Signature Bank Mortgage Rates, Fees & Info

New York, NY

LEI: VLP5AP0XK2GM6GKD1007

Tax ID: 13-4149421

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Signature Bank is a small bank specializing in Refi and Home Purchase loans. Signature Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Bridgeport, Los Angeles, and Miami among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Signature Bank has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Purchase 5.68% 3/25/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Signature Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Signature Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    337

    Origination Dollar Volume (All Markets)

    $1,843,495,000

    Employee count

    1,493

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 333 $1,821,265,000 $5,469,264 $0 4.31%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $17,010,000 $8,505,000 $0 5.38%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $3,505,000 $3,505,000 $0 4.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,715,000 $1,715,000 $0 3.25%
    Signature Bank's top markets include New York, Bridgeport, Los Angeles, and Miami among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 337 $1,843,495,000 $5,470,312 $0 4.31%

    For 2019, Signature Bank's most frequently originated type of loan was Conventional, with 337 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 250 $1,327,280,000 $5,309,120 $0 4.28%
    Home Purchase 61 $425,715,000 $6,978,934 $0 4.29%
    Cash Out Refi 22 $84,980,000 $3,862,727 $0 4.64%
    Home Improvement 4 $5,520,000 $1,380,000 $0 4.84%

    For 2019, Signature Bank's most frequently cited loan purpose was Refi, with 250 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 255 $1,432,625,000 $5,618,137 $0 4.31%
    Other 61 $311,985,000 $5,114,508 $0 4.30%
    5 Year 11 $35,765,000 $3,251,364 $0 4.28%
    3 Year 8 $27,650,000 $3,456,250 $0 4.48%
    15 Year 1 $34,005,000 $34,005,000 $0 4.88%
    1 Year 1 $1,465,000 $1,465,000 $0 3.50%

    For 2019, Signature Bank's most frequently cited loan duration was 10 Year, with 255 originations. The 2nd most popular length was Other, with 61 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 235 $1,227,715,000 $5,224,319
    3-4% 92 $590,840,000 $6,422,174
    5-6% 9 $22,835,000 $2,537,222
    6-7% 1 $2,105,000 $2,105,000

    During 2019, Signature Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 235 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 310 $1,824,700,000 $5,886,129 $0 4.29%
    $600k-1MM 17 $14,055,000 $826,765 $0 4.46%
    $400k-600k 9 $4,425,000 $491,667 $0 4.79%
    $200k-400k 1 $315,000 $315,000 $0 4.50%

    2019 saw Signature Bank place emphasis on $1MM+ loans with 310 originations, totaling $1,824,700,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 337 $1,843,495,000 $5,470,312 $0 4.31%

    Approval Rates

    Total approvals of all applications
    99.41%

    Signature Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 337 $1,843,495,000 $5,470,312

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 305 $1,784,855,000 $5,851,984
    Single Family (1-4 Units):Site-Built 32 $58,640,000 $1,832,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $92,015,000 $3,680,600 $0 4.46%
    40-60% 89 $534,905,000 $6,010,169 $0 4.39%
    60-80% 194 $1,153,470,000 $5,945,722 $0 4.25%
    80-100% 2 $6,480,000 $3,240,000 $0 3.75%
    Over 100% 1 $1,505,000 $1,505,000 $0 4.50%
    Under 20% 26 $55,120,000 $2,120,000 $0 4.40%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Signature Home Lending Inc FHA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Signature Bank 1-C Quaker Ridge Road New Rochelle, NY 10804 Full Service B&M $897,644
    Signature Bank 100 Jericho Quadrangle Jericho, NY 11753 Full Service B&M $621,269
    Signature Bank 1020 Madison Avenue New York, NY 10021 Full Service B&M $650,392
    Signature Bank 118-35 Queens Blvd. Forest Hills, NY 11375 Full Service B&M $223,699
    Signature Bank 1688 Victory Blvd Ste 301 Staten Island, NY 10314 Full Service B&M $47,545
    Signature Bank 200 Park Avenue South New York, NY 10003 Full Service B&M $1,278,642
    Signature Bank 201 Mission Street, Suite 2600 San Francisco, CA 94105 Full Service B&M $259,688
    Signature Bank 2066 Hylan Boulevard Staten Island, NY 10306 Full Service B&M $325,636
    Signature Bank 26 Court Street And Remson Street Brooklyn, NY 11242 Full Service B&M $1,173,871
    Signature Bank 261 Madison Avenue New York, NY 10017 Full Service B&M $8,446,392
    Signature Bank 36-36 33rd Street Long Island City, NY 11106 Full Service B&M $192,279
    Signature Bank 360 Hamilton Avenue, Reckson Metro Center White Plains, NY 10601 Full Service B&M $909,501
    Signature Bank 360 Motor Parkway Hauppauge, NY 11788 Full Service B&M $482,815
    Signature Bank 40 Cuttermill Road Great Neck, NY 11021 Full Service B&M $677,886
    Signature Bank 421 Hunts Point Avenue Bronx, NY 10474 Full Service B&M $219,212
    Signature Bank 485 Madison Avenue New York, NY 10022 Full Service B&M $3,195,475
    Signature Bank 50 West 57th Street New York, NY 10019 Full Service B&M $1,014,889
    Signature Bank 53 North Park Avenue Rockville Centre, NY 11570 Full Service B&M $527,918
    Signature Bank 565 Fifth Avenue New York, NY 10017 Full Service B&M $6,441,478
    Signature Bank 6321 New Urecht Avenue Brooklyn, NY 11219 Full Service B&M $1,384,048
    Signature Bank 68 South Service Road Melville, NY 11747 Full Service B&M $1,582,088
    Signature Bank 71 Broadway And Rector Street New York, NY 10006 Full Service B&M $883,652
    Signature Bank 75 Holly Hill Lane Greenwich, CT 6830 Full Service B&M $761,431
    Signature Bank 78-37 37th Street Jackson Heights, NY 11372 Full Service B&M $555,206
    Signature Bank 84 Broadway Brooklyn, NY 11211 Full Service B&M $571,645
    Signature Bank 89-36 Sutphin Blvd. Jamaica, NY 11435 Full Service B&M $315,515
    Signature Bank 900 Stewart Avenue Garden City, NY 11530 Full Service B&M $898,911
    Signature Bank 9003 Third Avenue Brooklyn, NY 11209 Full Service B&M $458,615
    Signature Bank 923 Broadway Woodmere, NY 11598 Full Service B&M $827,528
    Signature Bank 950 Third Avenue New York, NY 10022 Full Service B&M $869,597
    Signature Bank Two Penn Plaza, 17th Floor New York, NY 10121 Full Service B&M $850,326

