Mortgage Financial Services Rates, Fees & Info

BATON ROUGE, LA

LEI: 5493009F6BJDCZMZ7Y26

Tax ID: 20-8468035

3.5 stars - out of 5 stars, based on 83 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage Financial Services is a small mortgage company specializing in Home Purchase and Refi loans. Mortgage Financial Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Dallas, San Antonio, Houston, Little Rock, and San Angelo among others. Mortgage Financial Services has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Mortgage Financial Services is typically a high fee lendor.


Originations

6,941

Origination Dollar Volume (All Markets)

$1,650,315,000
Show all (16) awards

Relative Rate

Mortgage Financial Services 's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

Mortgage Financial Services 's average total fees for a 30 year fixed rate mortgage are $6,440.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,482 $430,800,000 $290,688 $6,748 3.06%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 638 $178,370,000 $279,577 $7,166 3.01%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 592 $157,140,000 $265,439 $6,476 3.01%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 596 $106,030,000 $177,903 $5,086 3.17%
SAN ANGELO, TX (FHA|USDA|VA) 421 $97,835,000 $232,387 $5,882 2.94%
TYLER, TX (FHA|USDA|VA) 369 $80,775,000 $218,902 $7,609 2.99%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 208 $67,860,000 $326,250 $6,085 2.89%
LAREDO, TX (FHA|USDA|VA) 278 $62,540,000 $224,964 $7,414 2.92%
TEXARKANA, TX-AR (FHA|USDA|VA) 288 $53,990,000 $187,465 $5,443 3.00%
Outside of Metro Areas 283 $52,225,000 $184,541 $5,667 3.12%
BATON ROUGE, LA (FHA|USDA|VA) 192 $42,150,000 $219,531 $6,261 3.00%
ABILENE, TX (FHA|USDA|VA) 186 $41,440,000 $222,796 $4,971 3.03%
PINE BLUFF, AR (FHA|USDA|VA) 199 $30,805,000 $154,799 $5,004 3.17%
LAFAYETTE, LA (FHA|USDA|VA) 147 $29,155,000 $198,333 $5,748 3.19%
LONGVIEW, TX (FHA|USDA|VA) 127 $26,905,000 $211,850 $6,706 3.16%
LAKE CHARLES, LA (FHA|USDA|VA) 101 $20,715,000 $205,099 $6,825 3.22%
Searcy, AR (FHA|USDA|VA) 114 $19,900,000 $174,561 $4,848 3.04%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 57 $13,385,000 $234,825 $5,795 3.02%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 61 $12,755,000 $209,098 $5,010 3.15%
EL PASO, TX (FHA|USDA|VA) 64 $11,890,000 $185,781 $5,232 2.96%
CORPUS CHRISTI, TX (FHA|USDA|VA) 26 $6,850,000 $263,462 $6,115 3.18%
Athens, TX (FHA|USDA|VA) 34 $6,490,000 $190,882 $6,158 2.95%
DeRidder, LA (FHA|USDA|VA) 25 $5,575,000 $223,000 $4,647 3.17%
Opelousas, LA (FHA|USDA|VA) 36 $4,940,000 $137,222 $5,066 3.22%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 28 $4,870,000 $173,929 $6,779 2.82%
SHERMAN-DENISON, TX (FHA|USDA|VA) 19 $4,335,000 $228,158 $6,904 3.03%
Gainesville, TX (FHA|USDA|VA) 16 $4,090,000 $255,625 $6,390 2.93%
Jacksonville, TX (FHA|USDA|VA) 18 $4,010,000 $222,778 $8,705 2.96%
Fort Polk South, LA (FHA|USDA|VA) 19 $3,715,000 $195,526 $4,600 3.03%
KNOXVILLE, TN (FHA|USDA|VA) 13 $3,185,000 $245,000 $2,005 2.99%
Granbury, TX (FHA|USDA|VA) 10 $3,120,000 $312,000 $6,251 3.39%
Jennings, LA (FHA|USDA|VA) 17 $2,915,000 $171,471 $5,468 3.22%
LUBBOCK, TX (FHA|USDA|VA) 15 $2,685,000 $179,000 $4,298 2.88%
HAMMOND, LA (FHA|USDA|VA) 14 $2,490,000 $177,857 $4,475 3.09%
ALEXANDRIA, LA (FHA|USDA|VA) 13 $2,485,000 $191,154 $5,104 3.03%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 12 $2,330,000 $194,167 $5,274 3.08%
MIDLAND, TX (FHA|USDA|VA) 8 $2,310,000 $288,750 $6,187 3.13%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 9 $2,105,000 $233,889 $4,629 2.97%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 12 $2,050,000 $170,833 $6,436 3.24%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $1,995,000 $221,667 $6,545 3.17%
Nacogdoches, TX (FHA|USDA|VA) 9 $1,965,000 $218,333 $5,760 3.15%
OKLAHOMA CITY, OK (FHA|USDA|VA) 9 $1,925,000 $213,889 $3,895 2.87%
WACO, TX (FHA|USDA|VA) 7 $1,895,000 $270,714 $3,937 2.82%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 9 $1,825,000 $202,778 $7,932 3.15%
Bonham, TX (FHA|USDA|VA) 8 $1,760,000 $220,000 $6,851 3.26%
HOT SPRINGS, AR (FHA|USDA|VA) 7 $1,665,000 $237,857 $4,304 3.16%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,620,000 $810,000 $10,307 3.25%
Mount Pleasant, TX (FHA|USDA|VA) 6 $1,430,000 $238,333 $6,540 3.27%
Palestine, TX (FHA|USDA|VA) 7 $1,295,000 $185,000 $7,315 2.95%
Fredericksburg, TX (FHA|USDA|VA) 3 $1,095,000 $365,000 $7,784 3.00%
WICHITA FALLS, TX (FHA|USDA|VA) 6 $1,050,000 $175,000 $5,324 3.00%
Sulphur Springs, TX (FHA|USDA|VA) 5 $1,025,000 $205,000 $5,678 3.15%
Paris, TX (FHA|USDA|VA) 6 $1,020,000 $170,000 $5,139 2.92%
El Campo, TX (FHA|USDA|VA) 4 $970,000 $242,500 $5,980 2.69%
TULSA, OK (FHA|USDA|VA) 3 $965,000 $321,667 $6,202 3.16%
Natchez, MS-LA (FHA|USDA|VA) 7 $915,000 $130,714 $6,077 3.27%
ODESSA, TX (FHA|USDA|VA) 4 $880,000 $220,000 $7,244 3.28%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $860,000 $430,000 $2,985 2.44%
Port Lavaca, TX (FHA|USDA|VA) 3 $855,000 $285,000 $8,628 2.63%
MONROE, LA (FHA|USDA|VA) 4 $800,000 $200,000 $6,736 2.81%
Kerrville, TX (FHA|USDA|VA) 4 $800,000 $200,000 $6,134 3.22%
Beeville, TX (FHA|USDA|VA) 3 $705,000 $235,000 $11,656 2.79%
Corsicana, TX (FHA|USDA|VA) 3 $685,000 $228,333 $3,772 3.14%
Mineral Wells, TX (FHA|USDA|VA) 3 $675,000 $225,000 $7,609 2.58%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $530,000 $265,000 $9,490 2.56%
AMARILLO, TX (FHA|USDA|VA) 2 $520,000 $260,000 $3,411 2.81%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $500,000 $250,000 $8,040 4.00%
Brenham, TX (FHA|USDA|VA) 2 $480,000 $240,000 $6,908 2.81%
Stephenville, TX (FHA|USDA|VA) 2 $440,000 $220,000 $3,429 3.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 2 $420,000 $210,000 $3,850 3.00%
Rockport, TX (FHA|USDA|VA) 1 $415,000 $415,000 $8,740 2.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $405,000 $405,000 $3,468 2.99%
Helena-West Helena, AR (FHA|USDA|VA) 3 $395,000 $131,667 $3,114 2.88%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $395,000 $395,000 $6,482 2.63%
Snyder, TX (FHA|USDA|VA) 1 $375,000 $375,000 $4,133 3.38%
Sweetwater, TX (FHA|USDA|VA) 2 $370,000 $185,000 $5,942 3.04%
Arkadelphia, AR (FHA|USDA|VA) 3 $355,000 $118,333 $5,162 3.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $10,327 2.38%
Del Rio, TX (FHA|USDA|VA) 1 $335,000 $335,000 $12,561 2.75%
Hope, AR (FHA|USDA|VA) 2 $330,000 $165,000 $4,712 2.88%
Brownwood, TX (FHA|USDA|VA) 2 $320,000 $160,000 $5,067 3.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $315,000 $315,000 $6,197 3.25%
Zapata, TX (FHA|USDA|VA) 2 $300,000 $150,000 $4,273 3.25%
VICTORIA, TX (FHA|USDA|VA) 1 $285,000 $285,000 $10,033 3.25%
Bay City, TX (FHA|USDA|VA) 2 $280,000 $140,000 $4,048 3.35%
Key West, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,663 2.25%
Arcadia, FL (FHA|USDA|VA) 1 $265,000 $265,000 $2,641 2.63%
Russellville, AR (FHA|USDA|VA) 2 $260,000 $130,000 $3,139 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $255,000 $255,000 $5,227 4.13%
Batesville, AR (FHA|USDA|VA) 1 $255,000 $255,000 $8,857 3.25%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,407 2.99%
Paragould, AR (FHA|USDA|VA) 2 $240,000 $120,000 $2,801 3.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,966 3.00%
Malvern, AR (FHA|USDA|VA) 2 $230,000 $115,000 $4,108 3.31%
Natchitoches, LA (FHA|USDA|VA) 1 $225,000 $225,000 $9,127 2.75%
Lamesa, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,599 3.00%
Forrest City, AR (FHA|USDA|VA) 2 $210,000 $105,000 $4,223 3.00%
Shawnee, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,910 2.88%
Lake City, FL (FHA|USDA|VA) 1 $195,000 $195,000 $6,521 3.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $185,000 $185,000 $6,676 3.63%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $175,000 $175,000 $2,626 3.25%
MOBILE, AL (FHA|USDA|VA) 1 $165,000 $165,000 $1,641 3.50%
Picayune, MS (FHA|USDA|VA) 1 $155,000 $155,000 $4,851 3.38%
Bogalusa, LA (FHA|USDA|VA) 1 $145,000 $145,000 $3,834 2.75%
Borger, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,984 3.25%
JONESBORO, AR (FHA|USDA|VA) 1 $95,000 $95,000 $5,582 3.00%

Mortgage Financial Services 's top markets include Dallas, San Antonio, Houston, Little Rock, and San Angelo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,165 $1,034,005,000 $248,261 $5,363 3.04%
FHA 1,772 $369,610,000 $208,584 $8,116 3.12%
VA 595 $176,435,000 $296,529 $7,461 2.88%
USDA 409 $70,265,000 $171,797 $5,320 3.00%

For the 2021 period, Mortgage Financial Services 's most frequently originated loan type of loans were Conventional, with 4,165 originations. Their 2nd most popular type is FHA, with 1,772 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 4,722 $1,103,930,000 $233,784 $6,699 3.10%
Refi 1,458 $353,230,000 $242,270 $4,893 2.81%
Cash Out Refi 761 $193,155,000 $253,817 $5,997 3.15%

For the 2021, Mortgage Financial Services 's most frequently cited loan purpose of loans were Home Purchase, with 4,722 originations. The 2nd most popular reason of loans were Refi, with 1,458 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 6,178 $1,493,590,000 $241,759 $6,440 3.10%
15 Year 474 $99,190,000 $209,262 $4,849 2.52%
20 Year 153 $35,855,000 $234,346 $5,076 2.83%
10 Year 69 $6,385,000 $92,536 $2,156 2.78%
Other 67 $15,295,000 $228,284 $4,807 2.88%

For the 2021, Mortgage Financial Services 's most frequently cited loan length of loans were 30 Year, with 6,178 originations. The 2nd most popular length of loans were 15 Year, with 474 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 3,256 $748,570,000 $229,905
$<1k 1,295 $299,305,000 $231,124
$2k-3k 1,076 $239,640,000 $222,714
$3k-4k 773 $184,595,000 $238,803
$5k+ 540 $178,090,000 $329,796

$6,440 of loans were Mortgage Financial Services 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,256 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 3,025 $745,935,000 $246,590
3-4% 2,941 $663,755,000 $225,690
<2.5% 829 $212,115,000 $255,869
4-5% 144 $28,180,000 $195,694
5-6% 1 $215,000 $215,000

