Pennymac Loan Services Llc

WESTLAKE VILLAGE, CA 91361

LEI: RVDPPPGHCGZ40J4VQ731

Tax ID: 26-2049351

2019 Data *Active* | 2018 Data


Overview

Pennymac Loan Services Llc is a large mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Pennymac Loan Services Llc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Washington, Los Angeles, Atlanta, Riverside, and San Diego 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. Pennymac Loan Services Llc is typically a high/ exceptionally high/ fee lendor.


Originations

48,541

Origination Dollar Volume (All Markets)

$13,795,555,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 22,981 $6,373,945,000 $277,357
FHA 8,333 $1,996,225,000 $239,557
VA 17,136 $5,407,320,000 $315,553
USDA 91 $18,065,000 $198,516

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 10,542 $2,895,950,000 $274,706
Other 145 $33,565,000 $231,483
Refi 24,977 $7,440,995,000 $297,914
Cash Out Refi 12,877 $3,425,045,000 $265,982

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
Outside of Metro Areas 3,052 $683,420,000 $223,925
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 1,607 $630,385,000 $392,274
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,183 $524,145,000 $443,064
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 2,074 $521,870,000 $251,625
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,407 $441,175,000 $313,557
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 893 $412,485,000 $461,909
PHOENIX-MESA-CHANDLER, AZ 1,497 $384,455,000 $256,817
SEATTLE-BELLEVUE-KENT, WA 942 $384,220,000 $407,877
LAS VEGAS-HENDERSON-PARADISE, NV 1,004 $288,330,000 $287,181
DENVER-AURORA-LAKEWOOD, CO 833 $287,105,000 $344,664
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 839 $271,315,000 $323,379
DALLAS-PLANO-IRVING, TX 986 $267,610,000 $271,410
SACRAMENTO-ROSEVILLE-FOLSOM, CA 748 $256,880,000 $343,422
BALTIMORE-COLUMBIA-TOWSON, MD 692 $229,980,000 $332,341
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 882 $229,520,000 $260,227
OAKLAND-BERKELEY-LIVERMORE, CA 465 $217,345,000 $467,409
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 892 $210,970,000 $236,513
TAMPA-ST. PETERSBURG-CLEARWATER, FL 815 $197,555,000 $242,399
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 676 $178,400,000 $263,905
TACOMA-LAKEWOOD, WA 520 $178,320,000 $342,923
ANAHEIM-SANTA ANA-IRVINE, CA 368 $174,830,000 $475,082
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 557 $167,285,000 $300,332
ORLANDO-KISSIMMEE-SANFORD, FL 615 $158,065,000 $257,016
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 377 $137,775,000 $365,451
AUSTIN-ROUND ROCK-GEORGETOWN, TX 477 $135,175,000 $283,386
CHARLOTTE-CONCORD-GASTONIA, NC-SC 548 $133,260,000 $243,175
NEW BRUNSWICK-LAKEWOOD, NJ 408 $129,710,000 $317,917
SALT LAKE CITY, UT 404 $120,770,000 $298,936
SAN ANTONIO-NEW BRAUNFELS, TX 455 $119,505,000 $262,648
CHICAGO-NAPERVILLE-EVANSTON, IL 503 $116,545,000 $231,700
COLORADO SPRINGS, CO 357 $111,175,000 $311,415
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 381 $107,065,000 $281,010
FORT WORTH-ARLINGTON-GRAPEVINE, TX 439 $103,615,000 $236,025
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 364 $100,290,000 $275,522
OGDEN-CLEARFIELD, UT 349 $94,885,000 $271,877
JACKSONVILLE, FL 361 $94,435,000 $261,593
RICHMOND, VA 332 $93,380,000 $281,265
OXNARD-THOUSAND OAKS-VENTURA, CA 201 $91,525,000 $455,348
RALEIGH-CARY, NC 337 $89,655,000 $266,039
MIAMI-MIAMI BEACH-KENDALL, FL 306 $84,670,000 $276,699
VALLEJO, CA 218 $83,830,000 $384,541
BOSTON, MA 215 $81,235,000 $377,837
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 148 $77,330,000 $522,500
