Community Mortgage Corporation Rates, Fees & Info

CORDOVA, TN

LEI: 549300IJ8KTGYPKLXK63

Tax ID: 62-1344184

5 stars - out of 5 stars, based on 62 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Community Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Community Mortgage 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 Memphis, Nashville, Oxford, Little Rock, and Chattanooga among others. Community Mortgage 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. Community Mortgage Corporation is typically an average fee lendor.


Originations

3,867

Origination Dollar Volume (All Markets)

$982,825,000
Show all (22) awards

Relative Rate

Community Mortgage Corporation's average 30 year fixed rate mortgage of loans were 2.98%.

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

This yields a difference of -0.17%.

Relative Fees

Community Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,734.

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
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2,508 $652,250,000 $260,068 $4,839 2.95%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 207 $63,455,000 $306,546 $4,202 2.94%
Oxford, MS (FHA|USDA|VA) 173 $48,565,000 $280,723 $3,598 2.97%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 227 $48,065,000 $211,740 $4,365 2.91%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 168 $39,460,000 $234,881 $4,067 3.03%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 72 $18,590,000 $258,194 $5,556 2.92%
Outside of Metro Areas 89 $17,085,000 $191,966 $3,863 2.97%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 52 $16,040,000 $308,462 $4,283 2.90%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 63 $13,165,000 $208,968 $3,669 3.00%
JACKSON, MS (FHA|USDA|VA) 54 $10,900,000 $201,852 $5,143 2.88%
HUNTSVILLE, AL (FHA|USDA|VA) 37 $9,095,000 $245,811 $4,862 2.90%
HOT SPRINGS, AR (FHA|USDA|VA) 40 $7,940,000 $198,500 $3,643 3.04%
CLEVELAND, TN (FHA|USDA|VA) 23 $5,235,000 $227,609 $4,029 2.78%
Tupelo, MS (FHA|USDA|VA) 17 $4,515,000 $265,588 $5,757 2.92%
Searcy, AR (FHA|USDA|VA) 19 $3,025,000 $159,211 $3,511 2.73%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,320,000 $386,667 $7,164 2.68%
Malvern, AR (FHA|USDA|VA) 10 $1,670,000 $167,000 $4,185 2.94%
KNOXVILLE, TN (FHA|USDA|VA) 8 $1,600,000 $200,000 $3,878 3.11%
Lewisburg, TN (FHA|USDA|VA) 6 $1,440,000 $240,000 $3,897 2.98%
JACKSON, TN (FHA|USDA|VA) 5 $1,355,000 $271,000 $3,232 3.22%
Lawrenceburg, TN (FHA|USDA|VA) 5 $1,245,000 $249,000 $3,962 2.95%
Scottsboro, AL (FHA|USDA|VA) 4 $950,000 $237,500 $4,023 2.84%
Tullahoma-Manchester, TN (FHA|USDA|VA) 4 $760,000 $190,000 $4,208 2.34%
SAVANNAH, GA (FHA|USDA|VA) 2 $760,000 $380,000 $3,609 2.75%
PANAMA CITY, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,399 2.81%
Jefferson, GA (FHA|USDA|VA) 2 $630,000 $315,000 $3,333 2.87%
