Meadowbrook Financial Mortgage Bankers Corp. Rates, Fees & Info
ALBANY, NYLEI: 2549008X67CV1MNM7747
Tax ID: 37-1572886
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Mortgage Data
Review & Overview
Meadowbrook Financial Mortgage Bankers Corp. is a smaller bank specializing in Home Purchase and Refi loans. Meadowbrook Financial Mortgage Bankers Corp. has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: New York, Washington, Cape Coral, Bridgeport, and Poughkeepsie among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)Meadowbrook Financial Mortgage Bankers Corp. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Meadowbrook Financial Mortgage Bankers Corp. is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.92% | 12/16/24 |
| 30 Year Conventional Refi | 6.57% | 12/16/24 |
| 30 Year Cash-out Refi | 6.92% | 12/16/24 |
| 30 Year FHA Purchase | 7.42% | 12/16/24 |
| 30 Year FHA Refi | 6.90% | 12/16/24 |
| 30 Year VA Purchase | 6.36% | 12/16/24 |
| 15 Year Conventional Purchase | 6.32% | 12/16/24 |
| 15 Year Conventional Refi | 6.43% | 12/16/24 |
| 15 Year Cash-out Refi | 6.43% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Meadowbrook Financial Mortgage Bankers Corp. Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Meadowbrook Financial Mortgage Bankers Corp.. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,422Origination Dollar Volume (All Markets)
$574,400,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1,245 | $530,295,000 | $425,940 | $13,194 | 4.39% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $5,755,000 | $338,529 | $12,877 | 4.17% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 24 | $4,960,000 | $206,667 | $7,031 | 4.31% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 15 | $4,145,000 | $276,333 | $11,241 | 4.51% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 16 | $3,580,000 | $223,750 | $8,390 | 4.42% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $3,165,000 | $287,727 | $6,615 | 4.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 12 | $3,010,000 | $250,833 | $10,527 | 4.44% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $2,820,000 | $282,000 | $7,087 | 4.20% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 6 | $2,480,000 | $413,333 | $12,092 | 4.46% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $10,634 | 4.69% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $9,809 | 5.04% |
| Outside of Metro Areas | 6 | $1,250,000 | $208,333 | $5,029 | 4.38% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $11,054 | 4.48% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 6 | $1,090,000 | $181,667 | $9,115 | 4.15% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $8,715 | 4.20% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $6,860 | 4.91% |
| KINGSTON, NY (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $10,694 | 4.33% |
| Hudson, NY (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,839 | 5.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,588 | 5.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,725 | 4.25% |
| SYRACUSE, NY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $9,496 | 3.81% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $8,062 | 4.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $8,060 | 4.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,373 | 3.88% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,573 | 3.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,919 | 3.94% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,098 | 5.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,480 | 4.25% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,157 | 4.13% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $8,203 | 4.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,953 | 4.81% |
| OCALA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,712 | 4.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,583 | 4.38% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $8,772 | 4.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,558 | 5.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,279 | 3.38% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $9,322 | 5.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 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
For 2019, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently originated type of loan was Conventional, with 918 originations. Their 2nd most popular type was FHA, with 466 originations.
Loan Reason
For 2019, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan purpose was Home Purchase, with 779 originations. The 2nd most popular reason was Refi, with 642 originations.
Loan Duration/Length
For 2019, Meadowbrook Financial Mortgage Bankers Corp.'s most frequently cited loan duration was 30 Year, with 1,332 originations. The 2nd most popular length was 20 Year, with 40 originations.
Origination Fees/Closing Costs
Meadowbrook Financial Mortgage Bankers Corp.'s average total fees were $12,866, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 704 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 762 | $311,580,000 | $408,898 |
| 3-4% | 454 | $178,100,000 | $392,291 |
| 5-6% | 195 | $80,545,000 | $413,051 |
| 6-7% | 9 | $3,435,000 | $381,667 |
| 2.5-3% | 2 | $740,000 | $370,000 |
During 2019, Meadowbrook Financial Mortgage Bankers Corp.'s average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 762 originations.
Loan Sizing
2019 saw Meadowbrook Financial Mortgage Bankers Corp. place emphasis on $200k-400k loans with 589 originations, totaling $186,945,000 in origination value.
Applicant Income
Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with incomes in the $100k-150k range, with 514 originations. The second most popular income band? $75k-100k, with 327 originations.
Applicant Debt to Income Ratio
Meadowbrook Financial Mortgage Bankers Corp. lent most frequently to those with DTI ratios of 50-60%, with 198 originations. The next most common DTI ratio? 30-36%, with 168 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.21%
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 origination42.83%
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 | 1,422 | $574,400,000 | $403,938 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $640,000 | $320,000 |
| Single Family (1-4 Units):Site-Built | 1,420 | $573,760,000 | $404,056 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Meadowbrook Financial Mortgage Bankers Corp. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| Meadowbrook Financial Mortgage Bankers Corp. | FHA mortgage | Trouble during payment process | 1 | 50.0% |