Associated Mortgage Bankers Rates, Fees & Info

RONKONKOMA, NY

LEI: 549300IL3HLQ2SW5VN73

Tax ID: 11-2961751

1.7 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Associated Mortgage Bankers is a smaller bank specializing in Home Purchase and Refi loans. Associated Mortgage Bankers 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 New York, Pittsburgh, Bridgeport, Poughkeepsie, and Miami among others. Associated Mortgage Bankers 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. Associated Mortgage Bankers is typically a high fee lendor.


Originations

488

Origination Dollar Volume (All Markets)

$178,590,000

Awards

ASSOCIATED MORTGAGE BANKERS  FHA Loans silver ASSOCIATED MORTGAGE BANKERS  30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Associated Mortgage Bankers 's average 30 year fixed rate mortgage of loans were 3.14%.

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

This yields a difference of -0.01%.

Relative Fees

Associated Mortgage Bankers 's average total fees for a 30 year fixed rate mortgage are $8,105.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 367 $150,195,000 $409,251 $8,622 3.09%
PITTSBURGH, PA (FHA|USDA|VA) 63 $11,875,000 $188,492 $4,543 3.10%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 12 $4,620,000 $385,000 $8,546 3.15%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 13 $4,045,000 $311,154 $7,486 3.10%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,305,000 $261,000 $7,533 3.15%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,105,000 $368,333 $6,040 3.29%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $1,080,000 $270,000 $7,704 3.53%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $570,000 $285,000 $4,109 3.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $515,000 $171,667 $4,830 2.92%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $515,000 $515,000 $3,807 2.75%
Outside of Metro Areas 3 $465,000 $155,000 $6,054 3.17%
Hudson, NY (FHA|USDA|VA) 1 $325,000 $325,000 $5,693 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,186 3.50%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $265,000 $265,000 $11,232 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,250 2.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $9,011 3.13%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $165,000 $165,000 $4,816 2.63%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $155,000 $155,000 $5,198 2.75%
Oneonta, NY (FHA|USDA|VA) 1 $155,000 $155,000 $6,356 3.13%
Auburn, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,908 3.25%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $125,000 $125,000 $6,018 3.63%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $125,000 $125,000 $3,452 3.50%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $115,000 $115,000 $4,238 4.13%

Associated Mortgage Bankers 's top markets include New York, Pittsburgh, Bridgeport, Poughkeepsie, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 414 $150,630,000 $363,841 $6,853 3.12%
FHA 62 $26,020,000 $419,677 $15,038 3.01%
USDA 8 $950,000 $118,750 $4,718 3.23%
VA 4 $990,000 $247,500 $10,254 2.84%

For the 2021 period, Associated Mortgage Bankers 's most frequently originated loan type of loans were Conventional, with 414 originations. Their 2nd most popular type is FHA, with 62 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 263 $95,015,000 $361,274 $8,426 3.13%
Refi 223 $82,915,000 $371,816 $7,265 3.08%
Cash Out Refi 2 $660,000 $330,000 $6,245 3.06%

For the 2021, Associated Mortgage Bankers 's most frequently cited loan purpose of loans were Home Purchase, with 263 originations. The 2nd most popular reason of loans were Refi, with 223 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 435 $162,905,000 $374,494 $8,105 3.14%
15 Year 22 $6,120,000 $278,182 $5,995 2.61%
20 Year 20 $5,900,000 $295,000 $5,995 2.95%
Other 9 $3,075,000 $341,667 $6,987 2.86%
10 Year 2 $590,000 $295,000 $4,577 2.38%

For the 2021, Associated Mortgage Bankers 's most frequently cited loan length of loans were 30 Year, with 435 originations. The 2nd most popular length of loans were 15 Year, with 22 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 149 $52,165,000 $350,101
$5k+ 117 $57,835,000 $494,316
$3k-4k 101 $35,665,000 $353,119
$2k-3k 63 $20,515,000 $325,635
$<1k 58 $12,410,000 $213,966

$8,105 of loans were Associated Mortgage Bankers 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 149 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 262 $96,870,000 $369,733
2.5-3% 194 $71,110,000 $366,546
<2.5% 26 $8,510,000 $327,308
4-5% 6 $2,100,000 $350,000

