Midwest Regional Bank Mortgage Rates, Fees & Info
Festus, MOLEI: 5493000QW05CG8MJX447
Tax ID: 44-0162290
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Mortgage Data
Review & Overview
Midwest Regional Bank is a smaller bank specializing in Home Purchase loans. Midwest Regional Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Breckenridge, Columbia, Sedalia, and Warrensburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Midwest Regional Bank 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.
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Originations
25Origination Dollar Volume (All Markets)
$4,705,000Top 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 13 | $2,785,000 | $214,231 | $0 | 0.00% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $0 | 0.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 4 | $460,000 | $115,000 | $0 | 0.00% |
| Sedalia, MO (FHA|USDA|VA) | 4 | $180,000 | $45,000 | $0 | 0.00% |
| Warrensburg, MO (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $4,705,000 | $188,200 | $0 | 0.00% |
For 2023, Midwest Regional Bank's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 17 | $4,165,000 | $245,000 | $0 | 0.00% |
| Home Improvement | 4 | $280,000 | $70,000 | $0 | 0.00% |
| Refi | 4 | $260,000 | $65,000 | $0 | 0.00% |
For 2023, Midwest Regional Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Home Improvement, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 25 | $4,705,000 | $188,200 | $0 | 0.00% |
For 2023, Midwest Regional Bank's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
2023 saw Midwest Regional Bank place emphasis on $100k-200k loans with 11 originations, totaling $1,685,000 in origination value.
Applicant Income
Midwest Regional Bank lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $75k-100k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 25 | $4,705,000 | $188,200 | $0 | 0.00% |
Midwest Regional Bank lent most frequently to those with DTI ratios of Exempt%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 13 | $3,715,000 | $285,769 | $0 | 0.00% |
| White | 11 | $925,000 | $84,091 | $0 | 0.00% |
| Black | 1 | $65,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.67%
Midwest Regional Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.00%
Midwest Regional Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 25 | $4,705,000 | $188,200 |