Manufacturers Bank & Trust Company Mortgage Rates, Fees & Info

Forest City, IA

LEI: 254900U7G0LJ4QNSFC86

Tax ID: 42-0627479

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Manufacturers Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Manufacturers Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Mason City, Austin, Albert Lea, and Minneapolis among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Manufacturers Bank & Trust Company 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. Manufacturers Bank & Trust Company is typically a low 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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Originations

263

Origination Dollar Volume (All Markets)

$46,945,000

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
Outside of Metro Areas	88	$12,950,000	$147,159	$3,320	4.75%
ROCHESTER, MN (FHA\|USDA\|VA)	58	$11,880,000	$204,828	$3,768	4.59%
Mason City, IA (FHA\|USDA\|VA)	30	$6,340,000	$211,333	$3,336	5.07%
Austin, MN (FHA\|USDA\|VA)	36	$5,190,000	$144,167	$2,808	4.45%
Albert Lea, MN (FHA\|USDA\|VA)	23	$3,175,000	$138,043	$3,555	5.35%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	2	$2,680,000	$1,340,000	$0	5.25%
Owatonna, MN (FHA\|USDA\|VA)	12	$1,990,000	$165,833	$3,041	4.76%
Spirit Lake, IA (FHA\|USDA\|VA)	4	$1,350,000	$337,500	$3,759	4.53%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	2	$400,000	$200,000	$3,893	5.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$345,000	$345,000	$0	3.50%
Winona, MN (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	5.00%
ROCKFORD, IL (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	5.00%
MANKATO, MN (FHA\|USDA\|VA)	1	$105,000	$105,000	$1,560	4.75%
Rochelle, IL (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.50%
Grand Rapids, MN (FHA\|USDA\|VA)	1	$75,000	$75,000	$962	6.21%
Spencer, IA (FHA\|USDA\|VA)	1	$65,000	$65,000	$2,121	5.13%
Red Wing, MN (FHA\|USDA\|VA)	1	$25,000	$25,000	$298	6.59%

Manufacturers Bank & Trust Company's top markets include Rochester, Mason City, Austin, Albert Lea, and Minneapolis among others.

Their top states include:

Minnesota (FHA|USDA|VA)

Iowa (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Wisconsin (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Manufacturers Bank & Trust Company 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

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	263	$46,945,000	$178,498	$3,320	4.78%

For 2022, Manufacturers Bank & Trust Company's most frequently originated type of loan was Conventional, with 263 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	146	$28,270,000	$193,630	$3,981	4.94%
Refi	46	$9,340,000	$203,043	$3,459	4.28%
Cash Out Refi	38	$6,270,000	$165,000	$2,919	4.22%
Home Improvement	22	$2,020,000	$91,818	$1,272	5.11%
Other	10	$1,020,000	$102,000	$1,235	6.00%
NA	1	$25,000	$25,000	$491	6.25%

For 2022, Manufacturers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 146 originations. The 2nd most popular reason was Refi, with 46 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	67	$13,395,000	$199,925	$4,541	5.07%
15 Year	56	$7,920,000	$141,429	$2,127	4.55%
20 Year	37	$8,445,000	$228,243	$3,200	4.59%
Other	34	$5,220,000	$153,529	$3,085	4.44%
10 Year	31	$4,845,000	$156,290	$2,786	4.87%
5 Year	24	$5,100,000	$212,500	$0	4.67%
1 Year	12	$1,550,000	$129,167	$1,387	5.77%
30+ year	1	$405,000	$405,000	$7,526	3.95%
3 Year	1	$65,000	$65,000	$0	6.00%

For 2022, Manufacturers Bank & Trust Company's most frequently cited loan duration was 30 Year, with 67 originations. The 2nd most popular length was 15 Year, with 56 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	51	$4,155,000	$81,471
$1k-2k	44	$5,600,000	$127,273
$2k-3k	28	$6,470,000	$231,071
$3k-4k	14	$3,850,000	$275,000
$4k-5k	10	$3,780,000	$378,000
$5k+	9	$3,395,000	$377,222

