Wall Street Mortgage Bankers Ltd. Rates, Fees & Info
GREAT NECK, NYLEI: 549300E4YLQ3BVQ4GW30
Tax ID: 11-3019327
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.15% | 11/17/24 |
| 30 Year Conventional Refi | 6.55% | 11/17/24 |
| 30 Year Cash-out Refi | 6.93% | 11/17/24 |
| 30 Year FHA Purchase | 7.00% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.15% | 11/17/24 |
| 15 Year Conventional Refi | 6.05% | 11/17/24 |
| 15 Year Cash-out Refi | 6.05% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
382Origination Dollar Volume (All Markets)
$275,250,000Awards
WALL STREET MORTGAGE BANKERS LTD. - 2023
WALL STREET MORTGAGE BANKERS LTD. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
Similar Lenders
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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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications85.49%
Wall Street Mortgage Bankers Ltd. has an average approval rate.
Pick Rate
Approvals leading to origination41.10%
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 |