Merchants And Manufacturers Bank Mortgage Rates, Fees & Info
Joliet, ILLEI: 549300QWUZ3ZGKKC7W73
Tax ID: 36-2664246
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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.
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Originations
71Origination Dollar Volume (All Markets)
$22,285,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
2023 saw Merchants And Manufacturers Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,680,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications96.39%
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 origination95.77%
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 |