Mortgage 2000 Rates, Fees & Info

REDONDO BEACH, CA

LEI: 549300NK1QGOPLHFHL22

Tax ID: 33-0801082

1.8 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage 2000 is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Mortgage 2000 has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Los Angeles, Riverside, Oxnard, San Francisco, and San Diego among others. Mortgage 2000 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. Mortgage 2000 is typically a high fee lendor.


Originations

541

Origination Dollar Volume (All Markets)

$288,335,000

Awards

MORTGAGE 2000  VA Loans silver
Show all (1) awards

Relative Rate

Mortgage 2000 's average 30 year fixed rate mortgage of loans were 3%.

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

This yields a difference of -0.15%.

Relative Fees

Mortgage 2000 's average total fees for a 30 year fixed rate mortgage are $8,426.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 432 $239,070,000 $553,403 $8,407 2.94%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 59 $23,505,000 $398,390 $5,499 2.99%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 17 $9,745,000 $573,235 $7,922 3.04%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $3,920,000 $653,333 $6,269 2.81%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $3,270,000 $545,000 $21,201 3.08%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $2,275,000 $758,333 $4,409 2.63%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $1,635,000 $545,000 $5,106 2.50%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $1,100,000 $550,000 $6,353 2.93%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $815,000 $271,667 $5,236 3.50%
MERCED, CA (FHA|USDA|VA) 1 $535,000 $535,000 $6,549 3.00%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $505,000 $505,000 $4,366 3.25%
CHICO, CA (FHA|USDA|VA) 2 $390,000 $195,000 $4,262 2.81%
VALLEJO, CA (FHA|USDA|VA) 1 $365,000 $365,000 $3,642 2.88%
Outside of Metro Areas 1 $315,000 $315,000 $7,472 2.99%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $295,000 $295,000 $4,171 3.00%
EL CENTRO, CA (FHA|USDA|VA) 1 $245,000 $245,000 $3,218 2.88%
MODESTO, CA (FHA|USDA|VA) 1 $185,000 $185,000 $3,416 2.50%
Crescent City, CA (FHA|USDA|VA) 1 $165,000 $165,000 $4,465 2.99%

Mortgage 2000 's top markets include Los Angeles, Riverside, Oxnard, San Francisco, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 524 $276,670,000 $527,996 $7,984 2.96%
VA 16 $11,300,000 $706,250 $10,372 2.50%
FHA 1 $365,000 $365,000 $9,033 2.99%

For the 2021 period, Mortgage 2000 's most frequently originated loan type of loans were Conventional, with 524 originations. Their 2nd most popular type is VA, with 16 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 267 $134,215,000 $502,678 $7,095 2.86%
Cash Out Refi 173 $92,345,000 $533,786 $9,489 3.03%
Home Purchase 101 $61,775,000 $611,634 $8,142 3.05%

For the 2021, Mortgage 2000 's most frequently cited loan purpose of loans were Refi, with 267 originations. The 2nd most popular reason of loans were Cash Out Refi, with 173 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 488 $269,200,000 $551,639 $8,426 3.00%
15 Year 30 $10,270,000 $342,333 $4,657 2.38%
20 Year 10 $3,110,000 $311,000 $5,191 2.91%
Other 9 $4,845,000 $538,333 $4,512 2.75%
10 Year 4 $910,000 $227,500 $3,614 2.16%

For the 2021, Mortgage 2000 's most frequently cited loan length of loans were 30 Year, with 488 originations. The 2nd most popular length of loans were 15 Year, with 30 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 379 $196,535,000 $518,562
$5k+ 99 $64,945,000 $656,010
$3k-4k 45 $18,985,000 $421,889
$2k-3k 12 $4,710,000 $392,500
$<1k 6 $3,160,000 $526,667

$8,426 of loans were Mortgage 2000 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 379 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 323 $171,805,000 $531,904
3-4% 152 $85,950,000 $565,461
<2.5% 62 $28,190,000 $454,677
4-5% 4 $2,390,000 $597,500

