Wall Street Mortgage Bankers Ltd. Rates, Fees & Info

GREAT NECK, NY

LEI: 549300E4YLQ3BVQ4GW30

Tax ID: 11-3019327

1 stars - Updated: 5/19/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Wall Street Mortgage Bankers Ltd. is a smaller bank specializing in Home Purchase and Cash Out 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 by origination volume include: New York, Los Angeles, Miami, Providence, and Naples among others. We have data for 46 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wall Street Mortgage Bankers Ltd. has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Wall Street Mortgage Bankers Ltd. 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 relatively high 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 7.15% 5/19/24
30 Year Conventional Refi 6.55% 5/19/24
30 Year Cash-out Refi 6.93% 5/19/24
30 Year FHA Purchase 7.00% 5/19/24
30 Year FHA Refi 6.27% 5/19/24
15 Year Conventional Purchase 6.15% 5/19/24
15 Year Conventional Refi 6.05% 5/19/24
15 Year Cash-out Refi 6.05% 5/19/24
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.

Wall Street Mortgage Bankers Ltd. Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Wall Street Mortgage Bankers Ltd.. 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

382

Origination Dollar Volume (All Markets)

$275,250,000

Awards

WALL STREET MORTGAGE BANKERS LTD. FHA Loans gold WALL STREET MORTGAGE BANKERS LTD. FHA Loans gold
Show all (2) awards

Relative Rate

Wall Street Mortgage Bankers Ltd.'s average 30 year fixed mortgage rate was 7.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.27%.

Relative Fees (Closing Costs)

Wall Street Mortgage Bankers Ltd.'s average total fees/closing costs for a 30 year fixed rate mortgage were $21,969.

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 $9,089.

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) 238 $168,830,000 $709,370 $23,183 7.67%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 30 $35,200,000 $1,173,333 $26,370 7.55%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 20 $17,530,000 $876,500 $18,735 7.89%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 12 $7,670,000 $639,167 $0 8.58%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $7,280,000 $1,820,000 $51,502 7.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $5,275,000 $1,758,333 $53,045 7.96%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $100,193 7.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $2,945,000 $589,000 $18,522 7.47%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 4 $2,330,000 $582,500 $21,622 7.62%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $2,200,000 $1,100,000 $20,052 7.56%
Outside of Metro Areas 3 $1,985,000 $661,667 $15,346 8.54%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,910,000 $318,333 $7,832 7.48%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,890,000 $945,000 $4,238 8.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,500,000 $375,000 $10,798 8.53%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 7.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,120,000 $560,000 $18,381 7.56%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $1,010,000 $505,000 $8,598 6.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $970,000 $485,000 $8,292 7.69%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $920,000 $460,000 $14,143 8.44%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 4 $820,000 $205,000 $11,019 6.53%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $740,000 $185,000 $3,617 7.28%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $725,000 $725,000 $0 9.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $705,000 $705,000 $9,940 7.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $570,000 $285,000 $16,823 8.13%
EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $460,000 $230,000 $13,230 6.13%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $460,000 $230,000 $0 8.88%
KINGSTON, NY (FHA|USDA|VA) 1 $425,000 $425,000 $0 7.75%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $400,000 $200,000 $0 9.19%
FORT COLLINS, CO (FHA|USDA|VA) 1 $345,000 $345,000 $10,229 7.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $295,000 $295,000 $0 8.88%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $290,000 $145,000 $0 7.63%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $290,000 $145,000 $0 9.06%
VISALIA, CA (FHA|USDA|VA) 1 $285,000 $285,000 $0 8.63%
Plattsburgh, NY (FHA|USDA|VA) 1 $275,000 $275,000 $11,594 7.88%
READING, PA (FHA|USDA|VA) 1 $245,000 $245,000 $10,863 6.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 7.99%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $235,000 $235,000 $10,433 8.13%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $225,000 $225,000 $8,842 5.88%
UTICA-ROME, NY (FHA|USDA|VA) 1 $225,000 $225,000 $0 8.50%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 10.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $185,000 $185,000 $7,294 8.38%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $185,000 $185,000 $0 8.38%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $0 9.87%
ROCHESTER, NY (FHA|USDA|VA) 1 $185,000 $185,000 $0 7.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $155,000 $155,000 $0 9.25%
RICHMOND, VA (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.88%
Wall Street Mortgage Bankers Ltd.'s top markets include New York, Los Angeles, Miami, Providence, and Naples among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    VENTURA COUNTY
    Similarity Rank: 96
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    LBS FINANCIAL
    Similarity Rank: 258

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 368 $267,550,000 $727,038 $21,884 7.80%
    FHA 14 $7,700,000 $550,000 $25,394 6.11%

    For 2023, Wall Street Mortgage Bankers Ltd.'s most frequently originated type of loan was Conventional, with 368 originations. Their 2nd most popular type was FHA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 265 $202,965,000 $765,906 $21,487 7.61%
    Cash Out Refi 102 $59,610,000 $584,412 $24,973 8.07%
    Refi 15 $12,675,000 $845,000 $25,784 7.79%

