Cuso Mortgage Corporation Rates, Fees & Info

PORTLAND, ME

LEI: 549300H89M6KDLFKMQ19

Tax ID: 01-0479491

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cuso Mortgage Corporation is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Cuso Mortgage Corporation has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Portland, Bangor, Augusta, Lewiston, and Boston among others. Cuso Mortgage Corporation has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cuso Mortgage Corporation is typically an average fee lendor.


Originations

887

Origination Dollar Volume (All Markets)

$162,955,000
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Relative Rate

Cuso Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.96%.

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

This yields a difference of -0.19%.

Relative Fees

Cuso Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,486.

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
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 265 $57,385,000 $216,547 $4,003 2.76%
Outside of Metro Areas 288 $50,470,000 $175,243 $3,970 2.78%
BANGOR, ME (FHA|USDA|VA) 209 $33,705,000 $161,268 $3,817 2.72%
Augusta-Waterville, ME (FHA|USDA|VA) 76 $11,710,000 $154,079 $3,984 2.73%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 44 $8,630,000 $196,136 $4,071 2.75%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $430,000 $215,000 $2,662 2.50%
Concord, NH (FHA|USDA|VA) 1 $255,000 $255,000 $4,138 3.13%
Laconia, NH (FHA|USDA|VA) 1 $195,000 $195,000 $2,248 3.13%
Lebanon, NH-VT (FHA|USDA|VA) 1 $175,000 $175,000 $2,221 3.00%

Cuso Mortgage Corporation's top markets include Portland, Bangor, Augusta, Lewiston, and Boston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 807 $148,815,000 $184,405 $3,763 2.75%
USDA 42 $6,600,000 $157,143 $5,017 2.85%
VA 20 $4,460,000 $223,000 $6,548 2.81%
FHA 18 $3,080,000 $171,111 $6,610 2.74%

For the 2021 period, Cuso Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 807 originations. Their 2nd most popular type is USDA, with 42 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 386 $66,010,000 $171,010 $3,034 2.66%
Cash Out Refi 305 $60,225,000 $197,459 $4,645 2.76%
Home Purchase 196 $36,720,000 $187,347 $4,641 2.93%

For the 2021, Cuso Mortgage Corporation's most frequently cited loan purpose of loans were Refi, with 386 originations. The 2nd most popular reason of loans were Cash Out Refi, with 305 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 430 $85,290,000 $198,349 $4,486 2.96%
15 Year 265 $43,645,000 $164,698 $3,264 2.43%
20 Year 93 $16,385,000 $176,183 $3,724 2.85%
Other 57 $11,645,000 $204,298 $4,006 2.91%
10 Year 42 $5,990,000 $142,619 $3,072 2.32%

For the 2021, Cuso Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 430 originations. The 2nd most popular length of loans were 15 Year, with 265 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 459 $71,405,000 $155,566
$2k-3k 178 $36,840,000 $206,966
$<1k 112 $19,590,000 $174,911
$3k-4k 112 $26,650,000 $237,946
$5k+ 26 $8,470,000 $325,769

$4,486 of loans were Cuso Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 459 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 451 $86,585,000 $191,984
<2.5% 286 $45,700,000 $159,790
3-4% 149 $30,425,000 $204,195
4-5% 1 $245,000 $245,000

During 2021, Cuso Mortgage Corporation's average interest rate of loans were 2.96%, while their most frequently originated rate bucket of loans were 2.5-3%, with 451 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 465 $70,485,000 $151,581 $3,626 2.74%
$200k-400k 279 $72,355,000 $259,337 $4,712 2.80%
$100,000 or less 120 $9,510,000 $79,250 $3,079 2.66%
$400k-600k 23 $10,605,000 $461,087 $5,558 2.91%

2021 saw Cuso Mortgage Corporation place emphasis on $100k-200k loans with 465 originations, totaling $70,485,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 232 $37,900,000 $163,362 $3,912 2.78%
$50k or less 175 $21,415,000 $122,371 $3,597 2.84%
$75k-100k 170 $32,360,000 $190,353 $4,015 2.74%
$100k-150k 169 $34,395,000 $203,521 $4,025 2.70%
$150k-250k 115 $29,195,000 $253,870 $4,307 2.70%
$250k+ 25 $7,285,000 $291,400 $4,073 2.69%

Cuso Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 232 originations. The second most popular income band? $50k or less, with 175 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 257 $46,225,000 $179,864 $3,735 2.72%
30-36% 178 $33,800,000 $189,888 $3,870 2.76%
<20% 103 $17,595,000 $170,825 $3,547 2.72%
39% 37 $7,445,000 $201,216 $4,400 2.80%
38% 37 $6,175,000 $166,892 $4,189 2.68%
40% 33 $5,555,000 $168,333 $4,112 2.86%
36% 31 $5,155,000 $166,290 $4,176 2.85%
42% 29 $5,235,000 $180,517 $4,397 2.79%
44% 28 $5,470,000 $195,357 $4,464 2.88%
41% 26 $5,130,000 $197,308 $4,540 2.72%
43% 24 $5,350,000 $222,917 $4,801 2.79%
45% 20 $3,230,000 $161,500 $3,923 2.78%
37% 19 $3,465,000 $182,368 $4,471 2.73%
46% 17 $3,475,000 $204,412 $3,516 2.82%
49% 17 $3,375,000 $198,529 $3,472 2.74%
47% 14 $2,580,000 $184,286 $4,182 2.76%
48% 11 $2,165,000 $196,818 $4,573 2.81%
50-60% 4 $980,000 $245,000 $4,873 2.78%
>60% 2 $550,000 $275,000 $2,224 2.69%

Cuso Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 178 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 794 $145,200,000 $182,872 $3,943 2.75%
Not provided 73 $14,235,000 $195,000 $3,929 2.76%
Asian 8 $1,860,000 $232,500 $3,841 2.73%
American Indian 9 $1,205,000 $133,889 $3,949 2.64%
Black 3 $455,000 $151,667 $4,648 3.13%

Approval Rates

Total approvals of all applications
84.69%

Cuso Mortgage Corporation has a below average approval rate.

Pick Rate

Approvals leading to origination
82.03%

Cuso Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 887 $162,955,000 $183,715

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
887 $162,955,000 $183,715

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 63 $7,765,000 $123,254 $3,007 2.55%
40-60% 251 $41,425,000 $165,040 $3,144 2.69%
60-80% 400 $80,400,000 $201,000 $4,152 2.77%
80-100% 170 $33,020,000 $194,235 $4,982 2.88%
Under 20% 3 $345,000 $115,000 $3,756 2.46%