NEWARK, NJ-PA 238 $76,810,000 $322,731
URBAN HONOLULU, HI 134 $72,920,000 $544,179
NORTH PORT-SARASOTA-BRADENTON, FL 273 $71,215,000 $260,861
PROVIDENCE-WARWICK, RI-MA 250 $69,210,000 $276,840
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 239 $66,245,000 $277,176
RENO, NV 207 $65,965,000 $318,671
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 178 $65,170,000 $366,124
WARREN-TROY-FARMINGTON HILLS, MI 285 $61,415,000 $215,491
BOISE CITY, ID 224 $60,280,000 $269,107
CAPE CORAL-FORT MYERS, FL 262 $59,650,000 $227,672
SPRINGFIELD, MO 337 $59,255,000 $175,831
FRESNO, CA 224 $58,940,000 $263,125
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 164 $58,380,000 $355,976
STOCKTON, CA 171 $57,035,000 $333,538
TUCSON, AZ 229 $54,405,000 $237,576
ST. LOUIS, MO-IL 266 $53,690,000 $201,842
BREMERTON-SILVERDALE-PORT ORCHARD, WA 156 $52,280,000 $335,128
OKLAHOMA CITY, OK 255 $50,815,000 $199,275
PROVO-OREM, UT 176 $50,150,000 $284,943
OLYMPIA-LACEY-TUMWATER, WA 154 $49,300,000 $320,130
BAKERSFIELD, CA 196 $48,730,000 $248,622
PHILADELPHIA, PA 199 $47,385,000 $238,116
CHARLESTON-NORTH CHARLESTON, SC 178 $46,750,000 $262,640
COLUMBUS, OH 222 $46,320,000 $208,649
LAKELAND-WINTER HAVEN, FL 207 $42,235,000 $204,034
CAMDEN, NJ 178 $40,930,000 $229,944
PALM BAY-MELBOURNE-TITUSVILLE, FL 155 $40,265,000 $259,774
KANSAS CITY, MO-KS 192 $40,140,000 $209,063
SPOKANE-SPOKANE VALLEY, WA 150 $37,970,000 $253,133
SANTA ROSA-PETALUMA, CA 82 $37,810,000 $461,098
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 68 $37,590,000 $552,794
MODESTO, CA 137 $37,535,000 $273,978
INDIANAPOLIS-CARMEL-ANDERSON, IN 192 $36,160,000 $188,333
KNOXVILLE, TN 162 $35,790,000 $220,926
PITTSBURGH, PA 166 $35,460,000 $213,614
BEND, OR 113 $35,395,000 $313,230
PENSACOLA-FERRY PASS-BRENT, FL 146 $34,890,000 $238,973
GREELEY, CO 113 $34,475,000 $305,088
ST. GEORGE, UT 125 $33,795,000 $270,360
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 118 $33,540,000 $284,237
CINCINNATI, OH-KY-IN 156 $33,390,000 $214,038
MEMPHIS, TN-MS-AR 142 $33,110,000 $233,169
SALEM, OR 115 $32,285,000 $280,739
WILMINGTON, DE-MD-NJ 118 $31,750,000 $269,068
GREENVILLE-ANDERSON, SC 135 $30,425,000 $225,370
NEW ORLEANS-METAIRIE, LA 131 $30,185,000 $230,420
ALBUQUERQUE, NM 119 $29,445,000 $247,437
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 139 $29,435,000 $211,763
NAPLES-MARCO ISLAND, FL 91 $28,345,000 $311,484
SAVANNAH, GA 115 $28,125,000 $244,565
ASHEVILLE, NC 111 $28,005,000 $252,297
SALINAS, CA 65 $27,495,000 $423,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 126 $27,220,000 $216,032
CLARKSVILLE, TN-KY 118 $27,040,000 $229,153
PORT ST. LUCIE, FL 108 $26,430,000 $244,722
SAN LUIS OBISPO-PASO ROBLES, CA 63 $26,275,000 $417,063
CLEVELAND-ELYRIA, OH 121 $26,005,000 $214,917
OMAHA-COUNCIL BLUFFS, NE-IA 140 $25,990,000 $185,643
PRESCOTT VALLEY-PRESCOTT, AZ 100 $25,700,000 $257,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 112 $25,520,000 $227,857
VISALIA, CA 106 $24,520,000 $231,321
FORT COLLINS, CO 77 $24,405,000 $316,948
LAKE COUNTY-KENOSHA COUNTY, IL-WI 103 $24,175,000 $234,709
BIRMINGHAM-HOOVER, AL 111 $23,965,000 $215,901
DURHAM-CHAPEL HILL, NC 90 $23,760,000 $264,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 107 $23,715,000 $221,636
PUNTA GORDA, FL 115 $23,275,000 $202,391
WORCESTER, MA-CT 84 $22,860,000 $272,143
EUGENE-SPRINGFIELD, OR 84 $22,800,000 $271,429
AUGUSTA-RICHMOND COUNTY, GA-SC 97 $22,675,000 $233,763
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 79 $22,575,000 $285,759
FAYETTEVILLE, NC 112 $21,580,000 $192,679
COLUMBIA, SC 99 $21,255,000 $214,697
TULSA, OK 107 $20,675,000 $193,224
SANTA MARIA-SANTA BARBARA, CA 53 $20,445,000 $385,755
MEDFORD, OR 71 $19,015,000 $267,817
KENNEWICK-RICHLAND, WA 74 $18,950,000 $256,081
CHATTANOOGA, TN-GA 88 $18,070,000 $205,341
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 87 $18,045,000 $207,414
ELGIN, IL 82 $17,960,000 $219,024
HUNTSVILLE, AL 83 $17,885,000 $215,482
LAFAYETTE, LA 78 $17,770,000 $227,821
DETROIT-DEARBORN-LIVONIA, MI 102 $17,620,000 $172,745
MANCHESTER-NASHUA, NH 65 $17,345,000 $266,846
COEUR D'ALENE, ID 62 $17,220,000 $277,742
BATON ROUGE, LA 73 $17,155,000 $235,000
YUBA CITY, CA 63 $16,315,000 $258,968
BOULDER, CO 41 $16,275,000 $396,951
DAYTON-KETTERING, OH 75 $16,135,000 $215,133
KILLEEN-TEMPLE, TX 75 $16,075,000 $214,333
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 69 $15,975,000 $231,522
GREENSBORO-HIGH POINT, NC 73 $15,385,000 $210,753
CHICO, CA 59 $15,325,000 $259,746
ST. CLOUD, MN 68 $15,220,000 $223,824
REDDING, CA 62 $15,110,000 $243,710
MILWAUKEE-WAUKESHA, WI 69 $15,105,000 $218,913
COLLEGE STATION-BRYAN, TX 62 $14,910,000 $240,484
LAKE HAVASU CITY-KINGMAN, AZ 66 $14,790,000 $224,091
BRUNSWICK, GA 70 $14,720,000 $210,286
ALBANY-LEBANON, OR 59 $14,355,000 $243,305
PORTLAND-SOUTH PORTLAND, ME 52 $14,280,000 $274,615
GAINESVILLE, GA 58 $14,140,000 $243,793
JACKSONVILLE, NC 71 $13,815,000 $194,577
DAPHNE-FAIRHOPE-FOLEY, AL 60 $13,680,000 $228,000
MOUNT VERNON-ANACORTES, WA 44 $13,630,000 $309,773
SANTA CRUZ-WATSONVILLE, CA 26 $13,160,000 $506,154
CHARLOTTESVILLE, VA 44 $13,080,000 $297,273
SALISBURY, MD-DE 51 $12,725,000 $249,510
LONGVIEW, WA 45 $12,065,000 $268,111
WICHITA, KS 65 $12,005,000 $184,692
WARNER ROBINS, GA 54 $11,850,000 $219,444
COLUMBUS, GA-AL 54 $11,710,000 $216,852
MERCED, CA 46 $11,590,000 $251,957
GARY, IN 53 $11,435,000 $215,755
OCALA, FL 59 $11,345,000 $192,288
BRIDGEPORT-STAMFORD-NORWALK, CT 32 $11,340,000 $354,375
LAKE CHARLES, LA 49 $11,275,000 $230,102
WILMINGTON, NC 45 $11,225,000 $249,444
NEW HAVEN-MILFORD, CT 52 $11,140,000 $214,231
NAPA, CA 24 $11,040,000 $460,000
BELLINGHAM, WA 36 $10,730,000 $298,056
HAGERSTOWN-MARTINSBURG, MD-WV 47 $10,725,000 $228,191
WINSTON-SALEM, NC 55 $10,525,000 $191,364
HILTON HEAD ISLAND-BLUFFTON, SC 37 $10,325,000 $279,054
PANAMA CITY, FL 37 $9,665,000 $261,216
CALIFORNIA-LEXINGTON PARK, MD 31 $9,655,000 $311,452
AUBURN-OPELIKA, AL 43 $9,615,000 $223,605
SPARTANBURG, SC 50 $9,610,000 $192,200
ANCHORAGE, AK 30 $9,590,000 $319,667
HANFORD-CORCORAN, CA 40 $9,550,000 $238,750
MONTGOMERY, AL 43 $9,525,000 $221,512
BARNSTABLE TOWN, MA 29 $9,485,000 $327,069
KAHULUI-WAILUKU-LAHAINA, HI 21 $9,405,000 $447,857
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 45 $9,345,000 $207,667
SAN RAFAEL, CA 17 $9,345,000 $549,706
WINCHESTER, VA-WV 30 $9,100,000 $303,333
MADERA, CA 32 $8,980,000 $280,625
YAKIMA, WA 37 $8,935,000 $241,486
GRAND JUNCTION, CO 31 $8,875,000 $286,290
DOVER, DE 33 $8,775,000 $265,909
SPRINGFIELD, MA 41 $8,545,000 $208,415
ROANOKE, VA 37 $8,045,000 $217,432
GULFPORT-BILOXI, MS 40 $7,870,000 $196,750
SCRANTON--WILKES-BARRE, PA 50 $7,820,000 $156,400
EL PASO, TX 43 $7,715,000 $179,419
WENATCHEE, WA 26 $7,700,000 $296,154
DES MOINES-WEST DES MOINES, IA 39 $7,475,000 $191,667
LANCASTER, PA 34 $7,470,000 $219,706
YORK-HANOVER, PA 35 $7,455,000 $213,000
HARRISBURG-CARLISLE, PA 33 $7,435,000 $225,303
CARSON CITY, NV 25 $7,435,000 $297,400
GAINESVILLE, FL 35 $7,405,000 $211,571
HINESVILLE, GA 37 $7,375,000 $199,324
HICKORY-LENOIR-MORGANTON, NC 35 $7,345,000 $209,857
SEBASTIAN-VERO BEACH, FL 33 $7,315,000 $221,667
PUEBLO, CO 37 $7,285,000 $196,892
CORVALLIS, OR 26 $7,240,000 $278,462
SANTA FE, NM 25 $7,105,000 $284,200
