New York Community Bank

Hicksville, NY 11801

LEI: QODK9N71Q3XVQS2JKH91

Tax ID: 11-1212640

2019 Data | 2018 Data


Overview

New York Community Bank is a mid-sized mortgage company specializing in Home Purchase and Refi loans. New York Community Bank has a high proportion of conventional loans. Their top markets include New York, Newark, Camden, Cleveland, and Fort Lauderdale among others. They have an above average approval rate for mortages when compared nationally -- and they have an average pick rate when compared to the same sample of other lendors. New York Community Bank is typically a lendor.


Originations

769

Origination Dollar Volume (All Markets)

$5,755,145,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 769 $5,755,145,000 $7,483,934

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 120 $1,585,270,000 $13,210,583
Home Improvement 9 $25,085,000 $2,787,222
Refi 640 $4,144,790,000 $6,476,234

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 596 $3,929,220,000 $6,592,651
NEWARK, NJ-PA 46 $331,120,000 $7,198,261
CAMDEN, NJ 12 $214,160,000 $17,846,667
CLEVELAND-ELYRIA, OH 15 $213,985,000 $14,265,667
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 5 $164,455,000 $32,891,000
PHILADELPHIA, PA 18 $161,290,000 $8,960,556
PHOENIX-MESA-CHANDLER, AZ 15 $141,235,000 $9,415,667
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 1 $135,755,000 $135,755,000
NEW BRUNSWICK-LAKEWOOD, NJ 16 $116,170,000 $7,260,625
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 10 $115,440,000 $11,544,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 1 $72,005,000 $72,005,000
NASSAU COUNTY-SUFFOLK COUNTY, NY 21 $54,715,000 $2,605,476
AKRON, OH 2 $30,910,000 $15,455,000
TRENTON-PRINCETON, NJ 3 $29,215,000 $9,738,333
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 3 $14,855,000 $4,951,667
OCALA, FL 1 $13,495,000 $13,495,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $8,505,000 $8,505,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 1 $4,705,000 $4,705,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $2,905,000 $2,905,000
LEBANON, PA 1 $1,005,000 $1,005,000

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
3-4% 545 $4,567,565,000 $8,380,853
4-5% 223 $1,186,575,000 $5,320,964
6-7% 1 $1,005,000 $1,005,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$200k-400k 9 $2,915,000 $323,889
$400k-600k 7 $3,665,000 $523,571
$600k-1000k 35 $28,855,000 $824,429
$Over $1MM 718 $5,719,710,000 $7,966,170

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% 71 $255,195,000 $3,594,296
40-60% 267 $1,853,175,000 $6,940,730
60-80% 336 $3,392,560,000 $10,096,905
80-100% 2 $25,590,000 $12,795,000
Under 20% 93 $228,625,000 $2,458,333

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

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
Not applicable 766 $5,738,430,000 $7,491,423
White 2 $14,380,000 $7,190,000
Not provided 1 $2,335,000 $2,335,000

Approval Rates

Total approvals of all applications
94.59%

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
92.23%

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 769 $5,755,145,000 $7,483,934

Origination Fees

Origination Fee Originations Total Value Average Loan

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 764 $5,750,180,000 $7,526,414
Single Family (1-4 Units):Site-Built 5 $4,965,000 $993,000