Specialized Loan Servicing Mortgage Rates, Fees & Info
,LEI: 549300QSUEE20YO86W39
Tax ID: 33-1050584
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Mortgage Data
Review & Overview
Specialized Loan Servicing is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Specialized Loan Servicing has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, San Francisco, Memphis, Indianapolis, and Miami among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Specialized Loan Servicing 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. Specialized Loan Servicing is typically a low 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 30 Year FHA Refi | 6.68% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Specialized Loan Servicing Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
10Origination Dollar Volume (All Markets)
$1,690,000Relative Rate
Specialized Loan Servicing's average 30 year fixed mortgage rate was
7.14%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.66%.
Relative Fees (Closing Costs)
Specialized Loan Servicing's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,199.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 1 | $365,000 | $365,000 | $2,756 | 7.25% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,487 | 6.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $9,447 | 6.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,782 | 7.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,169 | 7.13% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,872 | 6.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,716 | 6.88% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,463 | 6.13% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,366 | 7.88% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,706 | 7.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10 | $1,690,000 | $169,000 | $4,176 | 7.09% |
For 2023, Specialized Loan Servicing's most frequently originated type of loan was Conventional, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 9 | $1,345,000 | $149,444 | $4,253 | 7.11% |
| Refi | 1 | $345,000 | $345,000 | $3,487 | 6.88% |
For 2023, Specialized Loan Servicing's most frequently cited loan purpose was Cash Out Refi, with 9 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 8 | $1,510,000 | $188,750 | $4,199 | 7.14% |
| 15 Year | 1 | $95,000 | $95,000 | $5,463 | 6.13% |
| 20 Year | 1 | $85,000 | $85,000 | $2,706 | 7.63% |
For 2023, Specialized Loan Servicing's most frequently cited loan duration was 30 Year, with 8 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $710,000 | $177,500 |
| $<1k | 3 | $605,000 | $201,667 |
| $2k-3k | 1 | $105,000 | $105,000 |
| $3k-4k | 1 | $95,000 | $95,000 |
| $5k+ | 1 | $175,000 | $175,000 |
Specialized Loan Servicing's average total fees were $4,199, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 5 | $835,000 | $167,000 |
| 7-8% | 5 | $855,000 | $171,000 |
During 2023, Specialized Loan Servicing's average interest rate for loans was 7.14%, while their most frequently originated rate bucket for loans was 6-7%, with 5 originations.
Loan Sizing
2023 saw Specialized Loan Servicing place emphasis on $100k-200k loans with 5 originations, totaling $705,000 in origination value.
Applicant Income
Specialized Loan Servicing lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $75k-100k, with 3 originations.
Applicant Debt to Income Ratio
Specialized Loan Servicing lent most frequently to those with DTI ratios of 42%, with 2 originations. The next most common DTI ratio? 43%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.41%
Specialized Loan Servicing has an average approval rate.
Pick Rate
Approvals leading to origination10.00%
Specialized Loan Servicing has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10 | $1,690,000 | $169,000 |