American Security Mortgage Corp. Rates, Fees & Info
Charlotte, NCLEI: 549300E8HNQO52YYHI82
Tax ID: 56-2148428
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
American Security Mortgage Corp. is a small mortgage company specializing in Home Purchase and Refi loans. American Security Mortgage Corp. 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.) They have a low ratio of USDA loans. Their top markets include Charlotte, Washington, Raleigh, Fayetteville, and Myrtle Beach among others. American Security Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. American Security Mortgage Corp. is typically an average fee lendor.Originations
6,004Origination Dollar Volume (All Markets)
$1,916,920,000Awards
American Security Mortgage Corp. - 2021
American Security Mortgage Corp. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
American Security Mortgage Corp.'s average 30 year fixed rate mortgage of loans were
2.86%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.29%.
Relative Fees
American Security Mortgage Corp.'s average total fees for a 30 year fixed rate
mortgage are $3,989.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3,317 | $1,109,985,000 | $334,635 | $3,497 | 2.82% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 268 | $119,730,000 | $446,754 | $4,619 | 2.66% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 275 | $86,075,000 | $313,000 | $4,187 | 2.81% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 331 | $77,355,000 | $233,701 | $6,135 | 2.79% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 252 | $69,150,000 | $274,405 | $3,813 | 2.91% |
| ASHEVILLE, NC (FHA|USDA|VA) | 211 | $65,645,000 | $311,114 | $3,346 | 2.84% |
| Morehead City, NC (FHA|USDA|VA) | 196 | $52,270,000 | $266,684 | $3,677 | 2.76% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 91 | $36,925,000 | $405,769 | $4,122 | 2.85% |
| WILMINGTON, NC (FHA|USDA|VA) | 103 | $30,925,000 | $300,243 | $3,164 | 2.84% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 83 | $22,905,000 | $275,964 | $3,773 | 2.79% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 64 | $19,980,000 | $312,188 | $5,882 | 2.57% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 88 | $18,660,000 | $212,045 | $4,603 | 2.83% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 55 | $17,195,000 | $312,636 | $4,077 | 2.89% |
| NEW BERN, NC (FHA|USDA|VA) | 69 | $15,345,000 | $222,391 | $4,431 | 2.64% |
| Outside of Metro Areas | 50 | $15,140,000 | $302,800 | $3,932 | 2.82% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 20 | $11,470,000 | $573,500 | $7,670 | 2.93% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 40 | $10,960,000 | $274,000 | $3,838 | 2.85% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 34 | $10,680,000 | $314,118 | $3,165 | 2.74% |
| Albemarle, NC (FHA|USDA|VA) | 43 | $10,105,000 | $235,000 | $4,185 | 2.84% |
| COLUMBIA, SC (FHA|USDA|VA) | 35 | $9,915,000 | $283,286 | $4,630 | 2.89% |
| Boone, NC (FHA|USDA|VA) | 25 | $9,205,000 | $368,200 | $3,404 | 2.95% |
| Georgetown, SC (FHA|USDA|VA) | 28 | $8,850,000 | $316,071 | $4,101 | 2.86% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 23 | $6,245,000 | $271,522 | $3,894 | 2.77% |
| Shelby, NC (FHA|USDA|VA) | 23 | $5,605,000 | $243,696 | $4,712 | 2.91% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 15 | $4,745,000 | $316,333 | $3,430 | 2.78% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 15 | $4,505,000 | $300,333 | $2,903 | 2.71% |
| Sanford, NC (FHA|USDA|VA) | 15 | $4,415,000 | $294,333 | $6,806 | 2.49% |
| GOLDSBORO, NC (FHA|USDA|VA) | 18 | $4,110,000 | $228,333 | $6,887 | 2.73% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 18 | $3,880,000 | $215,556 | $2,767 | 3.16% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 15 | $3,605,000 | $240,333 | $3,512 | 2.82% |
| GREENVILLE, NC (FHA|USDA|VA) | 12 | $3,160,000 | $263,333 | $3,616 | 2.83% |
| Brevard, NC (FHA|USDA|VA) | 8 | $3,120,000 | $390,000 | $3,873 | 2.89% |
| Cullowhee, NC (FHA|USDA|VA) | 6 | $2,530,000 | $421,667 | $3,927 | 2.77% |
| Forest City, NC (FHA|USDA|VA) | 8 | $2,380,000 | $297,500 | $4,396 | 2.73% |
| FLORENCE, SC (FHA|USDA|VA) | 9 | $2,245,000 | $249,444 | $4,504 | 2.96% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $2,230,000 | $557,500 | $8,436 | 2.94% |
| RICHMOND, VA (FHA|USDA|VA) | 9 | $2,175,000 | $241,667 | $3,600 | 2.89% |
| Seneca, SC (FHA|USDA|VA) | 5 | $1,965,000 | $393,000 | $3,330 | 2.65% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 6 | $1,850,000 | $308,333 | $4,894 | 2.90% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 6 | $1,710,000 | $285,000 | $5,525 | 2.67% |
| SAVANNAH, GA (FHA|USDA|VA) | 6 | $1,680,000 | $280,000 | $5,131 | 2.73% |
| Marion, NC (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $3,511 | 2.88% |
| Henderson, NC (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $5,884 | 3.04% |