JONESBORO, AR (FHA|USDA|VA) 3 $565,000 $188,333 $2,333 2.83%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $545,000 $545,000 $3,935 2.63%
Athens, TN (FHA|USDA|VA) 3 $475,000 $158,333 $4,053 3.08%
DALTON, GA (FHA|USDA|VA) 2 $470,000 $235,000 $7,504 2.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $465,000 $155,000 $4,336 2.91%
WARNER ROBINS, GA (FHA|USDA|VA) 3 $465,000 $155,000 $3,121 3.25%
GAINESVILLE, GA (FHA|USDA|VA) 2 $460,000 $230,000 $2,967 3.25%
Cullman, AL (FHA|USDA|VA) 1 $425,000 $425,000 $4,300 2.50%
Mountain Home, AR (FHA|USDA|VA) 2 $420,000 $210,000 $2,274 3.56%
Sevierville, TN (FHA|USDA|VA) 2 $410,000 $205,000 $3,351 3.00%
Cleveland, MS (FHA|USDA|VA) 2 $370,000 $185,000 $3,959 2.69%
Dayton, TN (FHA|USDA|VA) 2 $360,000 $180,000 $4,760 2.69%
Picayune, MS (FHA|USDA|VA) 1 $355,000 $355,000 $4,100 2.75%
Blytheville, AR (FHA|USDA|VA) 3 $345,000 $115,000 $3,547 2.91%
LaGrange, GA-AL (FHA|USDA|VA) 2 $330,000 $165,000 $2,476 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,549 2.75%
PINE BLUFF, AR (FHA|USDA|VA) 2 $310,000 $155,000 $6,874 3.13%
Paris, TN (FHA|USDA|VA) 2 $300,000 $150,000 $2,332 3.12%
Greeneville, TN (FHA|USDA|VA) 1 $275,000 $275,000 $3,341 2.75%
Batesville, AR (FHA|USDA|VA) 1 $275,000 $275,000 $2,491 3.38%
Clarksdale, MS (FHA|USDA|VA) 1 $275,000 $275,000 $3,440 4.13%
Brownsville, TN (FHA|USDA|VA) 2 $250,000 $125,000 $3,547 3.25%
Greenwood, MS (FHA|USDA|VA) 1 $245,000 $245,000 $3,619 2.99%
Starkville, MS (FHA|USDA|VA) 1 $245,000 $245,000 $4,019 3.63%
Calhoun, GA (FHA|USDA|VA) 1 $235,000 $235,000 $2,052 2.88%
Moultrie, GA (FHA|USDA|VA) 1 $185,000 $185,000 $2,151 2.99%
Paducah, KY-IL (FHA|USDA|VA) 1 $185,000 $185,000 $3,195 3.13%
HATTIESBURG, MS (FHA|USDA|VA) 1 $185,000 $185,000 $5,398 2.25%
Arkadelphia, AR (FHA|USDA|VA) 1 $185,000 $185,000 $7,623 3.00%
Shelbyville, TN (FHA|USDA|VA) 1 $185,000 $185,000 $6,174 2.62%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,151 3.25%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $185,000 $185,000 $1,165 2.88%
Fort Payne, AL (FHA|USDA|VA) 1 $175,000 $175,000 $6,363 2.88%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $175,000 $175,000 $2,626 4.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,589 2.99%
Paragould, AR (FHA|USDA|VA) 1 $165,000 $165,000 $2,438 3.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $135,000 $135,000 $2,616 3.25%
DOTHAN, AL (FHA|USDA|VA) 1 $135,000 $135,000 $4,267 2.75%
Forrest City, AR (FHA|USDA|VA) 1 $125,000 $125,000 $2,264 3.13%
DECATUR, AL (FHA|USDA|VA) 1 $115,000 $115,000 $2,991 3.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,082 3.00%
Helena-West Helena, AR (FHA|USDA|VA) 1 $85,000 $85,000 $4,251 3.38%
McComb, MS (FHA|USDA|VA) 1 $85,000 $85,000 $2,931 3.13%
Russellville, AR (FHA|USDA|VA) 1 $65,000 $65,000 $2,432 3.25%

