Members Mortgage Company Rates, Fees & Info

WINCHESTER, MA

LEI: 5493005HTCBH4TWCVM82

Tax ID: 04-3243815

5 stars - out of 5 stars, based on 44 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

1,920

Origination Dollar Volume (All Markets)

$538,430,000
Show all (14) awards

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 applications
91.63%

Members Mortgage Company has an average approval rate.

Pick Rate

Approvals leading to origination
76.38%

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%