M&t Bank

Buffalo, NY 14210-1351

LEI: WWB2V0FCW3A0EE3ZJN75

Tax ID: 16-0538020

2019 Data | 2018 Data


Overview

M&t Bank is a mid-sized mortgage company specializing in Home Purchase and Refi loans. M&t Bank 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 New York, Buffalo, Baltimore, Los Angeles, and Nassau County 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. M&t Bank is typically a medium-low fee lendor.


Originations

23,225

Origination Dollar Volume (All Markets)

$5,730,185,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 20,989 $5,268,695,000 $251,022
FHA 1,807 $350,215,000 $193,810
VA 353 $98,355,000 $278,626
USDA 76 $12,920,000 $170,000

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 7,719 $2,857,065,000 $370,134
Home Improvement 4,180 $330,780,000 $79,134
Other 2,527 $238,915,000 $94,545
Refi 5,911 $1,551,635,000 $262,500
Cash Out Refi 2,888 $751,790,000 $260,315

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 1,281 $910,945,000 $711,120
BUFFALO-CHEEKTOWAGA, NY 4,228 $722,390,000 $170,859
BALTIMORE-COLUMBIA-TOWSON, MD 2,278 $388,050,000 $170,347
LOS ANGELES-LONG BEACH-GLENDALE, CA 49 $307,535,000 $6,276,224
NASSAU COUNTY-SUFFOLK COUNTY, NY 541 $269,945,000 $498,974
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 814 $258,140,000 $317,125
Outside of Metro Areas 1,818 $247,990,000 $136,408
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 567 $159,595,000 $281,473
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 234 $157,500,000 $673,077
ROCHESTER, NY 1,253 $149,365,000 $119,206
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 42 $148,380,000 $3,532,857
NEWARK, NJ-PA 459 $125,655,000 $273,758
ALBANY-SCHENECTADY-TROY, NY 391 $121,525,000 $310,806
BRIDGEPORT-STAMFORD-NORWALK, CT 229 $116,645,000 $509,367
NEW BRUNSWICK-LAKEWOOD, NJ 445 $114,205,000 $256,640
SALISBURY, MD-DE 592 $112,600,000 $190,203
WILMINGTON, DE-MD-NJ 636 $102,430,000 $161,053
SYRACUSE, NY 741 $97,595,000 $131,707
YORK-HANOVER, PA 695 $79,925,000 $115,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 463 $75,365,000 $162,775
UTICA-ROME, NY 237 $49,845,000 $210,316
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 130 $49,220,000 $378,615
PHILADELPHIA, PA 236 $44,020,000 $186,525
BINGHAMTON, NY 393 $35,195,000 $89,555
SEATTLE-BELLEVUE-KENT, WA 58 $33,550,000 $578,448
HARRISBURG-CARLISLE, PA 283 $32,565,000 $115,071
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 31 $32,165,000 $1,037,581
SCRANTON--WILKES-BARRE, PA 322 $30,420,000 $94,472
CHAMBERSBURG-WAYNESBORO, PA 246 $29,750,000 $120,935
DENVER-AURORA-LAKEWOOD, CO 80 $27,810,000 $347,625
DOVER, DE 185 $27,565,000 $149,000
READING, PA 250 $23,930,000 $95,720
GETTYSBURG, PA 92 $23,740,000 $258,043
LANCASTER, PA 167 $23,365,000 $139,910
HAGERSTOWN-MARTINSBURG, MD-WV 199 $21,445,000 $107,764
OCEAN CITY, NJ 23 $18,625,000 $809,783
SALT LAKE CITY, UT 55 $18,585,000 $337,909
RICHMOND, VA 100 $18,470,000 $184,700
RALEIGH-CARY, NC 10 $16,900,000 $1,690,000
JOHNSTOWN, PA 11 $16,695,000 $1,517,727
CAMDEN, NJ 107 $16,005,000 $149,579
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 112 $15,390,000 $137,411
STATE COLLEGE, PA 106 $14,010,000 $132,170
KINGSTON, NY 107 $13,695,000 $127,991
ITHACA, NY 66 $13,620,000 $206,364
PHOENIX-MESA-CHANDLER, AZ 50 $12,680,000 $253,600
TRENTON-PRINCETON, NJ 54 $12,380,000 $229,259
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 54 $10,690,000 $197,963
