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, 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 by origination volume include: Los Angeles, Riverside, Oxnard, San Francisco, and San Diego among others. We have data for 18 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 a high 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

    541

    Origination Dollar Volume (All Markets)

    $288,335,000

    Awards

    MORTGAGE 2000 VA Loans silver
    Show all (1) awards

    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) 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.

    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.

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 825
    Chaffey Federal Credit Union
    Similarity Rank: 966
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400
    Water and Power Community Credit Union
    Similarity Rank: 1484
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FRONTWAVE
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mortgage 2000's most frequently originated type of loan was Conventional, with 524 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mortgage 2000's most frequently cited loan purpose was Refi, with 267 originations. The 2nd most popular reason was 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 2021, Mortgage 2000's most frequently cited loan duration was 30 Year, with 488 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 379 $196,535,000 $518,562
    $5k+ 99 $64,945,000 $656,010
    $3k-4k 25 $10,555,000 $422,200
    $4k-5k 20 $8,430,000 $421,500
    $2k-3k 12 $4,710,000 $392,500
    $<1k 6 $3,160,000 $526,667

    Mortgage 2000's average total fees were $8,426, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.00%, while their most frequently originated rate bucket for loans was 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
    98.92%

    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
    81.52%

    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%