 $2,068,333

    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
    NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 126 $799,050,000 $6,341,667
    LOS ANGELES-LONG BEACH-GLENDALE, CA 313 $631,285,000 $2,016,885
    CHICAGO-NAPERVILLE-EVANSTON, IL 126 $320,630,000 $2,544,683
    Outside of Metro Areas 135 $293,535,000 $2,174,333
    SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 78 $245,260,000 $3,144,359
    ANAHEIM-SANTA ANA-IRVINE, CA 64 $134,320,000 $2,098,750
    SEATTLE-BELLEVUE-KENT, WA 78 $116,540,000 $1,494,103
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA 51 $112,505,000 $2,205,980
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA 104 $103,350,000 $993,750
    NASSAU COUNTY-SUFFOLK COUNTY, NY 34 $88,190,000 $2,593,824
    PHOENIX-MESA-CHANDLER, AZ 209 $74,845,000 $358,110
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 57 $74,635,000 $1,309,386
    BOSTON, MA 32 $63,090,000 $1,971,563
    WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 26 $60,630,000 $2,331,923
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX 107 $53,145,000 $496,682
    AUSTIN-ROUND ROCK-GEORGETOWN, TX 70 $51,470,000 $735,286
    MIAMI-MIAMI BEACH-KENDALL, FL 35 $50,185,000 $1,433,857
    BRIDGEPORT-STAMFORD-NORWALK, CT 26 $49,030,000 $1,885,769
    DALLAS-PLANO-IRVING, TX 92 $47,300,000 $514,130
    TAMPA-ST. PETERSBURG-CLEARWATER, FL 35 $44,315,000 $1,266,143
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 109 $43,075,000 $395,183
    NAPLES-MARCO ISLAND, FL 26 $41,490,000 $1,595,769
    OAKLAND-BERKELEY-LIVERMORE, CA 24 $37,350,000 $1,556,250
    CAMBRIDGE-NEWTON-FRAMINGHAM, MA 29 $33,755,000 $1,163,966
    KANSAS CITY, MO-KS 2 $33,210,000 $16,605,000
    TUCSON, AZ 182 $32,310,000 $177,527
    WARREN-TROY-FARMINGTON HILLS, MI 12 $28,840,000 $2,403,333
    SANTA MARIA-SANTA BARBARA, CA 13 $28,705,000 $2,208,077
    COLUMBUS, OH 4 $28,040,000 $7,010,000
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 40 $25,320,000 $633,000
    SACRAMENTO-ROSEVILLE-FOLSOM, CA 13 $24,745,000 $1,903,462
    NAPA, CA 6 $23,970,000 $3,995,000
    NEW BRUNSWICK-LAKEWOOD, NJ 20 $19,150,000 $957,500
    SAN RAFAEL, CA 9 $18,895,000 $2,099,444
    LAS VEGAS-HENDERSON-PARADISE, NV 55 $18,035,000 $327,909
    BARNSTABLE TOWN, MA 10 $17,510,000 $1,751,000
    CHARLOTTE-CONCORD-GASTONIA, NC-SC 64 $17,380,000 $271,563
    ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 2 $17,100,000 $8,550,000
    LAKE COUNTY-KENOSHA COUNTY, IL-WI 20 $16,380,000 $819,000
    CHARLESTON-NORTH CHARLESTON, SC 10 $15,820,000 $1,582,000
    DENVER-AURORA-LAKEWOOD, CO 16 $14,960,000 $935,000
    SPARTANBURG, SC 1 $14,505,000 $14,505,000
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 14 $13,950,000 $996,429
    NEWARK, NJ-PA 17 $13,145,000 $773,235
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA 18 $12,970,000 $720,556
    FORT WORTH-ARLINGTON-GRAPEVINE, TX 42 $12,550,000 $298,810
    OXNARD-THOUSAND OAKS-VENTURA, CA 10 $12,330,000 $1,233,000
    SALT LAKE CITY, UT 8 $12,320,000 $1,540,000
    SALINAS, CA 6 $12,180,000 $2,030,000
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 6 $11,420,000 $1,903,333
    FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 10 $11,190,000 $1,119,000
    SEBASTIAN-VERO BEACH, FL 9 $11,125,000 $1,236,111
    SAN ANTONIO-NEW BRAUNFELS, TX 63 $10,945,000 $173,730
    URBAN HONOLULU, HI 5 $10,735,000 $2,147,000
    ST. LOUIS, MO-IL 22 $10,630,000 $483,182
    PHILADELPHIA, PA 15 $10,615,000 $707,667
    BALTIMORE-COLUMBIA-TOWSON, MD 10 $10,520,000 $1,052,000
    RALEIGH-CARY, NC 40 $8,810,000 $220,250
    PALM BAY-MELBOURNE-TITUSVILLE, FL 3 $8,695,000 $2,898,333
    NEW HAVEN-MILFORD, CT 2 $8,560,000 $4,280,000
    NORTH PORT-SARASOTA-BRADENTON, FL 11 $8,195,000 $745,000
    SANTA ROSA-PETALUMA, CA 4 $8,040,000 $2,010,000
    BRUNSWICK, GA 4 $8,010,000 $2,002,500
    FREDERICK-GAITHERSBURG-ROCKVILLE, MD 8 $7,940,000 $992,500
    OCEAN CITY, NJ 5 $7,665,000 $1,533,000
    MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 14 $6,970,000 $497,857
    NILES, MI 4 $6,960,000 $1,740,000
    MUNCIE, IN 1 $6,605,000 $6,605,000
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 5 $6,315,000 $1,263,000
    PORT ST. LUCIE, FL 2 $6,080,000 $3,040,000
    CAPE CORAL-FORT MYERS, FL 9 $6,025,000 $669,444
    PROVIDENCE-WARWICK, RI-MA 6 $5,630,000 $938,333
