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 an 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

    127

    Origination Dollar Volume (All Markets)

    $72,515,000

    Employee count

    183

    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) 127 $72,515,000 $570,984 $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: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Columbia Bank
    Similarity Rank: 1183
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369
    Hanover Community Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $72,515,000 $570,984 $0 0.00%

    For 2021, Maspeth Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $37,860,000 $591,563 $0 0.00%
    Cash Out Refi 49 $28,845,000 $588,673 $0 0.00%
    Refi 7 $3,285,000 $469,286 $0 0.00%
    Home Improvement 4 $1,920,000 $480,000 $0 0.00%
    Other 3 $605,000 $201,667 $0 0.00%

    For 2021, Maspeth Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 127 $72,515,000 $570,984 $0 0.00%

    For 2021, Maspeth Federal Savings And Loan Association's most frequently cited loan duration was Other, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 45 $35,115,000 $780,333 $0 0.00%
    $400k-600k 36 $17,930,000 $498,056 $0 0.00%
    $200k-400k 23 $6,695,000 $291,087 $0 0.00%
    $100k-200k 17 $2,685,000 $157,941 $0 0.00%
    $1MM+ 6 $10,090,000 $1,681,667 $0 0.00%

    2021 saw Maspeth Federal Savings And Loan Association place emphasis on $600k-1MM loans with 45 originations, totaling $35,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 17 $9,745,000 $573,235 $0 0.00%
    $100k-150k 15 $7,005,000 $467,000 $0 0.00%
    $250k+ 11 $9,655,000 $877,727 $0 0.00%
    $50k or less 7 $1,305,000 $186,429 $0 0.00%
    $50k-75k 6 $1,610,000 $268,333 $0 0.00%
    $75k-100k 6 $2,270,000 $378,333 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 127 $72,515,000 $570,984 $0 0.00%

    Maspeth Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 127 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 58 $38,640,000 $666,207 $0 0.00%
    White 45 $19,975,000 $443,889 $0 0.00%
    Not provided 14 $8,960,000 $640,000 $0 0.00%
    Asian 8 $3,960,000 $495,000 $0 0.00%
    Black 2 $980,000 $490,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.00%

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

    Pick Rate

    Approvals leading to origination
    64.57%

    Maspeth Federal Savings And Loan Association 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
    Exempt 127 $72,515,000 $570,984

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    127 $72,515,000 $570,984

    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 $166,450
    Maspeth Federal Savings and Loan Association 185-18 Horace Harding Expy New York City, NY 11365 Full Service B&M $88,143
    Maspeth Federal Savings and Loan Association 56-18 69th St Maspeth, NY 11378 Full Service B&M $795,232
    Maspeth Federal Savings and Loan Association 64-19 Woodhaven Blvd New York City, NY 11374 Full Service B&M $158,635
    Maspeth Federal Savings and Loan Association 66-60 Fresh Pond Road Ridgewood, NY 11385 Full Service B&M $64,530
    Maspeth Federal Savings and Loan Association 801 Jericho Turnpike New Hyde Park, NY 11040 Full Service B&M $146,479

    For 2021, Maspeth Federal Savings And Loan Association had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $75,297
    Net interest income $66,546
    Total noninterest income $596
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $5
    Trading account gains and fees $0
    Additional Noninterest Income $591
    Pre-tax net operating income $28,632
    Securities gains (or losses, -) $0
    Income before extraordinary items $21,768
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,768
    Minority interest net income $0
    Net income $21,768
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,768

    Maspeth Federal Savings And Loan Association's gross interest income from loans was $75,297,000.
    Maspeth Federal Savings And Loan Association's net interest income from loans was $66,546,000.
    Maspeth Federal Savings And Loan Association's fee based income from loans was $5,000.
    Maspeth Federal Savings And Loan Association's net income from loans was $21,768,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,751
    Provision for credit losses $-451
    Total noninterest expense $38,961
    Salaries and employee benefits $18,582
    Premises and equipment expense $4,263
    Additional noninterest expense $16,116
    Applicable income taxes $6,864
    Net charge-offs $15
    Cash dividends $0

    Maspeth Federal Savings And Loan Association's interest expense for loans was $8,751,000.
    Maspeth Federal Savings And Loan Association's payroll and benefits expense were $18,582,000.
    Maspeth Federal Savings And Loan Association's property, plant and equipment expenses $4,263,000.

    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 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 $1,485,057
    Deposits held in domestic offices $1,485,057
    Deposits by Individuals, partnerships, and corporations $1,485,057
    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 $196,654
    Demand deposits $52,275
    Nontransaction accounts $1,288,403
    Money market deposit accounts (MMDAs) $24,547
    Other savings deposits (excluding MMDAs) $830,691
    Total time deposits $433,165
    Total time and savings deposits $1,432,782
    Noninterest-bearing deposits $52,275
    Interest-bearing deposits $1,432,782
    Retail deposits $1,416,400
    IRAs and Keogh plan accounts $85,075
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,207,009
    Cash & Balances due from depository institutions $306,251
    Interest-bearing balances $293,302
    Total securities $67,261
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,781,697
    Loan and leases loss allowance $17,570
    Trading account assets $0
    Bank premises and fixed assets $21,438
    Other real estate owned $2,978
    Goodwill and other intangibles $0
    All other assets $27,384

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,207,009
    Total Liabilities $1,524,698
    Total deposits $1,485,057
    Interest-bearing deposits $1,432,782
    Deposits held in domestic offices $1,485,057
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,000
    Subordinated debt $0
    All other liabilities $27,641

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,781,697
    Loan and leases loss allowance $17,570
    Total loans and leases (domestic) $1,799,267
    All real estate loans $1,799,187
    Real estate loans in domestic offices $1,799,187
    Construction and development loans $57,815
    Residential 1-4 family construction $3,718
    Other construction, all land development and other land $54,097
    Loans secured by nonfarm nonresidential properties $486,323
    Nonfarm nonresidential secured by owner-occupied properties $7,341
    Commercial real estate & other non-farm, non-residential $478,982
    Multifamily residential real estate $300,304
    1-4 family residential loans $954,745
    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 $80
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $80
    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 $5,652
    Non 1-4 family restructured loans & leases $820
    Total loans and leases (foreign) $0

    Maspeth Federal Savings and Loan Association had $1,781,697,000 of loans outstanding in 2021. $1,799,187,000 of loans were in real estate loans. $57,815,000 of loans were in development loans. $300,304,000 of loans were in multifamily mortgage loans. $954,745,000 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 561 $205,734 $366,727
    Nonfarm, nonresidential loans - <$100k 17 $375 $22,059
    Nonfarm, nonresidential loans - $100-250k 71 $7,861 $110,718
    Nonfarm, nonresidential loans - $250k-1MM 473 $197,498 $417,543