During 2021, Mortgage 2000 's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 323 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 192 $94,280,000 $491,042 $8,443 2.95%
$200k-400k 145 $45,855,000 $316,241 $4,662 2.89%
$600k-1MM 144 $104,320,000 $724,444 $11,185 2.98%
$1MM+ 32 $39,410,000 $1,231,563 $10,374 3.18%
$100k-200k 28 $4,470,000 $159,643 $4,238 2.87%

2021 saw Mortgage 2000 place emphasis on $400k-600k loans with 192 originations, totaling $94,280,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 156 $75,330,000 $482,885 $6,323 3.00%
$150k-250k 152 $86,370,000 $568,224 $9,889 2.91%
$250k+ 107 $79,525,000 $743,224 $11,753 3.02%
$75k-100k 69 $27,605,000 $400,072 $5,092 2.91%
$50k-75k 38 $10,790,000 $283,947 $4,278 2.91%
$50k or less 18 $8,320,000 $462,222 $5,188 2.69%

Mortgage 2000 lent most frequently to those with incomes in the $100k-150k range, with 156 originations. The second most popular income band? $150k-250k, with 152 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 119 $61,655,000 $518,109 $10,618 2.89%
30-36% 90 $47,490,000 $527,667 $6,080 2.94%
<20% 55 $27,795,000 $505,364 $14,874 2.82%
44% 34 $20,980,000 $617,059 $7,331 2.98%
47% 22 $10,740,000 $488,182 $6,185 3.04%
42% 21 $9,205,000 $438,333 $5,118 2.95%
39% 21 $11,105,000 $528,810 $5,550 3.09%
40% 21 $12,945,000 $616,429 $5,746 3.06%
38% 20 $13,220,000 $661,000 $5,795 3.08%
41% 19 $8,935,000 $470,263 $6,441 3.01%
48% 17 $9,545,000 $561,471 $7,428 3.01%
36% 17 $10,305,000 $606,176 $6,069 2.89%
49% 16 $7,300,000 $456,250 $5,377 3.01%
43% 16 $7,410,000 $463,125 $6,883 3.09%
37% 16 $9,690,000 $605,625 $5,532 2.94%
45% 14 $6,700,000 $478,571 $5,227 2.97%
46% 11 $6,705,000 $609,545 $6,861 2.90%
50-60% 9 $4,815,000 $535,000 $8,151 2.90%
>60% 3 $1,795,000 $598,333 $8,359 3.04%

Mortgage 2000 lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 90 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 415 $215,675,000 $519,699 $8,626 2.95%
Asian 54 $29,630,000 $548,704 $5,838 2.92%
Not provided 39 $22,835,000 $585,513 $6,361 2.89%
Black 18 $11,100,000 $616,667 $7,162 3.12%
Chinese 4 $2,530,000 $632,500 $4,975 3.03%
Filipino 4 $2,510,000 $627,500 $4,513 2.91%
American Indian 3 $1,835,000 $611,667 $10,625 2.91%
Korean 1 $665,000 $665,000 $5,018 3.38%
Asian Indian 1 $665,000 $665,000 $3,777 2.75%
Other Asian 1 $555,000 $555,000 $3,771 2.75%
Samoan 1 $335,000 $335,000 $3,912 3.50%

Approval Rates

Total approvals of all applications
98.79%

Mortgage 2000 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
84.08%

Mortgage 2000 has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 541 $288,335,000 $532,967

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
541 $288,335,000 $532,967

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 95 $37,555,000 $395,316 $5,108 2.83%
40-60% 156 $79,300,000 $508,333 $8,507 2.90%
60-80% 206 $123,610,000 $600,049 $8,977 3.01%
80-100% 68 $42,700,000 $627,941 $8,937 3.04%
Over 100% 1 $595,000 $595,000 $20,793 3.00%
Under 20% 15 $4,575,000 $305,000 $4,549 2.96%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MORTGAGE CENTER, LC FHA mortgage Closing on a mortgage 1 100.0%