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

    117

    Origination Dollar Volume (All Markets)

    $72,875,000

    Employee count

    196

    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) 117 $72,875,000 $622,863 $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.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    Poli Mortgage Group, Inc.
    Similarity Rank: 1012
    Schuyler Savings Bank
    Similarity Rank: 1083

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $72,875,000 $622,863 $0 0.00%

    For 2020, Maspeth Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $40,845,000 $692,288 $0 0.00%
    Cash Out Refi 35 $19,535,000 $558,143 $0 0.00%
    Home Improvement 18 $10,370,000 $576,111 $0 0.00%
    Refi 4 $2,000,000 $500,000 $0 0.00%
    Other 1 $125,000 $125,000 $0 0.00%

    For 2020, Maspeth Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 117 $72,875,000 $622,863 $0 0.00%

    For 2020, Maspeth Federal Savings And Loan Association's most frequently cited loan duration was Other, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 45 $35,685,000 $793,000 $0 0.00%
    $400k-600k 38 $18,300,000 $481,579 $0 0.00%
    $200k-400k 23 $6,885,000 $299,348 $0 0.00%
    $1MM+ 8 $11,580,000 $1,447,500 $0 0.00%
    $100k-200k 3 $425,000 $141,667 $0 0.00%

    2020 saw Maspeth Federal Savings And Loan Association place emphasis on $600k-1MM loans with 45 originations, totaling $35,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $7,115,000 $474,333 $0 0.00%
    $250k+ 14 $11,130,000 $795,000 $0 0.00%
    $150k-250k 13 $5,755,000 $442,692 $0 0.00%
    $50k or less 6 $2,180,000 $363,333 $0 0.00%
    $50k-75k 4 $2,000,000 $500,000 $0 0.00%
    $75k-100k 3 $1,855,000 $618,333 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $250k+, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 117 $72,875,000 $622,863 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 117 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 61 $42,145,000 $690,902 $0 0.00%
    White 34 $17,170,000 $505,000 $0 0.00%
    Not provided 12 $7,930,000 $660,833 $0 0.00%
    Asian 9 $5,145,000 $571,667 $0 0.00%
    Black 1 $485,000 $485,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    69.48%

    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
    73.50%

    Maspeth Federal Savings And Loan Association has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 117 $72,875,000 $622,863

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $7,285,000 $809,444
    Single Family (1-4 Units):Site-Built 108 $65,590,000 $607,315

    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 $153,491
    Maspeth Federal Savings and Loan Association 185-18 Horace Harding Expy New York City, NY 11365 Full Service B&M $81,777
    Maspeth Federal Savings and Loan Association 56-18 69th St Maspeth, NY 11378 Full Service B&M $762,854
    Maspeth Federal Savings and Loan Association 64-19 Woodhaven Blvd New York City, NY 11374 Full Service B&M $151,462
    Maspeth Federal Savings and Loan Association 66-60 Fresh Pond Road Ridgewood, NY 11385 Full Service B&M $50,453
    Maspeth Federal Savings and Loan Association 801 Jericho Turnpike New Hyde Park, NY 11040 Full Service B&M $127,080

    For 2020, Maspeth Federal Savings And Loan Association had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $71,125
    Net interest income $58,094
    Total noninterest income $603
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $8
    Trading account gains and fees $0
    Additional Noninterest Income $595
    Pre-tax net operating income $17,841
    Securities gains (or losses, -) $0
    Income before extraordinary items $15,349
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,349
    Minority interest net income $0
    Net income $15,349
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,349

    Maspeth Federal Savings And Loan Association's gross interest income from loans was $71,125,000.
    Maspeth Federal Savings And Loan Association's net interest income from loans was $58,094,000.
    Maspeth Federal Savings And Loan Association's fee based income from loans was $8,000.
    Maspeth Federal Savings And Loan Association's net income from loans was $15,349,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,031
    Provision for credit losses $4,892
    Total noninterest expense $35,964
    Salaries and employee benefits $18,655
    Premises and equipment expense $4,402
    Additional noninterest expense $12,907
    Applicable income taxes $2,492
    Net charge-offs $-89
    Cash dividends $0

    Maspeth Federal Savings And Loan Association's interest expense for loans was $13,031,000.
    Maspeth Federal Savings And Loan Association's payroll and benefits expense were $18,655,000.
    Maspeth Federal Savings And Loan Association's property, plant and equipment expenses $4,402,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 4.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $1,350,294
    Deposits held in domestic offices $1,350,294
    Deposits by Individuals, partnerships, and corporations $1,350,294
    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 $167,934
    Demand deposits $45,593
    Nontransaction accounts $1,182,360
    Money market deposit accounts (MMDAs) $17,252
    Other savings deposits (excluding MMDAs) $709,788
    Total time deposits $455,321
    Total time and savings deposits $1,304,701
    Noninterest-bearing deposits $45,593
    Interest-bearing deposits $1,304,701
    Retail deposits $1,278,141
    IRAs and Keogh plan accounts $84,737
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,051,715
    Cash & Balances due from depository institutions $188,318
    Interest-bearing balances $172,982
    Total securities $39,346
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,772,711
    Loan and leases loss allowance $18,036
    Trading account assets $0
    Bank premises and fixed assets $19,785
    Other real estate owned $3,576
    Goodwill and other intangibles $0
    All other assets $27,979

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,051,715
    Total Liabilities $1,389,974
    Total deposits $1,350,294
    Interest-bearing deposits $1,304,701
    Deposits held in domestic offices $1,350,294
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,000
    Subordinated debt $0
    All other liabilities $27,680

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,772,711
    Loan and leases loss allowance $18,036
    Total loans and leases (domestic) $1,790,747
    All real estate loans $1,790,635
    Real estate loans in domestic offices $1,790,635
    Construction and development loans $57,332
    Residential 1-4 family construction $3,965
    Other construction, all land development and other land $53,367
    Loans secured by nonfarm nonresidential properties $459,569
    Nonfarm nonresidential secured by owner-occupied properties $9,041
    Commercial real estate & other non-farm, non-residential $450,528
    Multifamily residential real estate $297,403
    1-4 family residential loans $976,331
    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 $112
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $112
    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 $10,155
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Maspeth Federal Savings and Loan Association had $1,772,711,000 of loans outstanding in 2020. $1,790,635,000 of loans were in real estate loans. $57,332,000 of loans were in development loans. $297,403,000 of loans were in multifamily mortgage loans. $976,331,000 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 529 $192,993 $364,826
    Nonfarm, nonresidential loans - <$100k 9 $307 $34,111
    Nonfarm, nonresidential loans - $100-250k 72 $7,976 $110,778
    Nonfarm, nonresidential loans - $250k-1MM 448 $184,710 $412,299