Community Mortgage Corporation's top markets include Memphis, Nashville, Oxford, Little Rock, and Chattanooga among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,717 $699,595,000 $257,488 $3,646 3.04%
FHA 613 $132,105,000 $215,506 $7,244 2.79%
VA 383 $121,145,000 $316,305 $7,073 2.70%
USDA 154 $29,980,000 $194,675 $5,011 2.69%

For the 2021 period, Community Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 2,717 originations. Their 2nd most popular type is FHA, with 613 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,889 $755,065,000 $261,359 $4,988 2.96%
Refi 630 $149,270,000 $236,937 $3,315 2.86%
Cash Out Refi 348 $78,490,000 $225,546 $3,820 3.09%

For the 2021, Community Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 2,889 originations. The 2nd most popular reason of loans were Refi, with 630 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,525 $906,075,000 $257,043 $4,734 2.98%
15 Year 226 $47,760,000 $211,327 $3,218 2.56%
20 Year 81 $20,085,000 $247,963 $3,550 2.86%
Other 25 $7,225,000 $289,000 $3,766 2.90%
10 Year 10 $1,680,000 $168,000 $3,118 2.64%

For the 2021, Community Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 3,525 originations. The 2nd most popular length of loans were 15 Year, with 226 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,458 $617,850,000 $251,363
$<1k 765 $207,405,000 $271,118
$2k-3k 341 $70,025,000 $205,352
$3k-4k 238 $63,350,000 $266,176
$5k+ 65 $24,195,000 $372,231

$4,734 of loans were Community Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,458 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,058 $541,710,000 $263,222
3-4% 1,155 $267,435,000 $231,545
<2.5% 590 $163,860,000 $277,729
4-5% 43 $6,455,000 $150,116
6-7% 12 $1,960,000 $163,333
Over 8% 3 $425,000 $141,667
5-6% 3 $445,000 $148,333
7-8% 3 $535,000 $178,333

During 2021, Community Mortgage Corporation's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,058 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,062 $578,260,000 $280,436 $4,934 2.90%
$100k-200k 1,201 $187,935,000 $156,482 $4,008 3.04%
$400k-600k 398 $188,310,000 $473,141 $5,326 2.83%
$100,000 or less 187 $14,425,000 $77,139 $3,183 3.18%
$600k-1MM 18 $12,690,000 $705,000 $6,617 2.80%
$1MM+ 1 $1,205,000 $1,205,000 $6,837 3.63%

2021 saw Community Mortgage Corporation place emphasis on $200k-400k loans with 2,062 originations, totaling $578,260,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 989 $217,965,000 $220,389 $4,788 2.94%
$100k-150k 819 $245,465,000 $299,713 $4,614 2.94%
$50k or less 777 $127,335,000 $163,880 $4,303 2.97%
$75k-100k 722 $192,220,000 $266,233 $5,024 2.95%
$150k-250k 419 $148,135,000 $353,544 $4,228 2.95%
$250k+ 140 $51,350,000 $366,786 $4,058 3.03%

Community Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 989 originations. The second most popular income band? $100k-150k, with 819 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 829 $204,695,000 $246,918 $4,146 2.95%
30-36% 758 $194,200,000 $256,201 $4,518 3.00%
<20% 313 $74,945,000 $239,441 $3,540 2.92%
40% 169 $41,035,000 $242,811 $4,662 2.95%
41% 161 $41,315,000 $256,615 $4,910 3.02%
43% 157 $38,535,000 $245,446 $4,920 2.98%
42% 152 $39,320,000 $258,684 $4,828 2.98%
50-60% 138 $37,990,000 $275,290 $7,197 2.73%
36% 138 $35,640,000 $258,261 $4,850 2.96%
44% 137 $35,765,000 $261,058 $5,021 3.00%
38% 135 $32,675,000 $242,037 $4,756 2.90%
37% 134 $34,800,000 $259,701 $4,728 2.96%
45% 125 $33,315,000 $266,520 $4,809 2.94%
39% 125 $32,305,000 $258,440 $4,928 2.99%
49% 96 $26,070,000 $271,563 $4,691 2.90%
48% 89 $23,515,000 $264,213 $5,182 2.92%
47% 88 $24,440,000 $277,727 $5,134 3.03%
46% 83 $21,635,000 $260,663 $5,614 2.96%
>60% 10 $2,310,000 $231,000 $3,088 2.60%

Community Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 829 originations. The next most common DTI ratio? 30-36%, with 758 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,045 $771,075,000 $253,227 $4,401 2.96%
Black 650 $165,190,000 $254,138 $5,665 2.90%
Asian 97 $27,635,000 $284,897 $4,279 3.01%
Not provided 52 $13,230,000 $254,423 $4,276 3.03%
American Indian 19 $4,805,000 $252,895 $4,375 3.19%
Native Hawaiian 4 $890,000 $222,500 $6,392 3.00%

Approval Rates

Total approvals of all applications
96.04%

Community Mortgage 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
86.95%

Community Mortgage Corporation has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,867 $982,825,000 $254,157

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,867 $982,825,000 $254,157

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 84 $12,240,000 $145,714 $3,021 2.78%
40-60% 265 $54,285,000 $204,849 $3,238 2.85%
60-80% 1,090 $269,950,000 $247,661 $3,674 3.09%
80-100% 2,297 $604,165,000 $263,024 $4,873 2.92%
Over 100% 128 $41,420,000 $323,594 $11,790 2.68%
Under 20% 3 $765,000 $255,000 $3,039 2.66%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
COMMUNITY MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%