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 a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Indianapolis, San Antonio, Memphis, and North Port among others. We have data for 28 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.
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Originations
50Origination Dollar Volume (All Markets)
$668,180,000Top 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) | 8 | $197,510,000 | $24,688,750 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 8 | $119,750,000 | $14,968,750 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $69,510,000 | $34,755,000 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $49,955,000 | $49,955,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $36,365,000 | $36,365,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $32,680,000 | $16,340,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $26,405,000 | $26,405,000 | $0 | 0.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $21,405,000 | $21,405,000 | $0 | 0.00% |
| Seymour, IN (FHA|USDA|VA) | 1 | $18,555,000 | $18,555,000 | $0 | 0.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $13,455,000 | $13,455,000 | $0 | 0.00% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $10,675,000 | $10,675,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $8,935,000 | $8,935,000 | $0 | 0.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $7,765,000 | $7,765,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $6,705,000 | $2,235,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $6,500,000 | $3,250,000 | $0 | 0.00% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $6,395,000 | $6,395,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $5,735,000 | $5,735,000 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $4,810,000 | $2,405,000 | $0 | 0.00% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $4,475,000 | $4,475,000 | $0 | 0.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $3,805,000 | $3,805,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $3,605,000 | $3,605,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $3,145,000 | $3,145,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $2,180,000 | $1,090,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $2,175,000 | $2,175,000 | $0 | 0.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $2,110,000 | $1,055,000 | $0 | 0.00% |
| Logansport, IN (FHA|USDA|VA) | 1 | $1,255,000 | $1,255,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $1,185,000 | $1,185,000 | $0 | 0.00% |
| Ottumwa, IA (FHA|USDA|VA) | 1 | $1,135,000 | $1,135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 30 | $425,890,000 | $14,196,333 | $0 | 0.00% |
| Conventional | 17 | $237,425,000 | $13,966,176 | $0 | 0.00% |
| USDA | 3 | $4,865,000 | $1,621,667 | $0 | 0.00% |
For 2019, Merchants Capital Corp.'s most frequently originated type of loan was FHA, with 30 originations. Their 2nd most popular type was Conventional, with 17 originations.
Loan Reason
For 2019, Merchants Capital Corp.'s most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $668,180,000 | $13,363,600 | $0 | 0.00% |
For 2019, Merchants Capital Corp.'s most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 49 | $667,215,000 | $13,616,633 | $0 | 0.00% |
| $600k-1MM | 1 | $965,000 | $965,000 | $0 | 0.00% |
2019 saw Merchants Capital Corp. place emphasis on $1MM+ loans with 49 originations, totaling $667,215,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $668,180,000 | $13,363,600 | $0 | 0.00% |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 50 | $668,180,000 | $13,363,600 | $0 | 0.00% |
Approval Rates
Total approvals of all applications98.77%
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 origination54.00%
Merchants Capital Corp. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $668,180,000 | $13,363,600 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 50 | $668,180,000 | $13,363,600 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Closing on a mortgage | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Incorrect information on your report | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 25.0% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Trouble during payment process | 6 | 50.0% |
| MORGAN STANLEY & CO. LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 8.3% |