Mortgage Network Rates, Fees & Info
DANVERS, MALEI: 254900A69XJBWUR7ZF46
Tax ID: 04-2992161
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Mortgage Network is a mid-sized mortgage company specializing in Home Purchase and Refi loans. Mortgage Network has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Boston, Hilton Head Island, Springfield, Portland, and Worcester among others. Mortgage Network 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. Mortgage Network is typically an average fee lendor.Originations
10,906Origination Dollar Volume (All Markets)
$3,798,480,000Awards
Mortgage Network - 2021
Mortgage Network is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Mortgage Network 's average 30 year fixed rate mortgage of loans were
3.04%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.11%.
Relative Fees
Mortgage Network 's average total fees for a 30 year fixed rate
mortgage are $4,580.
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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4,251 | $1,835,905,000 | $431,876 | $3,979 | 2.95% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1,166 | $441,680,000 | $378,799 | $4,250 | 3.05% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 767 | $176,965,000 | $230,724 | $5,182 | 2.97% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 522 | $157,830,000 | $302,356 | $4,401 | 2.97% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 389 | $131,545,000 | $338,162 | $4,176 | 2.96% |
| COLUMBIA, SC (FHA|USDA|VA) | 479 | $116,905,000 | $244,061 | $4,227 | 2.92% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 344 | $113,850,000 | $330,959 | $4,057 | 2.96% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 443 | $99,685,000 | $225,023 | $5,236 | 3.02% |
| Outside of Metro Areas | 251 | $64,775,000 | $258,068 | $4,389 | 3.03% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 181 | $64,255,000 | $355,000 | $3,888 | 3.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 183 | $56,575,000 | $309,153 | $5,560 | 2.81% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 140 | $54,640,000 | $390,286 | $3,676 | 2.95% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 221 | $50,215,000 | $227,217 | $4,854 | 2.91% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 144 | $44,110,000 | $306,319 | $3,996 | 3.03% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 216 | $41,420,000 | $191,759 | $5,829 | 2.99% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 130 | $33,790,000 | $259,923 | $5,719 | 3.04% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 71 | $27,995,000 | $394,296 | $3,979 | 2.92% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 60 | $27,300,000 | $455,000 | $7,071 | 2.96% |
| LANCASTER, PA (FHA|USDA|VA) | 94 | $21,460,000 | $228,298 | $5,069 | 2.94% |
| BANGOR, ME (FHA|USDA|VA) | 111 | $21,005,000 | $189,234 | $5,145 | 3.06% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 55 | $15,905,000 | $289,182 | $3,690 | 2.86% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 52 | $13,440,000 | $258,462 | $4,754 | 2.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 17 | $10,505,000 | $617,941 | $6,184 | 3.05% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 26 | $10,060,000 | $386,923 | $3,919 | 3.07% |
| Concord, NH (FHA|USDA|VA) | 34 | $9,570,000 | $281,471 | $4,411 | 3.02% |
| SAVANNAH, GA (FHA|USDA|VA) | 31 | $8,455,000 | $272,742 | $5,064 | 3.13% |
| LEBANON, PA (FHA|USDA|VA) | 34 | $8,430,000 | $247,941 | $5,619 | 3.14% |
| Laconia, NH (FHA|USDA|VA) | 36 | $8,390,000 | $233,056 | $4,150 | 3.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 29 | $8,165,000 | $281,552 | $4,052 | 3.02% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 33 | $7,515,000 | $227,727 | $4,250 | 2.90% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 25 | $7,255,000 | $290,200 | $6,582 | 3.22% |
| Vineyard Haven, MA (FHA|USDA|VA) | 11 | $7,145,000 | $649,545 | $5,166 | 2.96% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 26 | $6,650,000 | $255,769 | $5,534 | 3.05% |
| SPARTANBURG, SC (FHA|USDA|VA) | 20 | $6,570,000 | $328,500 | $3,423 | 2.92% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 20 | $5,860,000 | $293,000 | $3,539 | 2.94% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 22 | $5,340,000 | $242,727 | $5,480 | 2.95% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 13 | $5,125,000 | $394,231 | $5,191 | 3.05% |
| ASHEVILLE, NC (FHA|USDA|VA) | 13 | $4,875,000 | $375,000 | $3,963 | 2.99% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 16 | $4,250,000 | $265,625 | $3,974 | 3.08% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 13 | $4,225,000 | $325,000 | $5,352 | 2.96% |
| Cambridge, MD (FHA|USDA|VA) | 19 | $4,185,000 | $220,263 | $5,751 | 3.02% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 10 | $3,770,000 | $377,000 | $5,717 | 3.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 14 | $2,790,000 | $199,286 | $4,909 | 3.03% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 7 | $2,745,000 | $392,143 | $5,585 | 3.05% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 9 | $2,695,000 | $299,444 | $4,675 | 3.25% |
| PITTSFIELD, MA (FHA|USDA|VA) | 11 | $2,595,000 | $235,909 | $3,577 | 2.92% |
| Forest City, NC (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $3,639 | 2.91% |
| Keene, NH (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $4,440 | 3.08% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $5,498 | 3.22% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 6 | $1,450,000 | $241,667 | $8,325 | 3.08% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $5,497 | 2.95% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $3,545 | 3.03% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $4,052 | 2.67% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $4,655 | 2.97% |