GRAND RAPIDS-KENTWOOD, MI 41 $6,955,000 $169,634
SHREVEPORT-BOSSIER CITY, LA 32 $6,710,000 $209,688
MCALLEN-EDINBURG-MISSION, TX 38 $6,600,000 $173,684
TALLAHASSEE, FL 25 $6,555,000 $262,200
WACO, TX 32 $6,460,000 $201,875
AKRON, OH 33 $6,415,000 $194,394
GREEN BAY, WI 32 $6,230,000 $194,688
READING, PA 33 $6,185,000 $187,424
FLAGSTAFF, AZ 21 $6,145,000 $292,619
MIDLAND, TX 23 $6,075,000 $264,130
ANN ARBOR, MI 25 $5,945,000 $237,800
THE VILLAGES, FL 24 $5,910,000 $246,250
LEXINGTON-FAYETTE, KY 24 $5,820,000 $242,500
CORPUS CHRISTI, TX 28 $5,800,000 $207,143
YUMA, AZ 27 $5,785,000 $214,259
FLINT, MI 34 $5,590,000 $164,412
LYNCHBURG, VA 27 $5,565,000 $206,111
JACKSON, MS 26 $5,560,000 $213,846
HOMOSASSA SPRINGS, FL 30 $5,530,000 $184,333
GRANTS PASS, OR 19 $5,425,000 $285,526
APPLETON, WI 28 $5,370,000 $191,786
JOPLIN, MO 30 $5,330,000 $177,667
ATHENS-CLARKE COUNTY, GA 24 $5,040,000 $210,000
ROCHESTER, MN 22 $5,010,000 $227,727
MADISON, WI 18 $4,830,000 $268,333
TRENTON-PRINCETON, NJ 20 $4,740,000 $237,000
ATLANTIC CITY-HAMMONTON, NJ 19 $4,625,000 $243,421
SIOUX FALLS, SD 20 $4,590,000 $229,500
MACON-BIBB COUNTY, GA 20 $4,530,000 $226,500
ODESSA, TX 20 $4,480,000 $224,000
OCEAN CITY, NJ 16 $4,470,000 $279,375
RAPID CITY, SD 19 $4,465,000 $235,000
LINCOLN, NE 24 $4,400,000 $183,333
DULUTH, MN-WI 26 $4,360,000 $167,692
BILLINGS, MT 17 $4,345,000 $255,588
TOLEDO, OH 21 $4,335,000 $206,429
NORWICH-NEW LONDON, CT 20 $4,330,000 $216,500
AMARILLO, TX 23 $4,275,000 $185,870
IDAHO FALLS, ID 17 $4,235,000 $249,118
SIERRA VISTA-DOUGLAS, AZ 18 $4,180,000 $232,222
JACKSON, TN 25 $4,175,000 $167,000
MOBILE, AL 26 $4,110,000 $158,077
LAS CRUCES, NM 19 $4,075,000 $214,474
CANTON-MASSILLON, OH 21 $4,065,000 $193,571
JOHNSON CITY, TN 18 $4,040,000 $224,444
EL CENTRO, CA 17 $3,975,000 $233,824
KINGSPORT-BRISTOL, TN-VA 20 $3,880,000 $194,000
LUBBOCK, TX 21 $3,875,000 $184,524
STAUNTON, VA 17 $3,855,000 $226,765
SHERMAN-DENISON, TX 21 $3,795,000 $180,714
EAST STROUDSBURG, PA 20 $3,760,000 $188,000
DOTHAN, AL 17 $3,695,000 $217,353
FLORENCE, SC 21 $3,635,000 $173,095
LOGAN, UT-ID 15 $3,595,000 $239,667
LANSING-EAST LANSING, MI 20 $3,520,000 $176,000
CHEYENNE, WY 15 $3,505,000 $233,667
BURLINGTON, NC 16 $3,490,000 $218,125
DECATUR, AL 16 $3,450,000 $215,625
LEBANON, PA 15 $3,405,000 $227,000
JEFFERSON CITY, MO 16 $3,400,000 $212,500
BEAUMONT-PORT ARTHUR, TX 16 $3,300,000 $206,250
BROWNSVILLE-HARLINGEN, TX 18 $3,280,000 $182,222
FORT WAYNE, IN 20 $3,250,000 $162,500
BURLINGTON-SOUTH BURLINGTON, VT 10 $3,220,000 $322,000
TYLER, TX 14 $3,200,000 $228,571
MORRISTOWN, TN 15 $3,135,000 $209,000
SAN ANGELO, TX 13 $3,115,000 $239,615
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 18 $3,090,000 $171,667
GREENVILLE, NC 16 $3,060,000 $191,250
WALLA WALLA, WA 13 $3,035,000 $233,462
CHAMBERSBURG-WAYNESBORO, PA 14 $3,020,000 $215,714
TWIN FALLS, ID 15 $3,015,000 $201,000
VALDOSTA, GA 17 $2,975,000 $175,000
NEW BERN, NC 15 $2,965,000 $197,667
PEORIA, IL 18 $2,960,000 $164,444
HOUMA-THIBODAUX, LA 14 $2,920,000 $208,571
ELIZABETHTOWN-FORT KNOX, KY 16 $2,880,000 $180,000
TOPEKA, KS 13 $2,785,000 $214,231
SUMTER, SC 13 $2,775,000 $213,462
RACINE, WI 15 $2,635,000 $175,667
LEWISTON, ID-WA 10 $2,620,000 $262,000
GOLDSBORO, NC 13 $2,585,000 $198,846
SPRINGFIELD, IL 10 $2,550,000 $255,000
TUSCALOOSA, AL 15 $2,545,000 $169,667
CASPER, WY 12 $2,540,000 $211,667
ROCKFORD, IL 13 $2,445,000 $188,077
FARGO, ND-MN 10 $2,390,000 $239,000
LEWISTON-AUBURN, ME 12 $2,380,000 $198,333
ROCKY MOUNT, NC 11 $2,345,000 $213,182
HATTIESBURG, MS 12 $2,280,000 $190,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 11 $2,215,000 $201,364
