New Bedford Credit Union Mortgage Rates, Fees & Info
New Bedford, MALEI: 25490055DH0FCOSJLM57
Tax ID: 04-1659235
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
New Bedford Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. New Bedford Credit Union has a high proportion of conventional loans.New Bedford Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
88Origination Dollar Volume (All Markets)
$14,440,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 88 | $14,440,000 | $164,091 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 88 | $14,440,000 | $164,091 | $0 | 0.00% |
For 2021, New Bedford Credit Union's most frequently originated type of loan was Conventional, with 88 originations.
Loan Reason
For 2021, New Bedford Credit Union's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 88 | $14,440,000 | $164,091 | $0 | 0.00% |
For 2021, New Bedford Credit Union's most frequently cited loan duration was Other, with 88 originations.
Loan Sizing
2021 saw New Bedford Credit Union place emphasis on $100,000 or less loans with 31 originations, totaling $1,545,000 in origination value.
Applicant Income
New Bedford Credit Union lent most frequently to those with incomes in the $75k-100k range, with 24 originations. The second most popular income band? $100k-150k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 88 | $14,440,000 | $164,091 | $0 | 0.00% |
New Bedford Credit Union lent most frequently to those with DTI ratios of Exempt%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
New Bedford Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination92.05%
New Bedford Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 88 | $14,440,000 | $164,091 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NBT BANCORP INC. | Conventional home mortgage | Closing on a mortgage | 2 | 66.7% |
| NBT BANCORP INC. | Conventional home mortgage | Incorrect information on your report | 1 | 33.3% |