| Torrington, CT (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $11,854 | 3.21% |
| ROANOKE, VA (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $3,572 | 2.87% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $4,883 | 2.87% |
| DOVER, DE (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $5,221 | 3.12% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $6,487 | 2.83% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $4,908 | 3.12% |
| Seneca, SC (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $4,210 | 2.69% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $3,783 | 2.91% |
| READING, PA (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $5,005 | 2.90% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $7,429 | 2.81% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $5,438 | 3.12% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $6,949 | 2.88% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $4,373 | 2.81% |
| Key West, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $8,756 | 2.38% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $6,009 | 2.88% |
| Easton, MD (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,106 | 3.12% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,310 | 3.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $2,795 | 3.68% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,191 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $4,378 | 3.04% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,861 | 2.94% |
| SUMTER, SC (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,560 | 3.42% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,126 | 2.88% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $6,389 | 2.88% |
| FLORENCE, SC (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $3,384 | 2.79% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,314 | 2.99% |
| Brevard, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,163 | 2.88% |
| BRUNSWICK, GA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,615 | 3.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,733 | 3.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,134 | 2.63% |
| Berlin, NH (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,385 | 3.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,792 | 3.25% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,419 | 2.88% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,264 | 2.88% |
| Newberry, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,818 | 3.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,658 | 3.19% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,455 | 3.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,823 | 2.99% |
| Rutland, VT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,338 | 3.25% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,113 | 2.99% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,167 | 2.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,669 | 2.88% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,661 | 3.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,864 | 3.50% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,421 | 2.88% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,450 | 3.25% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,528 | 2.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 1.31% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,383 | 2.88% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,318 | 2.99% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,107 | 3.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,837 | 3.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,758 | 2.99% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,055 | 2.88% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,686 | 3.13% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,294 | 2.75% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,562 | 3.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,577 | 3.25% |
| Waycross, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,448 | 3.25% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,105 | 3.25% |
| Tifton, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,435 | 3.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,424 | 2.99% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,056 | 3.25% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,895 | 2.99% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,161 | 3.25% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,593 | 2.88% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,894 | 2.88% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.99% |
Mortgage Network 's top markets include Boston, Hilton Head Island, Springfield, Portland, and Worcester among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 9,834 | $3,489,680,000 | $354,859 | $3,957 | 2.97% |
| FHA | 630 | $170,850,000 | $271,190 | $9,053 | 3.10% |
| VA | 347 | $118,835,000 | $342,464 | $7,310 | 2.80% |
| USDA | 95 | $19,115,000 | $201,211 | $5,753 | 2.97% |
For the 2021 period, Mortgage Network 's most frequently originated loan type of loans were Conventional, with 9,834 originations. Their 2nd most popular type is FHA, with 630 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 5,747 | $1,992,045,000 | $346,623 | $5,027 | 2.98% |
