Mortgage Bank Of California Rates, Fees & Info
MANHATTAN BEACH, CALEI: 549300XR0EY1M0FVG232
Tax ID: 20-3655285
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Mortgage Bank Of California is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Mortgage Bank Of California has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Los Angeles, Miami, Phoenix, Key West, and Naples among others. Mortgage Bank Of California has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Mortgage Bank Of California is typically a high fee lendor.Originations
351Origination Dollar Volume (All Markets)
$375,175,000Relative Rate
Mortgage Bank Of California's average 30 year fixed rate mortgage of loans were
4.94%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 1.79%.
Relative Fees
Mortgage Bank Of California's average total fees for a 30 year fixed rate
mortgage are $25,309.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 48 | $65,210,000 | $1,358,542 | $32,426 | 4.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 45 | $47,845,000 | $1,063,222 | $24,078 | 4.63% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 17 | $20,435,000 | $1,202,059 | $28,998 | 5.04% |
| Key West, FL (FHA|USDA|VA) | 11 | $19,475,000 | $1,770,455 | $31,901 | 4.64% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 8 | $12,300,000 | $1,537,500 | $31,429 | 4.94% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 13 | $8,905,000 | $685,000 | $20,958 | 4.82% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 8 | $8,570,000 | $1,071,250 | $21,708 | 5.16% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $7,520,000 | $1,880,000 | $41,131 | 5.16% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $7,355,000 | $1,471,000 | $45,093 | 5.18% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $7,310,000 | $1,218,333 | $29,364 | 4.79% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 5 | $7,035,000 | $1,407,000 | $40,578 | 4.85% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 4 | $6,980,000 | $1,745,000 | $43,755 | 4.69% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $6,720,000 | $1,680,000 | $40,087 | 4.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 7 | $6,645,000 | $949,286 | $26,112 | 4.96% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 11 | $6,155,000 | $559,545 | $24,219 | 5.19% |
| Heber, UT (FHA|USDA|VA) | 4 | $5,960,000 | $1,490,000 | $29,309 | 5.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $5,735,000 | $819,286 | $22,254 | 5.14% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $5,700,000 | $1,425,000 | $35,564 | 4.69% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 6 | $5,220,000 | $870,000 | $22,005 | 5.21% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $5,195,000 | $742,143 | $19,656 | 4.84% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $4,910,000 | $1,227,500 | $30,031 | 5.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $4,545,000 | $1,515,000 | $27,187 | 4.92% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $4,350,000 | $725,000 | $25,002 | 4.77% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $4,160,000 | $1,040,000 | $29,308 | 4.91% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $4,040,000 | $2,020,000 | $32,124 | 4.81% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $3,850,000 | $1,925,000 | $58,845 | 5.19% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 3 | $3,845,000 | $1,281,667 | $24,871 | 4.79% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $3,780,000 | $1,890,000 | $62,459 | 4.81% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $3,505,000 | $3,505,000 | $47,094 | 4.25% |
| Outside of Metro Areas | 6 | $3,260,000 | $543,333 | $15,742 | 4.94% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $3,240,000 | $1,620,000 | $35,673 | 4.81% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $73,409 | 4.63% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $2,855,000 | $951,667 | $20,737 | 5.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $2,665,000 | $888,333 | $35,401 | 4.71% |
| Outside of Metro Areas | 3 | $2,525,000 | $841,667 | $23,306 | 4.71% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $2,440,000 | $1,220,000 | $33,795 | 5.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $2,410,000 | $1,205,000 | $29,314 | 4.81% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $2,290,000 | $572,500 | $14,572 | 4.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $2,130,000 | $1,065,000 | $25,228 | 5.19% |
| Hilo, HI (FHA|USDA|VA) | 3 | $1,965,000 | $655,000 | $20,707 | 4.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $1,890,000 | $945,000 | $24,954 | 5.69% |
