Mortgage Bank Of California Rates, Fees & Info

MANHATTAN BEACH, CA

LEI: 549300XR0EY1M0FVG232

Tax ID: 20-3655285

1 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

351

Origination Dollar Volume (All Markets)

$375,175,000

Relative 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 applications
96.17%

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 origination
69.78%

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%