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 36 $10,650,000 $295,833
PROVO-OREM, UT 37 $10,445,000 $282,297
ALTOONA, PA 109 $9,585,000 $87,936
NORTH PORT-SARASOTA-BRADENTON, FL 28 $9,530,000 $340,357
TAMPA-ST. PETERSBURG-CLEARWATER, FL 33 $8,955,000 $271,364
BOSTON, MA 18 $8,690,000 $482,778
NAPLES-MARCO ISLAND, FL 14 $8,540,000 $610,000
OGDEN-CLEARFIELD, UT 31 $7,955,000 $256,613
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 23 $7,955,000 $345,870
NEW HAVEN-MILFORD, CT 41 $7,835,000 $191,098
BLOOMSBURG-BERWICK, PA 58 $7,640,000 $131,724
CUMBERLAND, MD-WV 86 $7,340,000 $85,349
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 16 $7,070,000 $441,875
ATLANTIC CITY-HAMMONTON, NJ 14 $7,040,000 $502,857
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 15 $6,935,000 $462,333
GLENS FALLS, NY 25 $6,715,000 $268,600
LAS VEGAS-HENDERSON-PARADISE, NV 30 $6,670,000 $222,333
WILLIAMSPORT, PA 52 $6,080,000 $116,923
TACOMA-LAKEWOOD, WA 19 $5,935,000 $312,368
PORT ST. LUCIE, FL 19 $5,785,000 $304,474
ORLANDO-KISSIMMEE-SANFORD, FL 31 $5,565,000 $179,516
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 25 $5,425,000 $217,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 24 $5,100,000 $212,500
ANAHEIM-SANTA ANA-IRVINE, CA 10 $5,060,000 $506,000
CHARLESTON-NORTH CHARLESTON, SC 10 $4,840,000 $484,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 21 $4,805,000 $228,810
CAPE CORAL-FORT MYERS, FL 19 $4,745,000 $249,737
MIAMI-MIAMI BEACH-KENDALL, FL 15 $4,735,000 $315,667
LEBANON, PA 50 $4,670,000 $93,400
EAST STROUDSBURG, PA 23 $4,475,000 $194,565
BARNSTABLE TOWN, MA 4 $4,400,000 $1,100,000
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 4 $4,330,000 $1,082,500
OAKLAND-BERKELEY-LIVERMORE, CA 9 $4,255,000 $472,778
SALEM, OR 17 $4,105,000 $241,471
CHICAGO-NAPERVILLE-EVANSTON, IL 16 $3,880,000 $242,500
PITTSBURGH, PA 23 $3,585,000 $155,870
BEND, OR 10 $3,570,000 $357,000
KAHULUI-WAILUKU-LAHAINA, HI 2 $3,330,000 $1,665,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 13 $3,285,000 $252,692
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 14 $3,140,000 $224,286
ELMIRA, NY 29 $3,095,000 $106,724
SALINAS, CA 3 $3,035,000 $1,011,667
BOULDER, CO 4 $2,800,000 $700,000
HILTON HEAD ISLAND-BLUFFTON, SC 6 $2,760,000 $460,000
CINCINNATI, OH-KY-IN 14 $2,710,000 $193,571
WARREN-TROY-FARMINGTON HILLS, MI 16 $2,430,000 $151,875
DALLAS-PLANO-IRVING, TX 7 $2,395,000 $342,143
COLUMBUS, OH 14 $2,320,000 $165,714
BOISE CITY, ID 11 $2,225,000 $202,273
PORTLAND-SOUTH PORTLAND, ME 7 $2,215,000 $316,429
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 7 $2,175,000 $310,714
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 4 $2,150,000 $537,500
MODESTO, CA 10 $2,090,000 $209,000
SEBASTIAN-VERO BEACH, FL 4 $2,080,000 $520,000
EUGENE-SPRINGFIELD, OR 7 $2,055,000 $293,571
COLORADO SPRINGS, CO 9 $2,025,000 $225,000
GREENVILLE-ANDERSON, SC 8 $1,930,000 $241,250
AUSTIN-ROUND ROCK-GEORGETOWN, TX 8 $1,890,000 $236,250
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 12 $1,880,000 $156,667
KANSAS CITY, MO-KS 8 $1,850,000 $231,250
SPOKANE-SPOKANE VALLEY, WA 9 $1,825,000 $202,778
JACKSONVILLE, FL 8 $1,770,000 $221,250
OLYMPIA-LACEY-TUMWATER, WA 4 $1,710,000 $427,500
LONGVIEW, WA 6 $1,680,000 $280,000
SANTA MARIA-SANTA BARBARA, CA 3 $1,675,000 $558,333
HUNTSVILLE, AL 3 $1,665,000 $555,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 9 $1,585,000 $176,111
