Merchants Capital Corp. Mortgage Rates, Fees & Info
Carmel, INLEI: 5493007TLZJ73TKCO730
Tax ID: 35-1805251
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Mortgage Data
Review & Overview
Merchants Capital Corp. is a smaller mortgage company specializing in Refi and Home Purchase loans. They have a a high proportion of FHA loans. Merchants Capital Corp. has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Indianapolis, Chicago, Denver, and Austin among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Merchants Capital Corp. 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. They typically have about average rates.
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Originations
52Origination Dollar Volume (All Markets)
$705,360,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $103,910,000 | $25,977,500 | $0 | 4.24% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 9 | $76,875,000 | $8,541,667 | $0 | 4.19% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $62,905,000 | $20,968,333 | $0 | 3.82% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $60,015,000 | $60,015,000 | $0 | 2.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $44,155,000 | $44,155,000 | $0 | 2.69% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $35,705,000 | $35,705,000 | $0 | 4.24% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $35,005,000 | $35,005,000 | $0 | 2.66% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $33,215,000 | $33,215,000 | $0 | 2.50% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $30,955,000 | $30,955,000 | $0 | 2.37% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $30,345,000 | $30,345,000 | $0 | 4.05% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $26,940,000 | $13,470,000 | $0 | 3.83% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $25,325,000 | $25,325,000 | $0 | 2.61% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $24,325,000 | $24,325,000 | $0 | 4.35% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $17,865,000 | $17,865,000 | $0 | 4.35% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $12,605,000 | $12,605,000 | $0 | 4.25% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $9,425,000 | $9,425,000 | $0 | 4.40% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $9,290,000 | $4,645,000 | $0 | 4.17% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $7,660,000 | $3,830,000 | $0 | 4.62% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $7,305,000 | $7,305,000 | $0 | 4.15% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $6,385,000 | $6,385,000 | $0 | 4.59% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $5,215,000 | $5,215,000 | $0 | 4.17% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $4,605,000 | $4,605,000 | $0 | 4.52% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $4,385,000 | $4,385,000 | $0 | 3.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $4,225,000 | $4,225,000 | $0 | 4.08% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $3,835,000 | $3,835,000 | $0 | 4.59% |
| Logansport, IN (FHA|USDA|VA) | 1 | $3,625,000 | $3,625,000 | $0 | 3.29% |
| TYLER, TX (FHA|USDA|VA) | 1 | $3,315,000 | $3,315,000 | $0 | 4.84% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $2,845,000 | $2,845,000 | $0 | 4.25% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $2,445,000 | $2,445,000 | $0 | 5.55% |
| Cambridge, OH (FHA|USDA|VA) | 2 | $2,420,000 | $1,210,000 | $0 | 4.25% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 3.90% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $2,345,000 | $2,345,000 | $0 | 3.90% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $2,130,000 | $1,065,000 | $0 | 4.97% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $1,355,000 | $1,355,000 | $0 | 4.46% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 37 | $595,935,000 | $16,106,351 | $0 | 3.78% |
| Conventional | 12 | $105,340,000 | $8,778,333 | $0 | 4.72% |
| USDA | 3 | $4,085,000 | $1,361,667 | $0 | 4.61% |
For 2018, Merchants Capital Corp.'s most frequently originated type of loan was FHA, with 37 originations. Their 2nd most popular type was Conventional, with 12 originations.
Loan Reason
For 2018, Merchants Capital Corp.'s most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 13 originations.
Loan Duration/Length
For 2018, Merchants Capital Corp.'s most frequently cited loan duration was 30+ year, with 40 originations. The 2nd most popular length was 10 Year, with 5 originations.
Interest Rates
During 2018, Merchants Capital Corp.'s average interest rate for loans was 4.19%, while their most frequently originated rate bucket for loans was 4-5%, with 30 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 51 | $704,495,000 | $13,813,627 | $0 | 4.05% |
| $600k-1MM | 1 | $865,000 | $865,000 | $0 | 3.75% |
2018 saw Merchants Capital Corp. place emphasis on $1MM+ loans with 51 originations, totaling $704,495,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 52 | $705,360,000 | $13,564,615 | $0 | 4.05% |
Approval Rates
Total approvals of all applications98.81%
Merchants Capital 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 origination71.15%
Merchants Capital Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 52 | $705,360,000 | $13,564,615 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 52 | $705,360,000 | $13,564,615 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| MORGAN STANLEY & CO. LLC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 33.3% |
| MORGAN STANLEY & CO. LLC | Other type of mortgage | Closing on a mortgage | 1 | 33.3% |