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

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, Oxnard, Glens Falls, and Miami among others. We have data for 20 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%	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

Purchase Price:

Loan Amount:

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% Deposit:

Interest Rate:

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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

574

Origination Dollar Volume (All Markets)

$461,730,000

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)	413	$256,155,000	$620,230	$13,580	5.30%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	115	$188,465,000	$1,638,826	$24,627	5.78%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	3	$2,585,000	$861,667	$17,571	5.75%
GLENS FALLS, NY (FHA\|USDA\|VA)	1	$2,505,000	$2,505,000	$50,697	7.21%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	9	$2,265,000	$251,667	$8,112	5.78%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	6	$2,060,000	$343,333	$12,385	5.85%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	3	$1,485,000	$495,000	$4,533	5.28%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	3	$1,025,000	$341,667	$10,256	5.40%
Outside of Metro Areas	4	$1,010,000	$252,500	$10,478	5.57%
ALBANY-SCHENECTADY-TROY, NY (FHA\|USDA\|VA)	3	$805,000	$268,333	$6,286	6.32%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	2	$790,000	$395,000	$6,223	4.44%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	3	$495,000	$165,000	$8,718	4.08%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	2	$470,000	$235,000	$8,981	5.38%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	1	$385,000	$385,000	$12,580	5.81%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA\|USDA\|VA)	1	$325,000	$325,000	$11,269	6.79%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$295,000	$295,000	$5,479	3.75%
KINGSTON, NY (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	3.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	1	$185,000	$185,000	$4,204	4.00%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	7.84%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	7.25%

Wall Street Mortgage Bankers Ltd.'s top markets include New York, Los Angeles, Oxnard, Glens Falls, and Miami 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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	521	$437,145,000	$839,050	$15,499	5.53%
FHA	53	$24,585,000	$463,868	$17,031	4.28%

For 2019, Wall Street Mortgage Bankers Ltd.'s most frequently originated type of loan was Conventional, with 521 originations. Their 2nd most popular type was FHA, with 53 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	356	$248,790,000	$698,848	$14,709	5.26%
Cash Out Refi	118	$113,530,000	$962,119	$18,218	5.39%
NA	55	$49,975,000	$908,636	$3,499	6.64%
Refi	44	$47,530,000	$1,080,227	$15,222	5.23%
Home Improvement	1	$1,905,000	$1,905,000	$25,151	5.25%

For 2019, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan purpose was Home Purchase, with 356 originations. The 2nd most popular reason was Cash Out Refi, with 118 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	495	$347,385,000	$701,788	$14,399	5.40%
30+ year	66	$108,530,000	$1,644,394	$26,427	5.79%
15 Year	7	$3,145,000	$449,286	$6,832	4.17%
20 Year	4	$2,100,000	$525,000	$5,727	4.16%
Other	2	$570,000	$285,000	$6,283	3.50%

For 2019, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan duration was 30 Year, with 495 originations. The 2nd most popular length was 30+ year, with 66 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$5k+	273	$253,215,000	$927,527
$1k-2k	79	$47,415,000	$600,190
$3k-4k	23	$9,005,000	$391,522
$4k-5k	21	$8,305,000	$395,476
$<1k	13	$8,075,000	$621,154
$2k-3k	11	$7,865,000	$715,000

Wall Street Mortgage Bankers Ltd.'s average total fees were $14,399, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 273 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	162	$94,040,000	$580,494
6-7%	135	$118,605,000	$878,556
5-6%	129	$141,525,000	$1,097,093
3-4%	90	$37,680,000	$418,667
7-8%	56	$69,300,000	$1,237,500
Over 8%	2	$580,000	$290,000

During 2019, Wall Street Mortgage Bankers Ltd.'s average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 4-5%, with 162 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$400k-600k	185	$90,755,000	$490,568	$11,830	4.99%
$200k-400k	148	$45,660,000	$308,514	$8,672	5.31%
$600k-1MM	114	$85,060,000	$746,140	$17,036	5.62%
$1MM+	100	$236,020,000	$2,360,200	$33,471	6.06%
$100k-200k	25	$4,075,000	$163,000	$6,561	5.58%
$100,000 or less	2	$160,000	$80,000	$0	7.12%

2019 saw Wall Street Mortgage Bankers Ltd. place emphasis on $400k-600k loans with 185 originations, totaling $90,755,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	166	$233,820,000	$1,408,554	$24,535	5.94%
$100k-150k	125	$61,565,000	$492,520	$11,514	4.69%
$150k-250k	109	$69,745,000	$639,862	$13,818	5.24%
$75k-100k	73	$29,825,000	$408,562	$10,786	4.68%
$50k or less	59	$43,155,000	$731,441	$7,590	6.48%
$50k-75k	40	$17,040,000	$426,000	$7,674	5.71%

Wall Street Mortgage Bankers Ltd. lent most frequently to those with incomes in the $250k+ range, with 166 originations. The second most popular income band? $100k-150k, with 125 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
>60%	65	$31,245,000	$480,692	$11,624	6.86%
30-36%	64	$54,090,000	$845,156	$16,807	5.38%
20-30%	60	$37,590,000	$626,500	$12,931	5.03%
50-60%	51	$46,545,000	$912,647	$20,460	5.37%
<20%	46	$48,360,000	$1,051,304	$21,634	5.99%
49%	31	$21,415,000	$690,806	$13,287	4.93%
44%	30	$19,800,000	$660,000	$11,902	4.84%
40%	23	$19,905,000	$865,435	$10,761	5.23%
46%	22	$10,930,000	$496,818	$11,953	4.96%
42%	22	$19,240,000	$874,545	$19,351	5.09%
37%	20	$11,560,000	$578,000	$14,013	5.16%
43%	20	$14,510,000	$725,500	$16,213	5.03%
45%	19	$20,555,000	$1,081,842	$19,349	4.71%
47%	17	$11,035,000	$649,118	$14,032	5.13%
41%	16	$10,970,000	$685,625	$15,051	5.45%
38%	15	$8,375,000	$558,333	$9,900	4.82%
48%	15	$10,995,000	$733,000	$12,259	4.87%
39%	14	$17,760,000	$1,268,571	$15,736	4.98%
36%	12	$18,020,000	$1,501,667	$21,796	5.09%

Wall Street Mortgage Bankers Ltd. lent most frequently to those with DTI ratios of >60%, with 65 originations. The next most common DTI ratio? 30-36%, with 64 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	332	$297,390,000	$895,753	$16,423	5.50%
Asian	103	$68,605,000	$666,068	$15,433	5.55%
Not provided	70	$60,640,000	$866,286	$15,567	5.53%
Black	68	$33,930,000	$498,971	$12,868	4.71%
Native Hawaiian or Islander	1	$1,165,000	$1,165,000	$22,595	5.26%

Approval Rates

Total approvals of all applications
82.29%

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

Pick Rate

Approvals leading to origination
76.48%

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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	574	$461,730,000	$804,408

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$3,380,000	$1,690,000
Single Family (1-4 Units):Site-Built	572	$458,350,000	$801,311

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	25	$12,845,000	$513,800	$9,553	5.29%
40-60%	81	$80,325,000	$991,667	$13,833	5.33%
60-80%	301	$269,835,000	$896,462	$17,895	5.64%
80-100%	163	$97,365,000	$597,331	$14,172	5.07%
Under 20%	3	$1,005,000	$335,000	$13,326	5.89%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
WALL STREET MORTGAGE BANKERS	Conventional home mortgage	Trouble during payment process	1	100.0%