Madison Bank Of Maryland Mortgage Rates, Fees & Info

Forest Hill, MD

LEI: 549300335QFYU4536D37

Tax ID: 52-0250437

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Madison Bank Of Maryland is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Madison Bank Of Maryland has a high proportion of conventional loans. Their top two markets are Baltimore and Washington .

    Madison Bank Of Maryland has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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    Originations

    17

    Origination Dollar Volume (All Markets)

    $7,005,000

    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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 16 $6,570,000 $410,625 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
    Madison Bank Of Maryland's top markets include Baltimore and Washington among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 17 $7,005,000 $412,059 $0 0.00%

    For 2019, Madison Bank Of Maryland's most frequently originated type of loan was Conventional, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 8 $3,300,000 $412,500 $0 0.00%
    Cash Out Refi 8 $3,390,000 $423,750 $0 0.00%
    Refi 1 $315,000 $315,000 $0 0.00%

    For 2019, Madison Bank Of Maryland's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 17 $7,005,000 $412,059 $0 0.00%

    For 2019, Madison Bank Of Maryland's most frequently cited loan duration was Other, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 11 $3,025,000 $275,000 $0 0.00%
    $600k-1MM 4 $3,410,000 $852,500 $0 0.00%
    $100k-200k 1 $135,000 $135,000 $0 0.00%
    $400k-600k 1 $435,000 $435,000 $0 0.00%

    2019 saw Madison Bank Of Maryland place emphasis on $200k-400k loans with 11 originations, totaling $3,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $1,965,000 $280,714 $0 0.00%
    $75k-100k 3 $905,000 $301,667 $0 0.00%
    $150k-250k 2 $1,610,000 $805,000 $0 0.00%
    $250k+ 2 $1,800,000 $900,000 $0 0.00%
    $50k-75k 1 $275,000 $275,000 $0 0.00%
    $50k or less 1 $135,000 $135,000 $0 0.00%

    Madison Bank Of Maryland lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $75k-100k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 17 $7,005,000 $412,059 $0 0.00%

    Madison Bank Of Maryland lent most frequently to those with DTI ratios of Exempt%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 13 $4,965,000 $381,923 $0 0.00%
    Not provided 2 $1,290,000 $645,000 $0 0.00%
    Black 1 $435,000 $435,000 $0 0.00%
    Not applicable 1 $315,000 $315,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.62%

    Madison Bank Of Maryland has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.35%

    Madison Bank Of Maryland has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 17 $7,005,000 $412,059

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,160,000 $580,000
    Single Family (1-4 Units):Site-Built 15 $5,845,000 $389,667

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Madison Management Services, LLC Conventional home mortgage Struggling to pay mortgage 2 40.0%
    Madison Management Services, LLC Conventional home mortgage Trouble during payment process 1 20.0%
    Madison Management Services, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 1 20.0%
    Madison Management Services, LLC Other type of mortgage Problem with a credit reporting company's investigation into an existing problem 1 20.0%