Mortgage World Bankers Rates, Fees & Info
New York, NYLEI: 5493008EBYLPD4MM3C30
Tax ID: 42-1586715
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Mortgage Data
Review & Overview
Mortgage World Bankers is a smaller bank specializing in Home Purchase and Refi loans. Mortgage World Bankers has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Bridgeport, Poughkeepsie, Philadelphia, and Tampa among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage World Bankers has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mortgage World Bankers 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 | 7.01% | 3/25/24 |
| 30 Year Conventional Refi | 7.09% | 3/25/24 |
| 30 Year Cash-out Refi | 6.61% | 3/25/24 |
| 30 Year FHA Purchase | 7.48% | 3/25/24 |
| 30 Year FHA Refi | 7.36% | 3/25/24 |
| 15 Year Conventional Refi | 6.55% | 3/25/24 |
| 15 Year Cash-out Refi | 6.55% | 3/25/24 |
| 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. | ||
Mortgage World Bankers Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mortgage World Bankers. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
269Origination Dollar Volume (All Markets)
$125,105,000Top 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) | 252 | $121,000,000 | $480,159 | $12,410 | 4.69% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $25,305 | 5.06% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $8,961 | 4.06% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $5,582 | 5.67% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,407 | 4.19% |
| Outside of Metro Areas | 2 | $380,000 | $190,000 | $9,147 | 4.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $18,394 | 4.63% |
| Hudson, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,494 | 4.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,624 | 4.63% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,510 | 4.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $8,175 | 4.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,980 | 3.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Mortgage World Bankers 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 | 230 | $109,360,000 | $475,478 | $11,340 | 4.77% |
| FHA | 38 | $15,550,000 | $409,211 | $15,841 | 4.13% |
| FHA | 1 | $195,000 | $195,000 | $0 | 5.64% |
For 2019, Mortgage World Bankers's most frequently originated type of loan was Conventional, with 230 originations. Their 2nd most popular type was FHA, with 38 originations.
Loan Reason
For 2019, Mortgage World Bankers's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Refi, with 60 originations.
Loan Duration/Length
For 2019, Mortgage World Bankers's most frequently cited loan duration was 30 Year, with 243 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Mortgage World Bankers's average total fees were $12,705, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 97 originations.
Interest Rates
During 2019, Mortgage World Bankers's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 128 originations.
Loan Sizing
2019 saw Mortgage World Bankers place emphasis on $400k-600k loans with 98 originations, totaling $48,170,000 in origination value.
Applicant Income
Mortgage World Bankers lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k or less, with 50 originations.
Applicant Debt to Income Ratio
Mortgage World Bankers lent most frequently to those with DTI ratios of 30-36%, with 24 originations. The next most common DTI ratio? 20-30%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.94%
Mortgage World Bankers has an average approval rate.
Pick Rate
Approvals leading to origination77.32%
Mortgage World Bankers has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 269 | $125,105,000 | $465,074 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 269 | $125,105,000 | $465,074 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 360 Mortgage Inc. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |