Standard Mortgage Corporation Rates, Fees & Info

BATON ROUGE, LA

LEI: 5493002F9OWLKRICTY67

Tax ID: 72-0593959

5 stars - out of 5 stars, based on 44 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Standard Mortgage Corporation is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Standard Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include New Orleans, Shreveport, Lafayette, Baton Rouge, and Alexandria among others. Standard Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Standard Mortgage Corporation is typically an average fee lendor.


Originations

1,973

Origination Dollar Volume (All Markets)

$420,635,000
Show all (26) awards

Relative Rate

Standard Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.87%.

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

This yields a difference of -0.28%.

Relative Fees

Standard Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,129.

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
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 667 $147,295,000 $220,832 $3,615 2.77%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 266 $57,270,000 $215,301 $3,658 2.66%
LAFAYETTE, LA (FHA|USDA|VA) 255 $54,685,000 $214,451 $4,137 2.75%
BATON ROUGE, LA (FHA|USDA|VA) 215 $41,875,000 $194,767 $4,406 2.76%
ALEXANDRIA, LA (FHA|USDA|VA) 109 $22,985,000 $210,872 $3,920 2.70%
MONROE, LA (FHA|USDA|VA) 76 $14,850,000 $195,395 $3,253 2.69%
Outside of Metro Areas 70 $13,610,000 $194,429 $3,462 2.72%
HAMMOND, LA (FHA|USDA|VA) 37 $7,335,000 $198,243 $3,537 2.76%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 35 $6,995,000 $199,857 $4,003 2.80%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 18 $5,470,000 $303,889 $4,537 2.60%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 20 $4,960,000 $248,000 $4,235 2.66%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 22 $4,550,000 $206,818 $3,130 2.85%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 11 $3,155,000 $286,818 $4,418 2.77%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 16 $3,120,000 $195,000 $3,163 2.63%
Opelousas, LA (FHA|USDA|VA) 14 $2,770,000 $197,857 $3,763 2.73%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 10 $2,420,000 $242,000 $5,306 2.68%
COLORADO SPRINGS, CO (FHA|USDA|VA) 8 $2,070,000 $258,750 $2,545 2.69%
Ruston, LA (FHA|USDA|VA) 9 $1,855,000 $206,111 $3,683 2.68%
Bogalusa, LA (FHA|USDA|VA) 9 $1,395,000 $155,000 $2,896 2.88%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,169 2.91%
Picayune, MS (FHA|USDA|VA) 8 $1,140,000 $142,500 $3,240 2.84%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,075,000 $215,000 $3,041 2.68%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 6 $1,040,000 $173,333 $4,080 2.44%
LONGVIEW, TX (FHA|USDA|VA) 7 $985,000 $140,714 $3,417 2.64%
ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $915,000 $183,000 $2,196 2.68%
Morgan City, LA (FHA|USDA|VA) 3 $835,000 $278,333 $2,993 2.75%
LAKE CHARLES, LA (FHA|USDA|VA) 6 $830,000 $138,333 $3,610 2.83%
Natchitoches, LA (FHA|USDA|VA) 3 $805,000 $268,333 $4,191 2.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $795,000 $265,000 $2,683 2.63%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 3 $775,000 $258,333 $2,637 2.96%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $770,000 $192,500 $2,652 2.50%
JACKSON, MS (FHA|USDA|VA) 5 $685,000 $137,000 $3,053 2.70%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 4 $650,000 $162,500 $2,431 2.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $595,000 $198,333 $3,065 2.71%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $570,000 $285,000 $3,719 2.56%
Edwards, CO (FHA|USDA|VA) 1 $505,000 $505,000 $4,439 2.50%
Athens, TX (FHA|USDA|VA) 1 $475,000 $475,000 $6,188 2.63%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $440,000 $220,000 $8,408 2.69%
KNOXVILLE, TN (FHA|USDA|VA) 1 $395,000 $395,000 $3,558 2.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $365,000 $365,000 $3,415 2.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,007 2.63%
Natchez, MS-LA (FHA|USDA|VA) 1 $335,000 $335,000 $4,461 2.88%
Fort Polk South, LA (FHA|USDA|VA) 1 $335,000 $335,000 $4,559 2.88%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $325,000 $325,000 $3,684 3.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $325,000 $325,000 $5,360 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,167 3.00%
Meridian, MS (FHA|USDA|VA) 3 $325,000 $108,333 $3,309 3.46%
Athens, TN (FHA|USDA|VA) 1 $315,000 $315,000 $3,216 2.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,747 2.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $2,771 2.75%
El Campo, TX (FHA|USDA|VA) 1 $275,000 $275,000 $5,462 3.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,843 2.13%
HATTIESBURG, MS (FHA|USDA|VA) 2 $250,000 $125,000 $6,199 2.44%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,798 2.88%
Minden, LA (FHA|USDA|VA) 2 $220,000 $110,000 $3,146 2.75%
Jennings, LA (FHA|USDA|VA) 1 $215,000 $215,000 $3,638 2.75%
WACO, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,180 3.00%
Warrensburg, MO (FHA|USDA|VA) 1 $205,000 $205,000 $1,853 2.50%
JONESBORO, AR (FHA|USDA|VA) 1 $195,000 $195,000 $2,913 2.75%
BOULDER, CO (FHA|USDA|VA) 1 $195,000 $195,000 $3,041 2.13%
TULSA, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,458 2.63%
Jefferson, GA (FHA|USDA|VA) 1 $155,000 $155,000 $2,544 2.25%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $125,000 $125,000 $2,864 3.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,426 2.75%

