Wall Street Mortgage Bankers Ltd. Rates, Fees & Info

GREAT NECK, NY

LEI: 549300E4YLQ3BVQ4GW30

Tax ID: 11-3019327

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 an average proportion of FHA loans. Their top markets by origination volume include: New York, Los Angeles, San Diego, Oxnard, and Bridgeport among others. We have data for 19 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% 4/21/24
    30 Year Conventional Refi 6.55% 4/21/24
    30 Year Cash-out Refi 6.93% 4/21/24
    30 Year FHA Purchase 7.00% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 6.15% 4/21/24
    15 Year Conventional Refi 6.05% 4/21/24
    15 Year Cash-out Refi 6.05% 4/21/24
    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

    453

    Origination Dollar Volume (All Markets)

    $303,095,000

    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) 353 $179,615,000 $508,824 $12,879 5.45%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 64 $101,370,000 $1,583,906 $38,123 5.76%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $4,230,000 $2,115,000 $63,391 6.08%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $2,965,000 $988,333 $14,207 5.99%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $2,750,000 $1,375,000 $31,358 6.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,660,000 $443,333 $9,426 4.56%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $2,205,000 $2,205,000 $36,100 5.50%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $1,750,000 $437,500 $14,591 6.22%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 5 $1,235,000 $247,000 $8,828 4.98%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $29,775 6.22%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $640,000 $320,000 $9,642 7.21%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $545,000 $545,000 $9,715 6.98%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $465,000 $465,000 $14,885 6.98%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $405,000 $405,000 $4,165 4.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $350,000 $175,000 $6,858 5.74%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 2 $290,000 $145,000 $4,741 5.69%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.25%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $205,000 $205,000 $12,552 5.00%
    Outside of Metro Areas 1 $185,000 $185,000 $6,125 6.38%
    Wall Street Mortgage Bankers Ltd.'s top markets include New York, Los Angeles, San Diego, Oxnard, and Bridgeport among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (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.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    FRONTWAVE
    Similarity Rank: 92
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Montecito Bank & Trust
    Similarity Rank: 126
    Investors Home Mortgage-IHM
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 409 $281,505,000 $688,276 $16,822 5.60%
    FHA 44 $21,590,000 $490,682 $17,634 4.72%

    For 2018, Wall Street Mortgage Bankers Ltd.'s most frequently originated type of loan was Conventional, with 409 originations. Their 2nd most popular type was FHA, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 304 $176,380,000 $580,197 $14,002 5.40%
    Cash Out Refi 106 $95,020,000 $896,415 $23,978 5.67%
    Refi 36 $29,120,000 $808,889 $22,388 5.90%
    Home Improvement 4 $1,810,000 $452,500 $9,520 5.53%
    NA 3 $765,000 $255,000 $8,258 6.93%

    For 2018, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan purpose was Home Purchase, with 304 originations. The 2nd most popular reason was Cash Out Refi, with 106 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 441 $296,605,000 $672,574 $17,135 5.55%
    15 Year 8 $2,550,000 $318,750 $6,470 4.16%
    20 Year 3 $1,835,000 $611,667 $11,503 4.63%
    30+ year 1 $2,105,000 $2,105,000 $32,694 4.88%

    For 2018, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan duration was 30 Year, with 441 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 244 $211,840,000 $868,197
    $1k-2k 51 $20,415,000 $400,294
    $4k-5k 24 $9,040,000 $376,667
    $3k-4k 21 $6,135,000 $292,143
    $<1k 11 $4,825,000 $438,636
    $2k-3k 7 $2,155,000 $307,857

    Wall Street Mortgage Bankers Ltd.'s average total fees were $17,135, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 244 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 175 $75,805,000 $433,171
    5-6% 133 $111,925,000 $841,541
    6-7% 101 $90,865,000 $899,653
    7-8% 27 $15,155,000 $561,296
    3-4% 14 $6,680,000 $477,143
    Over 8% 3 $2,665,000 $888,333

