Mountain Mortgage Corp. Rates, Fees & Info

Union, NJ

LEI: 54930090M1R8T8VWLU55

Tax ID: 22-2452617

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mountain Mortgage Corp. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Mountain Mortgage Corp. has a high proportion of conventional loans. Their top markets by origination volume include: New York, Trenton, and Atlantic City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mountain Mortgage 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. Mountain Mortgage Corp. is typically an average 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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    Originations

    60

    Origination Dollar Volume (All Markets)

    $29,680,000

    Awards

    MOUNTAIN MORTGAGE CORP. 30 Year Conventional Loans gold MOUNTAIN MORTGAGE CORP. 30 Year Conventional Loans gold
    Show all (2) awards

    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) 57 $28,585,000 $501,491 $5,733 3.84%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $580,000 $290,000 $4,761 3.56%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $515,000 $515,000 $4,347 3.75%
    Mountain Mortgage Corp.'s top markets include New York, Trenton, and Atlantic City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MOUNTAIN MORTGAGE CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Freehold Savings Bank
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231
    Nassau Educators Federal Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 60 $29,680,000 $494,667 $5,678 3.83%

    For 2018, Mountain Mortgage Corp.'s most frequently originated type of loan was Conventional, with 60 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $14,490,000 $452,813 $6,830 4.05%
    Cash Out Refi 20 $10,870,000 $543,500 $4,407 3.58%
    Refi 8 $4,320,000 $540,000 $4,245 3.56%

    For 2018, Mountain Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 52 $26,060,000 $501,154 $5,921 3.89%
    15 Year 6 $2,570,000 $428,333 $4,129 3.13%
    20 Year 2 $1,050,000 $525,000 $4,006 4.20%

    For 2018, Mountain Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 52 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 48 $23,810,000 $496,042
    $1k-2k 7 $4,015,000 $573,571
    $2k-3k 3 $985,000 $328,333
    $3k-4k 1 $225,000 $225,000
    $4k-5k 1 $645,000 $645,000

    Mountain Mortgage Corp.'s average total fees were $5,921, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 36 $18,050,000 $501,389
    4-5% 19 $9,495,000 $499,737
    2.5-3% 5 $2,135,000 $427,000

    During 2018, Mountain Mortgage Corp.'s average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 24 $11,460,000 $477,500 $4,881 3.68%
    $600k-1MM 18 $12,840,000 $713,333 $6,436 3.90%
    $200k-400k 17 $5,205,000 $306,176 $6,006 3.94%
    $100k-200k 1 $175,000 $175,000 $5,558 4.00%

    2018 saw Mountain Mortgage Corp. place emphasis on $400k-600k loans with 24 originations, totaling $11,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 25 $15,535,000 $621,400 $5,778 3.77%
    $150k-250k 18 $8,450,000 $469,444 $5,391 3.92%
    $100k-150k 11 $4,295,000 $390,455 $5,673 3.71%
    $75k-100k 4 $1,000,000 $250,000 $5,329 4.10%
    $50k-75k 1 $225,000 $225,000 $9,884 3.50%
    $50k or less 1 $175,000 $175,000 $5,558 4.00%

    Mountain Mortgage Corp. lent most frequently to those with incomes in the $250k+ range, with 25 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $14,555,000 $539,074 $5,798 3.76%
    30-36% 19 $8,385,000 $441,316 $5,861 3.88%
    36% 3 $1,495,000 $498,333 $5,592 4.21%
    39% 3 $1,785,000 $595,000 $4,563 3.58%
    <20% 2 $1,180,000 $590,000 $4,779 3.38%
    45% 1 $285,000 $285,000 $6,581 4.13%
    47% 1 $175,000 $175,000 $5,558 4.00%
    40% 1 $295,000 $295,000 $4,868 3.88%
    41% 1 $715,000 $715,000 $3,056 3.50%
    42% 1 $505,000 $505,000 $7,618 4.25%
    43% 1 $305,000 $305,000 $5,051 4.38%

    Mountain Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $17,545,000 $501,286 $5,455 3.74%
    Not provided 22 $10,360,000 $470,909 $6,009 4.00%
    Asian 2 $1,300,000 $650,000 $4,263 3.25%
    Black 1 $475,000 $475,000 $9,002 4.15%

    Approval Rates

    Total approvals of all applications
    98.70%

    Mountain Mortgage 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
    75.00%

    Mountain Mortgage Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 60 $29,680,000 $494,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 60 $29,680,000 $494,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 9 $4,555,000 $506,111 $4,890 3.51%
    60-80% 28 $14,830,000 $529,643 $5,519 3.89%
    80-100% 23 $10,295,000 $447,609 $6,180 3.87%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 50.0%