Massmutual Mortgage Rates, Fees & Info

Springfield, MA

LEI: 549300217ZPIHWEYT887

Tax ID: 04-6051174

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

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Mortgage Data

Review & Overview

Massmutual is a smaller mortgage company specializing in Refi and Home Purchase loans. Massmutual has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Hartford, Boston, Providence, and North Port among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Massmutual 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

139

Origination Dollar Volume (All Markets)

$16,905,000

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
SPRINGFIELD, MA (FHA|USDA|VA) 78 $9,110,000 $116,795 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 18 $1,740,000 $96,667 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 6 $850,000 $141,667 $0 0.00%
Outside of Metro Areas 1 $735,000 $735,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $465,000 $155,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $445,000 $148,333 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 6 $400,000 $66,667 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Torrington, CT (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Rutland, VT (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $100,000 $50,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Massmutual's top markets include Springfield, Hartford, Boston, Providence, and North Port among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 139 $16,905,000 $121,619 $0 0.00%

    For 2022, Massmutual's most frequently originated type of loan was Conventional, with 139 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 115 $11,015,000 $95,783 $0 0.00%
    Home Purchase 19 $5,085,000 $267,632 $0 0.00%
    Cash Out Refi 3 $485,000 $161,667 $0 0.00%
    Home Improvement 1 $205,000 $205,000 $0 0.00%
    Other 1 $115,000 $115,000 $0 0.00%

    For 2022, Massmutual's most frequently cited loan purpose was Refi, with 115 originations. The 2nd most popular reason was Home Purchase, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 139 $16,905,000 $121,619 $0 0.00%

    For 2022, Massmutual's most frequently cited loan duration was Other, with 139 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $4,190,000 $56,622 $0 0.00%
    $100k-200k 39 $5,485,000 $140,641 $0 0.00%
    $200k-400k 23 $5,675,000 $246,739 $0 0.00%
    $400k-600k 2 $820,000 $410,000 $0 0.00%
    $600k-1MM 1 $735,000 $735,000 $0 0.00%

    2022 saw Massmutual place emphasis on $100,000 or less loans with 74 originations, totaling $4,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $4,970,000 $112,955 $0 0.00%
    $150k-250k 26 $4,580,000 $176,154 $0 0.00%
    $50k-75k 26 $2,510,000 $96,538 $0 0.00%
    $75k-100k 25 $2,525,000 $101,000 $0 0.00%
    $250k+ 9 $1,545,000 $171,667 $0 0.00%
    $50k or less 9 $775,000 $86,111 $0 0.00%

    Massmutual lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $150k-250k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 139 $16,905,000 $121,619 $0 0.00%

    Massmutual lent most frequently to those with DTI ratios of Exempt%, with 139 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 116 $10,990,000 $94,741 $0 0.00%
    White 20 $4,530,000 $226,500 $0 0.00%
    Black 2 $1,020,000 $510,000 $0 0.00%
    American Indian 1 $365,000 $365,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.38%

    Massmutual has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.56%

    Massmutual 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 139 $16,905,000 $121,619

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    139 $16,905,000 $121,619