Mortgage Bank Of California Rates, Fees & Info
MANHATTAN BEACH, CALEI: 549300XR0EY1M0FVG232
Tax ID: 20-3655285
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Mortgage Data
Review & 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. Their top markets by origination volume include: Miami, Los Angeles, Crestview, Phoenix, and Dallas among others. We have data for 68 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Bank Of California 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. Mortgage Bank Of California is typically a high 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 relatively high 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 | 9.09% | 3/31/23 |
| 30 Year Conventional Refi | 6.27% | 3/31/23 |
| 30 Year Cash-out Refi | 8.68% | 3/31/23 |
| 15 Year Conventional Purchase | 10.11% | 3/31/23 |
| 15 Year Conventional Refi | 8.86% | 3/31/23 |
| 15 Year Cash-out Refi | 8.86% | 3/31/23 |
| 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. | ||
Originations
203Origination Dollar Volume (All Markets)
$197,335,000Relative Rate
Mortgage Bank Of California's average 30 year fixed mortgage rate was
7.97%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 3.21%.
Relative Fees (Closing Costs)
Mortgage Bank Of California's average total fees/closing costs for a 30 year fixed rate
mortgage were $28,253.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 26 | $28,380,000 | $1,091,538 | $26,231 | 6.61% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 14 | $19,390,000 | $1,385,000 | $33,891 | 6.79% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 12 | $15,040,000 | $1,253,333 | $36,668 | 7.67% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 13 | $10,785,000 | $829,615 | $23,374 | 6.45% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $8,045,000 | $1,609,000 | $43,404 | 7.72% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $7,255,000 | $2,418,333 | $70,417 | 6.92% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $6,095,000 | $1,219,000 | $31,248 | 7.28% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $5,170,000 | $861,667 | $24,956 | 6.98% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $4,660,000 | $2,330,000 | $59,020 | 8.06% |
| Glenwood Springs, CO (FHA|USDA|VA) | 2 | $4,520,000 | $2,260,000 | $54,943 | 6.56% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 7 | $4,485,000 | $640,714 | $19,699 | 8.02% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $3,715,000 | $1,238,333 | $30,541 | 6.92% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $3,545,000 | $709,000 | $22,748 | 6.58% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $3,285,000 | $1,095,000 | $33,626 | 7.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 4 | $3,280,000 | $820,000 | $22,745 | 8.72% |
| Hilo, HI (FHA|USDA|VA) | 3 | $3,045,000 | $1,015,000 | $31,363 | 6.58% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $2,995,000 | $998,333 | $30,127 | 9.08% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 2 | $2,950,000 | $1,475,000 | $40,867 | 4.63% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 3 | $2,795,000 | $931,667 | $24,707 | 7.08% |
| Sevierville, TN (FHA|USDA|VA) | 3 | $2,735,000 | $911,667 | $29,560 | 5.83% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $2,675,000 | $535,000 | $19,220 | 6.43% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $2,570,000 | $642,500 | $21,359 | 8.16% |
| Key West, FL (FHA|USDA|VA) | 2 | $2,290,000 | $1,145,000 | $33,540 | 6.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,155,000 | $718,333 | $22,758 | 7.04% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $2,060,000 | $1,030,000 | $25,736 | 7.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $1,995,000 | $1,995,000 | $35,635 | 5.38% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,990,000 | $497,500 | $17,396 | 6.50% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,925,000 | $1,925,000 | $36,306 | 7.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $1,875,000 | $1,875,000 | $40,296 | 6.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,810,000 | $452,500 | $16,275 | 6.56% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $1,765,000 | $1,765,000 | $29,354 | 6.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,755,000 | $585,000 | $19,286 | 5.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,750,000 | $437,500 | $16,384 | 6.84% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $42,983 | 4.75% |
| Outside of Metro Areas | 3 | $1,705,000 | $568,333 | $18,606 | 8.21% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $1,555,000 | $1,555,000 | $23,476 | 5.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $15,101 | 8.42% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $34,876 | 8.13% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $37,079 | 7.75% |
| RENO, NV (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $33,936 | 9.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $1,300,000 | $650,000 | $19,565 | 9.25% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $35,969 | 10.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $21,104 | 7.44% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $29,488 | 4.63% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $16,477 | 9.25% |
| Torrington, CT (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $16,302 | 5.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $14,205 | 6.50% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 6.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $24,654 | 4.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $20,679 | 8.50% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $17,115 | 5.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $21,144 | 7.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $20,829 | 8.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $17,363 | 5.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $15,509 | 7.88% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $19,286 | 9.13% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $17,789 | 8.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $17,809 | 6.63% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $15,454 | 5.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $18,240 | 6.50% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $15,742 | 9.25% |
| BEND, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $13,700 | 4.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $12,924 | 4.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $13,499 | 8.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $16,456 | 7.38% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $13,149 | 5.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,184 | 7.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,880 | 9.50% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 203 | $197,335,000 | $972,094 | $26,853 | 7.04% |
For 2022, Mortgage Bank Of California's most frequently originated type of loan was Conventional, with 203 originations.
Loan Reason
For 2022, Mortgage Bank Of California's most frequently cited loan purpose was Home Purchase, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.
Loan Duration/Length
For 2022, Mortgage Bank Of California's most frequently cited loan duration was 30+ year, with 102 originations. The 2nd most popular length was 30 Year, with 98 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 191 | $188,335,000 | $986,047 |
| $1k-2k | 5 | $3,345,000 | $669,000 |
| $<1k | 3 | $3,545,000 | $1,181,667 |
| $4k-5k | 2 | $510,000 | $255,000 |
Mortgage Bank Of California's average total fees were $28,253, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 191 originations.
Interest Rates
During 2022, Mortgage Bank Of California's average interest rate for loans was 7.97%, while their most frequently originated rate bucket for loans was Over 8%, with 60 originations.
Loan Sizing
2022 saw Mortgage Bank Of California place emphasis on $1MM+ loans with 68 originations, totaling $121,320,000 in origination value.
Applicant Income
Mortgage Bank Of California lent most frequently to those with incomes in the $250k+ range, with 109 originations. The second most popular income band? $150k-250k, with 40 originations.
Applicant Debt to Income Ratio
Mortgage Bank Of California lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination94.58%
Mortgage Bank Of California has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 203 | $197,335,000 | $972,094 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Mortgage Research Center, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Mortgage Research Center, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |