Mission Mortgage Rates, Fees & Info
San Diego, CALEI: 549300DXSALP2TGZBQ16
Tax ID: 95-2148515
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Mission is a small mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Mission has a high proportion of conventional loans. Their top markets include San Diego, Los Angeles, Riverside, San Francisco, and Stockton among others. Mission has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Mission is typically an average fee lendor.Originations
4,080Origination Dollar Volume (All Markets)
$1,467,370,000Awards
MISSION - 2021
MISSION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Mission's average 30 year fixed rate mortgage of loans were
2.9%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.25%.
Relative Fees
Mission's average total fees for a 30 year fixed rate
mortgage are $4,679.
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 |
|---|---|---|---|---|---|
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4,024 | $1,428,440,000 | $354,980 | $4,004 | 3.20% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 13 | $26,735,000 | $2,056,538 | $2,861 | 3.08% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 31 | $9,495,000 | $306,290 | $4,189 | 2.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $5,608 | 3.06% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,945 | 2.88% |
| NAPA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $8,812 | 3.38% |
| EL CENTRO, CA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $4,207 | 2.75% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,044 | 3.00% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,369 | 3.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,934 | 2.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,446 | 2.38% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,907 | 3.00% |
Mission's top markets include San Diego, Los Angeles, Riverside, San Francisco, and Stockton among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 4,080 | $1,467,370,000 | $359,650 | $4,006 | 3.19% |
For the 2021 period, Mission's most frequently originated loan type of loans were Conventional, with 4,080 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 1,044 | $122,220,000 | $117,069 | $1,762 | 3.67% |
| Refi | 958 | $419,830,000 | $438,236 | $3,711 | 2.74% |
| Cash Out Refi | 923 | $421,435,000 | $456,593 | $4,046 | 2.96% |
| Home Improvement | 628 | $74,910,000 | $119,283 | $1,136 | 3.64% |
| Home Purchase | 527 | $428,975,000 | $813,994 | $6,219 | 2.92% |
For the 2021, Mission's most frequently cited loan purpose of loans were Other, with 1,044 originations. The 2nd most popular reason of loans were Refi, with 958 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,703 | $910,045,000 | $534,378 | $4,679 | 2.90% |
| Other | 936 | $94,140,000 | $100,577 | $0 | 3.24% |
| 20 Year | 658 | $112,970,000 | $171,687 | $3,601 | 3.78% |
| 15 Year | 655 | $330,605,000 | $504,740 | $2,295 | 3.30% |
| 10 Year | 128 | $19,610,000 | $153,203 | $2,159 | 3.15% |
For the 2021, Mission's most frequently cited loan length of loans were 30 Year, with 1,703 originations. The 2nd most popular length of loans were Other, with 936 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,504 | $649,520,000 | $431,862 |
| $1k-2k | 409 | $131,245,000 | $320,892 |
| $5k+ | 208 | $113,690,000 | $546,587 |
| $3k-4k | 183 | $90,315,000 | $493,525 |
| $2k-3k | 182 | $84,090,000 | $462,033 |
$4,679 of loans were Mission's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,504 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 2,175 | $798,355,000 | $367,060 |
| 3-4% | 1,041 | $461,295,000 | $443,127 |
| <2.5% | 496 | $172,820,000 | $348,427 |
| 4-5% | 312 | $23,640,000 | $75,769 |
| 5-6% | 47 | $3,325,000 | $70,745 |
| 6-7% | 6 | $260,000 | $43,333 |
| 7-8% | 2 | $70,000 | $35,000 |
During 2021, Mission's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,175 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,100 | $315,090,000 | $286,445 | $3,671 | 2.97% |
| $100,000 or less | 950 | $53,790,000 | $56,621 | $1,134 | 3.75% |
| $100k-200k | 835 | $109,775,000 | $131,467 | $2,537 | 3.24% |
| $400k-600k | 497 | $241,405,000 | $485,724 | $4,559 | 2.90% |
| $600k-1MM | 493 | $375,745,000 | $762,160 | $5,583 | 2.87% |
| $1MM+ | 205 | $371,565,000 | $1,812,512 | $7,415 | 3.03% |
2021 saw Mission place emphasis on $200k-400k loans with 1,100 originations, totaling $315,090,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 1,220 | $447,950,000 | $367,172 | $4,476 | 3.22% |
| $100k-150k | 1,134 | $298,550,000 | $263,272 | $3,704 | 3.24% |
| $75k-100k | 597 | $133,975,000 | $224,414 | $3,635 | 3.17% |
| $50k-75k | 440 | $83,890,000 | $190,659 | $3,302 | 3.07% |
| $250k+ | 417 | $249,415,000 | $598,118 | $5,507 | 3.12% |
| $50k or less | 151 | $21,155,000 | $140,099 | $2,749 | 3.09% |
Mission lent most frequently to those with incomes in the $150k-250k range, with 1,220 originations. The second most popular income band? $100k-150k, with 1,134 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 861 | $295,835,000 | $343,595 | $3,892 | 3.02% |
| 30-36% | 779 | $258,155,000 | $331,393 | $3,937 | 3.14% |
| <20% | 308 | $92,370,000 | $299,903 | $3,670 | 2.96% |
| 44% | 192 | $50,140,000 | $261,146 | $3,973 | 3.32% |
| 39% | 172 | $62,200,000 | $361,628 | $4,584 | 3.25% |
| 40% | 172 | $61,420,000 | $357,093 | $4,275 | 3.22% |
| 42% | 170 | $47,430,000 | $279,000 | $3,471 | 3.31% |
| 41% | 167 | $51,015,000 | $305,479 | $4,219 | 3.32% |
| 43% | 158 | $49,560,000 | $313,671 | $4,848 | 3.43% |
| 37% | 150 | $47,710,000 | $318,067 | $4,427 | 3.28% |
| 36% | 149 | $49,045,000 | $329,161 | $3,777 | 3.25% |
| 38% | 146 | $50,170,000 | $343,630 | $4,083 | 3.21% |
| 45% | 143 | $32,515,000 | $227,378 | $4,369 | 3.43% |
| 46% | 127 | $27,895,000 | $219,646 | $3,635 | 3.41% |
| 48% | 110 | $23,690,000 | $215,364 | $4,235 | 3.43% |
| 47% | 107 | $21,625,000 | $202,103 | $3,908 | 3.25% |
| 49% | 73 | $20,995,000 | $287,603 | $4,524 | 3.09% |
| 50-60% | 5 | $975,000 | $195,000 | $2,113 | 3.87% |
Mission lent most frequently to those with DTI ratios of 20-30%, with 861 originations. The next most common DTI ratio? 30-36%, with 779 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3,076 | $889,430,000 | $289,151 | $3,783 | 3.19% |
| Not applicable | 83 | $210,645,000 | $2,537,892 | $0 | 3.42% |
| Not provided | 388 | $154,700,000 | $398,711 | $4,205 | 3.22% |
| Asian | 342 | $150,140,000 | $439,006 | $4,929 | 3.10% |
| Black | 86 | $23,000,000 | $267,442 | $4,613 | 3.32% |
| Asian Indian | 18 | $11,890,000 | $660,556 | $6,526 | 2.78% |
| American Indian | 29 | $8,595,000 | $296,379 | $5,956 | 3.04% |
| Filipino | 23 | $6,905,000 | $300,217 | $4,315 | 3.25% |
| Native Hawaiian | 17 | $4,265,000 | $250,882 | $4,730 | 3.22% |
| Japanese | 5 | $2,295,000 | $459,000 | $4,345 | 3.25% |
| Korean | 1 | $1,755,000 | $1,755,000 | $19,824 | 2.75% |
| Other Pacific Islander | 5 | $1,375,000 | $275,000 | $6,264 | 3.17% |
| Chinese | 2 | $950,000 | $475,000 | $4,630 | 2.75% |
| Other Asian | 3 | $945,000 | $315,000 | $3,899 | 2.83% |
| Vietnamese | 1 | $375,000 | $375,000 | $4,381 | 2.88% |
| Guamanian | 1 | $105,000 | $105,000 | $0 | 3.99% |
Approval Rates
Total approvals of all applications87.36%
Mission has an average approval rate.
Pick Rate
Approvals leading to origination68.88%
Mission 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 | 4,080 | $1,467,370,000 | $359,650 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,080 | $1,467,370,000 | $359,650 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 666 | $177,930,000 | $267,162 | $3,063 | 2.91% |
| 40-60% | 695 | $397,825,000 | $572,410 | $3,914 | 2.84% |
| 60-80% | 728 | $485,240,000 | $666,538 | $5,080 | 2.92% |
| 80-100% | 338 | $248,390,000 | $734,882 | $6,162 | 2.87% |
| Under 20% | 1,652 | $157,490,000 | $95,333 | $1,379 | 3.63% |
