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: Los Angeles, Denver, Phoenix, Portland, and San Francisco among others. We have data for 25 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% | 4/28/24 |
| 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. | ||
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
279Origination Dollar Volume (All Markets)
$101,995,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 45 | $33,255,000 | $739,000 | $0 | 11.53% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 42 | $17,890,000 | $425,952 | $0 | 9.91% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 69 | $14,965,000 | $216,884 | $0 | 12.90% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 29 | $12,865,000 | $443,621 | $0 | 10.15% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 10 | $4,050,000 | $405,000 | $0 | 11.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 12 | $3,690,000 | $307,500 | $0 | 11.08% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $3,085,000 | $440,714 | $0 | 9.71% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 13 | $3,075,000 | $236,538 | $0 | 10.04% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 18 | $2,510,000 | $139,444 | $0 | 10.74% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $1,710,000 | $285,000 | $0 | 11.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $935,000 | $187,000 | $0 | 10.00% |
| PUEBLO, CO (FHA|USDA|VA) | 7 | $805,000 | $115,000 | $0 | 9.11% |
| BEND, OR (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $0 | 10.00% |
| SALEM, OR (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 10.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 10.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 10.00% |
| Outside of Metro Areas | 2 | $300,000 | $150,000 | $0 | 10.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 10.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 10.50% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 10.00% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 10.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 10.00% |
| Ottawa, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 10.50% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 10.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 279 | $101,995,000 | $365,573 | $0 | 11.10% |
For 2019, Merchants Mortgage & Trust Corporation's most frequently originated type of loan was Conventional, with 279 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 252 | $90,540,000 | $359,286 | $0 | 11.13% |
| Refi | 27 | $11,455,000 | $424,259 | $0 | 10.81% |
For 2019, Merchants Mortgage & Trust Corporation's most frequently cited loan purpose was Home Purchase, with 252 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 151 | $52,355,000 | $346,722 | $0 | 10.37% |
| Other | 128 | $49,640,000 | $387,813 | $0 | 11.95% |
For 2019, Merchants Mortgage & Trust Corporation's most frequently cited loan duration was 1 Year, with 151 originations. The 2nd most popular length was Other, with 128 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 279 | $101,995,000 | $365,573 |
During 2019, 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 279 originations.
Loan Sizing
2019 saw Merchants Mortgage & Trust Corporation place emphasis on $200k-400k loans with 102 originations, totaling $28,430,000 in origination value.
Applicant Income
Merchants Mortgage & Trust Corporation lent most frequently to those with incomes in the $250k+ range, with 60 originations. The second most popular income band? $150k-250k, with 32 originations.
Applicant Debt to Income Ratio
Merchants Mortgage & Trust Corporation lent most frequently to those with DTI ratios of <20%, with 167 originations. The next most common DTI ratio? 20-30%, with 24 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination96.06%
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 |
|---|---|---|---|
| 1912.5 | 1 | $55,000 | $55,000 |
| NA | 278 | $101,940,000 | $366,691 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 279 | $101,995,000 | $365,573 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Closing on a mortgage | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Incorrect information on your report | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 25.0% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Trouble during payment process | 6 | 50.0% |
| MORGAN STANLEY & CO. LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 8.3% |