Mvb Bank Inc Mortgage Rates, Fees & Info
Bridgeport, WVLEI: 549300LBYGRKZX1SD516
Tax ID: 55-0755205
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Mortgage Data
Review & Overview
Mvb Bank Inc is a smaller bank specializing in Refi loans. Mvb Bank Inc has a high proportion of conventional loans. Their top markets by origination volume include: Morgantown, Washington, Charleston, Myrtle Beach, and Fairmont among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Mvb Bank Inc 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.
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Originations
41Origination Dollar Volume (All Markets)
$34,775,000Top 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 |
|---|---|---|---|---|---|
| MORGANTOWN, WV (FHA|USDA|VA) | 5 | $17,975,000 | $3,595,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 9 | $13,495,000 | $1,499,444 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 11 | $965,000 | $87,727 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 0.00% |
| Fairmont, WV (FHA|USDA|VA) | 6 | $570,000 | $95,000 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $205,000 | $205,000 | $0 | 0.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Clarksburg, WV (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $34,775,000 | $848,171 | $0 | 0.00% |
For 2019, Mvb Bank Inc's most frequently originated type of loan was Conventional, with 41 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 23 | $5,095,000 | $221,522 | $0 | 0.00% |
| Refi | 14 | $29,480,000 | $2,105,714 | $0 | 0.00% |
| Home Improvement | 4 | $200,000 | $50,000 | $0 | 0.00% |
For 2019, Mvb Bank Inc's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 41 | $34,775,000 | $848,171 | $0 | 0.00% |
For 2019, Mvb Bank Inc's most frequently cited loan duration was Other, with 41 originations.
Loan Sizing
2019 saw Mvb Bank Inc place emphasis on $100,000 or less loans with 19 originations, totaling $1,165,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $55,000 | $55,000 | $0 | 0.00% |
Mvb Bank Inc lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 41 | $34,775,000 | $848,171 | $0 | 0.00% |
Mvb Bank Inc lent most frequently to those with DTI ratios of Exempt%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 38 | $34,570,000 | $909,737 | $0 | 0.00% |
| Asian | 1 | $135,000 | $135,000 | $0 | 0.00% |
| White | 2 | $70,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.44%
Mvb Bank Inc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination73.17%
Mvb Bank Inc has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 41 | $34,775,000 | $848,171 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 10 | $28,670,000 | $2,867,000 |
| Single Family (1-4 Units):Site-Built | 31 | $6,105,000 | $196,935 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MB FINANCIAL, INC. | Conventional home mortgage | Trouble during payment process | 3 | 50.0% |
| MB FINANCIAL, INC. | FHA mortgage | Struggling to pay mortgage | 1 | 16.7% |
| MB FINANCIAL, INC. | VA mortgage | Trouble during payment process | 2 | 33.3% |