Group Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 5493002N80S5V3OY3S68
Tax ID: 38-3922561
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Group Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Group Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Fort Collins, Greeley, Colorado Springs, Denver, and Boulder among others. Group Mortgage 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. Group Mortgage is typically an average fee lendor.Originations
1,133Origination Dollar Volume (All Markets)
$405,055,000Relative Rate
Group Mortgage '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
Group Mortgage 's average total fees for a 30 year fixed rate
mortgage are $5,208.
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 |
|---|---|---|---|---|---|
| FORT COLLINS, CO (FHA|USDA|VA) | 676 | $235,680,000 | $348,639 | $4,830 | 3.06% |
| GREELEY, CO (FHA|USDA|VA) | 220 | $75,990,000 | $345,409 | $5,429 | 3.14% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 128 | $50,410,000 | $393,828 | $5,637 | 3.08% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 47 | $18,195,000 | $387,128 | $5,437 | 3.02% |
| BOULDER, CO (FHA|USDA|VA) | 11 | $6,755,000 | $614,091 | $5,735 | 3.07% |
| Outside of Metro Areas | 11 | $5,115,000 | $465,000 | $4,183 | 3.08% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 6 | $2,220,000 | $370,000 | $4,337 | 2.77% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,885,000 | $377,000 | $5,802 | 3.08% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $4,206 | 2.67% |
| Rockport, TX (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $6,505 | 3.00% |
| CHEYENNE, WY (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $6,499 | 2.88% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,309 | 3.13% |
| Fort Morgan, CO (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,103 | 3.38% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,690 | 3.25% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $8,597 | 3.06% |
| Edwards, CO (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,515 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 3.25% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,827 | 3.00% |
| Laramie, WY (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,476 | 2.75% |
| Boone, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 3.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,328 | 2.75% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,027 | 2.88% |
| Durango, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,455 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,890 | 3.25% |
| PUEBLO, CO (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,881 | 3.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,564 | 3.13% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,041 | 2.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,874 | 3.00% |
Group Mortgage 's top markets include Fort Collins, Greeley, Colorado Springs, Denver, and Boulder among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,025 | $362,015,000 | $353,185 | $4,615 | 3.10% |
| VA | 66 | $28,500,000 | $431,818 | $7,489 | 2.74% |
| FHA | 42 | $14,540,000 | $346,190 | $10,876 | 3.09% |
For the 2021 period, Group Mortgage 's most frequently originated loan type of loans were Conventional, with 1,025 originations. Their 2nd most popular type is VA, with 66 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 621 | $242,055,000 | $389,783 | $5,646 | 3.11% |
| Refi | 305 | $95,135,000 | $311,918 | $4,091 | 2.95% |
| Cash Out Refi | 189 | $62,705,000 | $331,772 | $4,773 | 3.18% |
| Other | 16 | $4,700,000 | $293,750 | $4,093 | 3.16% |
| Home Improvement | 2 | $460,000 | $230,000 | $5,873 | 3.13% |
For the 2021, Group Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 621 originations. The 2nd most popular reason of loans were Refi, with 305 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,014 | $368,840,000 | $363,748 | $5,208 | 3.13% |
| 15 Year | 71 | $22,495,000 | $316,831 | $4,085 | 2.51% |
| 20 Year | 24 | $6,910,000 | $287,917 | $3,916 | 2.90% |
| Other | 18 | $4,840,000 | $268,889 | $4,127 | 3.15% |
| 10 Year | 6 | $1,970,000 | $328,333 | $3,861 | 2.48% |
For the 2021, Group Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,014 originations. The 2nd most popular length of loans were 15 Year, with 71 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 550 | $199,780,000 | $363,236 |