| PROVO-OREM, UT (FHA|USDA|VA) | 3 | $1,795,000 | $598,333 | $17,652 | 5.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,785,000 | $595,000 | $20,235 | 5.04% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $1,745,000 | $581,667 | $17,832 | 4.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,670,000 | $835,000 | $24,252 | 5.69% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 2 | $1,600,000 | $800,000 | $35,429 | 4.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $42,984 | 4.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $1,395,000 | $465,000 | $15,100 | 4.25% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $15,747 | 5.31% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $1,265,000 | $1,265,000 | $34,214 | 6.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $1,195,000 | $1,195,000 | $17,919 | 5.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $19,877 | 5.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $25,399 | 4.00% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $1,100,000 | $550,000 | $0 | 4.75% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $1,095,000 | $1,095,000 | $30,104 | 5.00% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $28,734 | 5.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $0 | 5.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $14,511 | 5.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $27,842 | 5.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $0 | 5.38% |
| BELLINGHAM, WA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $13,492 | 5.25% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $21,499 | 4.50% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 4.50% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $21,774 | 4.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $12,578 | 5.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 5.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 5.00% |
| Torrington, CT (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $6,494 | 5.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $12,921 | 4.31% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $0 | 4.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $17,595 | 4.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $12,561 | 5.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $18,849 | 5.50% |
| TYLER, TX (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $14,445 | 5.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $17,323 | 5.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $23,175 | 5.88% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $11,163 | 4.75% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 5.00% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $15,639 | 5.13% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $14,644 | 5.00% |
| Danville, VA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $16,968 | 5.88% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $13,604 | 4.50% |
| BEND, OR (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 4.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $12,879 | 5.25% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $12,914 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $13,719 | 5.50% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 5.25% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,074 | 5.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.50% |
Mortgage Bank Of California's top markets include Los Angeles, Miami, Phoenix, Key West, and Naples among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 350 | $374,860,000 | $1,071,029 | $26,887 | 4.90% |
| USDA | 1 | $315,000 | $315,000 | $0 | 5.25% |
For the 2021 period, Mortgage Bank Of California's most frequently originated loan type of loans were Conventional, with 350 originations. Their 2nd most popular type is USDA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 202 | $217,320,000 | $1,075,842 | $27,070 | 4.92% |
| Cash Out Refi | 111 | $113,965,000 | $1,026,712 | $26,825 | 4.96% |
| Refi | 38 | $43,890,000 | $1,155,000 | $26,182 | 4.61% |
For the 2021, Mortgage Bank Of California's most frequently cited loan purpose of loans were Home Purchase, with 202 originations. The 2nd most popular reason of loans were Cash Out Refi, with 111 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 203 | $201,055,000 | $990,419 | $25,309 | 4.94% |
| 30+ year | 146 | $172,750,000 | $1,183,219 | $30,373 | 4.85% |
| 15 Year | 2 | $1,370,000 | $685,000 | $17,601 | 4.44% |
For the 2021, Mortgage Bank Of California's most frequently cited loan length of loans were 30 Year, with 203 originations. The 2nd most popular length of loans were 30+ year, with 146 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 252 | $288,690,000 | $1,145,595 |
| $<1k | 5 | $3,365,000 | $673,000 |
| $3k-4k | 3 | $885,000 | $295,000 |
| $1k-2k | 2 | $2,410,000 | $1,205,000 |
$25,309 of loans were Mortgage Bank Of California's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 252 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 192 | $232,040,000 | $1,208,542 |
| 5-6% | 127 | $113,615,000 | $894,606 |
| 3-4% | 24 | $22,330,000 | $930,417 |
| 2.5-3% | 5 | $3,185,000 | $637,000 |
| 6-7% | 3 | $4,005,000 | $1,335,000 |
During 2021, Mortgage Bank Of California's average interest rate of loans were 4.94%, while their most frequently originated rate bucket of loans were 4-5%, with 192 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 136 | $251,310,000 | $1,847,868 | $40,320 | 4.86% |
| $600k-1MM | 98 | $75,480,000 | $770,204 | $20,726 | 4.83% |
| $400k-600k | 61 | $30,465,000 | $499,426 | $15,350 | 5.02% |
| $200k-400k | 54 | $17,570,000 | $325,370 | $12,113 | 5.01% |
| $100k-200k | 2 | $350,000 | $175,000 | $4,418 | 4.69% |
2021 saw Mortgage Bank Of California place emphasis on $1MM+ loans with 136 originations, totaling $251,310,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 219 | $273,095,000 | $1,247,009 | $30,282 | 4.93% |
| $150k-250k | 39 | $26,495,000 | $679,359 | $19,650 | 4.97% |
| $100k-150k | 21 | $10,415,000 | $495,952 | $12,976 | 4.66% |
| $75k-100k | 9 | $4,025,000 | $447,222 | $13,188 | 4.92% |
| $50k-75k | 3 | $935,000 | $311,667 | $10,946 | 4.50% |
| $50k or less | 1 | $675,000 | $675,000 | $0 | 4.75% |
Mortgage Bank Of California lent most frequently to those with incomes in the $250k+ range, with 219 originations. The second most popular income band? $150k-250k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 58 | $58,970,000 | $1,016,724 | $26,060 | 5.09% |
| <20% | 48 | $45,620,000 | $950,417 | $23,670 | 4.88% |
| 30-36% | 28 | $37,670,000 | $1,345,357 | $32,293 | 4.82% |
| 36% | 13 | $14,535,000 | $1,118,077 | $26,115 | 4.75% |
| 48% | 12 | $18,720,000 | $1,560,000 | $36,355 | 4.76% |
| 41% | 12 | $12,940,000 | $1,078,333 | $25,289 | 4.81% |
| 44% | 12 | $12,610,000 | $1,050,833 | $23,117 | 4.64% |
| 43% | 11 | $11,425,000 | $1,038,636 | $24,397 | 4.89% |
| 40% | 10 | $14,060,000 | $1,406,000 | $27,943 | 4.79% |
| 47% | 9 | $8,605,000 | $956,111 | $22,738 | 4.86% |
| 46% | 8 | $6,710,000 | $838,750 | $22,710 | 4.86% |
| 45% | 7 | $7,305,000 | $1,043,571 | $27,483 | 5.30% |
| 42% | 6 | $9,460,000 | $1,576,667 | $37,636 | 5.42% |
| 39% | 5 | $4,975,000 | $995,000 | $21,506 | 4.78% |
| 38% | 5 | $8,115,000 | $1,623,000 | $43,673 | 4.98% |
| 37% | 5 | $3,915,000 | $783,000 | $21,351 | 5.08% |
| 50-60% | 5 | $5,235,000 | $1,047,000 | $28,653 | 4.45% |
| 49% | 1 | $3,485,000 | $3,485,000 | $55,569 | 4.88% |
| >60% | 1 | $3,005,000 | $3,005,000 | $94,880 | 5.25% |
Mortgage Bank Of California lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? <20%, with 48 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 240 | $274,270,000 | $1,142,792 | $27,823 | 4.89% |
| Not provided | 68 | $58,180,000 | $855,588 | $22,805 | 4.91% |
| Asian | 16 | $20,070,000 | $1,254,375 | $38,625 | 5.03% |
| Black | 18 | $13,750,000 | $763,889 | $21,295 | 4.76% |
| Native Hawaiian | 4 | $4,930,000 | $1,232,500 | $26,081 | 4.84% |
| American Indian | 2 | $1,390,000 | $695,000 | $21,642 | 5.75% |
| Korean | 1 | $1,325,000 | $1,325,000 | $33,590 | 5.00% |
| Other Pacific Islander | 1 | $875,000 | $875,000 | $18,254 | 4.75% |
| Other Asian | 1 | $385,000 | $385,000 | $14,916 | 5.50% |
Approval Rates
Total approvals of all applications96.17%
Mortgage Bank Of California has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination69.78%
Mortgage Bank Of California 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 |
|---|---|---|---|
| 250.0 | 1 | $3,455,000 | $3,455,000 |
| NA | 350 | $371,720,000 | $1,062,057 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 351 | $375,175,000 | $1,068,875 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 9 | $8,285,000 | $920,556 | $26,045 | 4.56% |
| 40-60% | 54 | $62,060,000 | $1,149,259 | $27,575 | 4.79% |
| 60-80% | 202 | $208,910,000 | $1,034,208 | $26,795 | 4.95% |
| 80-100% | 71 | $83,745,000 | $1,179,507 | $27,627 | 4.92% |
| Over 100% | 2 | $1,960,000 | $980,000 | $27,124 | 4.63% |
| Under 20% | 8 | $6,580,000 | $822,500 | $21,113 | 4.92% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE SOLUTIONS OF COLORADO | VA mortgage | Trouble during payment process | 3 | 42.9% |
| MORTGAGE SOLUTIONS OF COLORADO | Conventional home mortgage | Closing on a mortgage | 1 | 14.3% |
| MORTGAGE SOLUTIONS OF COLORADO | FHA mortgage | Trouble during payment process | 3 | 42.9% |
