Mortgage Master Service Corporation Rates, Fees & Info

KENT, WA

LEI: 549300GJI4B01Z3NJL65

Tax ID: 91-1441009

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

Review & Overview

Mortgage Master Service Corporation is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Mortgage Master Service Corporation has a high proportion of conventional 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 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, Olympia, Bremerton, Aberdeen, and Shelton among others. We have data for 18 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	12/16/24
30 Year Conventional Purchase	6.23%	12/16/24
30 Year Conventional Refi	6.52%	12/16/24
30 Year Cash-out Refi	6.72%	12/16/24
30 Year FHA Purchase	7.71%	12/16/24
30 Year FHA Refi	6.27%	12/16/24
30 Year VA Purchase	6.12%	12/16/24
30 Year VA Refi	6.14%	12/16/24
15 Year Conventional Purchase	6.04%	12/16/24
15 Year Conventional Refi	6.02%	12/16/24
15 Year Cash-out Refi	6.02%	12/16/24
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

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This is not an official calculator from Mortgage Master Service Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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

Originations

1,019

Origination Dollar Volume (All Markets)

$354,745,000

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
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	831	$300,055,000	$361,077	$5,480	3.02%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	40	$12,520,000	$313,000	$5,383	3.15%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	39	$11,225,000	$287,821	$5,764	3.21%
Aberdeen, WA (FHA\|USDA\|VA)	23	$5,445,000	$236,739	$5,963	3.40%
Outside of Metro Areas	17	$5,245,000	$308,529	$4,578	2.97%
Shelton, WA (FHA\|USDA\|VA)	12	$3,430,000	$285,833	$5,740	2.77%
Oak Harbor, WA (FHA\|USDA\|VA)	9	$3,405,000	$378,333	$4,292	3.19%
SPOKANE-SPOKANE VALLEY, WA (FHA\|USDA\|VA)	12	$3,150,000	$262,500	$5,531	2.92%
KENNEWICK-RICHLAND, WA (FHA\|USDA\|VA)	7	$1,735,000	$247,857	$4,252	3.09%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	4	$1,570,000	$392,500	$5,751	3.03%
MOUNT VERNON-ANACORTES, WA (FHA\|USDA\|VA)	4	$1,410,000	$352,500	$6,113	2.86%
BELLINGHAM, WA (FHA\|USDA\|VA)	3	$1,175,000	$391,667	$7,362	2.83%
Centralia, WA (FHA\|USDA\|VA)	6	$970,000	$161,667	$5,186	2.84%
Port Angeles, WA (FHA\|USDA\|VA)	3	$835,000	$278,333	$3,753	2.96%
Ellensburg, WA (FHA\|USDA\|VA)	3	$835,000	$278,333	$4,409	2.75%
Moses Lake, WA (FHA\|USDA\|VA)	3	$795,000	$265,000	$3,050	2.88%
WENATCHEE, WA (FHA\|USDA\|VA)	2	$780,000	$390,000	$4,363	3.13%
YAKIMA, WA (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,584	3.38%

Mortgage Master Service Corporation's top markets include Seattle, Olympia, Bremerton, Aberdeen, and Shelton among others.

Their top states include:

Washington (FHA|USDA|VA)

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.

O BEE
Similarity Rank: 447

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	849	$292,045,000	$343,987	$4,815	3.05%
FHA	68	$25,420,000	$373,824	$11,856	3.27%
FHA	48	$15,160,000	$315,833	$0	2.62%
VA	42	$17,610,000	$419,286	$7,697	2.74%
FHA	11	$4,355,000	$395,909	$0	3.72%
USDA	1	$155,000	$155,000	$4,834	2.75%

For 2021, Mortgage Master Service Corporation's most frequently originated type of loan was Conventional, with 849 originations. Their 2nd most popular type was FHA, with 68 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	421	$140,635,000	$334,050	$5,310	3.08%
Refi	330	$103,480,000	$313,576	$4,112	2.85%
Home Purchase	268	$110,630,000	$412,799	$7,490	3.20%

For 2021, Mortgage Master Service Corporation's most frequently cited loan purpose was Cash Out Refi, with 421 originations. The 2nd most popular reason was Refi, with 330 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	836	$302,960,000	$362,392	$5,705	3.12%
15 Year	86	$21,150,000	$245,930	$3,706	2.51%
Other	60	$19,780,000	$329,667	$2,548	2.83%
20 Year	31	$9,805,000	$316,290	$4,311	2.84%
10 Year	6	$1,050,000	$175,000	$3,065	2.48%

For 2021, Mortgage Master Service Corporation's most frequently cited loan duration was 30 Year, with 836 originations. The 2nd most popular length was 15 Year, with 86 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	442	$143,590,000	$324,864
$2k-3k	164	$52,980,000	$323,049
$5k+	124	$64,160,000	$517,419
$3k-4k	111	$38,415,000	$346,081
$4k-5k	74	$27,880,000	$376,757
$<1k	45	$8,205,000	$182,333

Mortgage Master Service Corporation's average total fees were $5,705, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 442 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	453	$154,435,000	$340,916
3-4%	426	$165,220,000	$387,840
<2.5%	100	$28,370,000	$283,700
4-5%	17	$5,805,000	$341,471
5-6%	1	$605,000	$605,000

During 2021, Mortgage Master Service Corporation's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 453 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	532	$159,750,000	$300,282	$4,818	3.03%
$400k-600k	263	$126,255,000	$480,057	$6,624	3.09%
$100k-200k	128	$21,110,000	$164,922	$3,680	2.89%
$600k-1MM	59	$40,665,000	$689,237	$9,265	3.24%
$100,000 or less	32	$1,030,000	$32,188	$2,813	2.33%
$1MM+	5	$5,935,000	$1,187,000	$13,208	2.90%

2021 saw Mortgage Master Service Corporation place emphasis on $200k-400k loans with 532 originations, totaling $159,750,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	300	$109,650,000	$365,500	$5,675	3.07%
$50k-75k	192	$50,190,000	$261,406	$4,966	3.00%
$75k-100k	181	$58,825,000	$325,000	$5,332	3.04%
$150k-250k	176	$73,500,000	$417,614	$5,734	3.08%
$50k or less	94	$24,730,000	$263,085	$4,007	2.87%
$250k+	58	$31,080,000	$535,862	$6,952	3.13%

Mortgage Master Service Corporation lent most frequently to those with incomes in the $100k-150k range, with 300 originations. The second most popular income band? $50k-75k, with 192 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	235	$79,535,000	$338,447	$4,792	3.01%
30-36%	195	$70,525,000	$361,667	$5,231	3.05%
<20%	95	$28,105,000	$295,842	$4,245	2.84%
44%	49	$18,485,000	$377,245	$7,856	3.09%
40%	44	$18,060,000	$410,455	$5,749	3.19%
45%	38	$12,180,000	$320,526	$5,635	3.07%
36%	35	$11,695,000	$334,143	$4,946	2.98%
39%	33	$10,405,000	$315,303	$5,586	2.93%
38%	33	$11,895,000	$360,455	$6,657	3.09%
41%	33	$12,665,000	$383,788	$5,351	3.14%
49%	33	$11,265,000	$341,364	$7,548	3.14%
42%	32	$11,890,000	$371,563	$4,921	3.12%
43%	30	$10,010,000	$333,667	$5,436	3.18%
37%	25	$8,925,000	$357,000	$4,782	3.06%
48%	23	$8,275,000	$359,783	$6,836	3.12%
47%	20	$6,730,000	$336,500	$6,453	3.09%
50-60%	20	$7,880,000	$394,000	$10,531	3.06%
46%	19	$6,605,000	$347,632	$5,285	3.13%
>60%	6	$1,830,000	$305,000	$0	2.97%

Mortgage Master Service Corporation lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 195 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	796	$274,610,000	$344,987	$5,338	3.03%
Not provided	103	$34,285,000	$332,864	$5,639	3.06%
Asian	85	$33,955,000	$399,471	$5,591	3.03%
Black	25	$8,725,000	$349,000	$7,173	3.20%
American Indian	5	$1,745,000	$349,000	$7,923	3.03%
Native Hawaiian or Islander	5	$1,425,000	$285,000	$7,523	3.22%

Approval Rates

Total approvals of all applications
94.49%

Mortgage Master Service Corporation has an average approval rate.

Pick Rate

Approvals leading to origination
52.80%

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	1,019	$354,745,000	$348,131

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	1,019	$354,745,000	$348,131

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	95	$20,235,000	$213,000	$3,622	2.74%
40-60%	320	$96,470,000	$301,469	$4,157	2.94%
60-80%	349	$138,445,000	$396,691	$5,470	3.12%
80-100%	211	$93,675,000	$443,957	$7,779	3.21%
Over 100%	5	$2,575,000	$515,000	$19,913	2.95%
Under 20%	33	$1,355,000	$41,061	$3,012	2.30%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
MORTGAGE MASTER SERVICE CORPORATION	FHA mortgage	Closing on a mortgage	1	100.0%