Mlb Residential Lending Mortgage Rates, Fees & Info

SPRINGFIELD, NJ

LEI: 549300DW87L2IZ7ZHF47

Tax ID: 46-2738255

1 stars - out of 5 stars, based on 39 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Mlb Residential Lending is a smaller mortgage company specializing in loans. Mlb Residential Lending has a high proportion of conventional loans. They have a a high proportion of FHA 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 by origination volume include: New York, Philadelphia, Allentown, Miami, and Poughkeepsie among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mlb Residential Lending 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. Mlb Residential Lending is typically a high 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.98% 10/3/22
    30 Year Conventional Refi 6.70% 10/3/22
    30 Year Cash-out Refi 7.03% 10/3/22
    30 Year FHA Purchase 7.64% 10/3/22
    30 Year FHA Refi 7.40% 10/3/22
    30 Year VA Purchase 6.84% 10/3/22
    30 Year VA Refi 6.11% 10/3/22
    30 Year USDA Purchase 7.59% 10/3/22
    15 Year Conventional Purchase 6.54% 10/3/22
    15 Year Conventional Refi 6.60% 10/3/22
    15 Year Cash-out Refi 6.60% 10/3/22
    15 Year FHA Purchase 5.96% 10/3/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    1,557

    Origination Dollar Volume (All Markets)

    $538,965,000

    Relative Rate

    Mlb Residential Lending 's average 30 year fixed mortgage rate was 3.29%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.14%.

    Relative Fees (Closing Costs)

    Mlb Residential Lending 's average total fees/closing costs for a 30 year fixed rate mortgage were $11,232.

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

    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) 1,245 $460,825,000 $370,141 $11,449 3.24%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 103 $27,455,000 $266,553 $9,382 3.34%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 25 $6,735,000 $269,400 $9,435 3.15%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 20 $5,680,000 $284,000 $7,651 3.19%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 19 $5,425,000 $285,526 $10,131 3.41%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 17 $4,135,000 $243,235 $9,717 3.30%
    Plattsburgh, NY (FHA|USDA|VA) 22 $3,710,000 $168,636 $7,231 3.21%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 13 $3,705,000 $285,000 $7,567 3.17%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 16 $3,240,000 $202,500 $8,208 3.51%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 11 $2,305,000 $209,545 $7,414 3.22%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $2,130,000 $355,000 $8,893 3.38%
    READING, PA (FHA|USDA|VA) 8 $1,470,000 $183,750 $9,985 3.09%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 9 $1,445,000 $160,556 $8,792 3.32%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $985,000 $328,333 $10,660 3.46%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $780,000 $390,000 $8,745 3.19%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $715,000 $238,333 $11,885 3.08%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $695,000 $231,667 $7,636 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $670,000 $335,000 $7,899 3.29%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $660,000 $330,000 $9,704 3.87%
    UTICA-ROME, NY (FHA|USDA|VA) 3 $615,000 $205,000 $9,264 3.38%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $580,000 $290,000 $6,620 3.25%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $550,000 $275,000 $10,067 3.38%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $520,000 $260,000 $9,534 3.69%
    Outside of Metro Areas 2 $460,000 $230,000 $8,275 3.06%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 3 $435,000 $145,000 $6,979 3.75%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $360,000 $180,000 $5,959 4.19%
    DOVER, DE (FHA|USDA|VA) 1 $355,000 $355,000 $12,368 2.75%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $315,000 $315,000 $10,336 2.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $305,000 $305,000 $8,742 3.50%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $305,000 $305,000 $10,164 3.38%
    Amsterdam, NY (FHA|USDA|VA) 1 $265,000 $265,000 $13,508 3.88%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $265,000 $265,000 $5,282 3.25%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $235,000 $235,000 $10,137 2.50%
    Gloversville, NY (FHA|USDA|VA) 2 $190,000 $95,000 $7,491 3.25%
    Oneonta, NY (FHA|USDA|VA) 1 $185,000 $185,000 $10,003 3.25%
    Malone, NY (FHA|USDA|VA) 1 $135,000 $135,000 $6,419 3.75%
    Pottsville, PA (FHA|USDA|VA) 1 $125,000 $125,000 $5,258 3.13%

    Mlb Residential Lending 's top markets include New York, Philadelphia, Allentown, Miami, and Poughkeepsie among others.

    Similar Lenders

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

    FIRST NEW YORK
    Similarity Rank: 63
    N C P D Federal Credit Union
    Similarity Rank: 102
    Bank of Richmondville
    Similarity Rank: 141
    HUDSON RIVER COMMUNITY
    Similarity Rank: 162
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    MID-HUDSON VALLEY
    Similarity Rank: 448
    BHCU
    Similarity Rank: 504

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 996 $330,370,000 $331,697 $8,627 3.29%
    FHA 528 $196,950,000 $373,011 $15,183 3.18%
    VA 25 $9,235,000 $369,400 $13,275 3.04%
    FHA 5 $2,035,000 $407,000 $0 3.19%
    USDA 3 $375,000 $125,000 $7,526 3.42%

    For 2021, Mlb Residential Lending 's most frequently originated type of loan was Conventional, with 996 originations. Their 2nd most popular type was FHA, with 528 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 966 $351,220,000 $363,582 $12,004 3.28%
    Refi 336 $103,950,000 $309,375 $8,031 3.03%
    Cash Out Refi 255 $83,795,000 $328,608 $10,659 3.41%

    For 2021, Mlb Residential Lending 's most frequently cited loan purpose was Home Purchase, with 966 originations. The 2nd most popular reason was Refi, with 336 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,423 $499,445,000 $350,980 $11,232 3.29%
    15 Year 70 $20,380,000 $291,143 $7,256 2.72%
    20 Year 37 $10,375,000 $280,405 $7,619 2.91%
    Other 23 $8,105,000 $352,391 $9,295 3.20%
    10 Year 4 $660,000 $165,000 $6,091 2.38%

    For 2021, Mlb Residential Lending 's most frequently cited loan duration was 30 Year, with 1,423 originations. The 2nd most popular length was 15 Year, with 70 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 668 $264,390,000 $395,793
    $1k-2k 361 $125,315,000 $347,133
    $3k-4k 179 $51,295,000 $286,564
    $2k-3k 159 $42,675,000 $268,396
    $4k-5k 155 $43,655,000 $281,645
    $<1k 15 $4,965,000 $331,000

    Mlb Residential Lending 's average total fees were $11,232, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 668 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 915 $319,705,000 $349,404
    2.5-3% 475 $162,845,000 $342,832
    <2.5% 88 $30,660,000 $348,409
    4-5% 59 $19,855,000 $336,525
    5-6% 10 $2,660,000 $266,000
    6-7% 10 $3,240,000 $324,000

    During 2021, Mlb Residential Lending 's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 915 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 841 $254,185,000 $302,241 $9,755 3.25%
    $400k-600k 402 $191,770,000 $477,040 $13,877 3.23%
    $100k-200k 220 $34,690,000 $157,682 $6,819 3.29%
    $600k-1MM 81 $57,165,000 $705,741 $20,403 3.23%
    $100,000 or less 13 $1,155,000 $88,846 $5,688 3.29%

    2021 saw Mlb Residential Lending place emphasis on $200k-400k loans with 841 originations, totaling $254,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 413 $166,335,000 $402,748 $12,183 3.27%
    $75k-100k 394 $133,500,000 $338,832 $11,168 3.27%
    $50k-75k 350 $91,960,000 $262,743 $9,843 3.19%
    $150k-250k 205 $89,725,000 $437,683 $11,207 3.18%
    $50k or less 128 $30,770,000 $240,391 $8,575 3.34%
    $250k+ 53 $22,815,000 $430,472 $11,918 3.46%

    Mlb Residential Lending lent most frequently to those with incomes in the $100k-150k range, with 413 originations. The second most popular income band? $75k-100k, with 394 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 215 $85,115,000 $395,884 $16,059 3.18%
    30-36% 210 $67,720,000 $322,476 $9,204 3.22%
    20-30% 153 $48,465,000 $316,765 $8,036 3.18%
    44% 85 $30,195,000 $355,235 $10,758 3.21%
    49% 78 $29,050,000 $372,436 $11,936 3.28%
    43% 77 $27,615,000 $358,636 $11,132 3.29%
    45% 75 $27,245,000 $363,267 $11,127 3.27%
    42% 68 $21,510,000 $316,324 $10,145 3.37%
    46% 63 $22,425,000 $355,952 $12,228 3.22%
    41% 62 $21,850,000 $352,419 $10,894 3.39%
    40% 62 $20,020,000 $322,903 $9,235 3.34%
    47% 59 $21,955,000 $372,119 $11,589 3.25%
    39% 56 $18,410,000 $328,750 $10,116 3.20%
    48% 54 $21,190,000 $392,407 $12,204 3.29%
    38% 53 $17,835,000 $336,509 $9,343 3.31%
    37% 53 $15,975,000 $301,415 $8,485 3.19%
    36% 48 $16,200,000 $337,500 $10,772 3.36%
    <20% 37 $10,905,000 $294,730 $7,430 3.26%
    Exempt% 33 $9,985,000 $302,576 $8,493 2.94%
    >60% 9 $3,345,000 $371,667 $18,055 4.78%

    Mlb Residential Lending lent most frequently to those with DTI ratios of 50-60%, with 215 originations. The next most common DTI ratio? 30-36%, with 210 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,079 $368,995,000 $341,979 $10,341 3.23%
    Black 357 $121,565,000 $340,518 $12,313 3.33%
    Asian 60 $24,360,000 $406,000 $12,018 3.36%
    Not provided 59 $23,545,000 $399,068 $12,652 3.10%
    Native Hawaiian or Islander 1 $305,000 $305,000 $7,636 3.38%
    American Indian 1 $195,000 $195,000 $3,760 2.99%

    Approval Rates

    Total approvals of all applications
    96.48%

    Mlb Residential Lending 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
    58.83%

    Mlb Residential Lending 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 1,557 $538,965,000 $346,156

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,557 $538,965,000 $346,156

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $8,330,000 $245,000 $8,150 3.22%
    40-60% 133 $36,705,000 $275,977 $8,029 3.16%
    60-80% 506 $172,050,000 $340,020 $9,468 3.32%
    80-100% 875 $317,865,000 $363,274 $12,229 3.22%
    Over 100% 7 $3,335,000 $476,429 $21,016 3.07%
    Under 20% 2 $680,000 $340,000 $9,725 3.75%