During 2021, Mortgage Financial Services 's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 2.5-3%, with 3,025 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 3,234 $887,990,000 $274,579 $7,001 3.02%
$100k-200k 2,677 $422,975,000 $158,003 $5,172 3.08%
$400k-600k 589 $279,285,000 $474,168 $8,162 2.94%
$100,000 or less 402 $29,760,000 $74,030 $3,761 3.18%
$600k-1MM 32 $22,130,000 $691,563 $12,887 3.12%
$1MM+ 7 $8,175,000 $1,167,857 $15,988 3.23%

2021 saw Mortgage Financial Services place emphasis on $200k-400k loans with 3,234 originations, totaling $887,990,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,884 $372,690,000 $197,818 $6,243 3.08%
$100k-150k 1,436 $396,520,000 $276,128 $6,388 3.03%
$75k-100k 1,253 $297,705,000 $237,594 $6,275 3.04%
$50k or less 1,238 $193,440,000 $156,252 $5,430 3.06%
$150k-250k 847 $284,725,000 $336,157 $7,074 3.02%
$250k+ 235 $90,865,000 $386,660 $7,001 2.97%

Mortgage Financial Services lent most frequently to those with incomes in the $50k-75k range, with 1,884 originations. The second most popular income band? $100k-150k, with 1,436 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,347 $318,275,000 $236,284 $5,633 2.97%
30-36% 1,248 $288,060,000 $230,817 $6,021 3.04%
50-60% 516 $122,910,000 $238,198 $8,297 3.08%
<20% 377 $86,615,000 $229,748 $5,227 2.94%
44% 283 $69,335,000 $245,000 $6,542 3.08%
40% 274 $64,170,000 $234,197 $6,124 3.13%
42% 273 $65,455,000 $239,762 $6,372 3.15%
39% 266 $65,660,000 $246,842 $6,504 3.11%
38% 261 $60,195,000 $230,632 $6,147 3.07%
41% 249 $56,845,000 $228,293 $6,560 3.06%
37% 245 $56,965,000 $232,510 $6,034 3.11%
36% 237 $53,995,000 $227,827 $6,031 3.06%
43% 237 $59,795,000 $252,300 $6,620 3.14%
45% 225 $54,245,000 $241,089 $6,571 3.11%
47% 199 $50,805,000 $255,302 $6,897 3.08%
46% 181 $45,975,000 $254,006 $6,867 3.09%
49% 178 $43,600,000 $244,944 $7,056 3.10%
48% 175 $41,625,000 $237,857 $6,523 3.11%
>60% 3 $1,575,000 $525,000 $16,424 2.88%

Mortgage Financial Services lent most frequently to those with DTI ratios of 20-30%, with 1,347 originations. The next most common DTI ratio? 30-36%, with 1,248 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 5,142 $1,233,120,000 $239,813 $6,178 3.03%
Not provided 796 $191,000,000 $239,950 $6,590 3.07%
Black 787 $167,825,000 $213,247 $6,397 3.15%
Asian 142 $40,000,000 $281,690 $6,385 3.07%
American Indian 41 $8,775,000 $214,024 $6,082 3.16%
Not applicable 17 $5,265,000 $309,706 $1,374 3.01%
Native Hawaiian 10 $3,000,000 $300,000 $7,349 3.00%
Other Asian 2 $510,000 $255,000 $6,387 2.75%
Asian Indian 2 $380,000 $190,000 $4,167 2.75%
Japanese 1 $275,000 $275,000 $6,609 2.63%
Korean 1 $165,000 $165,000 $3,370 2.75%

Approval Rates

Total approvals of all applications
97.31%

Mortgage Financial Services 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
93.32%

Mortgage Financial Services has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 6,941 $1,650,315,000 $237,763

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,941 $1,650,315,000 $237,763

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 152 $26,150,000 $172,039 $4,701 2.74%
40-60% 540 $127,470,000 $236,056 $5,056 2.78%
60-80% 1,777 $447,765,000 $251,978 $5,526 3.07%
80-100% 4,229 $998,565,000 $236,123 $6,619 3.08%
Over 100% 191 $47,785,000 $250,183 $10,319 2.99%
Under 20% 45 $1,575,000 $35,000 $1,111 2.99%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MORTGAGE MASTER SERVICE CORPORATION FHA mortgage Closing on a mortgage 1 100.0%