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, Sedalia, Savannah, Miami, and Columbia among others. We have data for 9 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 an above average pick rate when compared to similar lenders.
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Originations
81Origination Dollar Volume (All Markets)
$22,895,000Top 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) | 44 | $19,190,000 | $436,136 | $0 | 0.00% |
| Sedalia, MO (FHA|USDA|VA) | 15 | $1,345,000 | $89,667 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $825,000 | $91,667 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 7 | $305,000 | $43,571 | $0 | 0.00% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 81 | $22,895,000 | $282,654 | $0 | 0.00% |
For 2018, Midwest Regional Bank's most frequently originated type of loan was Conventional, with 81 originations.
Loan Reason
For 2018, Midwest Regional Bank's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 81 | $22,895,000 | $282,654 | $0 | 0.00% |
For 2018, Midwest Regional Bank's most frequently cited loan duration was Other, with 81 originations.
Loan Sizing
2018 saw Midwest Regional Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,765,000 in origination value.
Applicant Income
Midwest Regional Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 81 | $22,895,000 | $282,654 | $0 | 0.00% |
Midwest Regional Bank lent most frequently to those with DTI ratios of Exempt%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.80%
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 origination98.77%
Midwest Regional Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 81 | $22,895,000 | $282,654 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Midwest Loan Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| Midwest Loan Services, Inc. | FHA mortgage | Trouble during payment process | 1 | 33.3% |