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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Merchants And Manufacturers Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Merchants And Manufacturers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Naples, and Ottawa among others. We have data for 3 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.

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    Originations

    65

    Origination Dollar Volume (All Markets)

    $22,775,000

    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) 63 $21,325,000 $338,492 $0 0.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 0.00%
    Ottawa, IL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Merchants And Manufacturers Bank's top markets include Chicago, Naples, and Ottawa among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $22,775,000 $350,385 $0 0.00%

    For 2022, Merchants And Manufacturers Bank's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $8,885,000 $329,074 $0 0.00%
    Cash Out Refi 15 $7,865,000 $524,333 $0 0.00%
    Other 9 $1,075,000 $119,444 $0 0.00%
    Refi 9 $4,035,000 $448,333 $0 0.00%
    Home Improvement 5 $915,000 $183,000 $0 0.00%

    For 2022, 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 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 65 $22,775,000 $350,385 $0 0.00%

    For 2022, Merchants And Manufacturers Bank's most frequently cited loan duration was Other, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 18 $2,580,000 $143,333 $0 0.00%
    $200k-400k 16 $4,250,000 $265,625 $0 0.00%
    $100,000 or less 12 $600,000 $50,000 $0 0.00%
    $400k-600k 10 $4,660,000 $466,000 $0 0.00%
    $600k-1MM 5 $3,425,000 $685,000 $0 0.00%
    $1MM+ 4 $7,260,000 $1,815,000 $0 0.00%

    2022 saw Merchants And Manufacturers Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 10 $2,360,000 $236,000 $0 0.00%
    $100k-150k 8 $1,200,000 $150,000 $0 0.00%
    $50k-75k 8 $880,000 $110,000 $0 0.00%
    $250k+ 7 $2,085,000 $297,857 $0 0.00%
    $75k-100k 7 $1,315,000 $187,857 $0 0.00%
    $50k or less 2 $170,000 $85,000 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 65 $22,775,000 $350,385 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with DTI ratios of Exempt%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $13,745,000 $654,524 $0 0.00%
    White 27 $5,695,000 $210,926 $0 0.00%
    Not provided 11 $2,185,000 $198,636 $0 0.00%
    Asian 4 $840,000 $210,000 $0 0.00%
    Black 1 $285,000 $285,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.68%

    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
    92.31%

    Merchants And Manufacturers Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 65 $22,775,000 $350,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    65 $22,775,000 $350,385