| SPARTANBURG, SC (FHA|USDA|VA) | 5 | $1,245,000 | $249,000 | $3,461 | 2.65% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $4,522 | 2.71% |
| Newberry, SC (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $3,545 | 2.88% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $2,877 | 2.80% |
| Laurinburg, NC (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $3,904 | 2.75% |
| Lumberton, NC (FHA|USDA|VA) | 7 | $1,055,000 | $150,714 | $3,774 | 2.95% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $3,303 | 3.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $4,540 | 2.70% |
| Kinston, NC (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $4,021 | 2.70% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $3,188 | 2.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $32,336 | 2.38% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $1,975 | 2.69% |
| BURLINGTON, NC (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $4,917 | 2.91% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,491 | 2.56% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $4,896 | 2.75% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,551 | 2.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $4,585 | 3.33% |
| Wilson, NC (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $3,065 | 2.96% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,457 | 2.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,158 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,781 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,934 | 2.38% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,208 | 3.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,810 | 2.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,531 | 2.38% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,639 | 3.13% |
| North Wilkesboro, NC (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,087 | 2.56% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,649 | 2.50% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,154 | 2.38% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,018 | 2.88% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,929 | 2.25% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,554 | 3.38% |
| Easton, MD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,386 | 2.88% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,456 | 2.88% |
| Dyersburg, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,438 | 2.25% |
| Paris, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,293 | 2.63% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,512 | 3.75% |
| Newport, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,695 | 3.13% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,507 | 3.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,945 | 2.25% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,431 | 3.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,538 | 3.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,578 | 2.63% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,901 | 3.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,009 | 2.88% |
| AKRON, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,484 | 2.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,435 | 3.38% |
American Security Mortgage Corp.'s top markets include Charlotte, Washington, Raleigh, Fayetteville, and Myrtle Beach among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 4,990 | $1,631,010,000 | $326,856 | $3,265 | 2.84% |
| VA | 582 | $184,080,000 | $316,289 | $7,081 | 2.56% |
| FHA | 270 | $66,580,000 | $246,593 | $7,414 | 2.82% |
| USDA | 162 | $35,250,000 | $217,593 | $5,454 | 2.74% |
For the 2021 period, American Security Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 4,990 originations. Their 2nd most popular type is VA, with 582 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 3,476 | $1,137,050,000 | $327,114 | $4,463 | 2.86% |
| Refi | 1,665 | $513,195,000 | $308,225 | $2,940 | 2.64% |
| Cash Out Refi | 863 | $266,675,000 | $309,009 | $3,343 | 2.92% |
For the 2021, American Security Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 3,476 originations. The 2nd most popular reason of loans were Refi, with 1,665 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5,330 | $1,724,710,000 | $323,585 | $3,989 | 2.86% |
| 15 Year | 457 | $128,515,000 | $281,214 | $2,986 | 2.35% |
| 20 Year | 158 | $46,100,000 | $291,772 | $2,990 | 2.63% |
| Other | 30 | $9,710,000 | $323,667 | $3,372 | 2.86% |
| 10 Year | 29 | $7,885,000 | $271,897 | $3,046 | 2.28% |
For the 2021, American Security Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 5,330 originations. The 2nd most popular length of loans were 15 Year, with 457 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4,979 | $1,561,245,000 | $313,566 |
