Ml Mortgage Corp. Rates, Fees & Info

Rancho Cucamonga, CA

LEI: 254900JH11ROOV921P96

Tax ID: 20-8922230

2.3 stars - out of 5 stars, based on 39 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ml Mortgage Corp. is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Ml Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Riverside, Los Angeles, Las Vegas, San Diego, and Phoenix among others. Ml Mortgage 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. Ml Mortgage Corp. is typically a high fee lendor.


Originations

1,557

Origination Dollar Volume (All Markets)

$562,315,000

Awards

ML Mortgage Corp. 30 Year Conventional Loans bronze ML Mortgage Corp. VA Loans gold
Show all (2) awards

Relative Rate

Ml Mortgage Corp.'s average 30 year fixed rate mortgage of loans were 3.12%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.03%.

Relative Fees

Ml Mortgage Corp.'s average total fees for a 30 year fixed rate mortgage are $7,497.

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
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 770 $279,590,000 $363,104 $7,573 3.05%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 271 $124,855,000 $460,720 $8,314 3.05%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 180 $49,620,000 $275,667 $6,151 3.19%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 68 $28,820,000 $423,824 $7,265 2.71%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 79 $21,385,000 $270,696 $6,341 3.32%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 30 $7,690,000 $256,333 $7,114 3.15%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $6,085,000 $357,941 $8,088 3.35%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 14 $4,560,000 $325,714 $5,519 3.24%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,295,000 $477,222 $8,991 2.92%
VALLEJO, CA (FHA|USDA|VA) 8 $3,290,000 $411,250 $9,960 3.06%
BAKERSFIELD, CA (FHA|USDA|VA) 12 $3,260,000 $271,667 $8,440 3.20%
NAPA, CA (FHA|USDA|VA) 7 $2,955,000 $422,143 $7,857 2.88%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $2,700,000 $675,000 $7,691 3.31%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $2,545,000 $363,571 $7,209 3.07%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 18 $2,380,000 $132,222 $4,176 3.57%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 7 $2,195,000 $313,571 $5,733 3.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,400,000 $350,000 $5,756 2.91%
FRESNO, CA (FHA|USDA|VA) 4 $1,220,000 $305,000 $6,921 3.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $955,000 $318,333 $8,776 3.46%
STOCKTON, CA (FHA|USDA|VA) 4 $950,000 $237,500 $5,309 3.44%
Outside of Metro Areas 4 $910,000 $227,500 $5,895 3.28%
RENO, NV (FHA|USDA|VA) 2 $750,000 $375,000 $7,153 3.81%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $740,000 $370,000 $10,635 3.81%
Kerrville, TX (FHA|USDA|VA) 1 $685,000 $685,000 $9,021 3.13%
EL CENTRO, CA (FHA|USDA|VA) 2 $610,000 $305,000 $3,527 2.69%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $560,000 $280,000 $3,763 3.19%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $560,000 $280,000 $7,504 2.88%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $540,000 $270,000 $6,770 2.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $540,000 $270,000 $9,940 3.38%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $525,000 $525,000 $4,734 3.38%
Nogales, AZ (FHA|USDA|VA) 2 $470,000 $235,000 $4,035 3.31%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $415,000 $415,000 $5,133 3.38%
Centralia, WA (FHA|USDA|VA) 1 $385,000 $385,000 $4,545 2.75%
PUEBLO, CO (FHA|USDA|VA) 1 $365,000 $365,000 $9,861 3.25%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $345,000 $345,000 $5,741 3.38%
MODESTO, CA (FHA|USDA|VA) 2 $340,000 $170,000 $4,560 2.88%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $4,139 2.75%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $9,136 2.88%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $5,439 2.50%
Moses Lake, WA (FHA|USDA|VA) 1 $275,000 $275,000 $5,211 3.00%
MADERA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $6,892 3.13%
Sonora, CA (FHA|USDA|VA) 1 $245,000 $245,000 $6,340 2.88%
OCALA, FL (FHA|USDA|VA) 2 $240,000 $120,000 $3,989 3.44%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,247 2.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $165,000 $165,000 $5,712 2.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,863 3.75%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $155,000 $155,000 $6,312 3.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $155,000 $155,000 $4,985 3.00%

Ml Mortgage Corp.'s top markets include Riverside, Los Angeles, Las Vegas, San Diego, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,170 $413,660,000 $353,556 $6,101 3.13%
FHA 307 $112,365,000 $366,010 $11,871 3.01%
VA 80 $36,290,000 $453,625 $8,803 2.80%

For the 2021 period, Ml Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 1,170 originations. Their 2nd most popular type is FHA, with 307 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 634 $245,890,000 $387,839 $8,605 3.15%
Refi 518 $180,010,000 $347,510 $6,184 2.91%
Cash Out Refi 403 $135,755,000 $336,861 $6,946 3.23%
Home Improvement 1 $405,000 $405,000 $11,119 3.25%
Other 1 $255,000 $255,000 $0 2.38%

