Mms Mortgage Services Ltd. Rates, Fees & Info
FARMINGTON HILLS, MILEI: 549300YEC4OVVYQB2849
Tax ID: 38-2718800
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Mortgage Data
Review & 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 by origination volume include: Grand Rapids, Detroit, Muskegon, Boston, and Ann Arbor among others. We have data for 65 markets. (Some data included below & more in-depth data is available with an active subscription.)Mms Mortgage Services Ltd. 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. Mms Mortgage Services Ltd. is typically a low 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 | 6.95% | 4/21/24 |
| 30 Year Conventional Refi | 6.80% | 4/21/24 |
| 30 Year Cash-out Refi | 6.84% | 4/21/24 |
| 30 Year FHA Purchase | 7.40% | 4/21/24 |
| 30 Year FHA Refi | 7.65% | 4/21/24 |
| 30 Year VA Purchase | 6.32% | 4/21/24 |
| 30 Year USDA Purchase | 7.01% | 4/21/24 |
| 15 Year Conventional Purchase | 6.11% | 4/21/24 |
| 15 Year Conventional Refi | 6.15% | 4/21/24 |
| 15 Year Cash-out Refi | 6.15% | 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. | ||
Mms Mortgage Services Ltd. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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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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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against MMS MORTGAGE SERVICES LTD. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2021, Mms Mortgage Services Ltd.'s most frequently originated type of loan was Conventional, with 623 originations. Their 2nd most popular type was FHA, with 49 originations.
Loan Reason
For 2021, Mms Mortgage Services Ltd.'s most frequently cited loan purpose was Refi, with 281 originations. The 2nd most popular reason was Home Purchase, with 209 originations.
Loan Duration/Length
For 2021, Mms Mortgage Services Ltd.'s most frequently cited loan duration was 30 Year, with 487 originations. The 2nd most popular length was 15 Year, with 125 originations.
Origination Fees/Closing Costs
Mms Mortgage Services Ltd.'s average total fees were $3,186, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 335 originations.
Loan Sizing
2021 saw Mms Mortgage Services Ltd. place emphasis on $100k-200k loans with 376 originations, totaling $53,660,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.62%
Mms Mortgage Services Ltd. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.74%
Mms Mortgage Services Ltd. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 695 | $120,065,000 | $172,755 |
LTV Distribution
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% |