During 2021, Associated Mortgage Bankers 's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 3-4%, with 262 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 207 $64,255,000 $310,411 $6,610 3.06%
$400k-600k 176 $84,970,000 $482,784 $9,787 3.09%
$100k-200k 65 $9,545,000 $146,846 $4,710 3.17%
$600k-1MM 27 $18,745,000 $694,259 $14,934 3.31%
$100,000 or less 13 $1,075,000 $82,692 $3,921 3.14%

2021 saw Associated Mortgage Bankers place emphasis on $200k-400k loans with 207 originations, totaling $64,255,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 164 $64,730,000 $394,695 $8,159 3.05%
$75k-100k 107 $39,655,000 $370,607 $8,594 3.14%
$150k-250k 83 $36,175,000 $435,843 $8,234 3.06%
$50k-75k 70 $20,110,000 $287,286 $7,600 3.15%
$50k or less 36 $5,180,000 $143,889 $5,200 3.13%
$250k+ 28 $12,740,000 $455,000 $6,713 3.23%

Associated Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 164 originations. The second most popular income band? $75k-100k, with 107 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 77 $25,225,000 $327,597 $6,668 3.07%
20-30% 71 $23,855,000 $335,986 $6,190 3.02%
43% 33 $12,255,000 $371,364 $7,296 3.26%
44% 28 $11,430,000 $408,214 $7,884 3.22%
45% 27 $9,825,000 $363,889 $8,298 3.07%
50-60% 26 $12,030,000 $462,692 $15,742 2.93%
47% 25 $8,465,000 $338,600 $10,099 3.13%
41% 23 $9,615,000 $418,043 $8,835 3.06%
49% 22 $9,930,000 $451,364 $8,629 3.18%
37% 21 $8,525,000 $405,952 $8,131 3.13%
40% 20 $7,330,000 $366,500 $6,892 3.23%
42% 19 $6,635,000 $349,211 $7,275 3.13%
<20% 17 $5,045,000 $296,765 $6,036 2.93%
46% 17 $5,995,000 $352,647 $8,535 3.20%
48% 17 $7,075,000 $416,176 $7,965 3.14%
39% 16 $6,170,000 $385,625 $8,973 3.23%
38% 13 $4,555,000 $350,385 $6,832 3.03%
36% 12 $3,300,000 $275,000 $5,051 3.13%
>60% 4 $1,330,000 $332,500 $8,402 2.94%

Associated Mortgage Bankers lent most frequently to those with DTI ratios of 30-36%, with 77 originations. The next most common DTI ratio? 20-30%, with 71 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 423 $150,605,000 $356,040 $7,439 3.10%
Black 42 $17,620,000 $419,524 $11,096 3.10%
Asian 23 $10,365,000 $450,652 $10,265 3.10%

Approval Rates

Total approvals of all applications
94.25%

Associated Mortgage Bankers has an average approval rate.

Pick Rate

Approvals leading to origination
80.58%

Associated Mortgage Bankers has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 488 $178,590,000 $365,963

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
488 $178,590,000 $365,963

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 19 $4,735,000 $249,211 $5,820 2.94%
40-60% 74 $25,280,000 $341,622 $6,750 2.96%
60-80% 179 $69,205,000 $386,620 $7,269 3.17%
80-100% 212 $78,410,000 $369,858 $8,934 3.12%
Over 100% 2 $720,000 $360,000 $16,449 2.81%
Under 20% 2 $240,000 $120,000 $5,319 2.81%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
ASSOCIATED BANC-CORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 16.7%
ASSOCIATED BANC-CORP Conventional home mortgage Incorrect information on your report 1 8.3%
ASSOCIATED BANC-CORP Conventional home mortgage Struggling to pay mortgage 2 16.7%
ASSOCIATED BANC-CORP Conventional home mortgage Trouble during payment process 3 25.0%
ASSOCIATED BANC-CORP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 8.3%
ASSOCIATED BANC-CORP FHA mortgage Struggling to pay mortgage 1 8.3%
ASSOCIATED BANC-CORP FHA mortgage Trouble during payment process 1 8.3%
ASSOCIATED BANC-CORP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 8.3%