    During 2018, Wall Street Mortgage Bankers Ltd.'s average interest rate for loans was 5.55%, while their most frequently originated rate bucket for loans was 4-5%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 151 $72,065,000 $477,252 $11,809 5.45%
    $200k-400k 125 $39,095,000 $312,760 $8,782 5.40%
    $600k-1MM 91 $66,935,000 $735,549 $17,398 5.57%
    $1MM+ 55 $119,965,000 $2,181,182 $49,506 6.02%
    $100k-200k 31 $5,035,000 $162,419 $5,972 5.24%

    2018 saw Wall Street Mortgage Bankers Ltd. place emphasis on $400k-600k loans with 151 originations, totaling $72,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $48,835,000 $465,095 $11,505 5.06%
    $250k+ 104 $144,130,000 $1,385,865 $34,315 5.82%
    $150k-250k 85 $46,775,000 $550,294 $13,683 5.53%
    $75k-100k 78 $32,950,000 $422,436 $10,057 5.03%
    $50k or less 37 $13,535,000 $365,811 $7,967 6.74%
    $50k-75k 36 $12,140,000 $337,222 $8,282 5.27%

    Wall Street Mortgage Bankers Ltd. lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $250k+, with 104 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 58 $35,930,000 $619,483 $14,582 5.39%
    20-30% 49 $29,275,000 $597,449 $13,470 5.55%
    <20% 34 $35,380,000 $1,040,588 $22,456 6.13%
    >60% 32 $17,920,000 $560,000 $12,385 6.80%
    45% 30 $15,200,000 $506,667 $11,856 5.16%
    50-60% 27 $20,825,000 $771,296 $19,805 5.31%
    48% 27 $11,945,000 $442,407 $10,891 4.97%
    47% 25 $11,875,000 $475,000 $11,232 5.04%
    49% 25 $10,825,000 $433,000 $12,187 5.09%
    37% 15 $27,285,000 $1,819,000 $74,904 5.85%
    39% 15 $8,405,000 $560,333 $13,975 5.16%
    44% 15 $12,135,000 $809,000 $17,245 5.37%
    36% 14 $10,960,000 $782,857 $15,534 5.29%
    41% 13 $5,235,000 $402,692 $10,185 5.02%
    40% 13 $11,175,000 $859,615 $23,653 5.46%
    38% 13 $13,545,000 $1,041,923 $19,831 5.49%
    42% 12 $7,580,000 $631,667 $13,124 5.06%
    46% 11 $6,215,000 $565,000 $17,130 5.10%
    43% 11 $5,235,000 $475,909 $15,642 4.97%

    Wall Street Mortgage Bankers Ltd. lent most frequently to those with DTI ratios of 30-36%, with 58 originations. The next most common DTI ratio? 20-30%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 273 $206,335,000 $755,806 $18,688 5.57%
    Black 87 $44,195,000 $507,989 $13,998 5.15%
    Asian 76 $36,770,000 $483,816 $13,437 5.54%
    Not provided 12 $9,290,000 $774,167 $16,321 6.21%
    Not applicable 3 $5,095,000 $1,698,333 $37,058 6.62%
    Native Hawaiian or Islander 1 $705,000 $705,000 $20,189 8.35%
    Asian Indian 1 $705,000 $705,000 $0 7.13%

    Approval Rates

    Total approvals of all applications
    82.74%

    Wall Street Mortgage Bankers Ltd. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.83%

    Wall Street Mortgage Bankers Ltd. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    5550.4 1 $375,000 $375,000
    NA 452 $302,720,000 $669,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 453 $303,095,000 $669,084

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $18,035,000 $546,515 $10,555 5.15%
    40-60% 62 $54,210,000 $874,355 $26,892 5.50%
    60-80% 222 $159,980,000 $720,631 $17,860 5.77%
    80-100% 128 $67,710,000 $528,984 $13,730 5.20%
    Under 20% 8 $3,160,000 $395,000 $6,661 5.23%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WALL STREET MORTGAGE BANKERS Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%