| Refi | 3,416 | $1,206,650,000 | $353,235 | $3,428 | 2.89% |
| Cash Out Refi | 1,662 | $572,700,000 | $344,585 | $4,161 | 3.11% |
| Other | 72 | $23,760,000 | $330,000 | $3,617 | 3.07% |
| Home Improvement | 9 | $3,325,000 | $369,444 | $3,974 | 3.08% |
For the 2021, Mortgage Network 's most frequently cited loan purpose of loans were Home Purchase, with 5,747 originations. The 2nd most popular reason of loans were Refi, with 3,416 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 9,281 | $3,358,105,000 | $361,826 | $4,580 | 3.04% |
| 15 Year | 974 | $244,510,000 | $251,037 | $3,272 | 2.50% |
| 20 Year | 322 | $108,860,000 | $338,075 | $3,633 | 2.94% |
| Other | 227 | $73,965,000 | $325,837 | $3,376 | 2.99% |
| 10 Year | 101 | $13,035,000 | $129,059 | $1,720 | 1.39% |
| 5 Year | 1 | $5,000 | $5,000 | $0 | 0.00% |
For the 2021, Mortgage Network 's most frequently cited loan length of loans were 30 Year, with 9,281 originations. The 2nd most popular length of loans were 15 Year, with 974 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 8,233 | $2,972,035,000 | $360,991 |
| $2k-3k | 867 | $253,715,000 | $292,636 |
| $3k-4k | 728 | $227,930,000 | $313,091 |
| $<1k | 431 | $115,385,000 | $267,715 |
| $5k+ | 278 | $119,040,000 | $428,201 |
$4,580 of loans were Mortgage Network 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 8,233 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 6,531 | $2,387,685,000 | $365,593 |
| 3-4% | 3,346 | $1,120,660,000 | $334,925 |
| <2.5% | 916 | $259,130,000 | $282,893 |
| 4-5% | 113 | $31,005,000 | $274,381 |
During 2021, Mortgage Network 's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 6,531 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 5,314 | $1,546,610,000 | $291,044 | $4,424 | 3.00% |
| $400k-600k | 2,557 | $1,236,935,000 | $483,745 | $4,496 | 2.97% |
| $100k-200k | 1,903 | $305,115,000 | $160,334 | $3,945 | 3.03% |
| $600k-1MM | 746 | $534,820,000 | $716,917 | $5,194 | 2.97% |
| $100,000 or less | 257 | $12,875,000 | $50,097 | $1,655 | 2.17% |
| $1MM+ | 129 | $162,125,000 | $1,256,783 | $6,765 | 2.91% |
2021 saw Mortgage Network place emphasis on $200k-400k loans with 5,314 originations, totaling $1,546,610,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 2,664 | $949,760,000 | $356,517 | $4,341 | 3.01% |
| $150k-250k | 2,261 | $992,905,000 | $439,144 | $4,225 | 2.97% |
| $50k-75k | 2,032 | $476,690,000 | $234,592 | $4,531 | 2.99% |
| $75k-100k | 1,838 | $536,100,000 | $291,676 | $4,406 | 3.00% |
| $250k+ | 1,125 | $659,435,000 | $586,164 | $4,588 | 2.92% |
| $50k or less | 883 | $149,055,000 | $168,805 | $4,250 | 2.92% |
Mortgage Network lent most frequently to those with incomes in the $100k-150k range, with 2,664 originations. The second most popular income band? $150k-250k, with 2,261 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 2,722 | $974,810,000 | $358,123 | $4,007 | 2.94% |
| 30-36% | 2,040 | $740,480,000 | $362,980 | $4,328 | 2.98% |
| <20% | 1,039 | $368,075,000 | $354,259 | $3,743 | 2.89% |
| 38% | 421 | $149,965,000 | $356,211 | $4,285 | 2.98% |
| 42% | 418 | $145,760,000 | $348,708 | $4,648 | 2.99% |
| 44% | 417 | $125,625,000 | $301,259 | $4,710 | 3.02% |
| 39% | 394 | $139,040,000 | $352,893 | $4,576 | 2.99% |
| 40% | 393 | $128,455,000 | $326,858 | $4,530 | 2.97% |
| 41% | 387 | $135,555,000 | $350,271 | $4,563 | 3.02% |
| 43% | 386 | $120,180,000 | $311,347 | $4,501 | 3.04% |
| 37% | 383 | $138,275,000 | $361,031 | $4,492 | 3.00% |
| 36% | 356 | $127,710,000 | $358,736 | $4,421 | 3.01% |
| 45% | 330 | $106,830,000 | $323,727 | $4,531 | 3.06% |
| 47% | 253 | $79,855,000 | $315,632 | $4,702 | 3.01% |
| 46% | 243 | $82,665,000 | $340,185 | $4,849 | 3.07% |
| 49% | 228 | $75,300,000 | $330,263 | $5,040 | 3.05% |
| 48% | 221 | $71,525,000 | $323,643 | $4,867 | 3.00% |
| 50-60% | 191 | $59,915,000 | $313,691 | $8,429 | 3.04% |
| >60% | 2 | $1,430,000 | $715,000 | $18,108 | 2.75% |
Mortgage Network lent most frequently to those with DTI ratios of 20-30%, with 2,722 originations. The next most common DTI ratio? 30-36%, with 2,040 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 7,172 | $2,485,470,000 | $346,552 | $4,344 | 2.98% |
| Not provided | 3,073 | $1,108,495,000 | $360,721 | $4,349 | 2.96% |
| Asian | 416 | $135,750,000 | $326,322 | $4,746 | 2.98% |
| Black | 231 | $62,995,000 | $272,706 | $5,318 | 2.95% |
| Asian Indian | 4 | $1,820,000 | $455,000 | $3,893 | 2.81% |
| American Indian | 5 | $1,505,000 | $301,000 | $5,040 | 3.17% |
| Chinese | 2 | $1,210,000 | $605,000 | $4,507 | 3.38% |
| Native Hawaiian | 2 | $790,000 | $395,000 | $3,330 | 3.56% |
| Other Asian | 1 | $445,000 | $445,000 | $5,783 | 2.99% |
Approval Rates
Total approvals of all applications94.16%
Mortgage Network has an average approval rate.
Pick Rate
Approvals leading to origination86.83%
Mortgage Network has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10,906 | $3,798,480,000 | $348,293 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10,906 | $3,798,480,000 | $348,293 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 584 | $154,130,000 | $263,921 | $3,297 | 2.83% |
| 40-60% | 1,911 | $662,725,000 | $346,795 | $3,452 | 2.87% |
| 60-80% | 4,279 | $1,603,665,000 | $374,776 | $4,044 | 3.05% |
| 80-100% | 3,896 | $1,341,360,000 | $344,292 | $5,304 | 3.03% |
| Over 100% | 78 | $26,720,000 | $342,564 | $12,718 | 2.92% |
| Under 20% | 156 | $9,040,000 | $57,949 | $745 | 1.42% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE CENTER, LC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |
