Merchants Capital Corp. Mortgage Rates, Fees & Info

Carmel, IN

LEI: 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

50

Origination Dollar Volume (All Markets)

$668,180,000

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
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%
Merchants Capital Corp.'s top markets include New York, Indianapolis, San Antonio, Memphis, and North Port among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 33 $466,835,000 $14,146,515 $0 0.00%
    Home Purchase 13 $160,205,000 $12,323,462 $0 0.00%
    Cash Out Refi 3 $19,735,000 $6,578,333 $0 0.00%
    Home Improvement 1 $21,405,000 $21,405,000 $0 0.00%

    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 applications
    98.77%

    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 origination
    54.00%

    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%