Banking Mortgage Services B.m.s. Corp. Rates, Fees & Info

MIAMI, FL

LEI: 5493006XEQ3W7XTQXN65

Tax ID: 59-2757098

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Banking Mortgage Services B.m.s. Corp. is a smaller bank specializing in Home Purchase loans. Banking Mortgage Services B.m.s. Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Miami and Orlando .

    Banking Mortgage Services B.m.s. Corp. has an above average approval rate when compared to the average across all lenders. Banking Mortgage Services B.m.s. Corp. is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.82% 11/21/24
    30 Year Conventional Refi 6.53% 11/21/24
    30 Year Cash-out Refi 7.04% 11/21/24
    30 Year FHA Purchase 7.32% 11/21/24
    30 Year VA Purchase 6.24% 11/21/24
    15 Year Conventional Refi 5.70% 11/21/24
    15 Year Cash-out Refi 5.70% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Banking Mortgage Services B.m.s. Corp. Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Banking Mortgage Services B.m.s. Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    113

    Origination Dollar Volume (All Markets)

    $32,205,000

    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 112 $32,060,000 $286,250 $8,435 4.48%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $145,000 $145,000 $5,111 4.50%
    Banking Mortgage Services B.m.s. Corp.'s top markets include Miami and Orlando among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against BANKING MORTGAGE SERVICES B.M.S. CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    POWER FINANCIAL
    Similarity Rank: 188
    We Florida Financial
    Similarity Rank: 572
    TrustCo Bank
    Similarity Rank: 754
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 755
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 940
    BANKING MORTGAGE SERVICES, B.M.S. CORP.
    Similarity Rank: 1230
    CROSSFIRE FINANCIAL NETWORK, INC.
    Similarity Rank: 1440
    Malvern Bank N.A.
    Similarity Rank: 1548
    Suncoast Credit Union
    Similarity Rank: 1794
    SPACE COAST Credit Union
    Similarity Rank: 1848

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 78 $22,340,000 $286,410 $7,376 4.59%
    FHA 34 $9,640,000 $283,529 $10,916 4.19%
    VA 1 $225,000 $225,000 $3,319 5.13%

    For 2019, Banking Mortgage Services B.m.s. Corp.'s most frequently originated type of loan was Conventional, with 78 originations. Their 2nd most popular type was FHA, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 98 $27,980,000 $285,510 $8,590 4.48%
    Refi 8 $1,840,000 $230,000 $5,334 4.53%
    Cash Out Refi 7 $2,385,000 $340,714 $9,334 4.32%

    For 2019, Banking Mortgage Services B.m.s. Corp.'s most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 112 $31,930,000 $285,089 $8,438 4.49%
    15 Year 1 $275,000 $275,000 $4,774 3.13%

    For 2019, Banking Mortgage Services B.m.s. Corp.'s most frequently cited loan duration was 30 Year, with 112 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 65 $18,755,000 $288,538
    $3k-4k 16 $4,480,000 $280,000
    $2k-3k 9 $2,245,000 $249,444
    $4k-5k 8 $1,910,000 $238,750
    $5k+ 8 $3,100,000 $387,500

    Banking Mortgage Services B.m.s. Corp.'s average total fees were $8,438, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 65 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 70 $20,970,000 $299,571
    3-4% 27 $8,095,000 $299,815
    5-6% 16 $3,140,000 $196,250

    During 2019, Banking Mortgage Services B.m.s. Corp.'s average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $23,835,000 $294,259 $8,895 4.43%
    $100k-200k 18 $2,790,000 $155,000 $5,841 4.78%
    $400k-600k 12 $5,420,000 $451,667 $9,832 4.25%
    $100,000 or less 2 $160,000 $80,000 $3,112 5.18%

    2019 saw Banking Mortgage Services B.m.s. Corp. place emphasis on $200k-400k loans with 81 originations, totaling $23,835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $9,670,000 $254,474 $8,282 4.49%
    $75k-100k 29 $9,205,000 $317,414 $9,479 4.45%
    $100k-150k 22 $7,150,000 $325,000 $7,979 4.45%
    $50k or less 10 $1,670,000 $167,000 $6,920 4.34%
    $150k-250k 7 $2,405,000 $343,571 $10,059 4.54%
    $250k+ 6 $1,800,000 $300,000 $6,493 4.90%

    Banking Mortgage Services B.m.s. Corp. lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $75k-100k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 20 $5,670,000 $283,500 $10,471 4.24%
    30-36% 13 $3,605,000 $277,308 $6,960 4.65%
    20-30% 13 $3,325,000 $255,769 $6,318 4.75%
    47% 7 $1,985,000 $283,571 $10,101 4.13%
    46% 6 $1,550,000 $258,333 $8,310 4.88%
    40% 6 $2,170,000 $361,667 $7,546 4.42%
    44% 6 $1,730,000 $288,333 $9,441 4.38%
    45% 5 $1,565,000 $313,000 $6,556 4.40%
    41% 5 $1,355,000 $271,000 $14,471 4.65%
    42% 5 $1,225,000 $245,000 $7,649 4.53%
    36% 4 $1,280,000 $320,000 $10,774 4.31%
    48% 4 $960,000 $240,000 $7,142 4.25%
    38% 4 $1,600,000 $400,000 $8,768 4.34%
    39% 4 $960,000 $240,000 $5,970 4.88%
    <20% 3 $775,000 $258,333 $6,427 4.42%
    43% 3 $755,000 $251,667 $6,514 5.04%
    49% 2 $540,000 $270,000 $6,005 4.25%
    37% 1 $455,000 $455,000 $8,214 4.13%
    >60% 1 $395,000 $395,000 $6,147 4.38%

    Banking Mortgage Services B.m.s. Corp. lent most frequently to those with DTI ratios of 50-60%, with 20 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $29,490,000 $283,558 $8,294 4.50%
    Black 7 $1,965,000 $280,714 $7,279 4.27%
    Native Hawaiian or Islander 1 $475,000 $475,000 $22,922 3.88%
    Asian 1 $275,000 $275,000 $13,373 4.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    Banking Mortgage Services B.m.s. Corp. 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 113 $32,205,000 $285,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 113 $32,205,000 $285,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $385,000 $385,000 $4,182 3.88%
    40-60% 3 $675,000 $225,000 $7,049 4.38%
    60-80% 33 $9,295,000 $281,667 $8,818 4.52%
    80-100% 75 $21,765,000 $290,200 $8,429 4.45%
    Under 20% 1 $85,000 $85,000 $1,340 5.74%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BOEING EMPLOYEES CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 2 22.2%
    BOEING EMPLOYEES CREDIT UNION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    BOEING EMPLOYEES CREDIT UNION Conventional home mortgage Trouble during payment process 4 44.4%
    BOEING EMPLOYEES CREDIT UNION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 22.2%