Meadowbrook Financial Mortgage Bankers Corp. Rates, Fees & Info

ALBANY, NY

LEI: 2549008X67CV1MNM7747

Tax ID: 37-1572886

1 stars - out of 5 stars, based on 51 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

2,559

Origination Dollar Volume (All Markets)

$1,123,155,000

Relative 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 applications
96.75%

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 origination
38.79%

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%