Federated Mortgage Corp. Rates, Fees & Info

PITTSBURGH, PA

LEI: 5493009RSCJ6Y7LUWJ31

Tax ID: 75-3036920

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Federated Mortgage Corp. is a smaller mortgage company specializing in Refi and Home Purchase loans. Federated Mortgage Corp. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Pittsburgh, Washington, Baltimore, Philadelphia, and New York among others. Federated Mortgage Corp. 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.


Originations

1,275

Origination Dollar Volume (All Markets)

$376,485,000

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSBURGH, PA (FHA|USDA|VA) 531 $120,275,000 $226,507 $4,108 2.74%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 181 $71,245,000 $393,619 $2,454 2.43%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 144 $53,380,000 $370,694 $2,463 2.41%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 77 $22,995,000 $298,636 $2,927 2.57%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 57 $19,605,000 $343,947 $2,949 2.41%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 16 $8,170,000 $510,625 $2,681 2.63%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 16 $7,050,000 $440,625 $2,618 2.55%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 22 $5,850,000 $265,909 $3,249 2.65%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 21 $5,615,000 $267,381 $3,029 2.87%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 14 $4,670,000 $333,571 $2,063 2.90%
RICHMOND, VA (FHA|USDA|VA) 16 $4,640,000 $290,000 $2,252 2.80%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 12 $4,190,000 $349,167 $2,308 2.66%
Outside of Metro Areas 13 $3,835,000 $295,000 $2,897 2.80%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $3,610,000 $601,667 $2,559 2.79%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $3,155,000 $286,818 $2,891 2.60%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 11 $3,135,000 $285,000 $2,457 2.85%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $3,070,000 $307,000 $2,399 2.79%
JACKSONVILLE, FL (FHA|USDA|VA) 10 $2,950,000 $295,000 $3,642 2.63%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 8 $2,190,000 $273,750 $2,800 2.48%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 9 $2,175,000 $241,667 $3,463 2.97%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,885,000 $377,000 $1,381 2.72%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,805,000 $601,667 $3,476 3.17%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $1,325,000 $265,000 $4,782 2.55%
LANCASTER, PA (FHA|USDA|VA) 4 $1,190,000 $297,500 $3,470 2.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 7 $1,185,000 $169,286 $2,431 2.66%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $1,040,000 $520,000 $2,565 2.56%
FRESNO, CA (FHA|USDA|VA) 5 $985,000 $197,000 $1,923 2.60%
SALINAS, CA (FHA|USDA|VA) 3 $985,000 $328,333 $2,964 2.96%
STOCKTON, CA (FHA|USDA|VA) 2 $930,000 $465,000 $2,707 2.38%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 5 $835,000 $167,000 $5,435 2.78%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $830,000 $415,000 $3,124 2.68%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $810,000 $405,000 $3,948 3.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $770,000 $385,000 $3,103 2.44%
COLUMBUS, OH (FHA|USDA|VA) 3 $725,000 $241,667 $5,993 3.54%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $715,000 $238,333 $2,219 2.71%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $695,000 $231,667 $1,663 2.58%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $650,000 $325,000 $2,557 2.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $590,000 $295,000 $3,806 3.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $520,000 $260,000 $3,158 2.19%
Meadville, PA (FHA|USDA|VA) 2 $490,000 $245,000 $5,023 3.00%
New Castle, PA (FHA|USDA|VA) 3 $475,000 $158,333 $4,892 2.96%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $425,000 $425,000 $1,450 1.99%
CHICO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $3,125 2.50%
YUBA CITY, CA (FHA|USDA|VA) 1 $375,000 $375,000 $3,750 2.63%
MODESTO, CA (FHA|USDA|VA) 1 $345,000 $345,000 $1,425 2.99%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $3,750 2.50%
DuBois, PA (FHA|USDA|VA) 1 $305,000 $305,000 $3,125 2.13%
TOLEDO, OH (FHA|USDA|VA) 1 $285,000 $285,000 $2,100 2.63%
Somerset, PA (FHA|USDA|VA) 1 $265,000 $265,000 $3,750 2.63%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,339 2.88%
AKRON, OH (FHA|USDA|VA) 1 $235,000 $235,000 $3,488 3.38%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,760 3.50%
Sayre, PA (FHA|USDA|VA) 1 $225,000 $225,000 $4,785 2.75%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $215,000 $215,000 $3,750 2.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $205,000 $205,000 $3,125 2.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $185,000 $185,000 $2,550 2.13%
Red Bluff, CA (FHA|USDA|VA) 1 $175,000 $175,000 $1,885 2.25%
Oil City, PA (FHA|USDA|VA) 1 $155,000 $155,000 $5,976 2.38%
WILMINGTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,458 2.00%
REDDING, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,750 2.38%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $115,000 $115,000 $5,798 2.75%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,850 4.75%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $85,000 $85,000 $4,110 3.38%
Ashtabula, OH (FHA|USDA|VA) 1 $85,000 $85,000 $2,645 3.88%

Federated Mortgage Corp.'s top markets include Pittsburgh, Washington, Baltimore, Philadelphia, and New York among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,199 $360,305,000 $300,505 $3,136 2.63%
FHA 53 $10,185,000 $192,170 $6,203 2.79%
VA 19 $5,405,000 $284,474 $4,996 2.51%
USDA 4 $590,000 $147,500 $5,992 2.84%

