Communication Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300V71V12DS7RW675
Tax ID: 73-0582460
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Mortgage Data
Review & Overview
Communication is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Communication has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Oklahoma City, Tulsa, Shawnee, Lawton, and Kansas City among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Communication 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. Communication is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 11/22/24 |
| 30 Year Conventional Refi | 6.25% | 11/22/24 |
| 30 Year Cash-out Refi | 6.58% | 11/22/24 |
| 30 Year FHA Purchase | 7.58% | 11/22/24 |
| 30 Year VA Purchase | 6.17% | 11/22/24 |
| 30 Year USDA Purchase | 7.25% | 11/22/24 |
| 15 Year Conventional Purchase | 6.79% | 11/22/24 |
| 15 Year Conventional Refi | 6.42% | 11/22/24 |
| 15 Year Cash-out Refi | 6.42% | 11/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Communication Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
263Origination Dollar Volume (All Markets)
$38,495,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 129 | $18,455,000 | $143,062 | $1,128 | 3.51% |
| TULSA, OK (FHA|USDA|VA) | 67 | $11,285,000 | $168,433 | $1,544 | 3.49% |
| Outside of Metro Areas | 15 | $2,105,000 | $140,333 | $1,159 | 3.66% |
| Shawnee, OK (FHA|USDA|VA) | 8 | $1,310,000 | $163,750 | $515 | 3.12% |
| LAWTON, OK (FHA|USDA|VA) | 12 | $1,210,000 | $100,833 | $728 | 3.80% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $2,098 | 4.12% |
| TOPEKA, KS (FHA|USDA|VA) | 8 | $850,000 | $106,250 | $0 | 3.50% |
| Ardmore, OK (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $1,205 | 2.94% |
| ENID, OK (FHA|USDA|VA) | 6 | $370,000 | $61,667 | $167 | 3.54% |
| Stillwater, OK (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,612 | 2.94% |
| Muskogee, OK (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 2.94% |
| Ponca City, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,140 | 2.25% |
| Woodward, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.38% |
| Ada, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.50% |
| Guymon, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.00% |
| Elk City, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $575 | 2.88% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMMUNICATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 261 | $38,245,000 | $146,533 | $1,125 | 3.48% |
| FHA | 2 | $250,000 | $125,000 | $5,524 | 3.00% |
For 2021, Communication's most frequently originated type of loan was Conventional, with 261 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2021, Communication's most frequently cited loan purpose was Home Purchase, with 81 originations. The 2nd most popular reason was Other, with 68 originations.
Loan Duration/Length
For 2021, Communication's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 15 Year, with 106 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 187 | $21,865,000 | $116,925 |
| $1k-2k | 72 | $15,610,000 | $216,806 |
| $2k-3k | 1 | $635,000 | $635,000 |
| $4k-5k | 1 | $325,000 | $325,000 |
Communication's average total fees were $1,675, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 187 originations.
Interest Rates
During 2021, Communication's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 2.5-3%, with 109 originations.
Loan Sizing
2021 saw Communication place emphasis on $100,000 or less loans with 118 originations, totaling $6,830,000 in origination value.
Applicant Income
Communication lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $50k-75k, with 58 originations.
Applicant Debt to Income Ratio
Communication lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 55 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.40%
Communication has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination59.32%
Communication 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 | 263 | $38,495,000 | $146,369 |