For the 2021, Ml Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 634 originations. The 2nd most popular reason of loans were Refi, with 518 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,459 $533,555,000 $365,699 $7,497 3.12%
15 Year 63 $18,545,000 $294,365 $5,710 2.49%
20 Year 23 $6,485,000 $281,957 $5,227 2.73%
Other 9 $3,285,000 $365,000 $4,871 2.86%
10 Year 3 $445,000 $148,333 $3,663 2.46%

For the 2021, Ml Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 1,459 originations. The 2nd most popular length of loans were 15 Year, with 63 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 529 $193,145,000 $365,113
$3k-4k 338 $115,300,000 $341,124
$5k+ 297 $123,935,000 $417,290
$2k-3k 243 $74,385,000 $306,111
$<1k 148 $55,010,000 $371,689

$7,497 of loans were Ml Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 529 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 776 $281,880,000 $363,247
2.5-3% 572 $210,210,000 $367,500
<2.5% 170 $59,320,000 $348,941
4-5% 37 $10,335,000 $279,324
5-6% 1 $305,000 $305,000
Over 8% 1 $265,000 $265,000

During 2021, Ml Mortgage Corp.'s average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were 3-4%, with 776 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 814 $245,010,000 $300,995 $6,900 3.10%
$400k-600k 491 $236,765,000 $482,210 $8,211 3.04%
$100k-200k 158 $24,790,000 $156,899 $4,962 3.20%
$600k-1MM 70 $49,540,000 $707,714 $13,185 3.14%
$100,000 or less 20 $1,170,000 $58,500 $2,881 2.41%
$1MM+ 4 $5,040,000 $1,260,000 $15,946 3.03%

2021 saw Ml Mortgage Corp. place emphasis on $200k-400k loans with 814 originations, totaling $245,010,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 373 $156,225,000 $418,834 $7,807 3.09%
$50k-75k 373 $108,355,000 $290,496 $7,101 3.08%
$75k-100k 348 $127,560,000 $366,552 $7,680 3.10%
$150k-250k 174 $79,830,000 $458,793 $7,611 3.16%
$50k or less 152 $31,160,000 $205,000 $5,939 3.14%
$250k+ 64 $31,990,000 $499,844 $8,338 3.23%

Ml Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 373 originations. The second most popular income band? $50k-75k, with 373 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 197 $69,475,000 $352,665 $6,666 3.05%
20-30% 159 $50,965,000 $320,535 $6,071 3.01%
50-60% 137 $53,965,000 $393,905 $11,978 3.06%
44% 108 $39,470,000 $365,463 $6,937 3.12%
<20% 94 $34,590,000 $367,979 $6,468 2.74%
43% 94 $35,910,000 $382,021 $7,233 3.17%
49% 93 $35,555,000 $382,312 $7,725 3.06%
42% 73 $25,915,000 $355,000 $6,473 3.16%
38% 71 $23,765,000 $334,718 $6,401 3.26%
48% 69 $24,105,000 $349,348 $6,691 3.14%
47% 68 $25,250,000 $371,324 $9,177 3.06%
41% 67 $26,585,000 $396,791 $7,574 3.25%
45% 65 $23,345,000 $359,154 $6,890 3.15%
40% 56 $19,840,000 $354,286 $6,425 3.04%
36% 51 $17,175,000 $336,765 $6,361 3.23%
39% 51 $18,745,000 $367,549 $7,226 3.13%
46% 49 $18,115,000 $369,694 $7,681 3.08%
37% 44 $14,420,000 $327,727 $5,942 3.29%
>60% 4 $2,750,000 $687,500 $22,640 3.00%

Ml Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 197 originations. The next most common DTI ratio? 20-30%, with 159 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,203 $423,205,000 $351,791 $7,264 3.09%
Asian 151 $64,565,000 $427,583 $6,992 3.03%
Black 128 $46,100,000 $360,156 $8,777 3.07%
Not provided 59 $22,335,000 $378,559 $7,487 3.15%
American Indian 13 $5,095,000 $391,923 $7,721 2.92%
Native Hawaiian 3 $1,015,000 $338,333 $5,555 3.17%

Approval Rates

Total approvals of all applications
98.77%

Ml Mortgage 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
84.64%

Ml Mortgage Corp. has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,557 $562,315,000 $361,153

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,557 $562,315,000 $361,153

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 72 $15,610,000 $216,806 $4,549 2.93%
40-60% 236 $73,690,000 $312,246 $5,854 2.98%
60-80% 632 $236,270,000 $373,845 $6,753 3.17%
80-100% 594 $230,000,000 $387,205 $8,857 3.10%
Over 100% 9 $4,695,000 $521,667 $19,724 3.19%
Under 20% 9 $375,000 $41,667 $1,962 0.75%