Mortgage Lenders Investment Trading Corporation Rates, Fees & Info

Oxford, MS

LEI: 549300EOHSB7M6IFW844

Tax ID: 26-0813134

4.7 stars - out of 5 stars, based on 82 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage Lenders Investment Trading Corporation is a small mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Mortgage Lenders Investment Trading Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Orlando, Tampa, Deltona, Jacksonville, and Lakeland among others. Mortgage Lenders Investment Trading Corporation 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. Mortgage Lenders Investment Trading Corporation is typically an average fee lendor.


Originations

6,667

Origination Dollar Volume (All Markets)

$1,510,425,000
Show all (25) awards

Relative Rate

Mortgage Lenders Investment Trading Corporation's average 30 year fixed rate mortgage of loans were 3.41%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.26%.

Relative Fees

Mortgage Lenders Investment Trading Corporation's average total fees for a 30 year fixed rate mortgage are $4,288.

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
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1,713 $407,195,000 $237,709 $4,016 3.29%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1,106 $248,160,000 $224,376 $3,472 3.39%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 898 $196,470,000 $218,786 $5,205 3.38%
JACKSONVILLE, FL (FHA|USDA|VA) 492 $112,770,000 $229,207 $3,832 3.33%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 465 $90,205,000 $193,989 $3,735 3.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 345 $90,085,000 $261,116 $3,325 3.29%
GAINESVILLE, FL (FHA|USDA|VA) 376 $88,640,000 $235,745 $5,534 3.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 307 $65,605,000 $213,697 $3,743 3.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 240 $58,550,000 $243,958 $3,504 3.31%
PORT ST. LUCIE, FL (FHA|USDA|VA) 134 $33,840,000 $252,537 $4,494 3.36%
OCALA, FL (FHA|USDA|VA) 122 $21,560,000 $176,721 $4,192 3.39%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 82 $18,190,000 $221,829 $2,966 3.37%
Outside of Metro Areas 64 $11,740,000 $183,438 $5,771 3.35%
THE VILLAGES, FL (FHA|USDA|VA) 48 $11,140,000 $232,083 $3,747 3.20%
PUNTA GORDA, FL (FHA|USDA|VA) 53 $10,595,000 $199,906 $4,393 3.36%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 51 $9,465,000 $185,588 $3,630 3.54%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 38 $7,600,000 $200,000 $3,701 3.40%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 18 $5,130,000 $285,000 $2,357 3.06%
Lake City, FL (FHA|USDA|VA) 21 $4,135,000 $196,905 $4,532 3.31%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 22 $3,200,000 $145,455 $2,791 3.34%
Palatka, FL (FHA|USDA|VA) 15 $2,645,000 $176,333 $5,412 3.77%
Key West, FL (FHA|USDA|VA) 7 $2,615,000 $373,571 $8,471 2.88%
TALLAHASSEE, FL (FHA|USDA|VA) 8 $1,770,000 $221,250 $4,518 3.47%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $1,510,000 $251,667 $3,745 3.46%
TULSA, OK (FHA|USDA|VA) 9 $1,345,000 $149,444 $1,919 3.31%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 5 $985,000 $197,000 $5,892 4.25%
ASHEVILLE, NC (FHA|USDA|VA) 3 $975,000 $325,000 $3,911 3.71%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $595,000 $595,000 $20,104 2.75%
PANAMA CITY, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,988 3.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $440,000 $220,000 $4,203 3.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $360,000 $180,000 $4,871 3.19%
Boone, NC (FHA|USDA|VA) 1 $335,000 $335,000 $7,824 3.38%
Okeechobee, FL (FHA|USDA|VA) 2 $310,000 $155,000 $3,763 3.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $295,000 $295,000 $4,121 2.88%
Sevierville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.88%
WILMINGTON, NC (FHA|USDA|VA) 1 $225,000 $225,000 $6,050 3.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $205,000 $205,000 $1,683 3.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,245 3.25%
NEW BERN, NC (FHA|USDA|VA) 1 $175,000 $175,000 $1,936 3.25%
Clewiston, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,685 4.25%
Arcadia, FL (FHA|USDA|VA) 1 $155,000 $155,000 $915 3.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $115,000 $115,000 $4,493 3.38%

Mortgage Lenders Investment Trading Corporation's top markets include Orlando, Tampa, Deltona, Jacksonville, and Lakeland among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,230 $1,180,500,000 $225,717 $3,237 3.32%
FHA 1,038 $227,350,000 $219,027 $7,428 3.48%
VA 359 $94,205,000 $262,409 $6,117 3.08%
USDA 40 $8,370,000 $209,250 $7,278 3.28%

For the 2021 period, Mortgage Lenders Investment Trading Corporation's most frequently originated loan type of loans were Conventional, with 5,230 originations. Their 2nd most popular type is FHA, with 1,038 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 3,391 $748,755,000 $220,807 $3,843 3.45%
Refi 2,024 $448,640,000 $221,660 $2,740 3.10%
Home Purchase 1,252 $313,030,000 $250,024 $6,932 3.39%

For the 2021, Mortgage Lenders Investment Trading Corporation's most frequently cited loan purpose of loans were Cash Out Refi, with 3,391 originations. The 2nd most popular reason of loans were Refi, with 2,024 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 5,525 $1,263,445,000 $228,678 $4,288 3.41%
15 Year 755 $161,605,000 $214,046 $3,117 2.87%
20 Year 267 $60,355,000 $226,049 $3,029 3.10%
Other 83 $16,835,000 $202,831 $3,321 3.27%
10 Year 37 $8,185,000 $221,216 $3,320 2.68%

For the 2021, Mortgage Lenders Investment Trading Corporation's most frequently cited loan length of loans were 30 Year, with 5,525 originations. The 2nd most popular length of loans were 15 Year, with 755 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,279 $524,755,000 $230,257
$3k-4k 1,452 $310,660,000 $213,953
$1k-2k 950 $218,810,000 $230,326
$2k-3k 933 $190,845,000 $204,550
$5k+ 877 $236,295,000 $269,436

$4,288 of loans were Mortgage Lenders Investment Trading Corporation's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,279 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 4,148 $913,120,000 $220,135
2.5-3% 1,661 $405,435,000 $244,091
4-5% 541 $112,405,000 $207,773
<2.5% 309 $77,505,000 $250,825
5-6% 4 $870,000 $217,500

During 2021, Mortgage Lenders Investment Trading Corporation's average interest rate of loans were 3.41%, while their most frequently originated rate bucket of loans were 3-4%, with 4,148 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 3,326 $889,650,000 $267,483 $4,625 3.28%
$100k-200k 2,814 $441,360,000 $156,844 $3,372 3.37%
$400k-600k 331 $155,375,000 $469,411 $5,025 3.21%
$100,000 or less 184 $15,600,000 $84,783 $2,825 3.87%
$600k-1MM 11 $7,315,000 $665,000 $6,962 3.36%
$1MM+ 1 $1,125,000 $1,125,000 $14,869 3.50%

2021 saw Mortgage Lenders Investment Trading Corporation place emphasis on $200k-400k loans with 3,326 originations, totaling $889,650,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,892 $378,640,000 $200,127 $4,273 3.36%
$100k-150k 1,415 $372,545,000 $263,283 $3,959 3.32%
$75k-100k 1,326 $307,100,000 $231,599 $4,233 3.32%
$50k or less 1,251 $202,835,000 $162,138 $3,872 3.39%
$150k-250k 621 $193,645,000 $311,828 $3,800 3.23%
$250k+ 138 $49,980,000 $362,174 $4,399 3.14%

Mortgage Lenders Investment Trading Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,892 originations. The second most popular income band? $100k-150k, with 1,415 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,260 $278,670,000 $221,167 $3,309 3.27%
30-36% 1,121 $255,265,000 $227,712 $3,820 3.32%
50-60% 432 $100,240,000 $232,037 $7,640 3.37%
<20% 414 $90,360,000 $218,261 $3,040 3.12%
44% 356 $84,390,000 $237,051 $4,004 3.43%
43% 311 $68,715,000 $220,949 $3,908 3.47%
39% 272 $61,930,000 $227,684 $3,977 3.34%
40% 270 $61,990,000 $229,593 $4,097 3.37%
42% 267 $59,915,000 $224,401 $3,978 3.37%
41% 258 $58,250,000 $225,775 $4,098 3.41%
36% 238 $53,610,000 $225,252 $4,117 3.36%
37% 236 $54,190,000 $229,619 $3,927 3.37%
38% 231 $52,565,000 $227,554 $3,628 3.32%
45% 221 $50,425,000 $228,167 $4,184 3.41%
49% 207 $45,645,000 $220,507 $4,616 3.33%
48% 184 $42,140,000 $229,022 $4,561 3.39%
46% 175 $41,395,000 $236,543 $4,409 3.36%
47% 174 $40,700,000 $233,908 $4,480 3.40%
>60% 13 $3,525,000 $271,154 $8,673 3.06%

Mortgage Lenders Investment Trading Corporation lent most frequently to those with DTI ratios of 20-30%, with 1,260 originations. The next most common DTI ratio? 30-36%, with 1,121 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,291 $970,955,000 $226,277 $4,167 3.32%
Not provided 2,024 $457,390,000 $225,983 $3,772 3.36%
Black 221 $51,375,000 $232,466 $5,241 3.36%
Asian 81 $20,055,000 $247,593 $4,155 3.15%
American Indian 26 $5,280,000 $203,077 $3,735 3.31%
Asian Indian 10 $2,320,000 $232,000 $4,971 3.58%
Native Hawaiian 8 $1,750,000 $218,750 $5,916 3.44%
Other Pacific Islander 2 $440,000 $220,000 $2,984 3.56%
Filipino 1 $265,000 $265,000 $4,838 3.50%
Other Asian 1 $235,000 $235,000 $8,084 3.38%
Guamanian 1 $225,000 $225,000 $7,162 3.00%
Native Hawiian 1 $135,000 $135,000 $0 4.13%

Approval Rates

Total approvals of all applications
95.70%

Mortgage Lenders Investment Trading Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
79.72%

Mortgage Lenders Investment Trading Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
165.0 1 $85,000 $85,000
NA 6,666 $1,510,340,000 $226,574

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,667 $1,510,425,000 $226,552

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 290 $46,130,000 $159,069 $2,473 3.29%
40-60% 1,380 $266,390,000 $193,036 $2,671 3.22%
60-80% 3,161 $740,255,000 $234,184 $3,768 3.36%
80-100% 1,792 $445,110,000 $248,387 $5,817 3.37%
Over 100% 30 $9,830,000 $327,667 $13,454 3.17%
Under 20% 10 $1,620,000 $162,000 $1,003 3.43%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MORTGAGE CLEARING CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
MORTGAGE CLEARING CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%