Members First Credit Union Mortgage Rates, Fees & Info
Corpus Christi, TXLEI: 549300TJ1PI0CYX4D722
Tax ID: 74-1142836
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Members First Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Members First Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corpus Christi, Brownsville, and Houston among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Members First Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
17Origination Dollar Volume (All Markets)
$1,675,000Top 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 |
|---|---|---|---|---|---|
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 12 | $1,390,000 | $115,833 | $0 | 0.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 4 | $180,000 | $45,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $1,675,000 | $98,529 | $0 | 0.00% |
For 2020, Members First Credit Union's most frequently originated type of loan was Conventional, with 17 originations.
Loan Reason
For 2020, Members First Credit Union's most frequently cited loan purpose was Refi, with 7 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 |
|---|---|---|---|---|---|
| Other | 10 | $970,000 | $97,000 | $0 | 0.00% |
| 15 Year | 6 | $480,000 | $80,000 | $0 | 0.00% |
| 1 Year | 1 | $225,000 | $225,000 | $0 | 0.00% |
For 2020, Members First Credit Union's most frequently cited loan duration was Other, with 10 originations. The 2nd most popular length was 15 Year, with 6 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 9 | $525,000 | $58,333 | $0 | 0.00% |
| $100k-200k | 6 | $710,000 | $118,333 | $0 | 0.00% |
| $200k-400k | 2 | $440,000 | $220,000 | $0 | 0.00% |
2020 saw Members First Credit Union place emphasis on $100,000 or less loans with 9 originations, totaling $525,000 in origination value.
Applicant Income
Members First Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
Members First Credit Union lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 16 | $1,550,000 | $96,875 | $0 | 0.00% |
| Filipino | 1 | $125,000 | $125,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications60.00%
Members First Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination29.41%
Members First Credit Union 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 | 17 | $1,675,000 | $98,529 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 17 | $1,675,000 | $98,529 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| MEMBER FIRST MORTGAGE, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |