Mms Mortgage Services Ltd. Rates, Fees & Info
FARMINGTON HILLS, MILEI: 549300YEC4OVVYQB2849
Tax ID: 38-2718800
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Mms Mortgage Services Ltd. is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Mms Mortgage Services Ltd. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Grand Rapids, Detroit, Muskegon, Boston, and Ann Arbor among others. Mms Mortgage Services Ltd. 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. Mms Mortgage Services Ltd. is typically a low fee lendor.Originations
695Origination Dollar Volume (All Markets)
$120,065,000Awards
MMS MORTGAGE SERVICES LTD. - 2021
MMS MORTGAGE SERVICES LTD. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Mms Mortgage Services Ltd.'s average 30 year fixed rate mortgage of loans were
3.28%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.13%.
Relative Fees
Mms Mortgage Services Ltd.'s average total fees for a 30 year fixed rate
mortgage are $3,186.
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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 271 | $46,045,000 | $169,908 | $3,034 | 3.24% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 121 | $21,185,000 | $175,083 | $3,076 | 3.02% |
| MUSKEGON, MI (FHA|USDA|VA) | 40 | $6,300,000 | $157,500 | $3,356 | 3.21% |
| Outside of Metro Areas | 35 | $6,165,000 | $176,143 | $3,009 | 3.17% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 21 | $5,875,000 | $279,762 | $2,848 | 2.95% |
| ANN ARBOR, MI (FHA|USDA|VA) | 18 | $3,830,000 | $212,778 | $2,997 | 3.03% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 18 | $2,620,000 | $145,556 | $2,927 | 3.18% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 13 | $2,375,000 | $182,692 | $3,744 | 2.98% |
| Holland, MI (FHA|USDA|VA) | 10 | $1,830,000 | $183,000 | $3,546 | 3.10% |
| Ashtabula, OH (FHA|USDA|VA) | 15 | $1,705,000 | $113,667 | $3,187 | 2.93% |
| Alma, MI (FHA|USDA|VA) | 14 | $1,600,000 | $114,286 | $2,699 | 3.41% |
| MONROE, MI (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $3,734 | 3.31% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 9 | $1,155,000 | $128,333 | $2,887 | 2.99% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 7 | $1,115,000 | $159,286 | $2,268 | 2.88% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $2,415 | 2.63% |
| Big Rapids, MI (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $2,944 | 3.08% |
| TOLEDO, OH (FHA|USDA|VA) | 6 | $930,000 | $155,000 | $3,386 | 3.50% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $3,276 | 3.29% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $2,551 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $2,788 | 2.96% |
| Sandusky, OH (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $2,720 | 3.05% |
| Key West, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,286 | 3.38% |
| Traverse City, MI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,559 | 3.00% |
| Madisonville, KY (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,951 | 3.08% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,315 | 2.81% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,867 | 2.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,094 | 3.04% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,605 | 2.94% |
| AMES, IA (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $2,211 | 2.56% |
| AKRON, OH (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,678 | 3.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,713 | 3.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,311 | 3.50% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,146 | 3.25% |
| READING, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,932 | 2.56% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,230 | 2.25% |
| Alpena, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,932 | 2.50% |
| Pottsville, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,115 | 2.81% |
| FLINT, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,102 | 3.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,097 | 2.63% |
| Adrian, MI (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $2,024 | 2.71% |
| MANSFIELD, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,727 | 3.13% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,260 | 3.25% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,337 | 3.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,756 | 2.94% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,613 | 2.81% |
| Central City, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,419 | 3.50% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,775 | 2.25% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,723 | 2.88% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,660 | 2.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,314 | 3.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,621 | 2.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,803 | 2.75% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,571 | 3.00% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,133 | 2.63% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,812 | 3.75% |
| Natchez, MS-LA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,124 | 2.63% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,620 | 3.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,202 | 2.25% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,558 | 3.13% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,738 | 2.75% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,448 | 2.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,253 | 2.63% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,810 | 2.63% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,200 | 4.50% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,776 | 2.88% |