Manufacturers Bank & Trust Company's average total fees were $4,541, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 51 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	73	$13,705,000	$187,740
4-5%	71	$11,895,000	$167,535
3-4%	66	$13,550,000	$205,303
6-7%	27	$3,855,000	$142,778
2.5-3%	12	$2,080,000	$173,333
7-8%	8	$970,000	$121,250
<2.5%	6	$890,000	$148,333

During 2022, Manufacturers Bank & Trust Company's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 73 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	106	$6,650,000	$62,736	$1,715	4.96%
$100k-200k	79	$11,025,000	$139,557	$2,891	4.69%
$200k-400k	56	$15,550,000	$277,679	$5,243	4.62%
$400k-600k	17	$8,315,000	$489,118	$6,137	4.64%
$600k-1MM	4	$3,000,000	$750,000	$6,350	4.39%
$1MM+	1	$2,405,000	$2,405,000	$0	6.00%

2022 saw Manufacturers Bank & Trust Company place emphasis on $100,000 or less loans with 106 originations, totaling $6,650,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	42	$3,770,000	$89,762	$2,474	4.85%
$100k-150k	41	$7,535,000	$183,780	$3,884	5.26%
$50k-75k	36	$4,600,000	$127,778	$2,861	4.91%
$150k-250k	33	$7,215,000	$218,636	$4,564	4.09%
$75k-100k	27	$3,645,000	$135,000	$3,106	5.11%
$250k+	20	$5,720,000	$286,000	$4,507	4.54%

Manufacturers Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $100k-150k, with 41 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	44	$6,750,000	$153,409	$3,128	4.62%
30-36%	39	$6,145,000	$157,564	$3,444	4.99%
<20%	22	$3,130,000	$142,273	$2,851	4.85%
37%	12	$1,790,000	$149,167	$3,186	5.31%
42%	8	$1,680,000	$210,000	$3,699	4.86%
36%	6	$1,600,000	$266,667	$4,269	4.96%
39%	6	$760,000	$126,667	$2,797	5.22%
38%	6	$1,300,000	$216,667	$3,656	3.82%
44%	5	$625,000	$125,000	$2,634	5.77%
43%	5	$1,075,000	$215,000	$4,347	5.58%
41%	4	$790,000	$197,500	$4,192	5.61%
40%	3	$215,000	$71,667	$1,790	5.73%
46%	3	$445,000	$148,333	$3,277	3.58%
47%	3	$545,000	$181,667	$3,503	4.67%
45%	2	$680,000	$340,000	$3,952	6.00%
>60%	1	$125,000	$125,000	$0	5.25%
48%	1	$515,000	$515,000	$4,598	3.75%
49%	1	$375,000	$375,000	$4,025	7.13%

Manufacturers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 39 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	199	$32,105,000	$161,332	$3,299	4.85%
Not applicable	52	$12,580,000	$241,923	$0	4.50%
Asian	5	$1,505,000	$301,000	$4,937	3.78%
Not provided	6	$670,000	$111,667	$2,958	5.64%
Other Asian	1	$85,000	$85,000	$0	5.25%

Approval Rates

Total approvals of all applications
95.21%

Manufacturers Bank & Trust Company 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
94.30%

Manufacturers Bank & Trust Company has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	263	$46,945,000	$178,498

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	263	$46,945,000	$178,498

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	29	$2,905,000	$100,172	$1,337	4.80%
40-60%	45	$6,755,000	$150,111	$2,296	4.72%
60-80%	112	$26,380,000	$235,536	$4,193	4.60%
80-100%	51	$9,165,000	$179,706	$3,830	4.90%
Over 100%	1	$245,000	$245,000	$0	5.00%
Under 20%	25	$1,495,000	$59,800	$905	5.43%