Banking Mortgage Services B.m.s. Corp. Rates, Fees & Info
MIAMI, FLLEI: 5493006XEQ3W7XTQXN65
Tax ID: 59-2757098
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Mortgage Data
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 a a high proportion of FHA loans. Their top markets by origination volume include: Miami, Key West, Orlando, Sebastian, and Jacksonville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
234Origination Dollar Volume (All Markets)
$65,900,000Top 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) | 228 | $64,250,000 | $281,798 | $9,637 | 3.32% |
| Key West, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $6,342 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,811 | 3.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,667 | 2.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,197 | 3.38% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 137 | $40,545,000 | $295,949 | $7,824 | 3.31% |
| FHA | 94 | $24,320,000 | $258,723 | $11,817 | 3.32% |
| VA | 3 | $1,035,000 | $345,000 | $16,955 | 3.29% |
For 2020, Banking Mortgage Services B.m.s. Corp.'s most frequently originated type of loan was Conventional, with 137 originations. Their 2nd most popular type was FHA, with 94 originations.
Loan Reason
For 2020, Banking Mortgage Services B.m.s. Corp.'s most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
For 2020, Banking Mortgage Services B.m.s. Corp.'s most frequently cited loan duration was 30 Year, with 228 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Banking Mortgage Services B.m.s. Corp.'s average total fees were $9,632, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 75 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 122 | $33,300,000 | $272,951 |
| 2.5-3% | 79 | $23,865,000 | $302,089 |
| 4-5% | 26 | $6,530,000 | $251,154 |
| <2.5% | 7 | $2,205,000 | $315,000 |
During 2020, Banking Mortgage Services B.m.s. Corp.'s average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 3-4%, with 122 originations.
Loan Sizing
2020 saw Banking Mortgage Services B.m.s. Corp. place emphasis on $200k-400k loans with 160 originations, totaling $45,540,000 in origination value.
Applicant Income
Banking Mortgage Services B.m.s. Corp. lent most frequently to those with incomes in the $50k-75k range, with 100 originations. The second most popular income band? $75k-100k, with 49 originations.
Applicant Debt to Income Ratio
Banking Mortgage Services B.m.s. Corp. lent most frequently to those with DTI ratios of 50-60%, with 43 originations. The next most common DTI ratio? 30-36%, with 36 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 234 | $65,900,000 | $281,624 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 234 | $65,900,000 | $281,624 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANC ONE MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |