Merchants Mortgage & Trust Corporation Rates, Fees & Info
Greenwood Village, COLEI: 549300YX5RPSSMR88K92
Tax ID: 84-1296387
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Mortgage Data
Review & Overview
Merchants Mortgage & Trust Corporation is a smaller mortgage company specializing in Home Purchase loans. Merchants Mortgage & Trust Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Los Angeles, Denver, Seattle, and San Francisco among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Merchants Mortgage & Trust Corporation 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.
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 | 6.27% | 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. | ||
Merchants Mortgage & Trust Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
262Origination Dollar Volume (All Markets)
$97,270,000Top 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 103 | $27,835,000 | $270,243 | $0 | 12.91% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 31 | $23,265,000 | $750,484 | $0 | 11.19% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 52 | $19,840,000 | $381,538 | $0 | 10.09% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 15 | $7,665,000 | $511,000 | $0 | 10.07% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 10 | $5,650,000 | $565,000 | $0 | 12.20% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 12 | $5,130,000 | $427,500 | $0 | 10.06% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 13 | $2,775,000 | $213,462 | $0 | 12.02% |
| BOULDER, CO (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $0 | 10.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $0 | 10.07% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $0 | 14.00% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 14.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 10.38% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 10.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 10.50% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 10.38% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 10.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 11.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.00% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 13.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 10.00% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 10.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 262 | $97,270,000 | $371,260 | $0 | 11.61% |
For 2018, Merchants Mortgage & Trust Corporation's most frequently originated type of loan was Conventional, with 262 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 258 | $95,230,000 | $369,109 | $0 | 11.61% |
| Refi | 4 | $2,040,000 | $510,000 | $0 | 11.60% |
For 2018, Merchants Mortgage & Trust Corporation's most frequently cited loan purpose was Home Purchase, with 258 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 153 | $63,835,000 | $417,222 | $0 | 10.87% |
| Other | 109 | $33,435,000 | $306,743 | $0 | 12.65% |
For 2018, Merchants Mortgage & Trust Corporation's most frequently cited loan duration was 1 Year, with 153 originations. The 2nd most popular length was Other, with 109 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 260 | $96,960,000 | $372,923 |
| 7-8% | 2 | $310,000 | $155,000 |
During 2018, Merchants Mortgage & Trust Corporation's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 260 originations.
Loan Sizing
2018 saw Merchants Mortgage & Trust Corporation place emphasis on $200k-400k loans with 104 originations, totaling $28,830,000 in origination value.
Applicant Income
Merchants Mortgage & Trust Corporation lent most frequently to those with incomes in the $150k-250k range, with 51 originations. The second most popular income band? $250k+, with 38 originations.
Applicant Debt to Income Ratio
Merchants Mortgage & Trust Corporation lent most frequently to those with DTI ratios of <20%, with 142 originations. The next most common DTI ratio? 46%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.63%
Merchants Mortgage & Trust Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.47%
Merchants Mortgage & Trust Corporation has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7937.0 | 1 | $345,000 | $345,000 |
| NA | 261 | $96,925,000 | $371,360 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 262 | $97,270,000 | $371,260 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| MORGAN STANLEY & CO. LLC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 33.3% |
| MORGAN STANLEY & CO. LLC | Other type of mortgage | Closing on a mortgage | 1 | 33.3% |