The Mortgage Warehouse Rates, Fees & Info
LOUISVILLE, KYLEI: 5493005G8JO0PPI0HN36
Tax ID: 02-0687335
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Mortgage Data
Overview
The Mortgage Warehouse is a smaller mortgage company specializing in Refi and Cash Out Refi loans. The Mortgage Warehouse 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.) They have a low ratio of USDA loans. Their top markets include Louisville/jefferson County, Cape Coral, Naples, Lexington, and Elizabethtown among others. The Mortgage Warehouse 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. The Mortgage Warehouse is typically a low fee lendor.Originations
1,182Origination Dollar Volume (All Markets)
$283,850,000Awards
THE MORTGAGE WAREHOUSE - 2021
THE MORTGAGE WAREHOUSE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
The Mortgage Warehouse's average 30 year fixed rate mortgage of loans were
3.03%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.12%.
Relative Fees
The Mortgage Warehouse's average total fees for a 30 year fixed rate
mortgage are $3,060.
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 |
|---|---|---|---|---|---|
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 720 | $164,890,000 | $229,014 | $2,715 | 2.81% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 270 | $68,400,000 | $253,333 | $3,304 | 3.03% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 70 | $22,560,000 | $322,286 | $3,455 | 2.97% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 19 | $4,035,000 | $212,368 | $3,440 | 2.61% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 16 | $3,740,000 | $233,750 | $2,771 | 2.80% |
| Bardstown, KY (FHA|USDA|VA) | 16 | $2,900,000 | $181,250 | $2,819 | 2.79% |
| Outside of Metro Areas | 11 | $2,305,000 | $209,545 | $2,917 | 3.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $3,617 | 2.88% |
| Frankfort, KY (FHA|USDA|VA) | 8 | $1,700,000 | $212,500 | $3,383 | 2.76% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $3,370 | 3.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $3,670 | 2.68% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,365,000 | $273,000 | $3,368 | 3.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $2,606 | 2.59% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $2,696 | 2.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,150 | 2.81% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,342 | 3.19% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,306 | 3.19% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,488 | 2.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,229 | 2.94% |
| Danville, KY (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,059 | 2.81% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,697 | 2.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,648 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,453 | 2.75% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,430 | 2.88% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,151 | 2.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,449 | 3.50% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,373 | 2.50% |
| Madison, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,079 | 2.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,249 | 2.50% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,532 | 4.38% |
| Seymour, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,681 | 3.13% |
The Mortgage Warehouse's top markets include Louisville/jefferson County, Cape Coral, Naples, Lexington, and Elizabethtown among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,142 | $274,680,000 | $240,525 | $2,886 | 2.88% |
| VA | 31 | $7,165,000 | $231,129 | $3,824 | 2.56% |
| FHA | 6 | $1,420,000 | $236,667 | $7,471 | 2.96% |
| USDA | 3 | $585,000 | $195,000 | $5,023 | 2.88% |
For the 2021 period, The Mortgage Warehouse's most frequently originated loan type of loans were Conventional, with 1,142 originations. Their 2nd most popular type is VA, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 614 | $143,120,000 | $233,094 | $2,713 | 2.76% |
| Cash Out Refi | 373 | $88,025,000 | $235,992 | $2,923 | 2.98% |
| Home Purchase | 195 | $52,705,000 | $270,282 | $3,688 | 3.02% |
For the 2021, The Mortgage Warehouse's most frequently cited loan purpose of loans were Refi, with 614 originations. The 2nd most popular reason of loans were Cash Out Refi, with 373 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 801 | $199,905,000 | $249,569 | $3,060 | 3.03% |
| 15 Year | 274 | $60,530,000 | $220,912 | $2,694 | 2.45% |