For the 2021 period, Federated Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 1,199 originations. Their 2nd most popular type is FHA, with 53 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 653 $200,885,000 $307,634 $2,756 2.47%
Home Purchase 412 $113,250,000 $274,879 $4,304 2.85%
Cash Out Refi 210 $62,350,000 $296,905 $3,042 2.69%

For the 2021, Federated Mortgage Corp.'s most frequently cited loan purpose of loans were Refi, with 653 originations. The 2nd most popular reason of loans were Home Purchase, with 412 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 1,275 $376,485,000 $295,282 $3,301 2.63%

For the 2021, Federated Mortgage Corp.'s most frequently cited loan length of loans were Other, with 1,275 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 942 $256,670,000 $272,473
$<1k 299 $111,945,000 $374,398
$2k-3k 23 $4,995,000 $217,174
$3k-4k 9 $2,105,000 $233,889
$5k+ 2 $770,000 $385,000

$0 of loans were Federated Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 942 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 592 $185,780,000 $313,818
2.5-3% 528 $155,710,000 $294,905
3-4% 147 $33,995,000 $231,259
4-5% 8 $1,000,000 $125,000

During 2021, Federated Mortgage Corp.'s average interest rate of loans were 0.00%, while their most frequently originated rate bucket of loans were <2.5%, with 592 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 634 $182,690,000 $288,155 $3,309 2.58%
$100k-200k 314 $48,200,000 $153,503 $3,623 2.76%
$400k-600k 265 $125,365,000 $473,075 $2,869 2.51%
$100,000 or less 39 $3,105,000 $79,615 $3,589 3.14%
$600k-1MM 22 $15,990,000 $726,818 $3,141 2.75%
$1MM+ 1 $1,135,000 $1,135,000 $2,565 2.75%

2021 saw Federated Mortgage Corp. place emphasis on $200k-400k loans with 634 originations, totaling $182,690,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 425 $131,255,000 $308,835 $3,066 2.55%
$150k-250k 327 $114,065,000 $348,823 $3,157 2.61%
$75k-100k 185 $47,725,000 $257,973 $3,560 2.66%
$50k-75k 152 $28,600,000 $188,158 $3,882 2.77%
$250k+ 103 $42,215,000 $409,854 $3,032 2.63%
$50k or less 81 $11,985,000 $147,963 $3,776 2.83%

Federated Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 425 originations. The second most popular income band? $150k-250k, with 327 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 431 $129,785,000 $301,125 $3,207 2.57%
30-36% 261 $83,655,000 $320,517 $3,099 2.60%
<20% 183 $46,525,000 $254,235 $3,221 2.59%
36% 39 $12,605,000 $323,205 $3,670 2.67%
40% 35 $10,195,000 $291,286 $3,013 2.66%
38% 34 $9,470,000 $278,529 $3,506 2.80%
37% 31 $10,185,000 $328,548 $3,477 2.66%
41% 30 $9,560,000 $318,667 $3,117 2.74%
42% 29 $7,905,000 $272,586 $3,605 2.77%
39% 28 $8,090,000 $288,929 $3,259 2.71%
43% 28 $8,240,000 $294,286 $3,605 2.75%
44% 28 $7,780,000 $277,857 $3,762 2.85%
45% 24 $6,960,000 $290,000 $3,859 2.78%
46% 21 $5,915,000 $281,667 $3,103 2.73%
49% 20 $5,880,000 $294,000 $3,646 2.67%
50-60% 17 $4,195,000 $246,765 $5,685 2.87%
48% 14 $3,540,000 $252,857 $4,085 2.80%
47% 11 $3,015,000 $274,091 $3,412 2.62%
>60% 8 $2,060,000 $257,500 $3,540 2.39%

Federated Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 431 originations. The next most common DTI ratio? 30-36%, with 261 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 711 $179,635,000 $252,651 $3,726 2.70%
Asian 426 $153,920,000 $361,315 $2,724 2.48%
Not provided 67 $19,335,000 $288,582 $2,890 2.77%
Asian Indian 30 $11,430,000 $381,000 $2,246 2.62%
Black 30 $8,970,000 $299,000 $3,764 2.96%
Filipino 3 $985,000 $328,333 $1,748 2.71%
Not applicable 2 $830,000 $415,000 $2,065 2.81%
Native Hawaiian 2 $520,000 $260,000 $2,600 2.37%
American Indian 2 $390,000 $195,000 $3,418 2.63%
Korean 1 $265,000 $265,000 $3,125 2.88%
Other Asian 1 $205,000 $205,000 $940 2.88%

Approval Rates

Total approvals of all applications
98.22%

Federated 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
93.85%

Federated Mortgage Corp. has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
11290.02 1 $565,000 $565,000
4670.0 1 $455,000 $455,000
5837.5 1 $365,000 $365,000
6080.0 1 $265,000 $265,000
9578.22 1 $345,000 $345,000
NA 1,270 $374,490,000 $294,874

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,275 $376,485,000 $295,282

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 68 $15,960,000 $234,706 $2,593 2.50%
40-60% 282 $82,270,000 $291,738 $2,723 2.43%
60-80% 542 $170,510,000 $314,594 $3,107 2.64%
80-100% 374 $106,030,000 $283,503 $4,121 2.78%
Over 100% 2 $470,000 $235,000 $9,718 3.00%
Under 20% 7 $1,245,000 $177,857 $2,854 3.16%