Morganton Savings Bank Mortgage Rates, Fees & Info
Morganton, NCLEI: 549300OEXEKLSIBK2I37
Tax ID: 56-0327830
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Morganton Savings Bank is a smaller bank specializing in Other and Home Purchase loans. Morganton Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hickory, Marion, Charlotte, and Myrtle Beach among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Morganton Savings Bank 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.
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Originations
68Origination Dollar Volume (All Markets)
$20,070,000Top 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 |
---|---|---|---|---|---|
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 51 | $13,645,000 | $267,549 | $0 | 0.00% |
Marion, NC (FHA|USDA|VA) | 15 | $6,185,000 | $412,333 | $0 | 0.00% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Their top states include:
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 68 | $20,070,000 | $295,147 | $0 | 0.00% |
For 2019, Morganton Savings Bank's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
For 2019, Morganton Savings Bank's most frequently cited loan purpose was Other, with 29 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 68 | $20,070,000 | $295,147 | $0 | 0.00% |
For 2019, Morganton Savings Bank's most frequently cited loan duration was Other, with 68 originations.
Loan Sizing
2019 saw Morganton Savings Bank place emphasis on $200k-400k loans with 22 originations, totaling $6,030,000 in origination value.
Applicant Income
Morganton Savings Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $250k+, with 12 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 68 | $20,070,000 | $295,147 | $0 | 0.00% |
Morganton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.65%
Morganton Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination77.94%
Morganton Savings Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
Exempt | 68 | $20,070,000 | $295,147 |
Occupancy Type Mix
Complaints
Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
MORGAN STANLEY & CO. LLC | Conventional home mortgage | Closing on a mortgage | 1 | 8.3% |
MORGAN STANLEY & CO. LLC | Conventional home mortgage | Incorrect information on your report | 1 | 8.3% |
MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 25.0% |
MORGAN STANLEY & CO. LLC | Conventional home mortgage | Trouble during payment process | 6 | 50.0% |
MORGAN STANLEY & CO. LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 8.3% |