| 20 Year | 65 | $14,595,000 | $224,538 | $2,649 | 2.75% |
| Other | 25 | $6,125,000 | $245,000 | $2,662 | 2.95% |
| 10 Year | 17 | $2,695,000 | $158,529 | $2,715 | 2.35% |
For the 2021, The Mortgage Warehouse's most frequently cited loan length of loans were 30 Year, with 801 originations. The 2nd most popular length of loans were 15 Year, with 274 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,145 | $274,935,000 | $240,118 |
| $<1k | 29 | $7,035,000 | $242,586 |
| $3k-4k | 3 | $675,000 | $225,000 |
| $2k-3k | 2 | $530,000 | $265,000 |
$3,060 of loans were The Mortgage Warehouse's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,145 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 530 | $131,660,000 | $248,415 |
| 3-4% | 377 | $90,385,000 | $239,748 |
| <2.5% | 270 | $60,860,000 | $225,407 |
| 4-5% | 4 | $870,000 | $217,500 |
| 5-6% | 1 | $75,000 | $75,000 |
During 2021, The Mortgage Warehouse's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 530 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 623 | $170,165,000 | $273,138 | $3,060 | 2.88% |
| $100k-200k | 433 | $68,475,000 | $158,141 | $2,642 | 2.86% |
| $400k-600k | 91 | $42,175,000 | $463,462 | $3,678 | 2.88% |
| $100,000 or less | 35 | $3,035,000 | $86,714 | $2,545 | 2.82% |
2021 saw The Mortgage Warehouse place emphasis on $200k-400k loans with 623 originations, totaling $170,165,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 298 | $79,510,000 | $266,812 | $3,096 | 2.85% |
| $50k-75k | 294 | $58,030,000 | $197,381 | $2,816 | 2.92% |
| $75k-100k | 254 | $59,090,000 | $232,638 | $2,812 | 2.88% |
| $150k-250k | 175 | $55,795,000 | $318,829 | $3,199 | 2.79% |
| $50k or less | 120 | $19,000,000 | $158,333 | $2,726 | 2.88% |
| $250k+ | 35 | $11,105,000 | $317,286 | $3,051 | 2.93% |
The Mortgage Warehouse lent most frequently to those with incomes in the $100k-150k range, with 298 originations. The second most popular income band? $50k-75k, with 294 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 328 | $76,530,000 | $233,323 | $2,860 | 2.82% |
| 30-36% | 254 | $63,030,000 | $248,150 | $3,012 | 2.86% |
| <20% | 132 | $27,320,000 | $206,970 | $2,551 | 2.70% |
| 41% | 53 | $13,065,000 | $246,509 | $3,001 | 3.01% |
| 36% | 48 | $11,630,000 | $242,292 | $2,983 | 3.03% |
| 42% | 47 | $13,045,000 | $277,553 | $3,037 | 2.99% |
| 40% | 46 | $11,440,000 | $248,696 | $2,933 | 3.01% |
| 38% | 43 | $11,235,000 | $261,279 | $3,076 | 2.81% |
| 37% | 43 | $9,855,000 | $229,186 | $2,757 | 2.84% |
| 39% | 35 | $9,365,000 | $267,571 | $3,025 | 3.00% |
| 43% | 34 | $9,060,000 | $266,471 | $3,274 | 2.96% |
| 44% | 34 | $8,220,000 | $241,765 | $3,131 | 3.05% |
| 45% | 26 | $5,290,000 | $203,462 | $2,863 | 2.88% |
| 48% | 17 | $4,215,000 | $247,941 | $3,097 | 3.05% |
| 46% | 11 | $2,755,000 | $250,455 | $3,250 | 2.91% |
| 47% | 11 | $2,595,000 | $235,909 | $3,098 | 2.84% |
| 49% | 11 | $2,895,000 | $263,182 | $3,386 | 3.14% |
| 50-60% | 9 | $2,305,000 | $256,111 | $5,068 | 2.79% |
The Mortgage Warehouse lent most frequently to those with DTI ratios of 20-30%, with 328 originations. The next most common DTI ratio? 30-36%, with 254 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,127 | $271,845,000 | $241,211 | $2,945 | 2.87% |
| Black | 23 | $5,055,000 | $219,783 | $2,893 | 3.04% |
| Asian | 18 | $4,700,000 | $261,111 | $2,815 | 2.71% |
| Not provided | 10 | $1,580,000 | $158,000 | $2,843 | 2.44% |
| Asian Indian | 1 | $215,000 | $215,000 | $2,335 | 2.38% |
| Vietnamese | 1 | $185,000 | $185,000 | $2,389 | 2.75% |
| Other Asian | 1 | $135,000 | $135,000 | $2,867 | 2.88% |
| Native Hawaiian | 1 | $135,000 | $135,000 | $2,603 | 3.00% |
Approval Rates
Total approvals of all applications93.37%
The Mortgage Warehouse has an average approval rate.
Pick Rate
Approvals leading to origination87.07%
The Mortgage Warehouse has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $75,000 | $75,000 |
| NA | 1,181 | $283,775,000 | $240,284 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,182 | $283,850,000 | $240,144 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 50 | $8,490,000 | $169,800 | $2,898 | 2.64% |
| 40-60% | 290 | $60,480,000 | $208,552 | $2,709 | 2.74% |
| 60-80% | 652 | $164,280,000 | $251,963 | $2,882 | 2.92% |
| 80-100% | 185 | $49,835,000 | $269,378 | $3,514 | 2.96% |
| Under 20% | 5 | $765,000 | $153,000 | $3,084 | 3.40% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| THE MORTGAGE EXPERTS LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
