Member One Mortgage Rates, Fees & Info

Roanoke, VA

LEI: 5493001VM8PTR1KD2A32

Tax ID: 54-0526784

5 stars - out of 5 stars, based on 32 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Member One is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Member One has a high proportion of conventional loans. Their top markets include Roanoke, Lynchburg, Atlanta, Blacksburg, and Martinsville among others. Member One has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Member One is typically an average fee lendor.


Originations

1,030

Origination Dollar Volume (All Markets)

$129,790,000

Awards

MEMBER ONE 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Member One's average 30 year fixed rate mortgage of loans were 3.13%.

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

This yields a difference of -0.02%.

Relative Fees

Member One's average total fees for a 30 year fixed rate mortgage are $4,550.

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
ROANOKE, VA (FHA|USDA|VA) 573 $62,175,000 $108,508 $1,638 3.52%
Outside of Metro Areas 162 $31,400,000 $193,827 $4,085 3.45%
LYNCHBURG, VA (FHA|USDA|VA) 136 $13,340,000 $98,088 $919 3.52%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 19 $9,975,000 $525,000 $6,777 2.87%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 76 $7,290,000 $95,921 $1,279 3.36%
Martinsville, VA (FHA|USDA|VA) 30 $1,890,000 $63,000 $5,961 4.08%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $805,000 $805,000 $2,656 2.63%
Danville, VA (FHA|USDA|VA) 12 $560,000 $46,667 $0 4.25%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $530,000 $265,000 $0 4.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $325,000 $108,333 $1,246 3.58%
Calhoun, GA (FHA|USDA|VA) 1 $285,000 $285,000 $6,713 2.88%
STAUNTON, VA (FHA|USDA|VA) 2 $250,000 $125,000 $2,504 3.69%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $180,000 $90,000 $0 3.44%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $175,000 $58,333 $0 4.00%
RICHMOND, VA (FHA|USDA|VA) 2 $160,000 $80,000 $0 3.37%
Vidalia, GA (FHA|USDA|VA) 1 $135,000 $135,000 $5,946 3.50%
HARRISONBURG, VA (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.99%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.99%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.49%
Washington, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.75%

Member One's top markets include Roanoke, Lynchburg, Atlanta, Blacksburg, and Martinsville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,030 $129,790,000 $126,010 $2,110 3.51%

For the 2021 period, Member One's most frequently originated loan type of loans were Conventional, with 1,030 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 295 $18,145,000 $61,508 $0 3.49%
Refi 237 $29,645,000 $125,084 $1,575 3.53%
Home Purchase 195 $46,155,000 $236,692 $4,706 3.27%
Cash Out Refi 177 $28,905,000 $163,305 $3,798 3.74%
Other 125 $6,875,000 $55,000 $6 3.58%
NA 1 $65,000 $65,000 $0 4.00%

For the 2021, Member One's most frequently cited loan purpose of loans were Home Improvement, with 295 originations. The 2nd most popular reason of loans were Refi, with 237 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 596 $48,800,000 $81,879 $505 3.54%
30 Year 249 $61,945,000 $248,775 $4,550 3.13%
20 Year 132 $13,510,000 $102,348 $869 3.76%
5 Year 31 $2,955,000 $95,323 $0 4.49%
10 Year 19 $1,985,000 $104,474 $986 4.22%
Other 3 $595,000 $198,333 $2,865 3.42%

For the 2021, Member One's most frequently cited loan length of loans were 15 Year, with 596 originations. The 2nd most popular length of loans were 30 Year, with 249 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 612 $82,690,000 $135,114
$1k-2k 42 $9,540,000 $227,143
$3k-4k 1 $575,000 $575,000

$4,550 of loans were Member One's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 612 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 577 $57,065,000 $98,899
2.5-3% 336 $60,050,000 $178,720
4-5% 92 $9,870,000 $107,283
<2.5% 13 $2,045,000 $157,308
5-6% 12 $760,000 $63,333

During 2021, Member One's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 577 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 567 $29,005,000 $51,155 $291 3.70%
$100k-200k 278 $39,610,000 $142,482 $2,893 3.38%
$200k-400k 148 $38,860,000 $262,568 $4,416 3.16%
$400k-600k 24 $11,700,000 $487,500 $7,348 3.13%
$600k-1MM 10 $7,440,000 $744,000 $8,242 2.90%
$1MM+ 3 $3,175,000 $1,058,333 $9,463 2.67%

2021 saw Member One place emphasis on $100,000 or less loans with 567 originations, totaling $29,005,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 215 $29,335,000 $136,442 $2,105 3.37%
$50k-75k 205 $22,365,000 $109,098 $2,107 3.38%
$50k or less 171 $14,405,000 $84,240 $1,703 3.45%
$75k-100k 153 $17,305,000 $113,105 $1,838 3.41%
$150k-250k 92 $16,490,000 $179,239 $2,956 3.26%
$250k+ 34 $12,440,000 $365,882 $5,247 3.19%

Member One lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $50k-75k, with 205 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 271 $35,095,000 $129,502 $2,379 3.37%
30-36% 197 $24,185,000 $122,766 $1,850 3.42%
<20% 139 $17,935,000 $129,029 $1,875 3.26%
42% 46 $3,940,000 $85,652 $441 3.41%
37% 39 $5,635,000 $144,487 $1,897 3.35%
38% 35 $5,065,000 $144,714 $2,775 3.49%
41% 31 $3,875,000 $125,000 $1,877 3.44%
39% 31 $4,685,000 $151,129 $2,855 3.31%
40% 29 $2,975,000 $102,586 $1,406 3.53%
36% 27 $4,195,000 $155,370 $3,253 3.27%
>60% 9 $1,395,000 $155,000 $3,561 3.47%
43% 8 $1,250,000 $156,250 $1,961 3.46%
48% 3 $355,000 $118,333 $1,683 3.38%
50-60% 3 $315,000 $105,000 $2,375 2.87%
44% 2 $380,000 $190,000 $3,791 3.06%
45% 2 $220,000 $110,000 $2,916 2.87%
46% 2 $440,000 $220,000 $2,830 3.13%

Member One lent most frequently to those with DTI ratios of 20-30%, with 271 originations. The next most common DTI ratio? 30-36%, with 197 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 791 $100,265,000 $126,757 $2,022 3.38%
Not applicable 147 $16,545,000 $112,551 $0 4.31%
Not provided 42 $8,690,000 $206,905 $4,385 3.16%
Black 46 $3,730,000 $81,087 $1,430 3.52%
Asian 2 $290,000 $145,000 $4,567 3.31%
Asian Indian 1 $215,000 $215,000 $3,194 3.25%
American Indian 1 $55,000 $55,000 $0 3.99%

Approval Rates

Total approvals of all applications
70.53%

Member One has a below average approval rate.

Pick Rate

Approvals leading to origination
87.30%

Member One has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,030 $129,790,000 $126,010

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,030 $129,790,000 $126,010

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 203 $15,415,000 $75,936 $169 3.53%
40-60% 97 $13,185,000 $135,928 $2,217 3.23%
60-80% 196 $31,260,000 $159,490 $3,382 3.68%
80-100% 265 $57,325,000 $216,321 $4,235 3.35%
Over 100% 4 $880,000 $220,000 $4,291 3.50%
Under 20% 251 $10,275,000 $40,936 $3 3.58%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Incorrect information on your report 1 33.3%
MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Trouble during payment process 1 33.3%