    HILTON HEAD ISLAND-BLUFFTON, SC 4 $5,360,000 $1,340,000
    NEW ORLEANS-METAIRIE, LA 3 $5,205,000 $1,735,000
    JACKSONVILLE, FL 5 $5,045,000 $1,009,000
    ORLANDO-KISSIMMEE-SANFORD, FL 4 $4,790,000 $1,197,500
    PITTSBURGH, PA 4 $4,660,000 $1,165,000
    PITTSFIELD, MA 5 $4,555,000 $911,000
    RENO, NV 3 $4,365,000 $1,455,000
    JACKSON, MS 1 $4,355,000 $4,355,000
    GREENVILLE-ANDERSON, SC 4 $4,310,000 $1,077,500
    STOCKTON, CA 7 $3,755,000 $536,429
    WICHITA, KS 2 $3,690,000 $1,845,000
    RICHMOND, VA 5 $3,535,000 $707,000
    CLEVELAND-ELYRIA, OH 2 $3,190,000 $1,595,000
    CAMDEN, NJ 10 $3,190,000 $319,000
    PUNTA GORDA, FL 4 $3,150,000 $787,500
    LOUISVILLE/JEFFERSON COUNTY, KY-IN 3 $2,975,000 $991,667
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 3 $2,895,000 $965,000
    DURHAM-CHAPEL HILL, NC 13 $2,815,000 $216,538
    SANTA CRUZ-WATSONVILLE, CA 2 $2,760,000 $1,380,000
    INDIANAPOLIS-CARMEL-ANDERSON, IN 4 $2,450,000 $612,500
    PORTLAND-SOUTH PORTLAND, ME 1 $2,315,000 $2,315,000
    WENATCHEE, WA 1 $2,205,000 $2,205,000
    ATLANTIC CITY-HAMMONTON, NJ 3 $2,135,000 $711,667
    CINCINNATI, OH-KY-IN 2 $2,110,000 $1,055,000
    FLAGSTAFF, AZ 2 $2,100,000 $1,050,000
    ALBUQUERQUE, NM 2 $2,020,000 $1,010,000
    SANTA FE, NM 1 $2,005,000 $2,005,000
    NORWICH-NEW LONDON, CT 1 $1,875,000 $1,875,000
    DETROIT-DEARBORN-LIVONIA, MI 3 $1,845,000 $615,000
    ST. GEORGE, UT 1 $1,845,000 $1,845,000
    BEND, OR 3 $1,795,000 $598,333
    BIRMINGHAM-HOOVER, AL 2 $1,770,000 $885,000
    ELGIN, IL 2 $1,660,000 $830,000
    EAST STROUDSBURG, PA 2 $1,640,000 $820,000
    BOULDER, CO 2 $1,640,000 $820,000
    MISSOULA, MT 1 $1,575,000 $1,575,000
    KAHULUI-WAILUKU-LAHAINA, HI 2 $1,570,000 $785,000
    MILWAUKEE-WAUKESHA, WI 2 $1,560,000 $780,000
    TALLAHASSEE, FL 1 $1,545,000 $1,545,000
    OKLAHOMA CITY, OK 2 $1,480,000 $740,000
    GLENS FALLS, NY 1 $1,455,000 $1,455,000
    OMAHA-COUNCIL BLUFFS, NE-IA 2 $1,450,000 $725,000
    WILMINGTON, DE-MD-NJ 1 $1,225,000 $1,225,000
    ASHEVILLE, NC 2 $1,190,000 $595,000
    DAPHNE-FAIRHOPE-FOLEY, AL 1 $1,095,000 $1,095,000
    ALBANY-SCHENECTADY-TROY, NY 1 $1,085,000 $1,085,000
    GRAND RAPIDS-KENTWOOD, MI 1 $1,065,000 $1,065,000
    MONTGOMERY, AL 1 $1,005,000 $1,005,000
    SAN LUIS OBISPO-PASO ROBLES, CA 1 $1,005,000 $1,005,000
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR 1 $995,000 $995,000
    OGDEN-CLEARFIELD, UT 1 $965,000 $965,000
    KINGSPORT-BRISTOL, TN-VA 1 $955,000 $955,000
    MEMPHIS, TN-MS-AR 8 $930,000 $116,250
    TRENTON-PRINCETON, NJ 1 $795,000 $795,000
    BURLINGTON-SOUTH BURLINGTON, VT 2 $780,000 $390,000
    BLOOMINGTON, IL 1 $755,000 $755,000
    LEXINGTON-FAYETTE, KY 1 $755,000 $755,000
    BUFFALO-CHEEKTOWAGA, NY 1 $755,000 $755,000
    SPRINGFIELD, MO 1 $755,000 $755,000
    VINELAND-BRIDGETON, NJ 3 $705,000 $235,000
    OCALA, FL 1 $685,000 $685,000
    STATE COLLEGE, PA 1 $675,000 $675,000
    SOUTH BEND-MISHAWAKA, IN-MI 1 $645,000 $645,000
    HOMOSASSA SPRINGS, FL 1 $645,000 $645,000
    HICKORY-LENOIR-MORGANTON, NC 1 $605,000 $605,000
    VALLEJO, CA 1 $495,000 $495,000
    SHERMAN-DENISON, TX 1 $475,000 $475,000
    SALISBURY, MD-DE 1 $455,000 $455,000
    CALIFORNIA-LEXINGTON PARK, MD 1 $425,000 $425,000
    CHAMBERSBURG-WAYNESBORO, PA 1 $375,000 $375,000
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 2 $310,000 $155,000
    SAVANNAH, GA 1 $295,000 $295,000
    COLORADO SPRINGS, CO 1 $285,000 $285,000
    DES MOINES-WEST DES MOINES, IA 2 $270,000 $135,000
    COLLEGE STATION-BRYAN, TX 1 $235,000 $235,000
    LAKELAND-WINTER HAVEN, FL 2 $230,000 $115,000
    BOISE CITY, ID 1 $205,000 $205,000
    WACO, TX 1 $195,000 $195,000
    TACOMA-LAKEWOOD, WA 1 $185,000 $185,000
    MACON-BIBB COUNTY, GA 2 $180,000 $90,000
    GAINESVILLE, FL 2 $170,000 $85,000
    HAGERSTOWN-MARTINSBURG, MD-WV 1 $165,000 $165,000
    SPRINGFIELD, MA 1 $165,000 $165,000
    COLUMBUS, GA-AL 2 $150,000 $75,000
    CHATTANOOGA, TN-GA 2 $150,000 $75,000
    GAINESVILLE, GA 1 $145,000 $145,000
    ROME, GA 2 $140,000 $70,000
    VALDOSTA, GA 1 $125,000 $125,000
    FAYETTEVILLE, NC 1 $125,000 $125,000
    ALBANY, GA 1 $105,000 $105,000
    ATHENS-CLARKE COUNTY, GA 1 $105,000 $105,000
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $105,000 $105,000
    WINSTON-SALEM, NC 1 $95,000 $95,000

