Embark Mortgage Rates, Fees & Info

Great Falls, MT

LEI: 549300QXTT2NBSRNYO73

Tax ID: 81-0247002

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Embark is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Embark has a high proportion of conventional loans. Their top markets by origination volume include: Great Falls, Billings, and Helena among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Embark has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 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.

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    Originations

    91

    Origination Dollar Volume (All Markets)

    $4,615,000

    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
    GREAT FALLS, MT (FHA|USDA|VA) 85 $4,245,000 $49,941 $1,835 5.57%
    Outside of Metro Areas 4 $250,000 $62,500 $0 6.43%
    BILLINGS, MT (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.25%
    Helena, MT (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.25%
    Embark's top markets include Great Falls, Billings, and Helena among others.

    Their top states include:
  • Montana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $4,615,000 $50,714 $1,835 5.61%

    For 2019, Embark's most frequently originated type of loan was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 56 $2,720,000 $48,571 $0 5.25%
    Home Purchase 25 $1,515,000 $60,600 $1,835 6.45%
    Home Improvement 5 $115,000 $23,000 $0 5.74%
    Refi 5 $265,000 $53,000 $0 5.20%

    For 2019, Embark's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 44 $2,940,000 $66,818 $1,835 6.11%
    10 Year 19 $745,000 $39,211 $0 5.89%
    5 Year 19 $615,000 $32,368 $0 4.32%
    Other 8 $190,000 $23,750 $0 5.34%
    30 Year 1 $125,000 $125,000 $0 4.63%

    For 2019, Embark's most frequently cited loan duration was 15 Year, with 44 originations. The 2nd most popular length was 10 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 62 $2,760,000 $44,516
    $1k-2k 26 $1,460,000 $56,154
    $2k-3k 3 $395,000 $131,667

    Embark's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 36 $2,090,000 $58,056
    6-7% 29 $1,325,000 $45,690
    5-6% 23 $1,105,000 $48,043
    7-8% 2 $70,000 $35,000
    3-4% 1 $25,000 $25,000

    During 2019, Embark's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 80 $3,160,000 $39,500 $1,835 5.66%
    $100k-200k 10 $1,200,000 $120,000 $0 5.19%
    $200k-400k 1 $255,000 $255,000 $0 5.00%

    2019 saw Embark place emphasis on $100,000 or less loans with 80 originations, totaling $3,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,265,000 $46,852 $1,835 5.88%
    $50k-75k 24 $1,130,000 $47,083 $0 5.53%
    $75k-100k 18 $1,240,000 $68,889 $0 5.62%
    $100k-150k 14 $510,000 $36,429 $0 5.02%
    $150k-250k 7 $365,000 $52,143 $0 5.78%
    $250k+ 1 $105,000 $105,000 $0 6.75%

    Embark lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 20 $900,000 $45,000 $1,835 6.08%
    20-30% 15 $795,000 $53,000 $0 5.47%
    <20% 10 $400,000 $40,000 $0 5.42%
    50-60% 10 $530,000 $53,000 $0 5.70%
    42% 5 $275,000 $55,000 $0 6.20%
    40% 5 $405,000 $81,000 $0 4.90%
    44% 4 $210,000 $52,500 $0 5.19%
    39% 4 $230,000 $57,500 $0 5.44%
    36% 4 $340,000 $85,000 $0 5.81%
    38% 3 $165,000 $55,000 $0 5.50%
    45% 3 $65,000 $21,667 $0 4.58%
    37% 1 $25,000 $25,000 $0 4.25%
    >60% 1 $55,000 $55,000 $0 6.99%
    46% 1 $35,000 $35,000 $0 6.00%
    47% 1 $15,000 $15,000 $0 4.25%
    48% 1 $25,000 $25,000 $0 4.25%
    49% 1 $45,000 $45,000 $0 6.75%
    41% 1 $85,000 $85,000 $0 5.25%
    43% 1 $15,000 $15,000 $0 6.00%

    Embark lent most frequently to those with DTI ratios of 30-36%, with 20 originations. The next most common DTI ratio? 20-30%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 86 $4,340,000 $50,465 $1,835 5.61%
    American Indian 4 $230,000 $57,500 $0 5.19%
    Asian 1 $45,000 $45,000 $0 6.99%

    Approval Rates

    Total approvals of all applications
    83.12%

    Embark has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.54%

    Embark 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 91 $4,615,000 $50,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 23 $1,265,000 $55,000
    Single Family (1-4 Units):Site-Built 68 $3,350,000 $49,265

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $835,000 $49,118 $0 5.44%
    40-60% 7 $825,000 $117,857 $0 5.18%
    60-80% 8 $420,000 $52,500 $0 6.43%
    80-100% 20 $1,390,000 $69,500 $1,835 6.15%
    Under 20% 39 $1,145,000 $29,359 $0 5.31%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    EMBRACE HOME LOANS FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%
    EMBRACE HOME LOANS FHA mortgage Trouble during payment process 2 50.0%