Emigrant Mortgage Company Rates, Fees & Info

ELMSFORD, NY

LEI: 5493002HK8IUOTMHKS81

Tax ID: 13-3432069

5 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Emigrant Mortgage Company is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Emigrant Mortgage Company has a high proportion of conventional loans. Their top markets include New York, Heber, Miami, Bridgeport, and Poughkeepsie among others. Emigrant Mortgage Company 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. Emigrant Mortgage Company is typically an average fee lendor.


Originations

271

Origination Dollar Volume (All Markets)

$97,625,000

Awards

EMIGRANT MORTGAGE COMPANY  30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Emigrant Mortgage Company 's average 30 year fixed rate mortgage of loans were 3.05%.

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

This yields a difference of -0.1%.

Relative Fees

Emigrant Mortgage Company 's average total fees for a 30 year fixed rate mortgage are $5,026.

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 York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 253 $89,155,000 $352,391 $4,855 2.93%
Heber, UT (FHA|USDA|VA) 1 $2,025,000 $2,025,000 $7,258 3.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,835,000 $367,000 $4,828 2.88%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $1,495,000 $498,333 $4,202 3.71%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,880 3.04%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $0 3.13%
Torrington, CT (FHA|USDA|VA) 1 $495,000 $495,000 $3,950 3.25%
Key West, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,104 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,742 2.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.63%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $215,000 $215,000 $4,612 2.50%

Emigrant Mortgage Company 's top markets include New York, Heber, Miami, Bridgeport, and Poughkeepsie among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 271 $97,625,000 $360,240 $4,863 2.95%

For the 2021 period, Emigrant Mortgage Company 's most frequently originated loan type of loans were Conventional, with 271 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 129 $49,745,000 $385,620 $4,861 3.13%
Cash Out Refi 69 $24,685,000 $357,754 $5,079 2.88%
Refi 60 $19,610,000 $326,833 $4,720 2.66%
Home Improvement 9 $2,135,000 $237,222 $4,348 2.81%
Other 4 $1,450,000 $362,500 $4,569 2.81%

For the 2021, Emigrant Mortgage Company 's most frequently cited loan purpose of loans were Home Purchase, with 129 originations. The 2nd most popular reason of loans were Cash Out Refi, with 69 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 224 $85,060,000 $379,732 $5,026 3.05%
15 Year 36 $9,080,000 $252,222 $3,961 2.35%
20 Year 5 $1,545,000 $309,000 $5,767 2.55%
Other 5 $1,735,000 $347,000 $3,764 2.88%
10 Year 1 $205,000 $205,000 $4,627 2.38%

For the 2021, Emigrant Mortgage Company 's most frequently cited loan length of loans were 30 Year, with 224 originations. The 2nd most popular length of loans were 15 Year, with 36 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 119 $40,635,000 $341,471
$1k-2k 56 $14,770,000 $263,750
$3k-4k 30 $11,750,000 $391,667
$2k-3k 23 $6,605,000 $287,174
$5k+ 20 $11,080,000 $554,000

$5,026 of loans were Emigrant Mortgage Company 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 119 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 159 $56,185,000 $353,365
<2.5% 50 $11,250,000 $225,000
3-4% 44 $20,640,000 $469,091
5-6% 9 $4,565,000 $507,222
4-5% 8 $3,780,000 $472,500
6-7% 1 $1,205,000 $1,205,000

During 2021, Emigrant Mortgage Company 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 159 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 126 $37,890,000 $300,714 $4,217 2.85%
$400k-600k 65 $31,355,000 $482,385 $6,113 3.02%
$100k-200k 50 $7,520,000 $150,400 $3,831 2.84%
$600k-1MM 16 $11,120,000 $695,000 $8,458 3.20%
$100,000 or less 7 $525,000 $75,000 $3,108 2.63%
$1MM+ 7 $9,215,000 $1,316,429 $12,672 4.39%

2021 saw Emigrant Mortgage Company place emphasis on $200k-400k loans with 126 originations, totaling $37,890,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 69 $25,845,000 $374,565 $5,168 2.93%
$100k-150k 65 $21,975,000 $338,077 $4,541 2.79%
$75k-100k 44 $11,950,000 $271,591 $4,317 2.77%
$250k+ 43 $22,045,000 $512,674 $6,429 2.98%
$50k-75k 27 $5,855,000 $216,852 $3,993 2.86%
$50k or less 6 $600,000 $100,000 $3,276 2.48%

Emigrant Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 69 originations. The second most popular income band? $100k-150k, with 65 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 86 $28,480,000 $331,163 $4,969 2.90%
<20% 39 $12,785,000 $327,821 $4,169 2.72%
30-36% 37 $13,455,000 $363,649 $5,720 2.87%
36% 11 $4,005,000 $364,091 $4,306 2.68%
42% 11 $4,645,000 $422,273 $4,777 2.99%
37% 10 $2,430,000 $243,000 $4,944 2.79%
40% 9 $4,525,000 $502,778 $5,582 3.15%
49% 8 $2,010,000 $251,250 $3,702 2.63%
38% 8 $3,600,000 $450,000 $4,622 3.16%
39% 8 $3,100,000 $387,500 $4,841 2.88%
41% 7 $2,835,000 $405,000 $4,629 2.75%
45% 7 $1,915,000 $273,571 $3,897 2.86%
47% 7 $2,015,000 $287,857 $5,075 2.66%
48% 6 $3,080,000 $513,333 $5,515 2.98%
44% 3 $1,305,000 $435,000 $5,195 3.17%
46% 2 $780,000 $390,000 $6,241 3.13%
43% 2 $780,000 $390,000 $4,037 2.56%

Emigrant Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? <20%, with 39 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 181 $65,255,000 $360,525 $4,817 2.84%
Not provided 49 $16,615,000 $339,082 $5,001 2.79%
Asian 18 $6,580,000 $365,556 $5,540 3.15%
Not applicable 10 $5,880,000 $588,000 $0 5.23%
Black 11 $2,625,000 $238,636 $4,480 2.83%
Asian Indian 2 $670,000 $335,000 $3,029 3.38%

Approval Rates

Total approvals of all applications
84.74%

Emigrant Mortgage Company has a below average approval rate.

Pick Rate

Approvals leading to origination
81.82%

Emigrant Mortgage Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 271 $97,625,000 $360,240

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
271 $97,625,000 $360,240

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 51 $17,685,000 $346,765 $4,646 3.05%
40-60% 96 $32,860,000 $342,292 $4,362 2.94%
60-80% 92 $35,230,000 $382,935 $5,303 2.91%
80-100% 28 $11,000,000 $392,857 $5,404 2.92%
Under 20% 4 $850,000 $212,500 $5,267 2.53%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
ENCORE CAPITAL GROUP INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
ENCORE CAPITAL GROUP INC. Conventional home mortgage Closing on a mortgage 1 25.0%
ENCORE CAPITAL GROUP INC. Conventional home mortgage Struggling to pay mortgage 1 25.0%
ENCORE CAPITAL GROUP INC. Conventional home mortgage Trouble during payment process 1 25.0%