Standard Mortgage Corporation's top markets include New Orleans, Shreveport, Lafayette, Baton Rouge, and Alexandria among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,686 $361,810,000 $214,597 $3,372 2.75%
FHA 144 $25,700,000 $178,472 $6,597 2.75%
VA 75 $19,255,000 $256,733 $5,783 2.52%
USDA 68 $13,870,000 $203,971 $5,750 2.75%

For the 2021 period, Standard Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 1,686 originations. Their 2nd most popular type is FHA, with 144 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 899 $177,615,000 $197,570 $3,179 2.63%
Home Purchase 656 $153,970,000 $234,710 $4,791 2.83%
Cash Out Refi 418 $89,050,000 $213,038 $3,502 2.83%

For the 2021, Standard Mortgage Corporation's most frequently cited loan purpose of loans were Refi, with 899 originations. The 2nd most popular reason of loans were Home Purchase, with 656 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,290 $296,730,000 $230,023 $4,129 2.87%
15 Year 417 $72,275,000 $173,321 $3,081 2.36%
20 Year 209 $41,985,000 $200,885 $3,275 2.70%
Other 37 $6,895,000 $186,351 $3,065 2.80%
10 Year 20 $2,750,000 $137,500 $2,706 2.33%

For the 2021, Standard Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 1,290 originations. The 2nd most popular length of loans were 15 Year, with 417 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,564 $331,790,000 $212,142
$<1k 351 $72,405,000 $206,282
$2k-3k 38 $9,990,000 $262,895
$3k-4k 12 $4,230,000 $352,500
$5k+ 3 $1,375,000 $458,333

$4,129 of loans were Standard Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,564 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 987 $224,325,000 $227,280
<2.5% 674 $129,390,000 $191,973
3-4% 306 $65,730,000 $214,804
4-5% 6 $1,190,000 $198,333

During 2021, Standard Mortgage Corporation's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 987 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 852 $127,770,000 $149,965 $3,490 2.74%
$200k-400k 814 $219,720,000 $269,926 $4,113 2.75%
$100,000 or less 186 $14,800,000 $79,570 $2,930 2.64%
$400k-600k 115 $53,305,000 $463,522 $4,823 2.79%
$600k-1MM 5 $3,745,000 $749,000 $6,603 2.83%
$1MM+ 1 $1,295,000 $1,295,000 $6,994 3.00%

2021 saw Standard Mortgage Corporation place emphasis on $100k-200k loans with 852 originations, totaling $127,770,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 465 $112,275,000 $241,452 $3,756 2.71%
$50k-75k 442 $74,630,000 $168,846 $3,796 2.73%
$75k-100k 365 $76,695,000 $210,123 $3,857 2.78%
$150k-250k 307 $85,765,000 $279,365 $3,710 2.74%
$50k or less 306 $41,470,000 $135,523 $3,766 2.75%
$250k+ 82 $28,310,000 $345,244 $3,978 2.69%

Standard Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 465 originations. The second most popular income band? $50k-75k, with 442 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 572 $119,200,000 $208,392 $3,534 2.71%
30-36% 352 $78,730,000 $223,665 $3,819 2.76%
<20% 319 $64,045,000 $200,768 $3,272 2.63%
40% 68 $14,020,000 $206,176 $3,999 2.72%
41% 68 $13,570,000 $199,559 $4,104 2.87%
37% 67 $14,065,000 $209,925 $4,074 2.74%
42% 63 $13,085,000 $207,698 $4,115 2.74%
39% 63 $13,685,000 $217,222 $4,005 2.86%
36% 60 $15,240,000 $254,000 $3,877 2.80%
38% 56 $12,490,000 $223,036 $4,202 2.87%
44% 55 $12,705,000 $231,000 $4,298 2.83%
43% 50 $10,970,000 $219,400 $4,176 2.77%
45% 38 $7,770,000 $204,474 $4,306 2.89%
49% 34 $8,520,000 $250,588 $4,148 2.78%
46% 28 $5,900,000 $210,714 $4,467 2.69%
48% 27 $6,665,000 $246,852 $4,855 2.77%
47% 24 $5,230,000 $217,917 $4,220 2.72%
50-60% 19 $3,225,000 $169,737 $5,387 2.67%
>60% 10 $1,520,000 $152,000 $3,948 2.85%

Standard Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 572 originations. The next most common DTI ratio? 30-36%, with 352 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,706 $369,180,000 $216,401 $3,743 2.74%
Black 167 $30,315,000 $181,527 $4,356 2.78%
Not provided 66 $13,640,000 $206,667 $3,279 2.75%
Asian 28 $6,490,000 $231,786 $3,877 2.50%
American Indian 4 $740,000 $185,000 $3,235 2.59%
Chinese 1 $145,000 $145,000 $8,005 2.88%
Native Hawaiian 1 $125,000 $125,000 $2,694 2.25%

Approval Rates

Total approvals of all applications
96.19%

Standard Mortgage Corporation 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
75.15%

Standard Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,973 $420,635,000 $213,196

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,973 $420,635,000 $213,196

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 118 $17,330,000 $146,864 $3,035 2.55%
40-60% 402 $77,540,000 $192,886 $3,239 2.59%
60-80% 763 $161,905,000 $212,195 $3,385 2.79%
80-100% 682 $163,070,000 $239,106 $4,685 2.80%
Under 20% 8 $790,000 $98,750 $3,072 2.53%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
STANDARD MORTGAGE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 16.7%
STANDARD MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 16.7%
STANDARD MORTGAGE CORPORATION FHA mortgage Struggling to pay mortgage 2 33.3%
STANDARD MORTGAGE CORPORATION Other type of mortgage Trouble during payment process 2 33.3%