Members Mortgage Company Rates, Fees & Info
WINCHESTER, MALEI: 5493005HTCBH4TWCVM82
Tax ID: 04-3243815
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Members Mortgage Company is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Members Mortgage Company has a high proportion of conventional loans. Their top markets include Boston, New Haven, Hartford, Worcester, and Bridgeport among others. Members Mortgage Company 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. Members Mortgage Company is typically a low fee lendor.Originations
1,920Origination Dollar Volume (All Markets)
$538,430,000Awards
MEMBERS MORTGAGE COMPANY - 2021
MEMBERS MORTGAGE COMPANY is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Members Mortgage Company 's average 30 year fixed rate mortgage of loans were
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.19%.
Relative Fees
Members Mortgage Company 's average total fees for a 30 year fixed rate
mortgage are $2,946.
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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 797 | $284,155,000 | $356,531 | $2,898 | 2.77% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 434 | $96,770,000 | $222,972 | $2,660 | 2.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 355 | $73,385,000 | $206,718 | $2,549 | 2.72% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 56 | $16,050,000 | $286,607 | $2,752 | 2.75% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 57 | $14,885,000 | $261,140 | $2,761 | 2.77% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 35 | $8,695,000 | $248,429 | $2,956 | 2.78% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 30 | $8,210,000 | $273,667 | $3,085 | 2.76% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 33 | $6,495,000 | $196,818 | $2,785 | 2.72% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 20 | $6,120,000 | $306,000 | $2,517 | 2.68% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 23 | $4,825,000 | $209,783 | $2,489 | 2.73% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 20 | $3,690,000 | $184,500 | $2,428 | 2.63% |
| Outside of Metro Areas | 18 | $3,160,000 | $175,556 | $2,621 | 2.73% |
| Torrington, CT (FHA|USDA|VA) | 12 | $2,980,000 | $248,333 | $2,574 | 2.69% |
| Laconia, NH (FHA|USDA|VA) | 9 | $1,915,000 | $212,778 | $2,544 | 2.67% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $1,250,000 | $625,000 | $3,865 | 2.56% |
| Keene, NH (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $3,036 | 2.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $6,929 | 2.50% |
| Concord, NH (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,144 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,004 | 2.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,363 | 3.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,995 | 2.75% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,344 | 2.63% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,168 | 3.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,895 | 2.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,753 | 3.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,204 | 3.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,705 | 2.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,079 | 2.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,636 | 3.00% |
Members Mortgage Company 's top markets include Boston, New Haven, Hartford, Worcester, and Bridgeport among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,920 | $538,430,000 | $280,432 | $2,759 | 2.75% |
For the 2021 period, Members Mortgage Company 's most frequently originated loan type of loans were Conventional, with 1,920 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 774 | $212,430,000 | $274,457 | $2,745 | 2.78% |
| Refi | 707 | $184,155,000 | $260,474 | $2,514 | 2.64% |
| Home Purchase | 357 | $121,855,000 | $341,331 | $3,324 | 2.90% |
| Other | 55 | $12,945,000 | $235,364 | $2,476 | 2.66% |
| Home Improvement | 27 | $7,045,000 | $260,926 | $2,663 | 2.68% |
For the 2021, Members Mortgage Company 's most frequently cited loan purpose of loans were Cash Out Refi, with 774 originations. The 2nd most popular reason of loans were Refi, with 707 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,061 | $341,435,000 | $321,805 | $2,946 | 2.96% |
| 15 Year | 472 | $108,320,000 | $229,492 | $2,510 | 2.37% |
| 20 Year | 253 | $62,595,000 | $247,411 | $2,573 | 2.77% |
| 10 Year | 104 | $17,260,000 | $165,962 | $2,432 | 2.25% |
| Other | 30 | $8,820,000 | $294,000 | $2,743 | 2.94% |