DURHAM-CHAPEL HILL, NC 5 $1,525,000 $305,000
PROVIDENCE-WARWICK, RI-MA 7 $1,525,000 $217,857
ROANOKE, VA 4 $1,520,000 $380,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 9 $1,445,000 $160,556
FORT WORTH-ARLINGTON-GRAPEVINE, TX 6 $1,430,000 $238,333
KNOXVILLE, TN 7 $1,415,000 $202,143
VALLEJO, CA 4 $1,410,000 $352,500
WINCHESTER, VA-WV 9 $1,345,000 $149,444
WATERTOWN-FORT DRUM, NY 11 $1,335,000 $121,364
COLUMBIA, SC 4 $1,200,000 $300,000
STOCKTON, CA 4 $1,200,000 $300,000
DETROIT-DEARBORN-LIVONIA, MI 7 $1,125,000 $160,714
BURLINGTON-SOUTH BURLINGTON, VT 3 $1,115,000 $371,667
OCALA, FL 6 $1,100,000 $183,333
BREMERTON-SILVERDALE-PORT ORCHARD, WA 3 $1,095,000 $365,000
SANTA FE, NM 3 $1,075,000 $358,333
FAYETTEVILLE, NC 7 $1,065,000 $152,143
CALIFORNIA-LEXINGTON PARK, MD 12 $1,060,000 $88,333
THE VILLAGES, FL 3 $1,045,000 $348,333
ST. GEORGE, UT 3 $1,015,000 $338,333
SANTA ROSA-PETALUMA, CA 2 $1,010,000 $505,000
VINELAND-BRIDGETON, NJ 5 $1,005,000 $201,000
TULSA, OK 2 $960,000 $480,000
YAKIMA, WA 4 $950,000 $237,500
FRESNO, CA 4 $950,000 $237,500
SPRINGFIELD, MA 5 $945,000 $189,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 6 $910,000 $151,667
MOUNT VERNON-ANACORTES, WA 2 $890,000 $445,000
TUCSON, AZ 6 $880,000 $146,667
NEW ORLEANS-METAIRIE, LA 4 $800,000 $200,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 5 $795,000 $159,000
MEMPHIS, TN-MS-AR 4 $760,000 $190,000
KILLEEN-TEMPLE, TX 5 $755,000 $151,000
BIRMINGHAM-HOOVER, AL 4 $750,000 $187,500
CHICO, CA 3 $745,000 $248,333
ST. LOUIS, MO-IL 6 $740,000 $123,333
PENSACOLA-FERRY PASS-BRENT, FL 3 $735,000 $245,000
LANSING-EAST LANSING, MI 6 $730,000 $121,667
FORT COLLINS, CO 2 $700,000 $350,000
CARSON CITY, NV 2 $700,000 $350,000
WINSTON-SALEM, NC 6 $690,000 $115,000
GRAND JUNCTION, CO 3 $685,000 $228,333
LAKELAND-WINTER HAVEN, FL 4 $680,000 $170,000
GREELEY, CO 3 $675,000 $225,000
KENNEWICK-RICHLAND, WA 3 $665,000 $221,667
SAN ANTONIO-NEW BRAUNFELS, TX 5 $655,000 $131,000
CHARLOTTESVILLE, VA 1 $635,000 $635,000
COEUR D'ALENE, ID 3 $635,000 $211,667
CLEVELAND-ELYRIA, OH 3 $635,000 $211,667
ALBUQUERQUE, NM 5 $625,000 $125,000
BAKERSFIELD, CA 3 $625,000 $208,333
BATON ROUGE, LA 5 $625,000 $125,000
OXNARD-THOUSAND OAKS-VENTURA, CA 1 $595,000 $595,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 3 $585,000 $195,000
GARY, IN 3 $585,000 $195,000
BELLINGHAM, WA 2 $580,000 $290,000
CORVALLIS, OR 2 $580,000 $290,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 4 $580,000 $145,000
WILMINGTON, NC 2 $560,000 $280,000
VISALIA, CA 3 $545,000 $181,667
SAN LUIS OBISPO-PASO ROBLES, CA 2 $540,000 $270,000
TOLEDO, OH 1 $535,000 $535,000
MOBILE, AL 4 $530,000 $132,500
LAKE COUNTY-KENOSHA COUNTY, IL-WI 3 $525,000 $175,000
OMAHA-COUNCIL BLUFFS, NE-IA 3 $505,000 $168,333
PUNTA GORDA, FL 3 $495,000 $165,000
ATHENS-CLARKE COUNTY, GA 2 $470,000 $235,000
LYNCHBURG, VA 2 $460,000 $230,000
GULFPORT-BILOXI, MS 3 $455,000 $151,667
GREEN BAY, WI 2 $450,000 $225,000
MANCHESTER-NASHUA, NH 2 $450,000 $225,000
ALBANY-LEBANON, OR 2 $450,000 $225,000
NORWICH-NEW LONDON, CT 1 $435,000 $435,000
ELGIN, IL 2 $420,000 $210,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 4 $420,000 $105,000
GRAND RAPIDS-KENTWOOD, MI 3 $415,000 $138,333
MERCED, CA 2 $410,000 $205,000
OKLAHOMA CITY, OK 3 $405,000 $135,000
RENO, NV 1 $405,000 $405,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $390,000 $195,000
