Cuso Mortgage Corporation Rates, Fees & Info
PORTLAND, MELEI: 549300H89M6KDLFKMQ19
Tax ID: 01-0479491
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
887Origination Dollar Volume (All Markets)
$162,955,000Awards
CUSO MORTGAGE CORPORATION - 2021
CUSO MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications84.69%
Cuso Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination82.03%
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% |
