Colonial Mortgage Service Company Of America Rates, Fees & Info

Montgomeryville, PA

LEI: 549300IO1KYLVNDJOQ94

Tax ID: 23-2689725

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Colonial Mortgage Service Company Of America is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Colonial Mortgage Service Company Of America has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Washington, New York, Richmond, and Pittsburgh among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Colonial Mortgage Service Company Of America 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. Colonial Mortgage Service Company Of America is typically a low 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.

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    Originations

    190

    Origination Dollar Volume (All Markets)

    $61,510,000
    Show all (5) awards

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 54 $18,180,000 $336,667 $4,867 2.71%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 23 $8,045,000 $349,783 $3,313 2.66%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 22 $7,410,000 $336,818 $4,076 2.53%
    RICHMOND, VA (FHA|USDA|VA) 13 $4,225,000 $325,000 $2,997 2.59%
    PITTSBURGH, PA (FHA|USDA|VA) 13 $3,535,000 $271,923 $4,046 2.36%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 7 $2,095,000 $299,286 $3,144 2.44%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $1,725,000 $345,000 $3,709 2.65%
    LANCASTER, PA (FHA|USDA|VA) 7 $1,595,000 $227,857 $4,023 2.63%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 6 $1,510,000 $251,667 $4,845 2.77%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,300,000 $325,000 $4,173 2.90%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,265,000 $421,667 $3,772 2.54%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,230,000 $307,500 $3,975 2.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,085,000 $361,667 $3,760 2.50%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $900,000 $450,000 $5,601 2.18%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $845,000 $281,667 $2,841 2.46%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $770,000 $385,000 $4,265 2.69%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $770,000 $385,000 $4,352 2.69%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $630,000 $315,000 $4,168 2.56%
    Sonora, CA (FHA|USDA|VA) 1 $545,000 $545,000 $3,914 2.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $395,000 $395,000 $3,034 2.63%
    READING, PA (FHA|USDA|VA) 2 $390,000 $195,000 $4,045 2.31%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $9,279 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,289 2.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,956 2.63%
    LEBANON, PA (FHA|USDA|VA) 1 $315,000 $315,000 $5,316 2.88%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $3,880 2.50%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $285,000 $285,000 $5,914 2.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $255,000 $255,000 $2,789 2.75%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $255,000 $255,000 $3,068 2.63%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $235,000 $235,000 $4,358 2.88%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $225,000 $225,000 $3,058 2.99%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $3,053 4.13%
    Colonial Mortgage Service Company Of America's top markets include Philadelphia, Washington, New York, Richmond, and Pittsburgh among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against COLONIAL MORTGAGE SERVICE COMPANY OF AMERICA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 102
    TRI BORO
    Similarity Rank: 208
    Schuyler Savings Bank
    Similarity Rank: 352
    Louviers Federal Credit Union
    Similarity Rank: 410
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    BHCU
    Similarity Rank: 504
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    Standard Bank, PaSB
    Similarity Rank: 584
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 639

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 190 $61,510,000 $323,737 $4,129 2.63%

    For 2021, Colonial Mortgage Service Company Of America's most frequently originated type of loan was Conventional, with 190 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 103 $31,255,000 $303,447 $3,516 2.55%
    Home Purchase 48 $17,660,000 $367,917 $5,300 2.70%
    Cash Out Refi 39 $12,595,000 $322,949 $4,308 2.73%

    For 2021, Colonial Mortgage Service Company Of America's most frequently cited loan purpose was Refi, with 103 originations. The 2nd most popular reason was Home Purchase, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 119 $39,725,000 $333,824 $4,362 2.81%
    15 Year 47 $14,415,000 $306,702 $3,717 2.22%
    20 Year 22 $6,880,000 $312,727 $3,768 2.54%
    10 Year 1 $185,000 $185,000 $3,865 2.25%
    Other 1 $305,000 $305,000 $3,988 2.50%