    For 2019, Signature Bank had 31 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,932,346
    Net interest income $1,332,144
    Total noninterest income $7,947
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $10,605
    Trading account gains and fees $4,494
    Additional Noninterest Income $-7,152
    Pre-tax net operating income $782,048
    Securities gains (or losses, -) $5,588
    Income before extraordinary items $588,926
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $588,926
    Minority interest net income $0
    Net income $588,926
    Sale, conversion, retirement of capital stock, net $-182,362
    Net operating income $584,511

    Signature Bank's gross interest income from loans was $1,932,346,000.
    Signature Bank's net interest income from loans was $1,332,144,000.
    Signature Bank's fee based income from loans was $10,605,000.
    Signature Bank's net income from loans was $588,926,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $600,202
    Provision for credit losses $22,636
    Total noninterest expense $535,407
    Salaries and employee benefits $340,472
    Premises and equipment expense $66,962
    Additional noninterest expense $127,973
    Applicable income taxes $198,710
    Net charge-offs $2,652
    Cash dividends $122,781

    Signature Bank's interest expense for loans was $600,202,000.
    Signature Bank's payroll and benefits expense were $340,472,000.
    Signature Bank's property, plant and equipment expenses $66,962,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 3.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $40,386,151
    Deposits held in domestic offices $40,386,151
    Deposits by Individuals, partnerships, and corporations $39,468,220
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $913,665
    Deposits by Commercial banks and other depository institutions in U.S. $4,266
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $4,900,611
    Demand deposits $4,626,614
    Nontransaction accounts $35,485,540
    Money market deposit accounts (MMDAs) $18,128,765
    Other savings deposits (excluding MMDAs) $14,987,393
    Total time deposits $2,369,381
    Total time and savings deposits $35,759,537
    Noninterest-bearing deposits $13,031,972
    Interest-bearing deposits $27,354,179
    Retail deposits $38,204,533
    IRAs and Keogh plan accounts $5,225
    Brokered deposits $1,169,678
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $50,621,162
    Cash & Balances due from depository institutions $929,294
    Interest-bearing balances $45,407
    Total securities $9,063,234
    Federal funds sold & reverse repurchase $0
    Net loans and leases $39,150,227
    Loan and leases loss allowance $249,989
    Trading account assets $6,503
    Bank premises and fixed assets $267,845
    Other real estate owned $0
    Goodwill and other intangibles $60
    All other assets $1,203,999

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $50,621,162
    Total Liabilities $45,851,339
    Total deposits $40,386,151
    Interest-bearing deposits $27,354,179
    Deposits held in domestic offices $40,386,151
    % insured (estimated) $18
    Federal funds purchased and repurchase agreements $150,000
    Trading liabilities $0
    Other borrowed funds $4,384,730
    Subordinated debt $456,119
    All other liabilities $474,339

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $39,150,227
    Loan and leases loss allowance $249,989
    Total loans and leases (domestic) $39,400,216
    All real estate loans $28,375,607
    Real estate loans in domestic offices $28,375,607
    Construction and development loans $1,271,553
    Residential 1-4 family construction $2,000
    Other construction, all land development and other land $1,269,553
    Loans secured by nonfarm nonresidential properties $11,399,033
    Nonfarm nonresidential secured by owner-occupied properties $1,201,278
    Commercial real estate & other non-farm, non-residential $10,197,755
    Multifamily residential real estate $15,092,557
    1-4 family residential loans $612,464
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $9,274,409
    To non-U.S. addressees $0
    Loans to individuals $179,042
    Credit card loans $0
    Related Plans $138,191
    Consumer Auto Loans $0
    Other loans to individuals $40,851
    All other loans & leases $1,642,205
    Loans to foreign governments and official institutions $0
    Other loans $113,922
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $57,739
    Loans secured by real estate to non-U.S. addressees $4,866
    Restructured Loans & leases $63,949
    Non 1-4 family restructured loans & leases $59,354
    Total loans and leases (foreign) $0

    Signature Bank had $39,150,227,000 of loans outstanding in 2019. $28,375,607,000 of loans were in real estate loans. $1,271,553,000 of loans were in development loans. $15,092,557,000 of loans were in multifamily mortgage loans. $612,464,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 379 $222,676 $587,536
    Nonfarm, nonresidential loans - $100-250k 23 $4,033 $175,348
    Nonfarm, nonresidential loans - $250k-1MM 356 $218,643 $614,166
    Commercial & Industrial, US addressed loans - <$1MM 15,785 $2,043,770 $129,475
    Commercial & Industrial, US addressed loans - <$100k 7,303 $235,029 $32,183
    Commercial & Industrial, US addressed loans - $100-250k 4,180 $481,429 $115,174
    Commercial & Industrial, US addressed loans - $250k-1MM 4,302 $1,327,312 $308,534