| $3k-4k | 180 | $58,100,000 | $322,778 |
| $5k+ | 120 | $59,020,000 | $491,833 |
| $2k-3k | 99 | $34,385,000 | $347,323 |
| $<1k | 20 | $8,030,000 | $401,500 |
$5,208 of loans were Group Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 550 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 534 | $188,220,000 | $352,472 |
| 2.5-3% | 500 | $184,820,000 | $369,640 |
| <2.5% | 79 | $26,295,000 | $332,848 |
| 4-5% | 20 | $5,720,000 | $286,000 |
During 2021, Group Mortgage 's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 534 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 663 | $202,775,000 | $305,845 | $4,840 | 3.08% |
| $400k-600k | 310 | $147,900,000 | $477,097 | $5,297 | 3.04% |
| $100k-200k | 109 | $18,115,000 | $166,193 | $3,940 | 3.19% |
| $600k-1MM | 34 | $23,810,000 | $700,294 | $7,813 | 3.07% |
| $1MM+ | 9 | $11,785,000 | $1,309,444 | $13,416 | 3.04% |
| $100,000 or less | 8 | $670,000 | $83,750 | $3,508 | 2.97% |
2021 saw Group Mortgage place emphasis on $200k-400k loans with 663 originations, totaling $202,775,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 305 | $111,375,000 | $365,164 | $5,093 | 3.11% |
| $150k-250k | 243 | $100,495,000 | $413,560 | $4,895 | 3.07% |
| $50k-75k | 214 | $63,490,000 | $296,682 | $4,829 | 3.07% |
| $75k-100k | 214 | $71,660,000 | $334,860 | $5,601 | 3.05% |
| $250k+ | 80 | $40,180,000 | $502,250 | $5,705 | 3.17% |
| $50k or less | 65 | $13,525,000 | $208,077 | $4,390 | 3.06% |
Group Mortgage lent most frequently to those with incomes in the $100k-150k range, with 305 originations. The second most popular income band? $150k-250k, with 243 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 257 | $88,405,000 | $343,988 | $4,747 | 3.05% |
| 30-36% | 218 | $78,750,000 | $361,239 | $4,790 | 3.11% |
| <20% | 90 | $30,660,000 | $340,667 | $4,584 | 3.04% |
| 40% | 57 | $20,315,000 | $356,404 | $5,249 | 3.12% |
| 41% | 45 | $16,915,000 | $375,889 | $5,297 | 3.10% |
| 39% | 45 | $15,075,000 | $335,000 | $4,915 | 3.31% |
| 46% | 42 | $15,650,000 | $372,619 | $6,157 | 3.01% |
| 37% | 42 | $18,440,000 | $439,048 | $5,956 | 3.08% |
| 43% | 40 | $14,910,000 | $372,750 | $5,713 | 3.08% |
| 38% | 39 | $15,075,000 | $386,538 | $4,784 | 3.15% |
| 44% | 38 | $12,490,000 | $328,684 | $3,995 | 3.14% |
| 42% | 35 | $13,385,000 | $382,429 | $5,051 | 3.06% |
| 36% | 33 | $11,155,000 | $338,030 | $4,788 | 3.08% |
| 49% | 32 | $10,630,000 | $332,188 | $5,149 | 3.07% |
| 45% | 30 | $11,410,000 | $380,333 | $4,800 | 3.11% |
| 47% | 28 | $10,290,000 | $367,500 | $5,990 | 3.05% |
| 48% | 26 | $7,980,000 | $306,923 | $5,366 | 3.03% |
| 50-60% | 21 | $7,915,000 | $376,905 | $9,315 | 2.95% |
| >60% | 2 | $900,000 | $450,000 | $8,514 | 2.88% |
Group Mortgage lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 218 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 819 | $288,375,000 | $352,106 | $4,931 | 3.07% |
| Not provided | 276 | $102,420,000 | $371,087 | $5,341 | 3.10% |
| American Indian | 17 | $7,045,000 | $414,412 | $6,645 | 3.14% |
| Asian | 9 | $3,095,000 | $343,889 | $6,448 | 2.99% |
| Black | 7 | $2,045,000 | $292,143 | $6,726 | 3.11% |
| Other Pacific Islander | 2 | $1,020,000 | $510,000 | $8,079 | 3.06% |
| Filipino | 2 | $750,000 | $375,000 | $2,642 | 2.75% |
| Chinese | 1 | $305,000 | $305,000 | $3,635 | 3.00% |
Approval Rates
Total approvals of all applications99.44%
Group Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.80%
Group Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,133 | $405,055,000 | $357,507 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,133 | $405,055,000 | $357,507 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 47 | $10,275,000 | $218,617 | $3,668 | 2.93% |
| 40-60% | 201 | $59,395,000 | $295,498 | $4,119 | 2.97% |
| 60-80% | 504 | $183,760,000 | $364,603 | $4,750 | 3.16% |
| 80-100% | 372 | $148,920,000 | $400,323 | $5,907 | 3.05% |
| Over 100% | 5 | $2,055,000 | $411,000 | $15,759 | 2.85% |
| Under 20% | 4 | $650,000 | $162,500 | $2,857 | 2.91% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GRIFFIN FUNDING, INC. | Other type of mortgage | Closing on a mortgage | 1 | 50.0% |
| GRIFFIN FUNDING, INC. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
