Mortgage 2000 Rates, Fees & Info

REDONDO BEACH, CA

LEI: 549300NK1QGOPLHFHL22

Tax ID: 33-0801082

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
  • Complaints
  • 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)

    • Review & Overview

    Mortgage 2000 is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Mortgage 2000 has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, Sacramento, and Madera among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage 2000 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. Mortgage 2000 is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    124

    Origination Dollar Volume (All Markets)

    $55,440,000

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 104 $49,420,000 $475,192 $7,094 4.76%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 16 $4,500,000 $281,250 $6,025 4.76%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $605,000 $605,000 $6,032 3.88%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $395,000 $395,000 $4,411 4.75%
    MADERA, CA (FHA|USDA|VA) 1 $345,000 $345,000 $4,307 5.13%
    VISALIA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $4,516 4.75%
    Mortgage 2000's top markets include Los Angeles, Riverside, San Francisco, Sacramento, and Madera among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MORTGAGE 2000 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FRONTWAVE
    Similarity Rank: 92
    Montecito Bank & Trust
    Similarity Rank: 126
    CBC Federal Credit Union
    Similarity Rank: 189
    LBS FINANCIAL
    Similarity Rank: 210
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Water and Power Community Credit Union
    Similarity Rank: 500
    Christian Community Credit Union
    Similarity Rank: 515
    ALTA VISTA CREDIT UNION
    Similarity Rank: 612
    PASADENA SERVICE FEDERAL CREDIT UNION
    Similarity Rank: 612
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 732

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 118 $52,020,000 $440,847 $6,486 4.77%
    VA 5 $2,815,000 $563,000 $16,191 4.38%
    Reverse Mortgage 1 $605,000 $605,000 $0 0.00%

    For 2018, Mortgage 2000's most frequently originated type of loan was Conventional, with 118 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 58 $25,170,000 $433,966 $6,860 4.77%
    Home Purchase 43 $20,225,000 $470,349 $7,600 4.85%
    Refi 23 $10,045,000 $436,739 $5,588 4.54%

    For 2018, Mortgage 2000's most frequently cited loan purpose was Cash Out Refi, with 58 originations. The 2nd most popular reason was Home Purchase, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 117 $52,755,000 $450,897 $6,986 4.78%
    15 Year 4 $1,760,000 $440,000 $4,938 4.31%
    10 Year 1 $105,000 $105,000 $5,402 4.50%
    20 Year 1 $215,000 $215,000 $3,770 4.25%
    Other 1 $605,000 $605,000 $0 0.00%

    For 2018, Mortgage 2000's most frequently cited loan duration was 30 Year, with 117 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 69 $31,385,000 $454,855
    $5k+ 26 $13,170,000 $506,538
    $4k-5k 14 $6,160,000 $440,000
    $3k-4k 7 $2,545,000 $363,571
    $2k-3k 4 $700,000 $175,000
    $<1k 3 $875,000 $291,667

    Mortgage 2000's average total fees were $6,986, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 69 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 96 $42,030,000 $437,813
    5-6% 18 $8,820,000 $490,000
    3-4% 8 $3,430,000 $428,750
    7-8% 1 $555,000 $555,000

    During 2018, Mortgage 2000's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $14,575,000 $310,106 $6,025 4.66%
    $400k-600k 37 $17,975,000 $485,811 $6,840 4.85%
    $600k-1MM 27 $17,975,000 $665,741 $9,634 4.79%
    $100k-200k 9 $1,405,000 $156,111 $3,986 4.76%
    $1MM+ 3 $3,415,000 $1,138,333 $6,533 4.79%
    $100,000 or less 1 $95,000 $95,000 $4,117 4.63%

    2018 saw Mortgage 2000 place emphasis on $200k-400k loans with 47 originations, totaling $14,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $16,995,000 $459,324 $8,540 4.79%
    $150k-250k 24 $12,620,000 $525,833 $7,030 4.81%
    $250k+ 20 $11,990,000 $599,500 $6,296 4.78%
    $75k-100k 19 $6,945,000 $365,526 $5,538 4.70%
    $50k-75k 14 $3,640,000 $260,000 $5,381 4.49%
    $50k or less 9 $2,615,000 $290,556 $5,483 5.02%

    Mortgage 2000 lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $10,530,000 $478,636 $6,598 4.76%
    30-36% 15 $6,635,000 $442,333 $6,207 4.64%
    48% 15 $6,785,000 $452,333 $7,898 4.77%
    45% 8 $3,040,000 $380,000 $6,259 4.67%
    36% 8 $3,930,000 $491,250 $4,369 4.66%
    <20% 8 $2,350,000 $293,750 $5,262 5.16%
    46% 7 $3,185,000 $455,000 $8,058 4.64%
    49% 5 $1,365,000 $273,000 $5,980 4.60%
    47% 5 $2,455,000 $491,000 $9,349 4.55%
    44% 5 $2,015,000 $403,000 $9,920 4.82%
    37% 5 $2,315,000 $463,000 $6,454 4.83%
    41% 4 $2,520,000 $630,000 $7,639 4.78%
    38% 4 $1,510,000 $377,500 $5,006 4.65%
    50-60% 3 $1,575,000 $525,000 $14,873 4.67%
    39% 3 $1,435,000 $478,333 $5,277 4.63%
    43% 3 $1,555,000 $518,333 $6,099 4.87%
    42% 2 $1,550,000 $775,000 $6,810 5.44%
    40% 2 $690,000 $345,000 $5,606 5.25%

    Mortgage 2000 lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 101 $44,325,000 $438,861 $7,077 4.75%
    Asian 10 $5,980,000 $598,000 $5,330 4.94%
    Black 6 $2,690,000 $448,333 $6,476 4.63%
    American Indian 2 $880,000 $440,000 $7,760 5.00%
    Not provided 2 $690,000 $345,000 $4,650 4.63%
    Filipino 2 $520,000 $260,000 $7,447 4.38%
    Chinese 1 $355,000 $355,000 $4,965 4.99%

    Approval Rates

    Total approvals of all applications
    98.67%

    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
    80.65%

    Mortgage 2000 has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 124 $55,440,000 $447,097

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 124 $55,440,000 $447,097

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $5,095,000 $391,923 $5,041 4.69%
    40-60% 27 $11,295,000 $418,333 $6,286 4.66%
    60-80% 58 $27,690,000 $477,414 $7,684 4.84%
    80-100% 20 $9,680,000 $484,000 $6,471 4.78%
    Over 100% 1 $615,000 $615,000 $18,430 4.38%
    Under 20% 5 $1,065,000 $213,000 $4,524 4.42%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MORTGAGE CENTER, LC Conventional home mortgage Closing on a mortgage 1 50.0%
    MORTGAGE CENTER, LC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%