    For 2021, Colonial Mortgage Service Company Of America's most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 118 $37,140,000 $314,746
    $2k-3k 37 $13,335,000 $360,405
    $1k-2k 24 $7,460,000 $310,833
    $3k-4k 7 $2,085,000 $297,857
    $4k-5k 1 $365,000 $365,000
    $5k+ 1 $425,000 $425,000

    Colonial Mortgage Service Company Of America's average total fees were $4,362, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 98 $31,750,000 $323,980
    <2.5% 79 $25,675,000 $325,000
    3-4% 12 $3,930,000 $327,500
    4-5% 1 $155,000 $155,000

    During 2021, Colonial Mortgage Service Company Of America's average interest rate for loans was 2.81%, while their most frequently originated rate bucket for loans was 2.5-3%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 137 $41,025,000 $299,453 $3,975 2.61%
    $400k-600k 36 $17,320,000 $481,111 $4,998 2.62%
    $100k-200k 16 $2,470,000 $154,375 $3,471 2.78%
    $600k-1MM 1 $695,000 $695,000 $4,486 2.50%

    2021 saw Colonial Mortgage Service Company Of America place emphasis on $200k-400k loans with 137 originations, totaling $41,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 50 $15,830,000 $316,600 $3,918 2.61%
    $150k-250k 48 $17,640,000 $367,500 $4,573 2.64%
    $50k or less 37 $11,065,000 $299,054 $3,671 2.51%
    $75k-100k 27 $8,845,000 $327,593 $4,476 2.71%
    $50k-75k 19 $4,565,000 $240,263 $3,919 2.77%
    $250k+ 9 $3,565,000 $396,111 $4,220 2.56%

    Colonial Mortgage Service Company Of America lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $150k-250k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $19,835,000 $314,841 $4,218 2.58%
    30-36% 46 $15,830,000 $344,130 $4,188 2.73%
    <20% 20 $5,700,000 $285,000 $3,456 2.54%
    42% 7 $2,845,000 $406,429 $4,047 2.61%
    36% 7 $2,335,000 $333,571 $3,638 2.48%
    49% 7 $2,035,000 $290,714 $4,098 2.44%
    44% 6 $1,450,000 $241,667 $4,203 2.89%
    37% 6 $1,890,000 $315,000 $3,965 2.62%
    39% 5 $1,815,000 $363,000 $4,288 2.75%
    48% 5 $1,295,000 $259,000 $3,976 2.62%
    38% 4 $1,610,000 $402,500 $6,598 2.56%
    47% 3 $1,125,000 $375,000 $4,310 2.83%
    45% 3 $1,315,000 $438,333 $3,361 2.25%
    40% 2 $550,000 $275,000 $3,600 2.81%
    41% 2 $520,000 $260,000 $3,719 2.75%
    43% 1 $205,000 $205,000 $5,429 2.88%
    >60% 1 $305,000 $305,000 $3,910 2.25%
    50-60% 1 $405,000 $405,000 $5,635 2.99%
    46% 1 $445,000 $445,000 $5,197 2.50%

    Colonial Mortgage Service Company Of America lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 117 $38,065,000 $325,342 $4,103 2.68%
    Not provided 31 $10,495,000 $338,548 $4,709 2.58%
    Asian 32 $9,830,000 $307,188 $3,797 2.51%
    Asian Indian 7 $2,225,000 $317,857 $3,779 2.36%
    Black 3 $895,000 $298,333 $3,498 2.87%

    Approval Rates

    Total approvals of all applications
    98.80%

    Colonial Mortgage Service Company Of America 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
    73.16%

    Colonial Mortgage Service Company Of America has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 190 $61,510,000 $323,737

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    190 $61,510,000 $323,737

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,380,000 $238,000 $3,317 2.55%
    40-60% 53 $16,305,000 $307,642 $3,525 2.49%
    60-80% 85 $28,575,000 $336,176 $4,119 2.66%
    80-100% 41 $13,935,000 $339,878 $5,117 2.77%
    Under 20% 1 $315,000 $315,000 $4,615 2.13%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Colonial Mortgage Service Co. Of America Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%