Wall Street Mortgage Bankers Ltd. Rates, Fees & Info

GREAT NECK, NY

LEI: 549300E4YLQ3BVQ4GW30

Tax ID: 11-3019327

1 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Wall Street Mortgage Bankers Ltd. is a smaller bank specializing in Home Purchase and Refi loans. Wall Street Mortgage Bankers Ltd. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include New York, Los Angeles, Miami, Riverside, and Oxnard among others. Wall Street Mortgage Bankers Ltd. 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. Wall Street Mortgage Bankers Ltd. is typically a high fee lendor.


Originations

1,115

Origination Dollar Volume (All Markets)

$754,875,000

Relative Rate

Wall Street Mortgage Bankers Ltd.'s average 30 year fixed rate mortgage of loans were 3.21%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.06%.

Relative Fees

Wall Street Mortgage Bankers Ltd.'s average total fees for a 30 year fixed rate mortgage are $11,509.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 632 $358,800,000 $567,722 $11,355 3.21%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 380 $336,550,000 $885,658 $14,058 3.23%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 17 $15,305,000 $900,294 $17,239 3.71%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 25 $15,295,000 $611,800 $9,288 3.26%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 21 $10,715,000 $510,238 $7,128 3.08%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $3,370,000 $1,685,000 $10,634 2.81%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,540,000 $385,000 $3,048 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $28,638 3.38%
Outside of Metro Areas 4 $1,060,000 $265,000 $7,696 2.94%
NAPA, CA (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $28,010 3.75%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $995,000 $995,000 $14,248 3.00%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $930,000 $465,000 $0 3.50%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $750,000 $375,000 $4,544 2.81%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $670,000 $335,000 $12,057 2.94%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $640,000 $320,000 $16,562 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $600,000 $300,000 $9,557 2.69%
Hudson, NY (FHA|USDA|VA) 1 $545,000 $545,000 $12,754 2.63%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $465,000 $465,000 $4,934 3.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $455,000 $455,000 $4,414 2.88%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $455,000 $455,000 $10,092 4.95%
KINGSTON, NY (FHA|USDA|VA) 2 $450,000 $225,000 $7,190 2.88%
GLENS FALLS, NY (FHA|USDA|VA) 1 $445,000 $445,000 $12,653 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $405,000 $405,000 $13,379 4.38%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $355,000 $355,000 $7,486 2.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $355,000 $355,000 $8,859 2.75%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $305,000 $305,000 $8,131 4.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $275,000 $275,000 $10,675 5.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,916 3.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $175,000 $175,000 $6,978 4.99%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $165,000 $165,000 $3,542 2.25%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $125,000 $125,000 $3,721 3.13%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $5,843 2.50%

Wall Street Mortgage Bankers Ltd.'s top markets include New York, Los Angeles, Miami, Riverside, and Oxnard among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,084 $737,900,000 $680,720 $11,922 3.23%
FHA 31 $16,975,000 $547,581 $19,568 2.90%

For the 2021 period, Wall Street Mortgage Bankers Ltd.'s most frequently originated loan type of loans were Conventional, with 1,084 originations. Their 2nd most popular type is FHA, with 31 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 450 $365,380,000 $811,956 $15,356 3.44%
Refi 412 $240,590,000 $583,956 $9,570 2.96%
Cash Out Refi 252 $148,460,000 $589,127 $10,923 3.26%
Home Improvement 1 $445,000 $445,000 $12,653 3.25%

For the 2021, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan purpose of loans were Home Purchase, with 450 originations. The 2nd most popular reason of loans were Refi, with 412 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 923 $573,835,000 $621,706 $11,509 3.21%
15 Year 87 $32,845,000 $377,529 $6,526 2.41%
30+ year 73 $134,665,000 $1,844,726 $33,258 4.58%
20 Year 25 $10,395,000 $415,800 $8,022 2.87%
10 Year 5 $2,285,000 $457,000 $6,393 2.25%
Other 2 $850,000 $425,000 $8,366 2.75%

For the 2021, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan length of loans were 30 Year, with 923 originations. The 2nd most popular length of loans were 15 Year, with 87 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 485 $442,375,000 $912,113
$1k-2k 346 $168,080,000 $485,780
$3k-4k 65 $23,735,000 $365,154
$<1k 44 $17,590,000 $399,773
$2k-3k 13 $4,385,000 $337,308

$11,509 of loans were Wall Street Mortgage Bankers Ltd.'s average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 485 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 499 $265,965,000 $532,996
3-4% 381 $284,075,000 $745,604
4-5% 112 $138,770,000 $1,239,018
<2.5% 100 $40,530,000 $405,300
5-6% 22 $23,910,000 $1,086,818
6-7% 1 $1,625,000 $1,625,000

During 2021, Wall Street Mortgage Bankers Ltd.'s average interest rate of loans were 3.21%, while their most frequently originated rate bucket of loans were 2.5-3%, with 499 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 403 $199,615,000 $495,323 $8,588 3.08%
$200k-400k 278 $86,550,000 $311,331 $6,620 3.01%
$600k-1MM 263 $193,195,000 $734,582 $13,446 3.29%
$1MM+ 149 $272,135,000 $1,826,409 $29,867 3.94%
$100k-200k 21 $3,285,000 $156,429 $5,829 2.99%
$100,000 or less 1 $95,000 $95,000 $3,396 2.50%

2021 saw Wall Street Mortgage Bankers Ltd. place emphasis on $400k-600k loans with 403 originations, totaling $199,615,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 313 $339,645,000 $1,085,128 $19,222 3.44%
$100k-150k 304 $149,060,000 $490,329 $9,059 3.04%
$150k-250k 251 $157,215,000 $626,355 $11,585 3.15%
$75k-100k 125 $51,625,000 $413,000 $8,458 2.96%
$50k-75k 81 $26,305,000 $324,753 $7,122 3.00%
$50k or less 10 $3,090,000 $309,000 $5,538 3.06%

Wall Street Mortgage Bankers Ltd. lent most frequently to those with incomes in the $250k+ range, with 313 originations. The second most popular income band? $100k-150k, with 304 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 206 $126,300,000 $613,107 $11,105 3.14%
30-36% 168 $103,870,000 $618,274 $11,321 3.11%
<20% 96 $77,130,000 $803,438 $13,767 3.37%
49% 53 $32,885,000 $620,472 $10,109 3.02%
43% 51 $33,195,000 $650,882 $12,011 3.14%
41% 50 $29,260,000 $585,200 $11,426 2.99%
45% 48 $30,180,000 $628,750 $12,586 3.19%
39% 47 $31,285,000 $665,638 $10,964 3.28%
44% 47 $28,715,000 $610,957 $11,601 3.10%
42% 43 $33,725,000 $784,302 $14,053 3.22%
48% 41 $29,085,000 $709,390 $14,322 3.24%
46% 38 $31,840,000 $837,895 $15,375 3.41%
50-60% 37 $31,755,000 $858,243 $18,333 3.22%
40% 37 $23,765,000 $642,297 $11,215 3.14%
36% 36 $20,480,000 $568,889 $11,297 3.04%
47% 30 $21,320,000 $710,667 $13,062 3.30%
38% 30 $25,140,000 $838,000 $11,201 3.15%
37% 25 $16,505,000 $660,200 $11,117 3.13%
>60% 1 $505,000 $505,000 $11,617 2.75%

Wall Street Mortgage Bankers Ltd. lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 168 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 621 $451,185,000 $726,546 $12,232 3.21%
Not provided 197 $129,915,000 $659,467 $13,062 3.29%
Asian 186 $108,480,000 $583,226 $11,111 3.18%
Black 97 $51,575,000 $531,701 $12,114 3.11%
Not applicable 8 $10,670,000 $1,333,750 $0 5.02%
American Indian 4 $2,120,000 $530,000 $8,563 2.72%
Guamanian 1 $605,000 $605,000 $17,813 4.75%
Asian Indian 1 $325,000 $325,000 $9,344 3.25%

Approval Rates

Total approvals of all applications
88.90%

Wall Street Mortgage Bankers Ltd. has an average approval rate.

Pick Rate

Approvals leading to origination
69.52%

Wall Street Mortgage Bankers Ltd. 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 1,115 $754,875,000 $677,018

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,115 $754,875,000 $677,018

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 168 $75,480,000 $449,286 $7,449 2.87%
40-60% 264 $169,240,000 $641,061 $10,665 3.11%
60-80% 488 $375,590,000 $769,652 $14,130 3.39%
80-100% 167 $124,635,000 $746,317 $14,779 3.34%
Under 20% 28 $9,930,000 $354,643 $6,225 2.82%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
WALL STREET MORTGAGE BANKERS Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 100.0%