Mufg Union Bank, Na

San Diego, CA 92121

LEI: OX3PU53ZLPQKJ4700D47

Tax ID: 94-0304228

2019 Data *Active* | 2018 Data


Overview

Mufg Union Bank, Na is a large mortgage company specializing in Home Purchase and Refi loans. Mufg Union Bank, Na 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 Los Angeles, Anaheim, Oakland, San Diego, and San Jose 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. Mufg Union Bank, Na is typically a normal medium-low/ fee lendor.


Originations

15,173

Origination Dollar Volume (All Markets)

$10,856,685,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 14,808 $10,734,920,000 $724,941
FHA 238 $70,850,000 $297,689
VA 127 $50,915,000 $400,906

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 4,863 $4,382,995,000 $901,294
Home Improvement 1,612 $285,440,000 $177,072
Other 1,398 $303,890,000 $217,375
Refi 4,524 $4,097,680,000 $905,765
Cash Out Refi 2,776 $1,786,680,000 $643,617

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
LOS ANGELES-LONG BEACH-GLENDALE, CA 3,038 $2,575,460,000 $847,749
ANAHEIM-SANTA ANA-IRVINE, CA 1,617 $1,331,995,000 $823,745
OAKLAND-BERKELEY-LIVERMORE, CA 1,491 $1,073,745,000 $720,151
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 1,733 $1,045,175,000 $603,102
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 954 $920,750,000 $965,147
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 723 $721,125,000 $997,407
SEATTLE-BELLEVUE-KENT, WA 801 $641,335,000 $800,668
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 429 $284,625,000 $663,462
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 974 $282,530,000 $290,072
SAN RAFAEL, CA 303 $244,725,000 $807,673
SANTA MARIA-SANTA BARBARA, CA 385 $219,925,000 $571,234
OXNARD-THOUSAND OAKS-VENTURA, CA 379 $192,945,000 $509,090
SACRAMENTO-ROSEVILLE-FOLSOM, CA 337 $128,855,000 $382,359
PHOENIX-MESA-CHANDLER, AZ 110 $107,480,000 $977,091
SALINAS, CA 194 $99,160,000 $511,134
NEWARK, NJ-PA 1 $96,355,000 $96,355,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 1 $86,005,000 $86,005,000
STOCKTON, CA 222 $84,690,000 $381,486
BRIDGEPORT-STAMFORD-NORWALK, CT 1 $80,005,000 $80,005,000
SANTA CRUZ-WATSONVILLE, CA 115 $65,465,000 $569,261
WORCESTER, MA-CT 1 $63,005,000 $63,005,000
SANTA ROSA-PETALUMA, CA 79 $48,555,000 $614,620
CHICAGO-NAPERVILLE-EVANSTON, IL 55 $44,055,000 $801,000
FRESNO, CA 239 $41,885,000 $175,251
Outside of Metro Areas 117 $39,455,000 $337,222
MILWAUKEE-WAUKESHA, WI 1 $38,005,000 $38,005,000
SAN LUIS OBISPO-PASO ROBLES, CA 73 $36,525,000 $500,342
TACOMA-LAKEWOOD, WA 50 $25,630,000 $512,600
NAPA, CA 35 $22,825,000 $652,143
VALLEJO, CA 48 $19,110,000 $398,125
BREMERTON-SILVERDALE-PORT ORCHARD, WA 34 $17,730,000 $521,471
BAKERSFIELD, CA 118 $17,620,000 $149,322
COLORADO SPRINGS, CO 1 $17,505,000 $17,505,000
RENO, NV 19 $16,665,000 $877,105
MODESTO, CA 71 $16,455,000 $231,761
LAS VEGAS-HENDERSON-PARADISE, NV 49 $13,225,000 $269,898
VISALIA, CA 89 $11,735,000 $131,854
OLYMPIA-LACEY-TUMWATER, WA 10 $9,060,000 $906,000
MADERA, CA 49 $8,005,000 $163,367
COLUMBUS, OH 1 $8,005,000 $8,005,000
BEND, OR 17 $7,495,000 $440,882
REDDING, CA 20 $6,520,000 $326,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 6 $5,310,000 $885,000
SPOKANE-SPOKANE VALLEY, WA 16 $4,420,000 $276,250
SALEM, OR 17 $4,255,000 $250,294
HANFORD-CORCORAN, CA 23 $3,735,000 $162,391
EL CENTRO, CA 30 $3,660,000 $122,000
LAKE HAVASU CITY-KINGMAN, AZ 15 $3,335,000 $222,333
BELLINGHAM, WA 5 $2,445,000 $489,000
MERCED, CA 13 $2,335,000 $179,615
TUCSON, AZ 8 $2,210,000 $276,250
ELGIN, IL 2 $1,980,000 $990,000
YUBA CITY, CA 14 $1,780,000 $127,143
MOUNT VERNON-ANACORTES, WA 7 $1,675,000 $239,286
KENNEWICK-RICHLAND, WA 4 $1,440,000 $360,000
EUGENE-SPRINGFIELD, OR 7 $1,425,000 $203,571
MEDFORD, OR 4 $1,080,000 $270,000
CHICO, CA 4 $1,070,000 $267,500
WENATCHEE, WA 2 $940,000 $470,000
ALBANY-LEBANON, OR 4 $720,000 $180,000
LONGVIEW, WA 2 $580,000 $290,000
CORVALLIS, OR 2 $350,000 $175,000
CARSON CITY, NV 1 $345,000 $345,000
PRESCOTT VALLEY-PRESCOTT, AZ 1 $125,000 $125,000
GRANTS PASS, OR 2 $50,000 $25,000

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% 1,041 $339,175,000 $325,817
2.5-3% 437 $648,925,000 $1,484,954
3-4% 7,689 $7,128,875,000 $927,152
4-5% 3,468 $2,318,680,000 $668,593
5-6% 828 $235,480,000 $284,396
6-7% 1,152 $145,640,000 $126,424
7-8% 295 $30,185,000 $102,322
Over 8% 263 $9,725,000 $36,977

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,535 $96,005,000 $62,544
$100k-200k 2,638 $356,010,000 $134,955
$200k-400k 2,836 $811,840,000 $286,262
$400k-600k 2,196 $1,100,740,000 $501,248
$600k-1000k 3,263 $2,540,585,000 $778,604
$Over $1MM 2,705 $5,951,505,000 $2,200,187

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% 1,999 $943,825,000 $472,149
40-60% 2,395 $2,485,005,000 $1,037,580
60-80% 5,149 $5,328,435,000 $1,034,849
80-100% 2,270 $1,599,210,000 $704,498
Over 100% 20 $8,110,000 $405,500
Under 20% 3,340 $492,100,000 $147,335

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 2,312 $831,980,000 $359,853
$150k-250k 3,915 $2,082,255,000 $531,866
$50k-75k 1,220 $250,800,000 $205,574
$50k-or less 776 $120,430,000 $155,193
$75k-100k 1,221 $312,415,000 $255,868
$Over $250k 5,099 $5,079,145,000 $996,106

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 9,842 $5,961,170,000 $605,687
Not applicable 231 $1,962,655,000 $8,496,342
Asian 2,259 $1,360,505,000 $602,260
Not provided 2,382 $1,352,650,000 $567,863
Black 240 $92,100,000 $383,750
Asian Indian 61 $62,515,000 $1,024,836
American Indian 65 $18,325,000 $281,923
Native Hawaiian 50 $15,520,000 $310,400
Chinese 13 $14,135,000 $1,087,308
Other Asian 10 $4,420,000 $442,000
Korean 4 $3,790,000 $947,500
Filipino 5 $3,265,000 $653,000
Other Pacific Islander 5 $2,415,000 $483,000
Japanese 4 $2,070,000 $517,500
Vietnamese 1 $645,000 $645,000
Native Hawiian 1 $505,000 $505,000

Approval Rates

Total approvals of all applications
78.17%

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
78.99%

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 15,173 $10,856,685,000 $715,527

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,675 $3,071,775,000 $835,857
$1k-2k 4,760 $3,680,030,000 $773,116
$2k-3k 531 $232,685,000 $438,202
$3k-4k 445 $252,825,000 $568,146
$5k+ 443 $409,445,000 $924,255

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 4 $17,640,000 $4,410,000
Multifamily:Site-Built 253 $2,012,325,000 $7,953,854
Single Family (1-4 Units):Manufactured 16 $3,220,000 $201,250
Single Family (1-4 Units):Site-Built 14,900 $8,823,500,000 $592,181