Mortgage Bank Of California Rates, Fees & Info

MANHATTAN BEACH, CA

LEI: 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 9.09% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 8.68% 3/28/24
15 Year Conventional Purchase 10.11% 3/28/24
15 Year Conventional Refi 8.86% 3/28/24
15 Year Cash-out Refi 8.86% 3/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Mortgage Bank Of California. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

351

Origination Dollar Volume (All Markets)

$375,175,000

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
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.

Their top states include:
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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

    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 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

    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 or Islander 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
    98.72%

    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 origination
    68.95%

    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

    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%