Mutual Savings Credit Union Mortgage Rates, Fees & Info
Birmingham, ALLEI: 2549008PQJ4J5Z32RI14
Tax ID: 63-0148940
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Mutual Savings Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Mutual Savings Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Daphne, Alexander City, Tuscaloosa, and Selma among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Mutual Savings Credit Union has an 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
96Origination Dollar Volume (All Markets)
$25,720,000Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 61 | $16,445,000 | $269,590 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 7 | $3,775,000 | $539,286 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 6 | $1,960,000 | $326,667 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 9 | $1,515,000 | $168,333 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $990,000 | $495,000 | $0 | 0.00% |
| Selma, AL (FHA|USDA|VA) | 8 | $890,000 | $111,250 | $0 | 0.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Mutual Savings Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 96 | $25,720,000 | $267,917 | $0 | 0.00% |
For 2022, Mutual Savings Credit Union's most frequently originated type of loan was Conventional, with 96 originations.
Loan Reason
For 2022, Mutual Savings Credit Union's most frequently cited loan purpose was Cash Out Refi, with 44 originations. The 2nd most popular reason was Home Purchase, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 96 | $25,720,000 | $267,917 | $0 | 0.00% |
For 2022, Mutual Savings Credit Union's most frequently cited loan duration was Other, with 96 originations.
Loan Sizing
2022 saw Mutual Savings Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,800,000 in origination value.
Applicant Income
Mutual Savings Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $50k or less, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 96 | $25,720,000 | $267,917 | $0 | 0.00% |
Mutual Savings Credit Union lent most frequently to those with DTI ratios of Exempt%, with 96 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.42%
Mutual Savings Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination64.58%
Mutual Savings 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 | 96 | $25,720,000 | $267,917 |