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 a low ratio of USDA loans. Their top markets by origination volume include: Los Angeles, Miami, Phoenix, Key West, and Naples among others. We have data for 89 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 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 | 9.09% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 8.68% | 11/21/24 |
| 15 Year Conventional Purchase | 10.11% | 11/21/24 |
| 15 Year Conventional Refi | 8.86% | 11/21/24 |
| 15 Year Cash-out Refi | 8.86% | 11/21/24 |
| 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
351Origination Dollar Volume (All Markets)
$375,175,000Top 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) | 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% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 350 | $374,860,000 | $1,071,029 | $26,887 | 4.90% |
| USDA | 1 | $315,000 | $315,000 | $0 | 5.25% |
For 2021, Mortgage Bank Of California's most frequently originated type of loan was Conventional, with 350 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2021, Mortgage Bank Of California's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Cash Out Refi, with 111 originations.
Loan Duration/Length
For 2021, Mortgage Bank Of California's most frequently cited loan duration was 30 Year, with 203 originations. The 2nd most popular length was 30+ year, with 146 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 252 | $288,690,000 | $1,145,595 |
| $<1k | 5 | $3,365,000 | $673,000 |
| $4k-5k | 3 | $885,000 | $295,000 |
| $1k-2k | 2 | $2,410,000 | $1,205,000 |
Mortgage Bank Of California's average total fees were $25,309, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 192 originations.
Loan Sizing
2021 saw Mortgage Bank Of California place emphasis on $1MM+ loans with 136 originations, totaling $251,310,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.72%
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 origination68.95%
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 |
LTV Distribution
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% |