Mlb Residential Lending Mortgage Rates, Fees & Info
SPRINGFIELD, NJLEI: 549300DW87L2IZ7ZHF47
Tax ID: 46-2738255
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Mortgage Data
Review & Overview
Mlb Residential Lending is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Mlb Residential Lending has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Orlando, Atlantic City, and Palm Bay among others. We have data for 20 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.93% | 4/21/24 |
| 30 Year Conventional Refi | 6.83% | 4/21/24 |
| 30 Year Cash-out Refi | 7.07% | 4/21/24 |
| 30 Year FHA Purchase | 7.55% | 4/21/24 |
| 30 Year FHA Refi | 6.95% | 4/21/24 |
| 30 Year VA Purchase | 6.54% | 4/21/24 |
| 30 Year VA Refi | 5.71% | 4/21/24 |
| 30 Year USDA Purchase | 6.72% | 4/21/24 |
| 30 Year USDA Refi | 6.46% | 4/21/24 |
| 15 Year Conventional Purchase | 5.98% | 4/21/24 |
| 15 Year Conventional Refi | 6.67% | 4/21/24 |
| 15 Year Cash-out Refi | 6.67% | 4/21/24 |
| 15 Year FHA Refi | 5.68% | 4/21/24 |
| 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. | ||
Mlb Residential Lending Mortgage Calculator
Your Estimates
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This is not an official calculator from Mlb Residential Lending. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
779Origination Dollar Volume (All Markets)
$220,535,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 573 | $179,185,000 | $312,714 | $11,216 | 5.10% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 68 | $13,040,000 | $191,765 | $8,676 | 5.14% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 64 | $12,470,000 | $194,844 | $8,047 | 4.89% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 10 | $2,600,000 | $260,000 | $7,610 | 5.31% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 12 | $1,990,000 | $165,833 | $7,092 | 5.41% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $1,800,000 | $225,000 | $7,110 | 5.22% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 8 | $1,760,000 | $220,000 | $9,861 | 5.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $1,155,000 | $165,000 | $8,246 | 4.77% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $10,346 | 5.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $10,959 | 5.20% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $4,290 | 4.92% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $9,688 | 4.96% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $9,315 | 5.19% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $7,149 | 5.25% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $9,038 | 5.13% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $7,123 | 5.58% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,856 | 5.25% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,284 | 4.75% |
| Outside of Metro Areas | 1 | $165,000 | $165,000 | $6,425 | 4.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,351 | 4.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 412 | $115,760,000 | $280,971 | $12,718 | 5.06% |
| Conventional | 340 | $96,650,000 | $284,265 | $7,614 | 5.15% |
| VA | 27 | $8,125,000 | $300,926 | $10,452 | 4.96% |
For 2018, Mlb Residential Lending's most frequently originated type of loan was FHA, with 412 originations. Their 2nd most popular type was Conventional, with 340 originations.
Loan Reason
For 2018, Mlb Residential Lending's most frequently cited loan purpose was Home Purchase, with 670 originations. The 2nd most popular reason was Cash Out Refi, with 102 originations.
Loan Duration/Length
For 2018, Mlb Residential Lending's most frequently cited loan duration was 30 Year, with 765 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
Mlb Residential Lending's average total fees were $10,486, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 283 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 409 | $110,305,000 | $269,694 |
| 4-5% | 349 | $104,825,000 | $300,358 |
| 3-4% | 14 | $3,650,000 | $260,714 |
| 6-7% | 6 | $1,670,000 | $278,333 |
| 7-8% | 1 | $85,000 | $85,000 |
During 2018, Mlb Residential Lending's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 409 originations.
Loan Sizing
2018 saw Mlb Residential Lending place emphasis on $200k-400k loans with 466 originations, totaling $131,740,000 in origination value.
Applicant Income
Mlb Residential Lending lent most frequently to those with incomes in the $50k-75k range, with 223 originations. The second most popular income band? $75k-100k, with 189 originations.
Applicant Debt to Income Ratio
Mlb Residential Lending lent most frequently to those with DTI ratios of 50-60%, with 212 originations. The next most common DTI ratio? 49%, with 66 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.86%
Mlb Residential Lending has an average approval rate.
Pick Rate
Approvals leading to origination76.89%
Mlb Residential Lending has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 779 | $220,535,000 | $283,100 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $325,000 | $325,000 |
| Single Family (1-4 Units):Site-Built | 778 | $220,210,000 | $283,046 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MLB Residential Lending, LLC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |