Mortgage Master Service Corporation Rates, Fees & Info
KENT, WALEI: 549300GJI4B01Z3NJL65
Tax ID: 91-1441009
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Mortgage Data
Review & Overview
Mortgage Master Service Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Mortgage Master Service Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have an average proportion of FHA 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 by origination volume include: Seattle, Bremerton, Olympia, Shelton, and Kennewick among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Master Service Corporation 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. Mortgage Master Service Corporation is typically an average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.23% | 4/18/24 |
| 30 Year Conventional Refi | 6.52% | 4/18/24 |
| 30 Year Cash-out Refi | 6.72% | 4/18/24 |
| 30 Year FHA Purchase | 7.71% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.12% | 4/18/24 |
| 30 Year VA Refi | 6.14% | 4/18/24 |
| 15 Year Conventional Purchase | 6.04% | 4/18/24 |
| 15 Year Conventional Refi | 6.02% | 4/18/24 |
| 15 Year Cash-out Refi | 6.02% | 4/18/24 |
| 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. | ||
Mortgage Master Service Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Mortgage Master Service Corporation. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
680Origination Dollar Volume (All Markets)
$211,350,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 580 | $185,000,000 | $318,966 | $6,652 | 4.28% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 20 | $5,810,000 | $290,500 | $6,201 | 4.44% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 23 | $5,385,000 | $234,130 | $6,564 | 4.49% |
| Outside of Metro Areas | 8 | $2,700,000 | $337,500 | $5,447 | 4.28% |
| Shelton, WA (FHA|USDA|VA) | 9 | $2,345,000 | $260,556 | $5,937 | 4.73% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 8 | $2,250,000 | $281,250 | $6,018 | 3.69% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 9 | $2,075,000 | $230,556 | $5,096 | 4.54% |
| Oak Harbor, WA (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $9,168 | 3.88% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $5,703 | 4.67% |
| WENATCHEE, WA (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $6,630 | 4.35% |
| BELLINGHAM, WA (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $17,951 | 4.47% |
| Moses Lake, WA (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $7,392 | 4.06% |
| YAKIMA, WA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $5,748 | 4.42% |
| Centralia, WA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $7,884 | 4.69% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,920 | 4.50% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,187 | 3.88% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,948 | 3.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against MORTGAGE MASTER SERVICE CORPORATION 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
For 2019, Mortgage Master Service Corporation's most frequently originated type of loan was Conventional, with 484 originations. Their 2nd most popular type was FHA, with 112 originations.
Loan Reason
For 2019, Mortgage Master Service Corporation's most frequently cited loan purpose was Home Purchase, with 379 originations. The 2nd most popular reason was Cash Out Refi, with 189 originations.
Loan Duration/Length
For 2019, Mortgage Master Service Corporation's most frequently cited loan duration was 30 Year, with 599 originations. The 2nd most popular length was Other, with 51 originations.
Origination Fees/Closing Costs
Mortgage Master Service Corporation's average total fees were $6,723, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 215 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 303 | $101,785,000 | $335,924 |
| 3-4% | 256 | $88,370,000 | $345,195 |
| 5-6% | 70 | $20,220,000 | $288,857 |
| <2.5% | 2 | $30,000 | $15,000 |
| 2.5-3% | 1 | $295,000 | $295,000 |
During 2019, Mortgage Master Service Corporation's average interest rate for loans was 4.32%, while their most frequently originated rate bucket for loans was 4-5%, with 303 originations.
Loan Sizing
2019 saw Mortgage Master Service Corporation place emphasis on $200k-400k loans with 379 originations, totaling $112,395,000 in origination value.
Applicant Income
Mortgage Master Service Corporation lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $50k-75k, with 176 originations.
Applicant Debt to Income Ratio
Mortgage Master Service Corporation lent most frequently to those with DTI ratios of 30-36%, with 94 originations. The next most common DTI ratio? 20-30%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.01%
Mortgage Master Service Corporation has an average approval rate.
Pick Rate
Approvals leading to origination28.97%
Mortgage Master Service Corporation 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 | 680 | $211,350,000 | $310,809 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 22 | $4,100,000 | $186,364 |
| Single Family (1-4 Units):Site-Built | 658 | $207,250,000 | $314,970 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE CLEARING CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| MORTGAGE CLEARING CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| MORTGAGE CLEARING CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |