Hudson Heritage Mortgage Rates, Fees & Info

Middletown, NY

LEI: 5493005ZSV53K4M63M18

Tax ID: 14-1348251

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hudson Heritage is a smaller mortgage company specializing in Refi and Home Purchase loans. Hudson Heritage has a high proportion of conventional loans. Their top markets include Poughkeepsie, Kingston, New York, Albany, and Palm Bay among others. Hudson Heritage has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. Hudson Heritage is typically a low fee lendor.


Originations

546

Origination Dollar Volume (All Markets)

$108,360,000

Relative Rate

Hudson Heritage's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Hudson Heritage's average total fees for a 30 year fixed rate mortgage are $2,782.

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
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 336 $69,000,000 $205,357 $447 3.47%
KINGSTON, NY (FHA|USDA|VA) 82 $17,220,000 $210,000 $1,257 3.14%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 64 $11,960,000 $186,875 $0 4.26%
Outside of Metro Areas 31 $4,665,000 $150,484 $242 3.73%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3 $555,000 $185,000 $0 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $430,000 $215,000 $0 2.81%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $385,000 $385,000 $0 3.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $370,000 $185,000 $0 2.69%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 2.63%
LANCASTER, PA (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.13%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $285,000 $285,000 $0 2.25%
GLENS FALLS, NY (FHA|USDA|VA) 1 $235,000 $235,000 $0 2.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.25%
Hudson, NY (FHA|USDA|VA) 2 $190,000 $95,000 $0 4.44%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.38%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $160,000 $80,000 $0 2.81%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.50%
ROCHESTER, NY (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.88%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.50%
SYRACUSE, NY (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.13%
WILMINGTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.38%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.50%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.25%
PITTSBURGH, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%

Hudson Heritage's top markets include Poughkeepsie, Kingston, New York, Albany, and Palm Bay among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 546 $108,360,000 $198,462 $444 3.50%

For the 2021 period, Hudson Heritage's most frequently originated loan type of loans were Conventional, with 546 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 403 $74,145,000 $183,983 $409 3.67%
Home Purchase 143 $34,215,000 $239,266 $3,899 3.03%

For the 2021, Hudson Heritage's most frequently cited loan purpose of loans were Refi, with 403 originations. The 2nd most popular reason of loans were Home Purchase, with 143 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 241 $61,075,000 $253,423 $2,782 3.09%
15 Year 155 $27,125,000 $175,000 $800 2.99%
20 Year 66 $11,570,000 $175,303 $540 3.99%
10 Year 58 $4,590,000 $79,138 $280 5.41%
5 Year 13 $565,000 $43,462 $0 6.48%
Other 13 $3,435,000 $264,231 $0 3.09%

For the 2021, Hudson Heritage's most frequently cited loan length of loans were 30 Year, with 241 originations. The 2nd most popular length of loans were 15 Year, with 155 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 500 $97,170,000 $194,340
$1k-2k 33 $7,425,000 $225,000
$5k+ 5 $1,695,000 $339,000
$3k-4k 4 $900,000 $225,000
$2k-3k 2 $690,000 $345,000

$2,782 of loans were Hudson Heritage's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 500 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 198 $46,190,000 $233,283
3-4% 128 $30,540,000 $238,594
<2.5% 119 $22,035,000 $185,168
5-6% 39 $2,945,000 $75,513
6-7% 21 $1,355,000 $64,524
Over 8% 16 $1,070,000 $66,875
7-8% 10 $660,000 $66,000
4-5% 7 $1,345,000 $192,143

During 2021, Hudson Heritage's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 2.5-3%, with 198 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 222 $60,980,000 $274,685 $3,180 2.95%
$100k-200k 186 $27,990,000 $150,484 $829 3.08%
$100,000 or less 110 $6,310,000 $57,364 $39 5.42%
$400k-600k 26 $11,810,000 $454,231 $0 2.98%
$600k-1MM 2 $1,270,000 $635,000 $0 3.31%

2021 saw Hudson Heritage place emphasis on $200k-400k loans with 222 originations, totaling $60,980,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 141 $33,415,000 $236,986 $2,639 2.90%
$50k or less 115 $9,775,000 $85,000 $87 5.88%
$75k-100k 113 $22,305,000 $197,389 $3,165 2.82%
$150k-250k 89 $24,955,000 $280,393 $3,855 2.84%
$50k-75k 74 $13,200,000 $178,378 $0 2.87%
$250k+ 14 $4,710,000 $336,429 $2,770 2.94%

Hudson Heritage lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $50k or less, with 115 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 195 $29,015,000 $148,795 $155 4.62%
30-36% 98 $20,650,000 $210,714 $3,780 2.82%
<20% 32 $6,580,000 $205,625 $2,444 2.78%
38% 22 $4,480,000 $203,636 $3,385 2.78%
44% 21 $4,425,000 $210,714 $2,944 2.86%
39% 19 $4,545,000 $239,211 $0 2.84%
36% 19 $4,645,000 $244,474 $0 2.82%
49% 18 $4,070,000 $226,111 $4,417 2.88%
40% 17 $4,965,000 $292,059 $0 2.98%
42% 16 $4,010,000 $250,625 $0 2.78%
43% 14 $4,210,000 $300,714 $0 3.01%
41% 14 $3,070,000 $219,286 $0 2.88%
37% 12 $3,380,000 $281,667 $0 2.93%
47% 11 $2,065,000 $187,727 $0 2.99%
45% 11 $2,445,000 $222,273 $0 3.07%
48% 9 $2,135,000 $237,222 $0 2.97%
50-60% 8 $1,690,000 $211,250 $0 3.28%
46% 5 $955,000 $191,000 $0 2.98%

Hudson Heritage lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 98 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 341 $65,735,000 $192,771 $255 3.66%
Not provided 177 $37,655,000 $212,740 $1,163 3.07%
Black 23 $4,155,000 $180,652 $1,157 4.29%
Asian 3 $415,000 $138,333 $0 2.63%
Chinese 1 $345,000 $345,000 $0 4.38%
Native Hawaiian 1 $55,000 $55,000 $0 10.50%

Approval Rates

Total approvals of all applications
97.76%

Hudson Heritage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
99.93%

Hudson Heritage has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 546 $108,360,000 $198,462

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
546 $108,360,000 $198,462

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 67 $6,755,000 $100,821 $130 4.20%
40-60% 112 $20,980,000 $187,321 $1,335 2.89%
60-80% 200 $49,520,000 $247,600 $2,473 3.00%
80-100% 116 $28,810,000 $248,362 $1,711 3.09%
Under 20% 51 $2,295,000 $45,000 $57 6.78%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Hudson United Mortgage LLC Conventional home mortgage Trouble during payment process 1 100.0%