Marblehead Bank Mortgage Rates, Fees & Info
MARBLEHEAD, MALEI: 5493007C2UVB2OGY1G25
Tax ID: 04-1580550
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Mortgage Data
Review & Overview
Marblehead Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Marblehead Bank has a high proportion of conventional loans. Their top (well, only) market is Boston.Marblehead Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
112Origination Dollar Volume (All Markets)
$40,230,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 112 | $40,230,000 | $359,196 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 112 | $40,230,000 | $359,196 | $0 | 0.00% |
For 2019, Marblehead Bank's most frequently originated type of loan was Conventional, with 112 originations.
Loan Reason
For 2019, Marblehead Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 112 | $40,230,000 | $359,196 | $0 | 0.00% |
For 2019, Marblehead Bank's most frequently cited loan duration was Other, with 112 originations.
Loan Sizing
2019 saw Marblehead Bank place emphasis on $200k-400k loans with 41 originations, totaling $11,995,000 in origination value.
Applicant Income
Marblehead Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 112 | $40,230,000 | $359,196 | $0 | 0.00% |
Marblehead Bank lent most frequently to those with DTI ratios of Exempt%, with 112 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 95 | $32,355,000 | $340,579 | $0 | 0.00% |
| Not applicable | 17 | $7,875,000 | $463,235 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.08%
Marblehead Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.04%
Marblehead Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 112 | $40,230,000 | $359,196 |