Mortgage 2000 Rates, Fees & Info

REDONDO BEACH, CA

LEI: 549300NK1QGOPLHFHL22

Tax ID: 33-0801082

Latest/2022 | 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 Refi and Cash Out Refi loans. Mortgage 2000 has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others. We have data for 14 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    448

    Origination Dollar Volume (All Markets)

    $202,380,000

    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) 376 $176,520,000 $469,468 $5,713 3.11%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 40 $13,010,000 $325,250 $5,221 3.28%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 12 $4,590,000 $382,500 $3,844 2.91%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,805,000 $601,667 $5,832 2.83%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,270,000 $635,000 $4,644 2.87%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,170,000 $585,000 $6,986 2.99%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $1,005,000 $335,000 $4,263 3.38%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $930,000 $465,000 $4,139 3.15%
    CHICO, CA (FHA|USDA|VA) 2 $440,000 $220,000 $4,220 2.75%
    NAPA, CA (FHA|USDA|VA) 1 $415,000 $415,000 $3,191 2.80%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $380,000 $190,000 $5,548 3.69%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $365,000 $365,000 $6,106 3.50%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $335,000 $335,000 $3,734 2.88%
    VISALIA, CA (FHA|USDA|VA) 1 $145,000 $145,000 $4,297 2.99%
    Mortgage 2000's top markets include Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others.

    Their top states include:
  • California (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.

    Chaffey Federal Credit Union
    Similarity Rank: 345
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677
    LONG BEACH FIREMEN S CREDIT UNION
    Similarity Rank: 1848
    SOUTHLAND CREDIT UNION
    Similarity Rank: 1974
    GLENDALE FEDERAL CREDIT UNION
    Similarity Rank: 2016
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 2282

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 430 $192,190,000 $446,953 $5,466 3.13%
    VA 18 $10,190,000 $566,111 $8,422 2.92%

    For 2020, Mortgage 2000's most frequently originated type of loan was Conventional, with 430 originations. Their 2nd most popular type was VA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 293 $130,275,000 $444,625 $5,139 3.01%
    Cash Out Refi 102 $46,470,000 $455,588 $6,410 3.34%
    Home Purchase 53 $25,635,000 $483,679 $6,457 3.34%

    For 2020, Mortgage 2000's most frequently cited loan purpose was Refi, with 293 originations. The 2nd most popular reason was Cash Out Refi, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 390 $180,470,000 $462,744 $5,665 3.17%
    15 Year 29 $10,555,000 $363,966 $5,286 2.70%
    20 Year 15 $5,815,000 $387,667 $4,178 3.03%
    Other 12 $4,980,000 $415,000 $5,661 2.76%
    10 Year 2 $560,000 $280,000 $4,273 2.38%

    For 2020, Mortgage 2000's most frequently cited loan duration was 30 Year, with 390 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 318 $139,540,000 $438,805
    $5k+ 76 $42,030,000 $553,026
    $3k-4k 27 $9,705,000 $359,444
    $4k-5k 17 $6,945,000 $408,529
    $2k-3k 9 $3,725,000 $413,889
    $<1k 1 $435,000 $435,000

    Mortgage 2000's average total fees were $5,665, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 318 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 242 $110,350,000 $455,992
    3-4% 142 $67,030,000 $472,042
    <2.5% 44 $17,430,000 $396,136
    4-5% 20 $7,570,000 $378,500

    During 2020, Mortgage 2000's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 177 $86,545,000 $488,955 $4,995 3.13%
    $200k-400k 154 $48,960,000 $317,922 $4,767 3.06%
    $600k-1MM 88 $61,520,000 $699,091 $8,020 3.16%
    $100k-200k 27 $4,155,000 $153,889 $4,417 3.30%
    $100,000 or less 1 $85,000 $85,000 $3,764 2.97%
    $1MM+ 1 $1,115,000 $1,115,000 $54,772 3.63%

    2020 saw Mortgage 2000 place emphasis on $400k-600k loans with 177 originations, totaling $86,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 131 $58,175,000 $444,084 $5,458 3.17%
    $150k-250k 128 $67,050,000 $523,828 $5,633 3.08%
    $250k+ 65 $34,685,000 $533,615 $6,899 3.16%
    $75k-100k 58 $21,460,000 $370,000 $5,098 3.21%
    $50k-75k 43 $12,965,000 $301,512 $4,813 3.08%
    $50k or less 22 $7,590,000 $345,000 $5,051 2.84%

    Mortgage 2000 lent most frequently to those with incomes in the $100k-150k range, with 131 originations. The second most popular income band? $150k-250k, with 128 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 101 $45,395,000 $449,455 $5,181 3.12%
    30-36% 79 $33,985,000 $430,190 $5,734 3.12%
    <20% 66 $29,920,000 $453,333 $5,847 2.95%
    46% 19 $8,785,000 $462,368 $4,622 3.09%
    37% 19 $9,525,000 $501,316 $6,321 3.22%
    36% 18 $8,420,000 $467,778 $6,567 3.05%
    39% 17 $8,655,000 $509,118 $5,095 3.45%
    38% 16 $7,330,000 $458,125 $5,042 3.19%
    44% 15 $7,145,000 $476,333 $5,914 3.11%
    48% 14 $4,870,000 $347,857 $4,984 3.16%
    41% 14 $6,640,000 $474,286 $4,473 3.32%
    43% 14 $5,800,000 $414,286 $6,493 3.23%
    45% 11 $5,115,000 $465,000 $5,970 3.04%
    47% 11 $4,985,000 $453,182 $6,059 3.49%
    42% 9 $4,495,000 $499,444 $6,617 3.25%
    40% 9 $3,735,000 $415,000 $6,218 2.89%
    49% 9 $4,405,000 $489,444 $6,079 3.02%
    50-60% 6 $2,660,000 $443,333 $4,675 2.91%
    >60% 1 $515,000 $515,000 $3,638 2.99%

    Mortgage 2000 lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 364 $163,110,000 $448,104 $5,623 3.12%
    Asian 44 $20,720,000 $470,909 $5,853 3.05%
    Not provided 13 $5,885,000 $452,692 $4,955 3.33%
    Black 11 $4,765,000 $433,182 $4,304 3.25%
    Asian Indian 4 $2,350,000 $587,500 $3,722 2.78%
    American Indian 4 $1,930,000 $482,500 $5,978 2.84%
    Japanese 3 $1,325,000 $441,667 $5,566 3.33%
    Native Hawaiian or Islander 2 $980,000 $490,000 $4,035 3.56%
    Filipino 2 $870,000 $435,000 $4,557 3.13%
    Other Asian 1 $445,000 $445,000 $12,942 2.75%

    Approval Rates

    Total approvals of all applications
    99.61%

    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
    86.16%

    Mortgage 2000 has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 448 $202,380,000 $451,741

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $460,000 $230,000
    Single Family (1-4 Units):Site-Built 446 $201,920,000 $452,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $22,815,000 $321,338 $4,866 3.10%
    40-60% 163 $72,915,000 $447,331 $5,014 3.03%
    60-80% 156 $78,340,000 $502,179 $6,032 3.18%
    80-100% 49 $26,275,000 $536,224 $7,336 3.26%
    Over 100% 1 $295,000 $295,000 $5,069 3.13%
    Under 20% 8 $1,740,000 $217,500 $4,189 3.29%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE CENTER, LC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 40.0%
    MORTGAGE CENTER, LC Conventional home mortgage Trouble during payment process 1 20.0%
    MORTGAGE CENTER, LC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 20.0%
    MORTGAGE CENTER, LC Conventional home mortgage Closing on a mortgage 1 20.0%