Members Mortgage Services Rates, Fees & Info

Hutchinson, KS

LEI: 549300JMT2KAYN9PTX82

Tax ID: 36-4548399

5 stars - out of 5 stars, based on 12 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Members Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Members Mortgage Services has an average proportion of conventional loans. Their top markets include Wichita, Hutchinson, Topeka, Kansas City, and Springfield among others. Members Mortgage Services 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. Members Mortgage Services is typically an average fee lendor.


Originations

148

Origination Dollar Volume (All Markets)

$23,270,000
Show all (8) awards

Relative Rate

Members Mortgage Services 's average 30 year fixed rate mortgage of loans were 2.8%.

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

This yields a difference of -0.35%.

Relative Fees

Members Mortgage Services 's average total fees for a 30 year fixed rate mortgage are $4,316.

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
WICHITA, KS (FHA|USDA|VA) 46 $8,050,000 $175,000 $4,444 2.79%
Hutchinson, KS (FHA|USDA|VA) 24 $3,370,000 $140,417 $4,367 2.74%
TOPEKA, KS (FHA|USDA|VA) 10 $1,740,000 $174,000 $5,070 2.68%
KANSAS CITY, MO-KS (FHA|USDA|VA) 10 $1,730,000 $173,000 $4,383 2.64%
SPRINGFIELD, MO (FHA|USDA|VA) 6 $1,140,000 $190,000 $4,394 2.88%
Dodge City, KS (FHA|USDA|VA) 7 $1,065,000 $152,143 $4,643 2.77%
Outside of Metro Areas 11 $1,035,000 $94,091 $2,986 2.93%
MANHATTAN, KS (FHA|USDA|VA) 4 $800,000 $200,000 $2,358 2.72%
GRAND ISLAND, NE (FHA|USDA|VA) 5 $725,000 $145,000 $4,183 2.80%
Emporia, KS (FHA|USDA|VA) 4 $570,000 $142,500 $3,501 3.00%
Pittsburg, KS (FHA|USDA|VA) 5 $555,000 $111,000 $4,769 2.75%
McPherson, KS (FHA|USDA|VA) 3 $445,000 $148,333 $3,400 3.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $330,000 $165,000 $2,233 2.75%
JOPLIN, MO (FHA|USDA|VA) 1 $315,000 $315,000 $8,913 2.13%
Salina, KS (FHA|USDA|VA) 2 $270,000 $135,000 $4,395 2.94%
LAWRENCE, KS (FHA|USDA|VA) 1 $235,000 $235,000 $8,987 2.63%
Poplar Bluff, MO (FHA|USDA|VA) 2 $200,000 $100,000 $2,055 3.25%
Branson, MO (FHA|USDA|VA) 1 $175,000 $175,000 $1,971 2.88%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $145,000 $145,000 $4,859 2.75%
Coffeyville, KS (FHA|USDA|VA) 1 $145,000 $145,000 $2,576 3.38%
Great Bend, KS (FHA|USDA|VA) 1 $145,000 $145,000 $4,582 3.00%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $85,000 $85,000 $3,779 2.75%

Members Mortgage Services 's top markets include Wichita, Hutchinson, Topeka, Kansas City, and Springfield among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
FHA 102 $16,250,000 $159,314 $4,473 2.76%
VA 17 $3,155,000 $185,588 $5,361 2.65%
USDA 16 $1,920,000 $120,000 $3,250 3.11%
Conventional 13 $1,945,000 $149,615 $2,110 2.88%

For the 2021 period, Members Mortgage Services 's most frequently originated loan type of loans were FHA, with 102 originations. Their 2nd most popular type is VA, with 17 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 129 $20,415,000 $158,256 $4,375 2.80%
Cash Out Refi 9 $1,585,000 $176,111 $4,337 2.81%
Other 4 $510,000 $127,500 $2,309 2.69%
Refi 4 $490,000 $122,500 $2,565 2.56%
Home Improvement 2 $270,000 $135,000 $1,975 2.75%