BOWLING GREEN, KY 9 $2,205,000 $245,000
EAU CLAIRE, WI 12 $2,190,000 $182,500
LAREDO, TX 10 $2,170,000 $217,000
GETTYSBURG, PA 9 $2,165,000 $240,556
ABILENE, TX 10 $2,150,000 $215,000
FLORENCE-MUSCLE SHOALS, AL 11 $2,145,000 $195,000
SHEBOYGAN, WI 12 $2,130,000 $177,500
GADSDEN, AL 11 $2,115,000 $192,273
HARRISONBURG, VA 8 $2,070,000 $258,750
LONGVIEW, TX 11 $2,025,000 $184,091
POCATELLO, ID 6 $2,010,000 $335,000
MORGANTOWN, WV 7 $2,005,000 $286,429
LAFAYETTE-WEST LAFAYETTE, IN 13 $1,995,000 $153,462
MONROE, MI 10 $1,990,000 $199,000
FORT SMITH, AR-OK 13 $1,965,000 $151,154
CLEVELAND, TN 12 $1,870,000 $155,833
ERIE, PA 8 $1,860,000 $232,500
SOUTH BEND-MISHAWAKA, IN-MI 11 $1,855,000 $168,636
ANNISTON-OXFORD, AL 9 $1,855,000 $206,111
LAWTON, OK 9 $1,845,000 $205,000
ALEXANDRIA, LA 8 $1,810,000 $226,250
ALBANY, GA 9 $1,785,000 $198,333
MANKATO, MN 11 $1,785,000 $162,273
NILES, MI 8 $1,780,000 $222,500
LAWRENCE, KS 9 $1,775,000 $197,222
MONROE, LA 8 $1,770,000 $221,250
BISMARCK, ND 6 $1,760,000 $293,333
KALAMAZOO-PORTAGE, MI 7 $1,745,000 $249,286
COLUMBIA, MO 10 $1,730,000 $173,000
DALTON, GA 11 $1,715,000 $155,909
SEBRING-AVON PARK, FL 11 $1,655,000 $150,455
ELKHART-GOSHEN, IN 10 $1,640,000 $164,000
TEXARKANA, TX-AR 8 $1,630,000 $203,750
JANESVILLE-BELOIT, WI 9 $1,615,000 $179,444
EVANSVILLE, IN-KY 9 $1,575,000 $175,000
BANGOR, ME 8 $1,550,000 $193,750
CHAMPAIGN-URBANA, IL 9 $1,515,000 $168,333
TERRE HAUTE, IN 10 $1,490,000 $149,000
STATE COLLEGE, PA 6 $1,480,000 $246,667
MUSKEGON, MI 8 $1,460,000 $182,500
GRAND FORKS, ND-MN 5 $1,405,000 $281,000
MANHATTAN, KS 7 $1,405,000 $200,714
GREAT FALLS, MT 6 $1,400,000 $233,333
WICHITA FALLS, TX 6 $1,400,000 $233,333
HAMMOND, LA 7 $1,385,000 $197,857
IOWA CITY, IA 6 $1,370,000 $228,333
KANKAKEE, IL 8 $1,330,000 $166,250
HUNTINGTON-ASHLAND, WV-KY-OH 8 $1,330,000 $166,250
MICHIGAN CITY-LA PORTE, IN 6 $1,300,000 $216,667
VINELAND-BRIDGETON, NJ 6 $1,230,000 $205,000
CEDAR RAPIDS, IA 6 $1,200,000 $200,000
OSHKOSH-NEENAH, WI 7 $1,155,000 $165,000
JACKSON, MI 7 $1,135,000 $162,143
BATTLE CREEK, MI 7 $1,115,000 $159,286
PITTSFIELD, MA 5 $1,105,000 $221,000
JONESBORO, AR 6 $1,080,000 $180,000
PINE BLUFF, AR 5 $1,035,000 $207,000
VICTORIA, TX 6 $1,020,000 $170,000
MUNCIE, IN 6 $1,010,000 $168,333
BLOOMINGTON, IN 7 $995,000 $142,143
FAIRBANKS, AK 4 $990,000 $247,500
AMES, IA 5 $975,000 $195,000
WILLIAMSPORT, PA 3 $975,000 $325,000
CAPE GIRARDEAU, MO-IL 6 $950,000 $158,333
HOT SPRINGS, AR 5 $945,000 $189,000
BLACKSBURG-CHRISTIANSBURG, VA 4 $890,000 $222,500
CUMBERLAND, MD-WV 7 $885,000 $126,429
WAUSAU-WESTON, WI 4 $880,000 $220,000
OWENSBORO, KY 5 $815,000 $163,000
BLOOMINGTON, IL 5 $815,000 $163,000
ROME, GA 5 $805,000 $161,000
DECATUR, IL 7 $695,000 $99,286
ST. JOSEPH, MO-KS 3 $675,000 $225,000
DUBUQUE, IA 3 $655,000 $218,333
MISSOULA, MT 2 $640,000 $320,000
CHARLESTON, WV 2 $640,000 $320,000
JOHNSTOWN, PA 4 $620,000 $155,000
CARBONDALE-MARION, IL 3 $605,000 $201,667
GRAND ISLAND, NE 4 $580,000 $145,000
FARMINGTON, NM 3 $565,000 $188,333
ALTOONA, PA 3 $535,000 $178,333
WHEELING, WV-OH 2 $500,000 $250,000
BAY CITY, MI 2 $470,000 $235,000
SAGINAW, MI 3 $445,000 $148,333
BLOOMSBURG-BERWICK, PA 2 $440,000 $220,000
LA CROSSE-ONALASKA, WI-MN 3 $415,000 $138,333
COLUMBUS, IN 3 $405,000 $135,000
MIDLAND, MI 3 $395,000 $131,667
KOKOMO, IN 2 $380,000 $190,000
SPRINGFIELD, OH 3 $365,000 $121,667
MANSFIELD, OH 2 $290,000 $145,000
FOND DU LAC, WI 2 $270,000 $135,000
DANVILLE, IL 2 $260,000 $130,000
WEIRTON-STEUBENVILLE, WV-OH 2 $260,000 $130,000
LIMA, OH 2 $230,000 $115,000
PARKERSBURG-VIENNA, WV 1 $185,000 $185,000
SIOUX CITY, IA-NE-SD 1 $115,000 $115,000

