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 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, Riverside, and Oxnard among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)Wall Street Mortgage Bankers Ltd. has an above 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.15% | 4/14/24 |
| 30 Year Conventional Refi | 6.55% | 4/14/24 |
| 30 Year Cash-out Refi | 6.93% | 4/14/24 |
| 30 Year FHA Purchase | 7.00% | 4/14/24 |
| 30 Year FHA Refi | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.15% | 4/14/24 |
| 15 Year Conventional Refi | 6.05% | 4/14/24 |
| 15 Year Cash-out Refi | 6.05% | 4/14/24 |
| 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
1,115Origination Dollar Volume (All Markets)
$754,875,000Top 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) | 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% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. 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 2021, Wall Street Mortgage Bankers Ltd.'s most frequently originated type of loan was Conventional, with 1,084 originations. Their 2nd most popular type was FHA, with 31 originations.
Loan Reason
For 2021, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan purpose was Home Purchase, with 450 originations. The 2nd most popular reason was Refi, with 412 originations.
Loan Duration/Length
For 2021, Wall Street Mortgage Bankers Ltd.'s most frequently cited loan duration was 30 Year, with 923 originations. The 2nd most popular length was 15 Year, with 87 originations.
Origination Fees/Closing Costs
Wall Street Mortgage Bankers Ltd.'s average total fees were $11,509, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 485 originations.
Interest Rates
During 2021, Wall Street Mortgage Bankers Ltd.'s average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 2.5-3%, with 499 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications98.46%
Wall Street Mortgage Bankers Ltd. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination51.30%
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 |
LTV Distribution
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% |