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. They have an average proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Miami, Houston, Las Vegas, and Washington among others. We have data for 40 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 a below 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 8.68% | 4/21/24 |
| 15 Year Conventional Purchase | 10.11% | 4/21/24 |
| 15 Year Conventional Refi | 8.86% | 4/21/24 |
| 15 Year Cash-out Refi | 8.86% | 4/21/24 |
| 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. | ||
Mortgage Bank Of California Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
205Origination Dollar Volume (All Markets)
$117,505,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 30 | $31,650,000 | $1,055,000 | $20,187 | 5.58% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 45 | $22,775,000 | $506,111 | $12,994 | 6.12% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 15 | $6,715,000 | $447,667 | $12,824 | 7.19% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 16 | $6,100,000 | $381,250 | $7,377 | 5.83% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 10 | $5,500,000 | $550,000 | $12,490 | 8.10% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 14 | $4,210,000 | $300,714 | $10,858 | 5.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 6 | $4,090,000 | $681,667 | $17,765 | 6.68% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $3,775,000 | $539,286 | $13,668 | 6.34% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 8 | $3,710,000 | $463,750 | $7,820 | 7.77% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $3,350,000 | $1,675,000 | $30,357 | 7.12% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $2,905,000 | $2,905,000 | $59,362 | 5.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $2,645,000 | $377,857 | $8,876 | 6.97% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,485,000 | $2,485,000 | $37,957 | 6.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,480,000 | $413,333 | $12,018 | 7.08% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $1,850,000 | $925,000 | $8,297 | 7.94% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,565,000 | $521,667 | $10,972 | 8.31% |
| Outside of Metro Areas | 4 | $1,200,000 | $300,000 | $9,118 | 6.84% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $1,170,000 | $585,000 | $19,787 | 6.38% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $23,177 | 6.99% |
| RENO, NV (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $12,149 | 7.06% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $11,795 | 7.25% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $19,376 | 7.13% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $14,687 | 5.13% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $7,801 | 7.17% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $19,308 | 6.99% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $9,014 | 7.63% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,477 | 4.63% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,738 | 7.40% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $15,265 | 8.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $8,085 | 5.50% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,870 | 6.99% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,903 | 5.99% |
| MERCED, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,275 | 7.50% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,604 | 9.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,132 | 7.99% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,376 | 4.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,059 | 7.99% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,439 | 7.80% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,540 | 6.99% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,468 | 4.88% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 171 | $107,275,000 | $627,339 | $13,769 | 6.79% |
| FHA | 32 | $9,540,000 | $298,125 | $10,607 | 4.96% |
| VA | 2 | $690,000 | $345,000 | $12,266 | 4.56% |
For 2018, Mortgage Bank Of California's most frequently originated type of loan was Conventional, with 171 originations. Their 2nd most popular type was FHA, with 32 originations.
Loan Reason
For 2018, Mortgage Bank Of California's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.
Loan Duration/Length
For 2018, Mortgage Bank Of California's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Mortgage Bank Of California's average total fees were $13,467, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 112 originations.
Interest Rates
During 2018, Mortgage Bank Of California's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 7-8%, with 55 originations.
Loan Sizing
2018 saw Mortgage Bank Of California place emphasis on $200k-400k loans with 95 originations, totaling $28,115,000 in origination value.
Applicant Income
Mortgage Bank Of California lent most frequently to those with incomes in the $50k or less range, with 53 originations. The second most popular income band? $250k+, with 52 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 50-60% | 3 | $745,000 | $248,333 | $12,457 | 4.63% |
| 46% | 1 | $295,000 | $295,000 | $10,470 | 4.63% |
Mortgage Bank Of California lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 46%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.01%
Mortgage Bank Of California has an average approval rate.
Pick Rate
Approvals leading to origination71.22%
Mortgage Bank Of California has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 205 | $117,505,000 | $573,195 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 205 | $117,505,000 | $573,195 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE SOLUTIONS OF COLORADO | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| MORTGAGE SOLUTIONS OF COLORADO | VA mortgage | Closing on a mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | FHA mortgage | Struggling to pay mortgage | 1 | 16.7% |
| MORTGAGE SOLUTIONS OF COLORADO | FHA mortgage | Closing on a mortgage | 1 | 16.7% |