Meadowbrook Financial Mortgage Bankers Corp. Rates, Fees & Info
ALBANY, NYLEI: 2549008X67CV1MNM7747
Tax ID: 37-1572886
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Meadowbrook Financial Mortgage Bankers Corp. is a small bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Meadowbrook Financial Mortgage Bankers Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include New York, Bridgeport, Poughkeepsie, Miami, and New Haven among others. Meadowbrook Financial Mortgage Bankers Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Meadowbrook Financial Mortgage Bankers Corp. is typically a high fee lendor.Originations
2,559Origination Dollar Volume (All Markets)
$1,123,155,000Relative Rate
Meadowbrook Financial Mortgage Bankers Corp.'s average 30 year fixed rate mortgage of loans were
3.17%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.02%.
Relative Fees
Meadowbrook Financial Mortgage Bankers Corp.'s average total fees for a 30 year fixed rate
mortgage are $11,837.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2,254 | $1,030,260,000 | $457,081 | $11,721 | 3.12% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 38 | $11,880,000 | $312,632 | $11,716 | 3.16% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 32 | $10,320,000 | $322,500 | $9,548 | 3.18% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 30 | $8,840,000 | $294,667 | $7,856 | 3.29% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 20 | $5,840,000 | $292,000 | $10,660 | 3.21% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 13 | $5,275,000 | $405,769 | $10,071 | 3.04% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 13 | $3,895,000 | $299,615 | $9,230 | 3.21% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 11 | $3,565,000 | $324,091 | $10,161 | 3.19% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 11 | $3,435,000 | $312,273 | $11,984 | 3.01% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $3,220,000 | $322,000 | $7,686 | 3.33% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 7 | $2,995,000 | $427,857 | $8,692 | 3.07% |
| Outside of Metro Areas | 13 | $2,575,000 | $198,077 | $8,289 | 3.29% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $9,325 | 3.21% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $1,935,000 | $387,000 | $9,423 | 3.15% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 6 | $1,810,000 | $301,667 | $9,635 | 3.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $1,800,000 | $225,000 | $7,381 | 3.33% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $9,427 | 3.15% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $1,365,000 | $273,000 | $11,670 | 3.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $5,414 | 3.47% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $7,300 | 2.71% |
| Torrington, CT (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $6,914 | 3.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $5,764 | 2.91% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $7,746 | 3.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $9,905 | 3.13% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $5,555 | 2.79% |
| KINGSTON, NY (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $6,157 | 2.96% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $6,664 | 3.08% |
| ROCHESTER, NY (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $6,006 | 2.79% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $24,398 | 3.13% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $6,424 | 3.06% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $6,240 | 3.16% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $5,533 | 3.50% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $10,882 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,691 | 3.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,480 | 3.13% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $10,645 | 2.69% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $9,237 | 2.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,443 | 3.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $10,051 | 3.44% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $5,766 | 3.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $11,117 | 3.06% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,163 | 2.50% |
| DOVER, DE (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $18,399 | 3.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,818 | 2.88% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,864 | 2.63% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,126 | 3.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,305 | 2.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,550 | 2.88% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,562 | 2.88% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,601 | 3.75% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,948 | 2.88% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,996 | 2.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,077 | 2.38% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,643 | 2.63% |
Meadowbrook Financial Mortgage Bankers Corp.'s top markets include New York, Bridgeport, Poughkeepsie, Miami, and New Haven among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,176 | $928,610,000 | $426,751 | $9,763 | 3.14% |
| FHA | 352 | $179,470,000 | $509,858 | $21,366 | 3.07% |
| VA | 31 | $15,075,000 | $486,290 | $13,288 | 2.78% |
For the 2021 period, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently originated loan type of loans were Conventional, with 2,176 originations. Their 2nd most popular type is FHA, with 352 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,248 | $573,250,000 | $459,335 | $12,635 | 3.16% |
| Refi | 712 | $303,260,000 | $425,927 | $10,186 | 3.00% |
| Cash Out Refi | 599 | $246,645,000 | $411,761 | $10,369 | 3.21% |
For the 2021, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 1,248 originations. The 2nd most popular reason of loans were Refi, with 712 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,301 | $1,030,825,000 | $447,990 | $11,837 | 3.17% |
| 15 Year | 113 | $39,175,000 | $346,681 | $7,776 | 2.56% |
| 20 Year | 95 | $35,215,000 | $370,684 | $7,583 | 2.84% |
| Other | 40 | $15,380,000 | $384,500 | $8,449 | 2.98% |
| 10 Year | 10 | $2,560,000 | $256,000 | $6,299 | 2.53% |
For the 2021, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan length of loans were 30 Year, with 2,301 originations. The 2nd most popular length of loans were 15 Year, with 113 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 1,359 | $658,195,000 | $484,323 |
| $1k-2k | 704 | $290,940,000 | $413,267 |
| $3k-4k | 368 | $129,360,000 | $351,522 |
| $2k-3k | 92 | $31,140,000 | $338,478 |
| $<1k | 3 | $1,155,000 | $385,000 |
$11,837 of loans were Meadowbrook Financial Mortgage Bankers Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 1,359 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,375 | $626,895,000 | $455,924 |
| 2.5-3% | 960 | $405,860,000 | $422,771 |
| <2.5% | 179 | $70,475,000 | $393,715 |
| 4-5% | 44 | $19,850,000 | $451,136 |
| 5-6% | 1 | $75,000 | $75,000 |
During 2021, Meadowbrook Financial Mortgage Bankers Corp.'s average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 3-4%, with 1,375 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $400k-600k | 1,145 | $557,225,000 | $486,659 | $11,905 | 3.13% |
| $200k-400k | 895 | $280,285,000 | $313,168 | $8,736 | 3.08% |
| $600k-1MM | 366 | $258,300,000 | $705,738 | $18,200 | 3.24% |
| $100k-200k | 149 | $24,035,000 | $161,309 | $6,496 | 3.15% |
| $1MM+ | 3 | $3,235,000 | $1,078,333 | $32,626 | 3.63% |
| $100,000 or less | 1 | $75,000 | $75,000 | $0 | 5.99% |
2021 saw Meadowbrook Financial Mortgage Bankers Corp. place emphasis on $400k-600k loans with 1,145 originations, totaling $557,225,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 930 | $439,370,000 | $472,441 | $12,453 | 3.12% |
| $150k-250k | 582 | $279,080,000 | $479,519 | $10,943 | 3.12% |
| $75k-100k | 531 | $215,785,000 | $406,375 | $11,713 | 3.14% |
| $50k-75k | 291 | $92,235,000 | $316,959 | $10,077 | 3.14% |
| $250k+ | 153 | $77,055,000 | $503,627 | $9,493 | 3.14% |
| $50k or less | 70 | $18,190,000 | $259,857 | $9,041 | 3.12% |
Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with incomes in the $100k-150k range, with 930 originations. The second most popular income band? $150k-250k, with 582 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 382 | $157,330,000 | $411,859 | $9,541 | 3.12% |
| 20-30% | 320 | $124,840,000 | $390,125 | $8,326 | 3.02% |
| 44% | 165 | $74,105,000 | $449,121 | $12,010 | 3.22% |
| 49% | 158 | $71,010,000 | $449,430 | $12,196 | 3.13% |
| 50-60% | 150 | $75,800,000 | $505,333 | $21,120 | 3.09% |
| 43% | 139 | $63,995,000 | $460,396 | $11,559 | 3.11% |
| 41% | 138 | $64,140,000 | $464,783 | $11,843 | 3.22% |
| 42% | 116 | $50,570,000 | $435,948 | $10,700 | 3.24% |
| 45% | 112 | $50,270,000 | $448,839 | $12,490 | 3.20% |
| 39% | 110 | $50,310,000 | $457,364 | $11,167 | 3.13% |
| 40% | 109 | $48,015,000 | $440,505 | $10,568 | 3.14% |
| 37% | 108 | $46,830,000 | $433,611 | $10,003 | 3.08% |
| 47% | 105 | $49,895,000 | $475,190 | $14,004 | 3.15% |
| 48% | 100 | $48,270,000 | $482,700 | $13,600 | 3.17% |
| 38% | 97 | $39,385,000 | $406,031 | $10,112 | 3.12% |
| 46% | 88 | $39,950,000 | $453,977 | $12,757 | 3.18% |
| 36% | 80 | $35,460,000 | $443,250 | $9,854 | 3.19% |
| <20% | 68 | $25,730,000 | $378,382 | $8,755 | 2.97% |
Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 30-36%, with 382 originations. The next most common DTI ratio? 20-30%, with 320 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,591 | $683,095,000 | $429,349 | $10,007 | 3.10% |
| Black | 487 | $215,595,000 | $442,700 | $14,716 | 3.18% |
| Asian | 336 | $162,310,000 | $483,065 | $13,565 | 3.21% |
| Not provided | 77 | $34,275,000 | $445,130 | $11,597 | 3.05% |
| Asian Indian | 39 | $16,415,000 | $420,897 | $10,405 | 2.91% |
| Other Asian | 14 | $5,330,000 | $380,714 | $10,326 | 3.26% |
| Native Hawaiian | 7 | $2,725,000 | $389,286 | $7,212 | 3.05% |
| American Indian | 6 | $2,680,000 | $446,667 | $12,342 | 3.06% |
| Other Pacific Islander | 2 | $730,000 | $365,000 | $10,885 | 3.06% |
Approval Rates
Total approvals of all applications96.75%
Meadowbrook Financial Mortgage Bankers Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination38.79%
Meadowbrook Financial Mortgage Bankers Corp. 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 |
|---|---|---|---|
| NA | 2,559 | $1,123,155,000 | $438,904 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,559 | $1,123,155,000 | $438,904 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 123 | $38,115,000 | $309,878 | $8,260 | 2.96% |
| 40-60% | 424 | $163,090,000 | $384,646 | $9,380 | 3.01% |
| 60-80% | 1,036 | $462,810,000 | $446,728 | $10,384 | 3.18% |
| 80-100% | 954 | $451,170,000 | $472,925 | $13,801 | 3.14% |
| Over 100% | 6 | $3,450,000 | $575,000 | $20,911 | 3.00% |
| Under 20% | 14 | $3,080,000 | $220,000 | $7,839 | 3.36% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Meadowbrook Financial Mortgage Bankers Corp. | Conventional home mortgage | Improper use of your report | 1 | 50.0% |
| Meadowbrook Financial Mortgage Bankers Corp. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
