Fidelity Funding Mortgage Corp. Rates, Fees & Info
Lake Mary, FLLEI: 5493009UERHLQ7BG5D32
Tax ID: 59-3225526
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Fidelity Funding Mortgage Corp. is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Fidelity Funding Mortgage Corp. 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 Orlando, Port St. Lucie, Miami, Tampa, and Deltona among others. Fidelity Funding Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Fidelity Funding Mortgage Corp. is typically an average fee lendor.Originations
666Origination Dollar Volume (All Markets)
$190,500,000Awards
FIDELITY FUNDING MORTGAGE CORP. - 2021
FIDELITY FUNDING MORTGAGE CORP. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Fidelity Funding Mortgage Corp.'s average 30 year fixed rate mortgage of loans were
3.14%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.01%.
Relative Fees
Fidelity Funding Mortgage Corp.'s average total fees for a 30 year fixed rate
mortgage are $5,177.
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 |
|---|---|---|---|---|---|
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 246 | $69,770,000 | $283,618 | $5,023 | 3.07% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 145 | $43,395,000 | $299,276 | $5,364 | 3.05% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 70 | $25,690,000 | $367,000 | $4,855 | 3.17% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 86 | $23,970,000 | $278,721 | $4,958 | 3.16% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 52 | $11,630,000 | $223,654 | $4,890 | 3.09% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 11 | $3,175,000 | $288,636 | $5,968 | 2.85% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 13 | $2,665,000 | $205,000 | $4,515 | 3.23% |
| OCALA, FL (FHA|USDA|VA) | 8 | $1,490,000 | $186,250 | $5,365 | 3.56% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 6 | $1,320,000 | $220,000 | $5,750 | 3.21% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $8,742 | 3.15% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,015,000 | $1,015,000 | $6,945 | 4.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 5 | $825,000 | $165,000 | $4,606 | 3.52% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $2,983 | 3.05% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,679 | 3.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $16,182 | 4.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $6,544 | 5.69% |
| Okeechobee, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $5,136 | 3.33% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,469 | 2.88% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,910 | 2.75% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,053 | 3.25% |
Fidelity Funding Mortgage Corp.'s top markets include Orlando, Port St. Lucie, Miami, Tampa, and Deltona among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 522 | $152,910,000 | $292,931 | $4,465 | 3.19% |
| FHA | 86 | $21,360,000 | $248,372 | $7,560 | 2.92% |
| VA | 40 | $12,110,000 | $302,750 | $7,812 | 2.64% |
| USDA | 18 | $4,120,000 | $228,889 | $5,815 | 2.78% |
For the 2021 period, Fidelity Funding Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 522 originations. Their 2nd most popular type is FHA, with 86 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 383 | $112,315,000 | $293,251 | $5,557 | 3.16% |
| Refi | 149 | $39,005,000 | $261,779 | $3,927 | 2.87% |
| Cash Out Refi | 131 | $38,565,000 | $294,389 | $5,092 | 3.25% |
| Home Improvement | 3 | $615,000 | $205,000 | $5,891 | 2.79% |
For the 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 383 originations. The 2nd most popular reason of loans were Refi, with 149 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 631 | $181,575,000 | $287,758 | $5,177 | 3.14% |
| 15 Year | 28 | $7,230,000 | $258,214 | $3,896 | 2.53% |
| Other | 4 | $790,000 | $197,500 | $3,150 | 3.09% |
| 20 Year | 3 | $905,000 | $301,667 | $3,319 | 2.46% |
For the 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 631 originations. The 2nd most popular length of loans were 15 Year, with 28 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 407 | $101,765,000 | $250,037 |
