Merced School Employees Federal Credit Union Mortgage Rates, Fees & Info
Merced, CALEI: 549300Y37WHI3S8KVE74
Tax ID: 94-1284984
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Mortgage Data
Review & Overview
Merced School Employees Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Merced School Employees Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Merced.Merced School Employees Federal Credit Union 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.
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Originations
149Origination Dollar Volume (All Markets)
$25,315,000Top 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 |
|---|---|---|---|---|---|
| MERCED, CA (FHA|USDA|VA) | 134 | $22,500,000 | $167,910 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $2,815,000 | $187,667 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 149 | $25,315,000 | $169,899 | $0 | 0.00% |
For 2021, Merced School Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 149 originations.
Loan Reason
For 2021, Merced School Employees Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 76 originations. The 2nd most popular reason was Refi, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 149 | $25,315,000 | $169,899 | $0 | 0.00% |
For 2021, Merced School Employees Federal Credit Union's most frequently cited loan duration was Other, with 149 originations.
Loan Sizing
2021 saw Merced School Employees Federal Credit Union place emphasis on $100k-200k loans with 51 originations, totaling $7,405,000 in origination value.
Applicant Income
Merced School Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
Merced School Employees Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.12%
Merced School Employees Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.95%
Merced School Employees Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 149 | $25,315,000 | $169,899 |