Singing River Federal Credit Union Mortgage Rates, Fees & Info
Moss Point, MSLEI: 2549005WP4EISHQKDS45
Tax ID: 64-0328190
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Mortgage Data
Review & Overview
Singing River Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Singing River Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Gulfport, Mobile, and Hattiesburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Singing River Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
73Origination Dollar Volume (All Markets)
$8,115,000Top 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 |
|---|---|---|---|---|---|
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 38 | $4,670,000 | $122,895 | $0 | 0.00% |
| Outside of Metro Areas | 26 | $2,730,000 | $105,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 8 | $540,000 | $67,500 | $0 | 0.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $8,115,000 | $111,164 | $0 | 0.00% |
For 2019, Singing River Federal Credit Union's most frequently originated type of loan was Conventional, with 73 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 34 | $3,170,000 | $93,235 | $0 | 0.00% |
| Home Purchase | 29 | $3,785,000 | $130,517 | $0 | 0.00% |
| Refi | 10 | $1,160,000 | $116,000 | $0 | 0.00% |
For 2019, Singing River Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 73 | $8,115,000 | $111,164 | $0 | 0.00% |
For 2019, Singing River Federal Credit Union's most frequently cited loan duration was Other, with 73 originations.
Loan Sizing
2019 saw Singing River Federal Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $2,210,000 in origination value.
Applicant Income
Singing River Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $100k-150k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 73 | $8,115,000 | $111,164 | $0 | 0.00% |
Singing River Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.53%
Singing River Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination69.86%
Singing River Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 73 | $8,115,000 | $111,164 |