Goldman Sachs Bank Usa

New York, NY 10282

LEI: KD3XUN7C6T14HNAYLU02

Tax ID: 13-3571598

2019 Data | 2018 Data


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