MORGANTOWN, WV 7 $365,000 $52,143
ASHEVILLE, NC 2 $350,000 $175,000
CANTON-MASSILLON, OH 3 $335,000 $111,667
PANAMA CITY, FL 2 $330,000 $165,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 4 $330,000 $82,500
SPARTANBURG, SC 2 $330,000 $165,000
ST. CLOUD, MN 2 $320,000 $160,000
DES MOINES-WEST DES MOINES, IA 3 $305,000 $101,667
BOWLING GREEN, KY 2 $300,000 $150,000
ELIZABETHTOWN-FORT KNOX, KY 2 $280,000 $140,000
AKRON, OH 2 $270,000 $135,000
PUEBLO, CO 2 $270,000 $135,000
SAGINAW, MI 2 $260,000 $130,000
SPRINGFIELD, OH 1 $255,000 $255,000
PRESCOTT VALLEY-PRESCOTT, AZ 1 $255,000 $255,000
MORRISTOWN, TN 1 $255,000 $255,000
LEXINGTON-FAYETTE, KY 2 $250,000 $125,000
PITTSFIELD, MA 2 $250,000 $125,000
GREENSBORO-HIGH POINT, NC 1 $245,000 $245,000
DAYTON-KETTERING, OH 2 $240,000 $120,000
HANFORD-CORCORAN, CA 1 $235,000 $235,000
GREENVILLE, NC 3 $235,000 $78,333
SPRINGFIELD, IL 1 $235,000 $235,000
CHATTANOOGA, TN-GA 2 $230,000 $115,000
WHEELING, WV-OH 2 $230,000 $115,000
GAINESVILLE, FL 1 $215,000 $215,000
COLLEGE STATION-BRYAN, TX 1 $215,000 $215,000
WAUSAU-WESTON, WI 1 $215,000 $215,000
HOMOSASSA SPRINGS, FL 2 $210,000 $105,000
NEW BERN, NC 2 $200,000 $100,000
LAKE CHARLES, LA 1 $195,000 $195,000
CLARKSVILLE, TN-KY 1 $195,000 $195,000
ANCHORAGE, AK 1 $195,000 $195,000
FLINT, MI 2 $190,000 $95,000
JOHNSON CITY, TN 1 $185,000 $185,000
MEDFORD, OR 1 $185,000 $185,000
OWENSBORO, KY 1 $185,000 $185,000
WENATCHEE, WA 1 $185,000 $185,000
GADSDEN, AL 1 $185,000 $185,000
LEWISTON-AUBURN, ME 1 $185,000 $185,000
ERIE, PA 2 $180,000 $90,000
BLACKSBURG-CHRISTIANSBURG, VA 2 $180,000 $90,000
IDAHO FALLS, ID 1 $175,000 $175,000
CHAMPAIGN-URBANA, IL 1 $175,000 $175,000
WORCESTER, MA-CT 1 $175,000 $175,000
FORT WAYNE, IN 1 $165,000 $165,000
LOGAN, UT-ID 1 $165,000 $165,000
TALLAHASSEE, FL 1 $155,000 $155,000
CHARLESTON, WV 1 $155,000 $155,000
JEFFERSON CITY, MO 1 $155,000 $155,000
GAINESVILLE, GA 1 $155,000 $155,000
JACKSONVILLE, NC 1 $155,000 $155,000
CHEYENNE, WY 1 $155,000 $155,000
BROWNSVILLE-HARLINGEN, TX 1 $155,000 $155,000
WICHITA FALLS, TX 1 $145,000 $145,000
FARMINGTON, NM 1 $145,000 $145,000
SOUTH BEND-MISHAWAKA, IN-MI 1 $145,000 $145,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $145,000 $145,000
AMES, IA 1 $135,000 $135,000
DULUTH, MN-WI 1 $135,000 $135,000
MANKATO, MN 1 $135,000 $135,000
BEAUMONT-PORT ARTHUR, TX 1 $135,000 $135,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $135,000 $135,000
HATTIESBURG, MS 1 $135,000 $135,000
AMARILLO, TX 1 $135,000 $135,000
KINGSPORT-BRISTOL, TN-VA 1 $125,000 $125,000
RAPID CITY, SD 1 $125,000 $125,000
SPRINGFIELD, MO 1 $125,000 $125,000
AUBURN-OPELIKA, AL 1 $125,000 $125,000
STAUNTON, VA 1 $115,000 $115,000
SUMTER, SC 1 $115,000 $115,000
MUNCIE, IN 1 $105,000 $105,000
HARRISONBURG, VA 1 $105,000 $105,000
ODESSA, TX 1 $105,000 $105,000
EVANSVILLE, IN-KY 1 $105,000 $105,000
ROCKY MOUNT, NC 1 $105,000 $105,000
MONROE, MI 1 $105,000 $105,000
ELKHART-GOSHEN, IN 1 $95,000 $95,000
MILWAUKEE-WAUKESHA, WI 1 $95,000 $95,000
COLUMBUS, GA-AL 1 $85,000 $85,000
EAU CLAIRE, WI 1 $85,000 $85,000
TWIN FALLS, ID 1 $85,000 $85,000
FLORENCE-MUSCLE SHOALS, AL 1 $85,000 $85,000
TERRE HAUTE, IN 1 $85,000 $85,000
WICHITA, KS 1 $75,000 $75,000
SAVANNAH, GA 1 $75,000 $75,000
WEIRTON-STEUBENVILLE, WV-OH 1 $65,000 $65,000
OSHKOSH-NEENAH, WI 1 $65,000 $65,000
SIERRA VISTA-DOUGLAS, AZ 1 $65,000 $65,000

