Merchants And Manufacturers Bank Mortgage Rates, Fees & Info

Joliet, IL

LEI: 549300QWUZ3ZGKKC7W73

Tax ID: 36-2664246

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Merchants And Manufacturers Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Merchants And Manufacturers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Seattle, Niles, Peoria, and Fond Du Lac among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Merchants And Manufacturers Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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

71

Origination Dollar Volume (All Markets)

$22,285,000

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 61 $19,245,000 $315,492 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
NILES, MI (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
PEORIA, IL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
KANKAKEE, IL (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Merchants And Manufacturers Bank's top markets include Chicago, Seattle, Niles, Peoria, and Fond Du Lac among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 71 $22,285,000 $313,873 $0 0.00%

    For 2023, Merchants And Manufacturers Bank's most frequently originated type of loan was Conventional, with 71 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $7,935,000 $293,889 $0 0.00%
    Cash Out Refi 17 $6,265,000 $368,529 $0 0.00%
    Other 11 $1,925,000 $175,000 $0 0.00%
    Refi 9 $5,595,000 $621,667 $0 0.00%
    Home Improvement 7 $565,000 $80,714 $0 0.00%

    For 2023, Merchants And Manufacturers Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 71 $22,285,000 $313,873 $0 0.00%

    For 2023, Merchants And Manufacturers Bank's most frequently cited loan duration was Other, with 71 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,680,000 $148,889 $0 0.00%
    $100,000 or less 17 $925,000 $54,412 $0 0.00%
    $200k-400k 17 $4,765,000 $280,294 $0 0.00%
    $400k-600k 8 $3,670,000 $458,750 $0 0.00%
    $600k-1MM 7 $4,845,000 $692,143 $0 0.00%
    $1MM+ 4 $5,400,000 $1,350,000 $0 0.00%

    2023 saw Merchants And Manufacturers Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $1,155,000 $105,000 $0 0.00%
    $75k-100k 11 $1,435,000 $130,455 $0 0.00%
    $250k+ 9 $4,945,000 $549,444 $0 0.00%
    $150k-250k 8 $1,670,000 $208,750 $0 0.00%
    $50k-75k 8 $1,240,000 $155,000 $0 0.00%
    $100k-150k 6 $1,270,000 $211,667 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $75k-100k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 71 $22,285,000 $313,873 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with DTI ratios of Exempt%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 18 $10,570,000 $587,222 $0 0.00%
    White 41 $8,335,000 $203,293 $0 0.00%
    Not provided 11 $3,285,000 $298,636 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.39%

    Merchants And Manufacturers 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 origination
    95.77%

    Merchants And Manufacturers Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 71 $22,285,000 $313,873

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    71 $22,285,000 $313,873