Mms Mortgage Services Ltd.'s top markets include Grand Rapids, Detroit, Muskegon, Boston, and Ann Arbor among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 623 | $107,625,000 | $172,753 | $2,864 | 3.11% |
| FHA | 49 | $8,595,000 | $175,408 | $5,320 | 3.23% |
| USDA | 17 | $2,265,000 | $133,235 | $2,084 | 3.72% |
| VA | 6 | $1,580,000 | $263,333 | $8,125 | 3.00% |
For the 2021 period, Mms Mortgage Services Ltd.'s most frequently originated loan type of loans were Conventional, with 623 originations. Their 2nd most popular type is FHA, with 49 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 281 | $44,655,000 | $158,915 | $2,772 | 2.88% |
| Home Purchase | 209 | $38,645,000 | $184,904 | $3,342 | 3.33% |
| Cash Out Refi | 204 | $36,260,000 | $177,745 | $3,146 | 3.27% |
| Other | 1 | $505,000 | $505,000 | $9,983 | 2.88% |
For the 2021, Mms Mortgage Services Ltd.'s most frequently cited loan purpose of loans were Refi, with 281 originations. The 2nd most popular reason of loans were Home Purchase, with 209 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 487 | $85,055,000 | $174,651 | $3,186 | 3.28% |
| 15 Year | 125 | $19,815,000 | $158,520 | $2,730 | 2.66% |
| 20 Year | 63 | $11,815,000 | $187,540 | $2,893 | 3.07% |
| 10 Year | 17 | $2,325,000 | $136,765 | $2,256 | 2.46% |
| Other | 2 | $550,000 | $275,000 | $2,907 | 3.44% |
| 30+ year | 1 | $505,000 | $505,000 | $9,983 | 2.88% |
For the 2021, Mms Mortgage Services Ltd.'s most frequently cited loan length of loans were 30 Year, with 487 originations. The 2nd most popular length of loans were 15 Year, with 125 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 585 | $98,525,000 | $168,419 |
| $<1k | 48 | $7,090,000 | $147,708 |
| $2k-3k | 29 | $6,995,000 | $241,207 |
| $3k-4k | 25 | $5,235,000 | $209,400 |
| $5k+ | 8 | $2,220,000 | $277,500 |
$3,186 of loans were Mms Mortgage Services Ltd.'s average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 585 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 335 | $58,205,000 | $173,746 |
| 2.5-3% | 269 | $46,685,000 | $173,550 |
| <2.5% | 64 | $11,400,000 | $178,125 |
| 4-5% | 27 | $3,775,000 | $139,815 |
During 2021, Mms Mortgage Services Ltd.'s average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 335 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 376 | $53,660,000 | $142,713 | $2,872 | 3.16% |
| $200k-400k | 185 | $48,705,000 | $263,270 | $3,686 | 3.10% |
| $100,000 or less | 115 | $9,015,000 | $78,391 | $2,485 | 3.10% |
| $400k-600k | 19 | $8,685,000 | $457,105 | $4,292 | 3.07% |
2021 saw Mms Mortgage Services Ltd. place emphasis on $100k-200k loans with 376 originations, totaling $53,660,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 212 | $24,720,000 | $116,604 | $2,761 | 3.19% |
| $50k-75k | 190 | $30,420,000 | $160,105 | $3,111 | 3.17% |
| $75k-100k | 130 | $24,390,000 | $187,615 | $2,931 | 3.08% |
| $100k-150k | 108 | $25,010,000 | $231,574 | $3,439 | 3.05% |
| $150k-250k | 48 | $12,490,000 | $260,208 | $3,596 | 3.04% |
| $250k+ | 7 | $3,035,000 | $433,571 | $3,965 | 3.04% |
Mms Mortgage Services Ltd. lent most frequently to those with incomes in the $50k or less range, with 212 originations. The second most popular income band? $50k-75k, with 190 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 180 | $29,760,000 | $165,333 | $3,016 | 3.11% |
| 30-36% | 143 | $24,065,000 | $168,287 | $3,044 | 3.17% |
| <20% | 55 | $8,775,000 | $159,545 | $2,535 | 2.97% |
| 44% | 43 | $8,395,000 | $195,233 | $3,553 | 3.25% |
| 41% | 30 | $5,170,000 | $172,333 | $3,162 | 3.15% |
| 45% | 30 | $6,090,000 | $203,000 | $2,981 | 3.09% |
| 42% | 28 | $4,870,000 | $173,929 | $2,878 | 3.32% |
| 37% | 27 | $5,005,000 | $185,370 | $3,053 | 3.13% |
| 39% | 26 | $4,920,000 | $189,231 | $3,339 | 3.15% |
| 43% | 26 | $4,250,000 | $163,462 | $3,334 | 3.26% |
| 38% | 23 | $4,115,000 | $178,913 | $2,894 | 3.08% |
| 40% | 21 | $3,555,000 | $169,286 | $2,913 | 3.05% |
| 36% | 19 | $3,525,000 | $185,526 | $3,130 | 3.09% |
| 49% | 12 | $2,130,000 | $177,500 | $3,244 | 2.99% |
| 46% | 10 | $1,670,000 | $167,000 | $3,576 | 3.01% |
| 48% | 9 | $1,475,000 | $163,889 | $2,976 | 3.04% |
| 47% | 8 | $1,430,000 | $178,750 | $3,207 | 3.03% |
| 50-60% | 4 | $730,000 | $182,500 | $4,820 | 3.44% |
Mms Mortgage Services Ltd. lent most frequently to those with DTI ratios of 20-30%, with 180 originations. The next most common DTI ratio? 30-36%, with 143 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 654 | $113,290,000 | $173,226 | $3,055 | 3.12% |
| Black | 26 | $4,280,000 | $164,615 | $3,281 | 3.20% |
| Not provided | 11 | $1,925,000 | $175,000 | $3,192 | 3.26% |
| American Indian | 2 | $340,000 | $170,000 | $3,210 | 3.19% |
| Asian | 2 | $230,000 | $115,000 | $2,395 | 3.31% |
Approval Rates
Total approvals of all applications93.71%
Mms Mortgage Services Ltd. has an average approval rate.
Pick Rate
Approvals leading to origination85.60%
Mms Mortgage Services Ltd. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 695 | $120,065,000 | $172,755 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 695 | $120,065,000 | $172,755 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 50 | $6,410,000 | $128,200 | $2,685 | 2.82% |
| 40-60% | 180 | $27,460,000 | $152,556 | $2,580 | 2.97% |
| 60-80% | 243 | $45,225,000 | $186,111 | $3,096 | 3.16% |
| 80-100% | 219 | $40,465,000 | $184,772 | $3,497 | 3.31% |
| Over 100% | 2 | $450,000 | $225,000 | $5,081 | 2.99% |
| Under 20% | 1 | $55,000 | $55,000 | $2,341 | 2.50% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MCCUE MORTGAGE COMPANY, THE | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
