Specialized Loan Servicing Mortgage Rates, Fees & Info

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LEI: 549300QSUEE20YO86W39

Tax ID: 33-1050584

5 stars - out of 5 stars, based on 3 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Specialized Loan Servicing is a smaller mortgage company specializing in Refi and Cash Out Refi loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Nashville, Dallas, Orlando, San Antonio, and Philadelphia among others. We have data for 8 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 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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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.29% 10/3/22
    30 Year Conventional Refi 6.29% 10/3/22
    30 Year Cash-out Refi 6.29% 10/3/22
    30 Year FHA Purchase 6.29% 10/3/22
    30 Year FHA Refi 6.29% 10/3/22
    15 Year Conventional Purchase 5.96% 10/3/22
    15 Year Conventional Refi 5.96% 10/3/22
    15 Year Cash-out Refi 5.96% 10/3/22
    15 Year FHA Refi 5.96% 10/3/22
    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.


    Originations

    8

    Origination Dollar Volume (All Markets)

    $1,620,000

    Relative Rate

    Specialized Loan Servicing 's average 30 year fixed mortgage rate was 2.25%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.9%.

    Relative Fees (Closing Costs)

    Specialized Loan Servicing 's average total fees/closing costs for a 30 year fixed rate mortgage were $6,062.

    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 $4,750.

    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
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $6,941 2.25%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $235,000 $235,000 $6,381 2.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $235,000 $235,000 $6,204 2.25%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,727 2.25%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $205,000 $205,000 $6,168 2.25%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $165,000 $165,000 $4,215 2.25%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $4,271 2.25%
    SUMTER, SC (FHA|USDA|VA) 1 $125,000 $125,000 $4,129 2.25%

    Specialized Loan Servicing 's top markets include Nashville, Dallas, Orlando, San Antonio, and Philadelphia among others.

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 8 $1,620,000 $202,500 $5,629 2.25%

    For 2021, Specialized Loan Servicing 's most frequently originated type of loan was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 4 $820,000 $205,000 $5,860 2.25%
    Cash Out Refi 4 $800,000 $200,000 $5,399 2.25%

    For 2021, Specialized Loan Servicing 's most frequently cited loan purpose was Refi, with 4 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5 $1,095,000 $219,000 $6,062 2.25%
    Other 3 $525,000 $175,000 $4,908 2.25%

    For 2021, Specialized Loan Servicing 's most frequently cited loan duration was 30 Year, with 5 originations. The 2nd most popular length was Other, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 8 $1,620,000 $202,500

    Specialized Loan Servicing 's average total fees were $6,062, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 8 $1,620,000 $202,500

    During 2021, Specialized Loan Servicing 's average interest rate for loans was 2.25%, while their most frequently originated rate bucket for loans was <2.5%, with 8 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 5 $1,175,000 $235,000 $6,484 2.25%
    $100k-200k 3 $445,000 $148,333 $4,205 2.25%

    2021 saw Specialized Loan Servicing place emphasis on $200k-400k loans with 5 originations, totaling $1,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 4 $860,000 $215,000 $5,882 2.25%
    $50k-75k 2 $280,000 $140,000 $4,200 2.25%
    $75k-100k 2 $480,000 $240,000 $6,554 2.25%

    Specialized Loan Servicing lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $50k-75k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 3 $595,000 $198,333 $5,606 2.25%
    37% 1 $125,000 $125,000 $4,129 2.25%
    39% 1 $275,000 $275,000 $6,941 2.25%
    40% 1 $225,000 $225,000 $6,727 2.25%
    43% 1 $235,000 $235,000 $6,204 2.25%
    50-60% 1 $165,000 $165,000 $4,215 2.25%

    Specialized Loan Servicing lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 37%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6 $1,250,000 $208,333 $5,775 2.25%
    Black 2 $370,000 $185,000 $5,191 2.25%

    Approval Rates

    Total approvals of all applications
    99.37%

    Specialized Loan Servicing 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
    75.00%

    Specialized Loan Servicing has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 8 $1,620,000 $202,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    8 $1,620,000 $202,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    60-80% 6 $1,220,000 $203,333 $5,769 2.25%
    80-100% 2 $400,000 $200,000 $5,210 2.25%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 31 3.6%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Closing on a mortgage 22 2.5%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Improper use of your report 1 0.1%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Incorrect information on your report 25 2.9%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 3 0.3%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Problem with credit report or credit score 2 0.2%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Struggling to pay mortgage 239 27.6%
    Specialized Loan Servicing Holdings LLC Conventional home mortgage Trouble during payment process 322 37.2%
    Specialized Loan Servicing Holdings LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 0.3%
    Specialized Loan Servicing Holdings LLC FHA mortgage Closing on a mortgage 2 0.2%
    Specialized Loan Servicing Holdings LLC FHA mortgage Incorrect information on your report 1 0.1%
    Specialized Loan Servicing Holdings LLC FHA mortgage Struggling to pay mortgage 25 2.9%
    Specialized Loan Servicing Holdings LLC FHA mortgage Trouble during payment process 22 2.5%
    Specialized Loan Servicing Holdings LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 0.9%
    Specialized Loan Servicing Holdings LLC Home equity loan or line of credit (HELOC) Closing on a mortgage 12 1.4%
    Specialized Loan Servicing Holdings LLC Home equity loan or line of credit (HELOC) Incorrect information on your report 1 0.1%
    Specialized Loan Servicing Holdings LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 33 3.8%
    Specialized Loan Servicing Holdings LLC Home equity loan or line of credit (HELOC) Trouble during payment process 47 5.4%
    Specialized Loan Servicing Holdings LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 0.8%
    Specialized Loan Servicing Holdings LLC Other type of mortgage Closing on a mortgage 1 0.1%
    Specialized Loan Servicing Holdings LLC Other type of mortgage Incorrect information on your report 1 0.1%
    Specialized Loan Servicing Holdings LLC Other type of mortgage Struggling to pay mortgage 31 3.6%
    Specialized Loan Servicing Holdings LLC Other type of mortgage Trouble during payment process 24 2.8%
    Specialized Loan Servicing Holdings LLC VA mortgage Struggling to pay mortgage 1 0.1%
    Specialized Loan Servicing Holdings LLC VA mortgage Trouble during payment process 2 0.2%