For the 2021, Members Mortgage Services 's most frequently cited loan purpose of loans were Home Purchase, with 129 originations. The 2nd most popular reason of loans were Cash Out Refi, with 9 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 139 $22,255,000 $160,108 $4,316 2.80%
15 Year 7 $825,000 $117,857 $3,164 2.70%
20 Year 2 $190,000 $95,000 $2,411 2.94%

For the 2021, Members Mortgage Services 's most frequently cited loan length of loans were 30 Year, with 139 originations. The 2nd most popular length of loans were 15 Year, with 7 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 124 $18,380,000 $148,226
$1k-2k 18 $3,250,000 $180,556
$2k-3k 6 $1,640,000 $273,333

$4,316 of loans were Members Mortgage Services 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 124 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 105 $16,515,000 $157,286
<2.5% 23 $3,885,000 $168,913
3-4% 20 $2,870,000 $143,500

During 2021, Members Mortgage Services 's average interest rate of loans were 2.80%, while their most frequently originated rate bucket of loans were 2.5-3%, with 105 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 85 $12,725,000 $149,706 $4,055 2.76%
$100,000 or less 34 $2,680,000 $78,824 $2,805 2.86%
$200k-400k 28 $7,450,000 $266,071 $6,527 2.84%
$400k-600k 1 $415,000 $415,000 $4,047 2.50%

2021 saw Members Mortgage Services place emphasis on $100k-200k loans with 85 originations, totaling $12,725,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 64 $7,580,000 $118,438 $3,537 2.79%
$50k-75k 48 $7,680,000 $160,000 $4,406 2.79%
$100k-150k 17 $3,925,000 $230,882 $5,476 2.87%
$75k-100k 15 $2,845,000 $189,667 $5,223 2.82%
$150k-250k 4 $1,240,000 $310,000 $4,388 2.59%

Members Mortgage Services lent most frequently to those with incomes in the $50k or less range, with 64 originations. The second most popular income band? $50k-75k, with 48 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
<20% 49 $7,865,000 $160,510 $4,207 2.83%
30-36% 25 $3,395,000 $135,800 $4,278 2.86%
20-30% 15 $2,485,000 $165,667 $3,507 2.69%
50-60% 6 $900,000 $150,000 $4,504 2.79%
38% 6 $950,000 $158,333 $4,251 2.83%
41% 6 $1,110,000 $185,000 $5,068 2.75%
47% 5 $1,095,000 $219,000 $4,327 2.55%
37% 4 $600,000 $150,000 $4,126 2.75%
39% 4 $490,000 $122,500 $3,264 3.03%
42% 4 $940,000 $235,000 $6,195 2.75%
43% 4 $760,000 $190,000 $6,754 2.84%
45% 3 $475,000 $158,333 $4,157 3.00%
40% 3 $425,000 $141,667 $5,088 2.71%
44% 3 $335,000 $111,667 $3,713 2.50%
46% 2 $260,000 $130,000 $1,969 2.56%
36% 2 $200,000 $100,000 $2,150 2.69%
49% 2 $310,000 $155,000 $4,850 2.75%
48% 1 $125,000 $125,000 $5,293 2.63%

Members Mortgage Services lent most frequently to those with DTI ratios of <20%, with 49 originations. The next most common DTI ratio? 30-36%, with 25 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 126 $19,200,000 $152,381 $4,086 2.80%
Not provided 17 $3,125,000 $183,824 $5,054 2.79%
Black 3 $555,000 $185,000 $4,733 2.54%
Asian 1 $215,000 $215,000 $6,328 3.00%
American Indian 1 $175,000 $175,000 $5,589 2.75%

Approval Rates

Total approvals of all applications
98.01%

Members Mortgage Services 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
43.22%

Members Mortgage Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 148 $23,270,000 $157,230

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
148 $23,270,000 $157,230

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
40-60% 2 $330,000 $165,000 $2,213 3.38%
60-80% 8 $1,340,000 $167,500 $4,185 2.75%
80-100% 125 $19,475,000 $155,800 $4,098 2.79%
Over 100% 8 $1,380,000 $172,500 $7,074 2.73%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MEMBERS MORTGAGE COMPANY, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%