    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% 1 $1,605,000 $1,605,000
    2.5-3% 340 $786,500,000 $2,313,235
    3-4% 921 $2,179,525,000 $2,366,477
    4-5% 28 $272,800,000 $9,742,857
    5-6% 91 $152,645,000 $1,677,418
    6-7% 1,174 $465,860,000 $396,814
    7-8% 324 $414,330,000 $1,278,796
    Over 8% 156 $120,790,000 $774,295

    Loan Sizing

    Loan Size Originations Total Value Average Loan
    $100,000 or less 114 $8,820,000 $77,368
    $100k-200k 656 $100,280,000 $152,866
    $200k-400k 484 $133,080,000 $274,959
    $400k-600k 171 $85,045,000 $497,339
    $600k-1000k 478 $379,830,000 $794,623
    $Over $1MM 1,132 $3,687,000,000 $3,257,067

    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% 157 $242,065,000 $1,541,815
    40-60% 365 $1,186,005,000 $3,249,329
    60-80% 1,075 $2,018,055,000 $1,877,260
    80-100% 1,059 $499,815,000 $471,969
    Over 100% 348 $414,720,000 $1,191,724
    Under 20% 31 $33,395,000 $1,077,258

    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 62 $82,530,000 $1,331,129
    $150k-250k 117 $190,445,000 $1,627,735
    $50k-75k 47 $70,465,000 $1,499,255
    $50k-or less 58 $68,050,000 $1,173,276
    $75k-100k 42 $51,300,000 $1,221,429
    $Over $250k 683 $1,342,925,000 $1,966,215

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan
    Not applicable 1,792 $2,193,800,000 $1,224,219
    White 693 $1,126,665,000 $1,625,779
    Not provided 499 $992,155,000 $1,988,287
    Asian 37 $62,995,000 $1,702,568
    Black 14 $18,440,000 $1,317,143

    Approval Rates

    Total approvals of all applications
    94.91%

    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
    85.19%

    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 3,035 $4,394,055,000 $1,447,794

    Origination Fees

    Origination Fee Originations Total Value Average Loan
    $<1k 1,167 $2,103,255,000 $1,802,275
    $5k+ 4 $4,500,000 $1,125,000

    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 82 $1,159,630,000 $14,141,829
    Single Family (1-4 Units):Site-Built 2,953 $3,234,425,000 $1,095,301