Maspeth Federal Savings And Loan Association Mortgage Rates, Fees & Info

New York, NY

LEI: 549300NGNH7M36LP4583

Tax ID: 11-1553555

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
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Maspeth Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Maspeth Federal Savings And Loan Association has a high proportion of conventional loans. Their top (well, only) market is New York.

    Maspeth Federal Savings And Loan Association has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    132

    Origination Dollar Volume (All Markets)

    $72,210,000

    Employee count

    202

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 132 $72,210,000 $547,045 $0 0.00%
    Maspeth Federal Savings And Loan Association's top markets include and New York among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Maspeth Federal Savings and Loan Association 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: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    Union County Savings Bank
    Similarity Rank: 150
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266
    FUNDING RESOURCES MORTGAGE CORPORATION
    Similarity Rank: 292
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 360
    Atlantic Stewardship Bank
    Similarity Rank: 372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 132 $72,210,000 $547,045 $0 0.00%

    For 2019, Maspeth Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 132 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $39,075,000 $550,352 $0 0.00%
    Cash Out Refi 42 $23,250,000 $553,571 $0 0.00%
    Home Improvement 17 $9,425,000 $554,412 $0 0.00%
    Refi 2 $460,000 $230,000 $0 0.00%

    For 2019, Maspeth Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 132 $72,210,000 $547,045 $0 0.00%

    For 2019, Maspeth Federal Savings And Loan Association's most frequently cited loan duration was Other, with 132 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 52 $24,950,000 $479,808 $0 0.00%
    $600k-1MM 41 $31,655,000 $772,073 $0 0.00%
    $200k-400k 30 $9,140,000 $304,667 $0 0.00%
    $100k-200k 5 $845,000 $169,000 $0 0.00%
    $1MM+ 3 $5,565,000 $1,855,000 $0 0.00%
    $100,000 or less 1 $55,000 $55,000 $0 0.00%

    2019 saw Maspeth Federal Savings And Loan Association place emphasis on $400k-600k loans with 52 originations, totaling $24,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 21 $9,465,000 $450,714 $0 0.00%
    $100k-150k 17 $8,215,000 $483,235 $0 0.00%
    $250k+ 10 $7,610,000 $761,000 $0 0.00%
    $75k-100k 5 $1,965,000 $393,000 $0 0.00%
    $50k-75k 4 $1,780,000 $445,000 $0 0.00%
    $50k or less 3 $655,000 $218,333 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with incomes in the $150k-250k range, with 21 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 132 $72,210,000 $547,045 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 69 $41,245,000 $597,754 $0 0.00%
    White 51 $24,555,000 $481,471 $0 0.00%
    Asian 6 $3,600,000 $600,000 $0 0.00%
    Not provided 6 $2,810,000 $468,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    64.47%

    Maspeth Federal Savings And Loan Association has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    88.64%

    Maspeth Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 132 $72,210,000 $547,045

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $9,280,000 $773,333
    Single Family (1-4 Units):Site-Built 120 $62,930,000 $524,417

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Maspeth Federal Savings and Loan Association 101-09 Metropolitan Ave New York City, NY 11375 Full Service B&M $137,128
    Maspeth Federal Savings and Loan Association 185-18 Horace Harding Expy New York City, NY 11365 Full Service B&M $71,800
    Maspeth Federal Savings and Loan Association 56-18 69th St Maspeth, NY 11378 Full Service B&M $728,708
    Maspeth Federal Savings and Loan Association 64-19 Woodhaven Blvd New York City, NY 11374 Full Service B&M $139,885
    Maspeth Federal Savings and Loan Association 66-60 Fresh Pond Road Ridgewood, NY 11385 Full Service B&M $47,533
    Maspeth Federal Savings and Loan Association 801 Jericho Turnpike New Hyde Park, NY 11040 Full Service B&M $104,217

    For 2019, Maspeth Federal Savings And Loan Association had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $81,971
    Net interest income $68,156
    Total noninterest income $-41
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $17
    Trading account gains and fees $0
    Additional Noninterest Income $-58
    Pre-tax net operating income $30,258
    Securities gains (or losses, -) $0
    Income before extraordinary items $22,795
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $22,795
    Minority interest net income $0
    Net income $22,795
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $22,795

    Maspeth Federal Savings And Loan Association's gross interest income from loans was $81,971,000.
    Maspeth Federal Savings And Loan Association's net interest income from loans was $68,156,000.
    Maspeth Federal Savings And Loan Association's fee based income from loans was $17,000.
    Maspeth Federal Savings And Loan Association's net income from loans was $22,795,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,815
    Provision for credit losses $-288
    Total noninterest expense $38,145
    Salaries and employee benefits $19,152
    Premises and equipment expense $4,601
    Additional noninterest expense $14,392
    Applicable income taxes $7,463
    Net charge-offs $33
    Cash dividends $0

    Maspeth Federal Savings And Loan Association's interest expense for loans was $13,815,000.
    Maspeth Federal Savings And Loan Association's payroll and benefits expense were $19,152,000.
    Maspeth Federal Savings And Loan Association's property, plant and equipment expenses $4,601,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 4.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,279,909
    Deposits held in domestic offices $1,279,909
    Deposits by Individuals, partnerships, and corporations $1,279,909
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $131,059
    Demand deposits $33,369
    Nontransaction accounts $1,148,850
    Money market deposit accounts (MMDAs) $16,888
    Other savings deposits (excluding MMDAs) $648,209
    Total time deposits $483,753
    Total time and savings deposits $1,246,540
    Noninterest-bearing deposits $33,369
    Interest-bearing deposits $1,246,540
    Retail deposits $1,195,378
    IRAs and Keogh plan accounts $85,333
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,962,953
    Cash & Balances due from depository institutions $108,689
    Interest-bearing balances $97,376
    Total securities $31,942
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,778,757
    Loan and leases loss allowance $13,055
    Trading account assets $0
    Bank premises and fixed assets $19,815
    Other real estate owned $3,426
    Goodwill and other intangibles $0
    All other assets $20,324

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,962,953
    Total Liabilities $1,318,113
    Total deposits $1,279,909
    Interest-bearing deposits $1,246,540
    Deposits held in domestic offices $1,279,909
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,000
    Subordinated debt $0
    All other liabilities $26,204

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,778,757
    Loan and leases loss allowance $13,055
    Total loans and leases (domestic) $1,791,812
    All real estate loans $1,791,705
    Real estate loans in domestic offices $1,791,705
    Construction and development loans $69,352
    Residential 1-4 family construction $4,596
    Other construction, all land development and other land $64,756
    Loans secured by nonfarm nonresidential properties $445,414
    Nonfarm nonresidential secured by owner-occupied properties $5,505
    Commercial real estate & other non-farm, non-residential $439,909
    Multifamily residential real estate $319,036
    1-4 family residential loans $957,903
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $107
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $107
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,563
    Non 1-4 family restructured loans & leases $652
    Total loans and leases (foreign) $0

    Maspeth Federal Savings and Loan Association had $1,778,757,000 of loans outstanding in 2019. $1,791,705,000 of loans were in real estate loans. $69,352,000 of loans were in development loans. $319,036,000 of loans were in multifamily mortgage loans. $957,903,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 558 $194,012 $347,692
    Nonfarm, nonresidential loans - <$100k 25 $635 $25,400
    Nonfarm, nonresidential loans - $100-250k 76 $8,196 $107,842
    Nonfarm, nonresidential loans - $250k-1MM 457 $185,181 $405,210