Mortgage Network Rates, Fees & Info

DANVERS, MA

LEI: 254900A69XJBWUR7ZF46

Tax ID: 04-2992161

5 stars - out of 5 stars, based on 104 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Boston, Hilton Head Island, Springfield, Portland, and Worcester among others. We have data for 122 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage Network has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Mortgage Network is typically an average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.78% 11/26/22
    30 Year Conventional Refi 6.77% 11/26/22
    30 Year Cash-out Refi 6.92% 11/26/22
    30 Year FHA Purchase 7.92% 11/26/22
    30 Year FHA Refi 7.67% 11/26/22
    30 Year VA Purchase 6.69% 11/26/22
    30 Year VA Refi 6.40% 11/26/22
    30 Year USDA Purchase 7.14% 11/26/22
    30 Year USDA Refi 6.88% 11/26/22
    15 Year Conventional Purchase 6.01% 11/26/22
    15 Year Conventional Refi 6.23% 11/26/22
    15 Year Cash-out Refi 6.23% 11/26/22
    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.


    Originations

    10,906

    Origination Dollar Volume (All Markets)

    $3,798,480,000
    Show all (15) awards

    Relative Rate

    Mortgage Network's average 30 year fixed mortgage rate was 3.04%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.11%.

    Relative Fees (Closing Costs)

    Mortgage Network's average total fees/closing costs for a 30 year fixed rate mortgage were $4,580.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top 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
    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.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Mortgage Network based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POINT BREEZE
    Similarity Rank: 63
    SOMERSET
    Similarity Rank: 87
    INFINITY Federal Credit Union
    Similarity Rank: 136
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    Middlesex Savings Bank
    Similarity Rank: 174
    POLISH NATIONAL
    Similarity Rank: 192
    Sharon & Crescent United Credit Union
    Similarity Rank: 205
    Adams Community Bank
    Similarity Rank: 208
    GREYLOCK
    Similarity Rank: 210
    CASCO
    Similarity Rank: 226

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mortgage Network's most frequently originated type of loan was Conventional, with 9,834 originations. Their 2nd most popular type was FHA, with 630 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mortgage Network's most frequently cited loan purpose was Home Purchase, with 5,747 originations. The 2nd most popular reason was 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 2021, Mortgage Network's most frequently cited loan duration was 30 Year, with 9,281 originations. The 2nd most popular length was 15 Year, with 974 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 462 $133,500,000 $288,961
    $<1k 431 $115,385,000 $267,715
    $5k+ 278 $119,040,000 $428,201
    $4k-5k 266 $94,430,000 $355,000

    Mortgage Network's average total fees were $4,580, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.04%, while their most frequently originated rate bucket for loans was 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 or Islander 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 applications
    95.30%

    Mortgage Network 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
    90.39%

    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%