Wall Street Mortgage Bankers Ltd. Rates, Fees & Info
GREAT NECK, NYLEI: 549300E4YLQ3BVQ4GW30
Tax ID: 11-3019327
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
1,115Origination Dollar Volume (All Markets)
$754,875,000Relative 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 applications88.90%
Wall Street Mortgage Bankers Ltd. has an average approval rate.
Pick Rate
Approvals leading to origination69.52%
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% |