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% 1,234 $61,480,000 $49,822
2.5-3% 2,171 $419,005,000 $193,001
3-4% 8,642 $2,743,130,000 $317,418
4-5% 5,063 $1,535,535,000 $303,286
5-6% 3,105 $771,645,000 $248,517
6-7% 1,874 $158,540,000 $84,600
7-8% 703 $30,705,000 $43,677
Over 8% 433 $10,145,000 $23,430

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 8,908 $437,560,000 $49,120
$100k-200k 7,394 $1,004,490,000 $135,852
$200k-400k 4,696 $1,284,880,000 $273,612
$400k-600k 1,246 $599,000,000 $480,738
$600k-1000k 645 $470,275,000 $729,109
$Over $1MM 336 $1,933,980,000 $5,755,893

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% 4,321 $598,195,000 $138,439
40-60% 3,148 $1,278,930,000 $406,267
60-80% 5,426 $1,918,730,000 $353,618
80-100% 5,816 $1,523,690,000 $261,982
Over 100% 81 $30,195,000 $372,778
Under 20% 4,077 $373,305,000 $91,564

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 4,195 $781,065,000 $186,190
$150k-250k 2,747 $692,655,000 $252,150
$50k-75k 4,980 $599,100,000 $120,301
$50k-or less 4,245 $356,515,000 $83,985
$75k-100k 3,625 $539,875,000 $148,931
$Over $250k 1,753 $925,355,000 $527,869

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 18,905 $3,278,175,000 $173,403
Not applicable 287 $1,626,955,000 $5,668,833
Black 1,847 $301,305,000 $163,132
Not provided 1,148 $270,030,000 $235,218
Asian 732 $198,920,000 $271,749
Asian Indian 71 $20,105,000 $283,169
American Indian 86 $13,950,000 $162,209
Native Hawaiian 33 $5,085,000 $154,091
Other Asian 23 $5,015,000 $218,043
Other Pacific Islander 31 $3,755,000 $121,129
28 $2,030,000 $72,500
Chinese 10 $1,550,000 $155,000
Korean 6 $1,190,000 $198,333
Vietnamese 9 $1,065,000 $118,333
Filipino 8 $1,030,000 $128,750
Native Hawiian 1 $25,000 $25,000

Approval Rates

Total approvals of all applications
76.99%

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
87.65%

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 23,225 $5,730,185,000 $246,725

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,585 $376,305,000 $237,416
$1k-2k 6,923 $1,824,555,000 $263,550
$2k-3k 1,136 $293,750,000 $258,583
$3k-4k 750 $228,890,000 $305,187
$5k+ 483 $257,215,000 $532,536

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 2 $21,050,000 $10,525,000
Multifamily:Site-Built 146 $1,487,700,000 $10,189,726
Single Family (1-4 Units):Manufactured 172 $15,900,000 $92,442
Single Family (1-4 Units):Site-Built 22,905 $4,205,535,000 $183,608