| $<1k | 756 | $246,400,000 | $325,926 |
| $2k-3k | 134 | $46,070,000 | $343,806 |
| $3k-4k | 83 | $32,865,000 | $395,964 |
| $5k+ | 52 | $30,340,000 | $583,462 |
$3,989 of loans were American Security Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 4,979 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 3,126 | $1,003,570,000 | $321,040 |
| <2.5% | 1,644 | $559,610,000 | $340,395 |
| 3-4% | 1,177 | $342,495,000 | $290,990 |
| 4-5% | 57 | $11,245,000 | $197,281 |
During 2021, American Security Mortgage Corp.'s average interest rate of loans were 2.86%, while their most frequently originated rate bucket of loans were 2.5-3%, with 3,126 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 3,242 | $939,850,000 | $289,898 | $3,960 | 2.80% |
| $400k-600k | 1,253 | $604,775,000 | $482,662 | $3,731 | 2.70% |
| $100k-200k | 1,207 | $193,535,000 | $160,344 | $3,411 | 2.90% |
| $600k-1MM | 163 | $121,325,000 | $744,325 | $6,458 | 2.87% |
| $100,000 or less | 101 | $8,265,000 | $81,832 | $3,094 | 3.24% |
| $1MM+ | 38 | $49,170,000 | $1,293,947 | $7,710 | 2.96% |
2021 saw American Security Mortgage Corp. place emphasis on $200k-400k loans with 3,242 originations, totaling $939,850,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1,424 | $472,110,000 | $331,538 | $3,751 | 2.79% |
| $150k-250k | 1,224 | $486,240,000 | $397,255 | $3,604 | 2.80% |
| $50k-75k | 1,181 | $281,885,000 | $238,683 | $4,041 | 2.83% |
| $75k-100k | 1,027 | $293,135,000 | $285,428 | $4,185 | 2.80% |
| $50k or less | 575 | $105,955,000 | $184,270 | $3,783 | 2.84% |
| $250k+ | 550 | $267,890,000 | $487,073 | $4,016 | 2.84% |
American Security Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 1,424 originations. The second most popular income band? $150k-250k, with 1,224 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,609 | $526,625,000 | $327,300 | $3,529 | 2.79% |
| 30-36% | 1,129 | $368,885,000 | $326,736 | $3,855 | 2.85% |
| <20% | 781 | $248,715,000 | $318,457 | $3,273 | 2.72% |
| 39% | 223 | $71,695,000 | $321,502 | $4,249 | 2.85% |
| 37% | 211 | $72,955,000 | $345,758 | $4,139 | 2.87% |
| 38% | 210 | $66,920,000 | $318,667 | $4,400 | 2.90% |
| 42% | 203 | $59,745,000 | $294,310 | $4,272 | 2.81% |
| 40% | 194 | $62,710,000 | $323,247 | $4,094 | 2.85% |
| 43% | 191 | $53,095,000 | $277,984 | $3,962 | 2.85% |
| 41% | 188 | $56,570,000 | $300,904 | $4,244 | 2.84% |
| 36% | 188 | $57,290,000 | $304,734 | $3,780 | 2.87% |
| 44% | 178 | $57,730,000 | $324,326 | $4,546 | 2.91% |
| 45% | 130 | $39,460,000 | $303,538 | $4,168 | 2.83% |
| 46% | 115 | $35,985,000 | $312,913 | $4,048 | 2.85% |
| 47% | 115 | $35,175,000 | $305,870 | $4,387 | 2.79% |
| 49% | 107 | $31,825,000 | $297,430 | $4,361 | 2.88% |
| 48% | 101 | $30,025,000 | $297,277 | $4,948 | 2.84% |
| 50-60% | 69 | $21,255,000 | $308,043 | $7,967 | 2.70% |
| >60% | 1 | $615,000 | $615,000 | $4,886 | 2.38% |
American Security Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,609 originations. The next most common DTI ratio? 30-36%, with 1,129 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,941 | $1,586,545,000 | $321,098 | $3,818 | 2.80% |
| Not provided | 352 | $108,840,000 | $309,205 | $3,659 | 2.81% |
| Black | 335 | $94,865,000 | $283,179 | $4,942 | 2.91% |
| Asian | 275 | $94,025,000 | $341,909 | $3,732 | 2.84% |
| American Indian | 41 | $13,385,000 | $326,463 | $5,173 | 2.85% |
| Asian Indian | 36 | $11,640,000 | $323,333 | $3,468 | 2.97% |
| Other Asian | 7 | $2,555,000 | $365,000 | $5,797 | 2.68% |
| Filipino | 4 | $1,580,000 | $395,000 | $6,122 | 2.56% |
| Native Hawaiian | 6 | $1,370,000 | $228,333 | $4,053 | 2.65% |
| Korean | 3 | $845,000 | $281,667 | $3,384 | 2.88% |
| Chinese | 2 | $780,000 | $390,000 | $3,067 | 2.50% |
| Vietnamese | 1 | $315,000 | $315,000 | $3,626 | 2.50% |
| Other Pacific Islander | 1 | $175,000 | $175,000 | $6,412 | 2.25% |
Approval Rates
Total approvals of all applications99.12%
American Security Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination79.02%
American Security Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,004 | $1,916,920,000 | $319,274 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6,004 | $1,916,920,000 | $319,274 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 210 | $51,400,000 | $244,762 | $3,127 | 2.59% |
| 40-60% | 799 | $244,685,000 | $306,239 | $3,022 | 2.66% |
| 60-80% | 2,326 | $780,020,000 | $335,348 | $3,237 | 2.89% |
| 80-100% | 2,516 | $793,960,000 | $315,564 | $4,344 | 2.82% |
| Over 100% | 141 | $44,695,000 | $316,986 | $12,213 | 2.62% |
| Under 20% | 12 | $2,160,000 | $180,000 | $3,041 | 2.64% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| American Mortgage Service Company | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| American Mortgage Service Company | FHA mortgage | Closing on a mortgage | 2 | 66.7% |
