Rocky Mountain Law Enforcement Fcu Mortgage Rates, Fees & Info

DENVER, CO

LEI: 549300EB335VA0W9HB45

Tax ID: 84-0425202

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

Review & Overview

Rocky Mountain Law Enforcement Fcu is a smaller credit union specializing in Cash Out Refi loans. Rocky Mountain Law Enforcement Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Greeley, Colorado Springs, and Fort Collins among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Rocky Mountain Law Enforcement Fcu 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. Rocky Mountain Law Enforcement Fcu is typically a low 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.

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	6.28%	11/22/24
30 Year Conventional Refi	5.60%	11/22/24
30 Year Cash-out Refi	6.34%	11/22/24
15 Year Conventional Purchase	6.77%	11/22/24
15 Year Conventional Refi	5.75%	11/22/24
15 Year Cash-out Refi	5.75%	11/22/24
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.

Rocky Mountain Law Enforcement Fcu Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$16,500,000

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
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	87	$14,225,000	$163,506	$4,173	4.52%
GREELEY, CO (FHA\|USDA\|VA)	6	$1,420,000	$236,667	$3,405	4.14%
COLORADO SPRINGS, CO (FHA\|USDA\|VA)	2	$480,000	$240,000	$6,398	4.70%
FORT COLLINS, CO (FHA\|USDA\|VA)	2	$220,000	$110,000	$3,137	3.75%
Outside of Metro Areas	1	$155,000	$155,000	$3,733	4.45%

Rocky Mountain Law Enforcement Fcu's top markets include Denver, Greeley, Colorado Springs, and Fort Collins among others.

Their top states include:

Colorado (FHA|USDA|VA)

(FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against ROCKY MOUNTAIN LAW ENFORCEMENT FCU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Guaranty Bank and Trust Co
Similarity Rank: 493

DENVER COMMUNITY
Similarity Rank: 548

Third Federal Savings and Loan Association of Cleveland
Similarity Rank: 614

First American State Bank
Similarity Rank: 985

Aurora Financial, LLC
Similarity Rank: 1080

Credit Union Lending Source
Similarity Rank: 1148

Calatlantic Morgage Inc.
Similarity Rank: 1404

ROCKY MOUNTAIN LAW ENFORCEMENT FCU
Similarity Rank: 1470

Elevations Credit Union
Similarity Rank: 1776

U S WIDE FINANCIAL LLC
Similarity Rank: 1927

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	98	$16,500,000	$168,367	$4,132	4.48%

For 2018, Rocky Mountain Law Enforcement Fcu's most frequently originated type of loan was Conventional, with 98 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	41	$9,425,000	$229,878	$3,662	4.42%
Home Improvement	20	$890,000	$44,500	$0	0.00%
Other	19	$895,000	$47,105	$0	0.00%
Home Purchase	11	$3,265,000	$296,818	$5,528	4.86%
Refi	7	$2,025,000	$289,286	$4,627	4.15%

For 2018, Rocky Mountain Law Enforcement Fcu's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Home Improvement, with 20 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	42	$1,950,000	$46,429	$0	0.00%
30 Year	41	$11,665,000	$284,512	$4,492	4.79%
15 Year	8	$1,260,000	$157,500	$2,662	3.38%
20 Year	4	$910,000	$227,500	$3,619	4.10%
10 Year	3	$715,000	$238,333	$3,808	3.63%

For 2018, Rocky Mountain Law Enforcement Fcu's most frequently cited loan duration was Other, with 42 originations. The 2nd most popular length was 30 Year, with 41 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	18	$3,720,000	$206,667
$2k-3k	14	$4,090,000	$292,143
$3k-4k	12	$4,020,000	$335,000
$<1k	7	$1,165,000	$166,429
$4k-5k	1	$355,000	$355,000
$5k+	1	$485,000	$485,000

Rocky Mountain Law Enforcement Fcu's average total fees were $4,492, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 18 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	30	$8,340,000	$278,000
3-4%	14	$3,570,000	$255,000
2.5-3%	4	$710,000	$177,500
5-6%	4	$1,090,000	$272,500
7-8%	3	$665,000	$221,667
6-7%	1	$175,000	$175,000

During 2018, Rocky Mountain Law Enforcement Fcu's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 30 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	44	$1,980,000	$45,000	$2,034	3.71%
$200k-400k	32	$9,410,000	$294,063	$4,676	4.62%
$100k-200k	17	$2,715,000	$159,706	$3,268	4.49%
$400k-600k	5	$2,395,000	$479,000	$4,920	4.13%

2018 saw Rocky Mountain Law Enforcement Fcu place emphasis on $100,000 or less loans with 44 originations, totaling $1,980,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	29	$5,655,000	$195,000	$4,572	4.68%
$75k-100k	24	$4,230,000	$176,250	$4,354	4.32%
$150k-250k	22	$3,320,000	$150,909	$4,327	4.28%
$50k-75k	16	$2,520,000	$157,500	$3,219	4.60%
$50k or less	5	$275,000	$55,000	$2,343	4.28%
$250k+	2	$500,000	$250,000	$6,055	4.25%

Rocky Mountain Law Enforcement Fcu lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $75k-100k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	18	$4,520,000	$251,111	$4,137	4.56%
30-36%	14	$3,790,000	$270,714	$4,464	4.34%
<20%	6	$970,000	$161,667	$3,331	4.00%
39%	3	$775,000	$258,333	$4,026	4.02%
38%	3	$915,000	$305,000	$4,939	4.03%
36%	2	$500,000	$250,000	$4,687	5.13%
43%	2	$780,000	$390,000	$4,727	4.30%
45%	2	$610,000	$305,000	$5,694	4.58%
50-60%	1	$285,000	$285,000	$5,089	5.95%
>60%	1	$325,000	$325,000	$1,283	3.00%
37%	1	$175,000	$175,000	$1,554	7.50%
40%	1	$175,000	$175,000	$2,957	4.10%
46%	1	$535,000	$535,000	$1,492	3.75%

Rocky Mountain Law Enforcement Fcu lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 14 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	43	$11,415,000	$265,465	$4,092	4.43%
Not provided	46	$3,150,000	$68,478	$5,138	4.45%
Black	3	$785,000	$261,667	$4,370	5.38%
American Indian	4	$740,000	$185,000	$3,482	4.71%
Asian	2	$410,000	$205,000	$3,924	3.73%

Approval Rates

Total approvals of all applications
86.71%

Rocky Mountain Law Enforcement Fcu has an average approval rate.

Pick Rate

Approvals leading to origination
54.08%

Rocky Mountain Law Enforcement Fcu 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	98	$16,500,000	$168,367

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	98	$16,500,000	$168,367

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	7	$795,000	$113,571	$2,660	3.57%
40-60%	14	$2,820,000	$201,429	$3,566	4.90%
60-80%	26	$7,790,000	$299,615	$4,464	4.31%
80-100%	9	$3,145,000	$349,444	$5,199	5.02%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
ROCKY MOUNTAIN MORTGAGE COMPANY	FHA mortgage	Closing on a mortgage	1	50.0%
ROCKY MOUNTAIN MORTGAGE COMPANY	FHA mortgage	Incorrect information on your report	1	50.0%