| $<1k | 149 | $44,405,000 | $298,020 |
| $2k-3k | 47 | $12,285,000 | $261,383 |
| $3k-4k | 34 | $12,760,000 | $375,294 |
| $5k+ | 29 | $19,285,000 | $665,000 |
$5,177 of loans were Fidelity Funding Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 407 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 288 | $90,340,000 | $313,681 |
| 3-4% | 272 | $70,040,000 | $257,500 |
| <2.5% | 65 | $18,455,000 | $283,923 |
| 4-5% | 30 | $8,520,000 | $284,000 |
| 5-6% | 8 | $2,160,000 | $270,000 |
| 6-7% | 2 | $750,000 | $375,000 |
| 7-8% | 1 | $235,000 | $235,000 |
During 2021, Fidelity Funding Mortgage Corp.'s average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 2.5-3%, with 288 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 376 | $105,230,000 | $279,867 | $5,193 | 3.07% |
| $100k-200k | 192 | $30,660,000 | $159,688 | $3,819 | 3.19% |
| $400k-600k | 68 | $32,420,000 | $476,765 | $6,145 | 3.10% |
| $100,000 or less | 15 | $1,275,000 | $85,000 | $3,122 | 3.26% |
| $1MM+ | 10 | $17,120,000 | $1,712,000 | $17,422 | 3.13% |
| $600k-1MM | 5 | $3,795,000 | $759,000 | $14,647 | 2.93% |
2021 saw Fidelity Funding Mortgage Corp. place emphasis on $200k-400k loans with 376 originations, totaling $105,230,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 177 | $41,205,000 | $232,797 | $4,956 | 3.07% |
| $100k-150k | 138 | $41,310,000 | $299,348 | $5,163 | 3.24% |
| $75k-100k | 125 | $34,065,000 | $272,520 | $5,019 | 3.11% |
| $50k or less | 99 | $17,235,000 | $174,091 | $4,184 | 3.05% |
| $150k-250k | 72 | $25,120,000 | $348,889 | $5,405 | 3.12% |
| $250k+ | 45 | $28,635,000 | $636,333 | $7,595 | 3.19% |
Fidelity Funding Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 177 originations. The second most popular income band? $100k-150k, with 138 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 114 | $31,130,000 | $273,070 | $4,652 | 3.14% |
| 20-30% | 110 | $32,320,000 | $293,818 | $4,607 | 3.09% |
| 44% | 41 | $15,625,000 | $381,098 | $6,623 | 3.17% |
| 43% | 35 | $9,215,000 | $263,286 | $4,478 | 3.23% |
| <20% | 33 | $9,045,000 | $274,091 | $4,159 | 3.09% |
| 38% | 31 | $9,045,000 | $291,774 | $5,423 | 3.19% |
| 50-60% | 30 | $7,910,000 | $263,667 | $8,170 | 2.74% |
| 42% | 30 | $7,890,000 | $263,000 | $5,582 | 3.19% |
| 40% | 28 | $7,990,000 | $285,357 | $5,267 | 3.13% |
| 39% | 27 | $7,665,000 | $283,889 | $5,177 | 3.26% |
| 41% | 27 | $9,285,000 | $343,889 | $4,946 | 3.06% |
| 36% | 24 | $5,600,000 | $233,333 | $4,570 | 3.27% |
| 46% | 24 | $7,350,000 | $306,250 | $4,822 | 3.15% |
| 48% | 24 | $6,970,000 | $290,417 | $4,833 | 2.98% |
| 49% | 24 | $6,060,000 | $252,500 | $5,965 | 3.06% |
| 37% | 23 | $5,435,000 | $236,304 | $4,782 | 3.09% |
| 45% | 18 | $4,680,000 | $260,000 | $4,480 | 3.28% |
| 47% | 12 | $4,020,000 | $335,000 | $6,603 | 3.23% |
Fidelity Funding Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 114 originations. The next most common DTI ratio? 20-30%, with 110 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 576 | $165,520,000 | $287,361 | $5,164 | 3.10% |
| Not provided | 33 | $10,095,000 | $305,909 | $5,020 | 3.07% |
| Black | 37 | $9,815,000 | $265,270 | $5,187 | 3.34% |
| Asian | 15 | $3,505,000 | $233,667 | $3,158 | 2.97% |
| American Indian | 5 | $1,565,000 | $313,000 | $3,741 | 2.90% |
Approval Rates
Total approvals of all applications96.42%
Fidelity Funding 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 origination67.56%
Fidelity Funding Mortgage 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 |
|---|---|---|---|
| NA | 666 | $190,500,000 | $286,036 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 666 | $190,500,000 | $286,036 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 23 | $3,915,000 | $170,217 | $3,746 | 3.00% |
| 40-60% | 80 | $24,160,000 | $302,000 | $4,778 | 2.95% |
| 60-80% | 265 | $74,645,000 | $281,679 | $4,532 | 3.18% |
| 80-100% | 288 | $83,650,000 | $290,451 | $5,502 | 3.11% |
| Over 100% | 10 | $4,130,000 | $413,000 | $14,417 | 2.69% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fidelity Direct Mortgage, LLC | FHA mortgage | Closing on a mortgage | 2 | 100.0% |