    For 2023, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan purpose was Home Purchase, with 265 originations. The 2nd most popular reason was Cash Out Refi, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 373 $264,335,000 $708,673 $21,969 7.75%
    30+ year 5 $9,555,000 $1,911,000 $40,423 8.22%
    15 Year 4 $1,360,000 $340,000 $7,763 5.94%

    For 2023, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan duration was 30 Year, with 373 originations. The 2nd most popular length was 30+ year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 180 $164,410,000 $913,389
    $2k-3k 10 $7,840,000 $784,000
    $4k-5k 8 $3,110,000 $388,750
    $3k-4k 7 $3,745,000 $535,000
    $1k-2k 6 $3,750,000 $625,000
    $<1k 1 $325,000 $325,000

    Wall Street Mortgage Bankers Ltd.'s average total fees were $21,969, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 180 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 146 $111,090,000 $760,890
    7-8% 140 $104,820,000 $748,714
    6-7% 63 $36,935,000 $586,270
    5-6% 33 $22,405,000 $678,939

    During 2023, Wall Street Mortgage Bankers Ltd.'s average interest rate for loans was 7.75%, while their most frequently originated rate bucket for loans was Over 8%, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 103 $31,195,000 $302,864 $10,406 7.81%
    $600k-1MM 100 $73,720,000 $737,200 $19,131 7.68%
    $400k-600k 85 $40,805,000 $480,059 $16,412 7.55%
    $1MM+ 66 $124,980,000 $1,893,636 $41,909 7.87%
    $100k-200k 28 $4,550,000 $162,500 $7,233 8.00%

    2023 saw Wall Street Mortgage Bankers Ltd. place emphasis on $200k-400k loans with 103 originations, totaling $31,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 124 $146,370,000 $1,180,403 $28,448 7.75%
    $150k-250k 57 $33,725,000 $591,667 $16,594 7.27%
    $100k-150k 34 $14,630,000 $430,294 $16,311 6.75%
    $75k-100k 17 $5,345,000 $314,412 $12,300 6.77%
    $50k-75k 7 $1,435,000 $205,000 $8,569 6.70%
    $50k or less 1 $105,000 $105,000 $7,157 6.63%

    Wall Street Mortgage Bankers Ltd. lent most frequently to those with incomes in the $250k+ range, with 124 originations. The second most popular income band? $150k-250k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 38 $39,940,000 $1,051,053 $25,242 7.89%
    30-36% 29 $22,235,000 $766,724 $21,270 7.50%
    20-30% 28 $25,550,000 $912,500 $23,157 7.64%
    45% 16 $9,870,000 $616,875 $18,458 6.80%
    40% 14 $10,020,000 $715,714 $20,541 7.31%
    42% 13 $10,065,000 $774,231 $20,937 7.11%
    44% 12 $7,240,000 $603,333 $16,568 7.20%
    48% 12 $9,240,000 $770,000 $13,764 6.91%
    49% 12 $11,890,000 $990,833 $27,952 7.52%
    41% 9 $11,925,000 $1,325,000 $30,538 7.21%
    38% 8 $6,830,000 $853,750 $20,075 7.92%
    37% 8 $5,790,000 $723,750 $17,510 7.25%
    47% 8 $4,830,000 $603,750 $16,500 6.87%
    50-60% 8 $5,490,000 $686,250 $28,676 6.23%
    36% 7 $7,075,000 $1,010,714 $27,704 7.66%
    43% 7 $4,505,000 $643,571 $17,098 7.55%
    46% 6 $5,350,000 $891,667 $24,873 7.14%
    39% 5 $3,765,000 $753,000 $21,124 7.67%

    Wall Street Mortgage Bankers Ltd. lent most frequently to those with DTI ratios of <20%, with 38 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 136 $117,460,000 $863,676 $21,801 7.67%
    Not provided 69 $56,495,000 $818,768 $25,621 7.73%
    Not applicable 100 $53,770,000 $537,700 $0 8.33%
    Asian 53 $32,465,000 $612,547 $20,186 7.20%
    Black 23 $14,315,000 $622,391 $20,129 6.90%
    American Indian 1 $745,000 $745,000 $8,152 7.63%

    Approval Rates

    Total approvals of all applications
    85.49%

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

    Pick Rate

    Approvals leading to origination
    41.10%

    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 382 $275,250,000 $720,550

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    382 $275,250,000 $720,550

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $14,270,000 $792,778 $13,584 7.23%
    40-60% 58 $48,080,000 $828,966 $29,670 7.48%
    60-80% 222 $150,250,000 $676,802 $21,650 7.96%
    80-100% 78 $60,530,000 $776,026 $21,305 7.47%
    Under 20% 6 $2,120,000 $353,333 $14,061 7.23%