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
2.5-3% 2,354 $791,910,000 $336,410
3-4% 26,779 $8,119,465,000 $303,203
4-5% 17,797 $4,534,255,000 $254,776
5-6% 1,527 $325,885,000 $213,415
6-7% 10 $2,040,000 $204,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,117 $89,475,000 $80,103
$100k-200k 12,830 $2,047,060,000 $159,553
$200k-400k 26,336 $7,491,540,000 $284,460
$400k-600k 6,971 $3,257,285,000 $467,262
$600k-1000k 1,251 $864,875,000 $691,347
$Over $1MM 36 $45,320,000 $1,258,889

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% 680 $145,220,000 $213,559
40-60% 3,145 $820,325,000 $260,835
60-80% 14,754 $4,076,760,000 $276,316
80-100% 27,896 $8,070,800,000 $289,317
Over 100% 1,993 $669,615,000 $335,983
Under 20% 71 $12,245,000 $172,465

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 8,599 $2,715,455,000 $315,787
$150k-250k 4,806 $1,792,570,000 $372,986
$50k-75k 7,313 $1,575,545,000 $215,444
$50k-or less 3,557 $559,325,000 $157,246
$75k-100k 6,742 $1,791,560,000 $265,731
$Over $250k 1,252 $499,710,000 $399,129

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 33,326 $9,259,030,000 $277,832
Not provided 5,914 $1,810,170,000 $306,082
Black 5,185 $1,441,445,000 $278,003
Asian 3,165 $1,003,575,000 $317,085
American Indian 652 $181,450,000 $278,298
Native Hawaiian 230 $78,960,000 $343,304
Asian Indian 19 $4,865,000 $256,053
10 $3,440,000 $344,000
Japanese 6 $2,390,000 $398,333
Filipino 6 $2,310,000 $385,000
Chinese 7 $1,855,000 $265,000
Other Pacific Islander 7 $1,775,000 $253,571
Korean 4 $1,230,000 $307,500
Other Asian 3 $1,005,000 $335,000
Guamanian 3 $825,000 $275,000
Native Hawiian 2 $680,000 $340,000
Samoan 1 $315,000 $315,000
Vietnamese 1 $235,000 $235,000

Approval Rates

Total approvals of all applications
90.38%

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
64.23%

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 48,541 $13,795,555,000 $284,204

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 7,273 $2,082,685,000 $286,358
$1k-2k 9,649 $2,573,305,000 $266,691
$2k-3k 5,690 $1,359,710,000 $238,965
$3k-4k 12,025 $3,180,445,000 $264,486
$5k+ 11,279 $3,969,515,000 $351,939

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
Single Family (1-4 Units):Manufactured 22 $5,020,000 $228,182
Single Family (1-4 Units):Site-Built 48,519 $13,790,535,000 $284,230