For the 2021, Members Mortgage Company 's most frequently cited loan length of loans were 30 Year, with 1,061 originations. The 2nd most popular length of loans were 15 Year, with 472 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,850 | $515,970,000 | $278,903 |
| $3k-4k | 25 | $7,975,000 | $319,000 |
| $1k-2k | 23 | $5,495,000 | $238,913 |
| $2k-3k | 11 | $3,575,000 | $325,000 |
| $5k+ | 11 | $5,415,000 | $492,273 |
$2,946 of loans were Members Mortgage Company 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,850 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,060 | $312,240,000 | $294,566 |
| <2.5% | 600 | $146,460,000 | $244,100 |
| 3-4% | 258 | $79,100,000 | $306,589 |
| 4-5% | 2 | $630,000 | $315,000 |
During 2021, Members Mortgage Company 's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,060 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 904 | $255,460,000 | $282,588 | $2,752 | 2.78% |
| $100k-200k | 620 | $95,510,000 | $154,048 | $2,428 | 2.67% |
| $400k-600k | 278 | $130,970,000 | $471,115 | $3,116 | 2.80% |
| $600k-1MM | 65 | $46,115,000 | $709,462 | $4,734 | 2.89% |
| $100,000 or less | 48 | $4,200,000 | $87,500 | $2,194 | 2.61% |
| $1MM+ | 5 | $6,175,000 | $1,235,000 | $4,907 | 2.90% |
2021 saw Members Mortgage Company place emphasis on $200k-400k loans with 904 originations, totaling $255,460,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 580 | $166,010,000 | $286,224 | $2,732 | 2.74% |
| $150k-250k | 460 | $154,790,000 | $336,500 | $2,893 | 2.70% |
| $75k-100k | 356 | $83,670,000 | $235,028 | $2,642 | 2.77% |
| $50k-75k | 311 | $60,115,000 | $193,296 | $2,549 | 2.80% |
| $250k+ | 132 | $62,750,000 | $475,379 | $3,389 | 2.72% |
| $50k or less | 81 | $11,095,000 | $136,975 | $2,476 | 2.86% |
Members Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 580 originations. The second most popular income band? $150k-250k, with 460 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 610 | $172,580,000 | $282,918 | $2,771 | 2.72% |
| 30-36% | 351 | $92,725,000 | $264,174 | $2,738 | 2.75% |
| <20% | 277 | $77,055,000 | $278,177 | $2,648 | 2.66% |
| 44% | 66 | $17,500,000 | $265,152 | $2,620 | 2.78% |
| 40% | 65 | $17,755,000 | $273,154 | $2,824 | 2.75% |
| 36% | 63 | $18,825,000 | $298,810 | $2,840 | 2.80% |
| 37% | 62 | $19,820,000 | $319,677 | $2,864 | 2.83% |
| 39% | 60 | $18,030,000 | $300,500 | $2,851 | 2.76% |
| 42% | 55 | $17,065,000 | $310,273 | $2,764 | 2.86% |
| 38% | 55 | $15,725,000 | $285,909 | $2,802 | 2.83% |
| 43% | 54 | $15,700,000 | $290,741 | $2,829 | 2.87% |
| 41% | 51 | $13,735,000 | $269,314 | $2,716 | 2.76% |
| 45% | 33 | $8,555,000 | $259,242 | $3,199 | 2.85% |
| 49% | 33 | $9,575,000 | $290,152 | $2,851 | 2.72% |
| 47% | 29 | $9,015,000 | $310,862 | $2,626 | 2.91% |
| 48% | 29 | $7,895,000 | $272,241 | $2,841 | 2.86% |
| 46% | 25 | $6,345,000 | $253,800 | $2,670 | 2.81% |
| 50-60% | 1 | $215,000 | $215,000 | $2,552 | 2.50% |
| >60% | 1 | $315,000 | $315,000 | $2,717 | 2.88% |
Members Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 610 originations. The next most common DTI ratio? 30-36%, with 351 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,256 | $340,050,000 | $270,740 | $2,721 | 2.74% |
| Not provided | 508 | $151,930,000 | $299,075 | $2,764 | 2.75% |
| Black | 84 | $21,620,000 | $257,381 | $2,738 | 2.83% |
| Asian | 54 | $18,480,000 | $342,222 | $3,520 | 2.74% |
| Chinese | 6 | $2,450,000 | $408,333 | $2,924 | 2.88% |
| Asian Indian | 5 | $2,175,000 | $435,000 | $3,643 | 3.00% |
| American Indian | 3 | $595,000 | $198,333 | $2,565 | 2.79% |
| Other Asian | 2 | $490,000 | $245,000 | $3,106 | 2.75% |
| Vietnamese | 1 | $465,000 | $465,000 | $2,906 | 2.88% |
| Native Hawaiian | 1 | $175,000 | $175,000 | $2,065 | 2.50% |
Approval Rates
Total approvals of all applications91.63%
Members Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination76.38%
Members Mortgage Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,920 | $538,430,000 | $280,432 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,920 | $538,430,000 | $280,432 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 193 | $40,985,000 | $212,358 | $2,470 | 2.52% |
| 40-60% | 541 | $138,175,000 | $255,407 | $2,553 | 2.63% |
| 60-80% | 892 | $268,000,000 | $300,448 | $2,865 | 2.82% |
| 80-100% | 275 | $88,205,000 | $320,745 | $3,046 | 2.91% |
| Under 20% | 19 | $3,065,000 | $161,316 | $2,412 | 2.51% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBERS MORTGAGE COMPANY, INC. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
