Statewide Federal Credit Union Mortgage Rates, Fees & Info
Flowood, MSLEI: 549300CD29U5MGKVD387
Tax ID: 64-0338438
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Mortgage Data
Review & Overview
Statewide Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Statewide Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Starkville, Hattiesburg, Memphis, and Cleveland among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Statewide Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
21Origination Dollar Volume (All Markets)
$4,085,000Top 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 |
|---|---|---|---|---|---|
| JACKSON, MS (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $0 | 0.00% |
| Starkville, MS (FHA|USDA|VA) | 7 | $1,265,000 | $180,714 | $0 | 0.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| Cleveland, MS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Brookhaven, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $4,085,000 | $194,524 | $0 | 0.00% |
For 2020, Statewide Federal Credit Union's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 9 | $2,095,000 | $232,778 | $0 | 0.00% |
| Cash Out Refi | 9 | $1,495,000 | $166,111 | $0 | 0.00% |
| Home Purchase | 3 | $495,000 | $165,000 | $0 | 0.00% |
For 2020, Statewide Federal Credit Union's most frequently cited loan purpose was Refi, with 9 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 21 | $4,085,000 | $194,524 | $0 | 0.00% |
For 2020, Statewide Federal Credit Union's most frequently cited loan duration was Other, with 21 originations.
Loan Sizing
2020 saw Statewide Federal Credit Union place emphasis on $100k-200k loans with 11 originations, totaling $1,595,000 in origination value.
Applicant Income
Statewide Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 21 | $4,085,000 | $194,524 | $0 | 0.00% |
Statewide Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 21 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 19 | $3,855,000 | $202,895 | $0 | 0.00% |
| Black | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Asian | 1 | $105,000 | $105,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.65%
Statewide Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.24%
Statewide Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 21 | $4,085,000 | $194,524 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 21 | $4,085,000 | $194,524 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Statewide Mortgage, LLC | VA mortgage | Closing on a mortgage | 1 | 100.0% |