Memberfocus Community Mortgage Rates, Fees & Info

Dearborn, MI

LEI: 549300ZX2TCCVHMJN581

Tax ID: 38-0549595

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Memberfocus Community is a smaller mortgage company specializing in Home Improvement loans. Memberfocus Community has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, and Grand Rapids among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Memberfocus Community has an average approval rate when compared to the average across all lenders. They have a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    50

    Origination Dollar Volume (All Markets)

    $2,420,000

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 47 $2,235,000 $47,553 $0 5.95%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.25%
    Outside of Metro Areas 1 $25,000 $25,000 $0 5.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.75%
    Memberfocus Community's top markets include Detroit, Ann Arbor, and Grand Rapids among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MEMBERFOCUS COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Polish-American Federal Credit Union
    Similarity Rank: 32
    Dort Financial Credit Union
    Similarity Rank: 95
    St James Mortgage Corporation
    Similarity Rank: 120
    FreeStar Financial Credit Union
    Similarity Rank: 345
    Extra
    Similarity Rank: 436
    Vibe Credit Union
    Similarity Rank: 448
    Northstar Bank
    Similarity Rank: 582
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 700
    ALLIANCE CATHOLIC CREDIT UNION
    Similarity Rank: 735
    Zeal Credit Union
    Similarity Rank: 819

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $1,045,000 $38,704 $0 6.69%
    HELOC 23 $1,375,000 $59,783 n/a 4.92%

    For 2018, Memberfocus Community's most frequently originated type of loan was Conventional, with 27 originations. Their 2nd most popular type was HELOC, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 50 $2,420,000 $48,400 $0 5.87%

    For 2018, Memberfocus Community's most frequently cited loan purpose was Home Improvement, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 22 $980,000 $44,545 $0 6.05%
    Other 18 $960,000 $53,333 $0 5.18%
    15 Year 8 $430,000 $53,750 $0 6.89%
    5 Year 2 $50,000 $25,000 $0 6.14%

    For 2018, Memberfocus Community's most frequently cited loan duration was 10 Year, with 22 originations. The 2nd most popular length was Other, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 28 $1,110,000 $39,643
    4-5% 16 $770,000 $48,125
    5-6% 6 $540,000 $90,000

    During 2018, Memberfocus Community's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $1,900,000 $41,304 $0 5.95%
    $100k-200k 4 $520,000 $130,000 $0 5.00%

    2018 saw Memberfocus Community place emphasis on $100,000 or less loans with 46 originations, totaling $1,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $715,000 $37,632 $0 6.21%
    $50k-75k 12 $560,000 $46,667 $0 5.76%
    $100k-150k 8 $490,000 $61,250 $0 5.55%
    $75k-100k 8 $480,000 $60,000 $0 5.76%
    $150k-250k 3 $175,000 $58,333 $0 5.38%

    Memberfocus Community lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $690,000 $57,500 $0 6.04%
    <20% 12 $680,000 $56,667 $0 5.82%
    30-36% 7 $345,000 $49,286 $0 5.97%
    36% 3 $125,000 $41,667 $0 4.75%
    >60% 2 $110,000 $55,000 $0 6.07%
    37% 2 $60,000 $30,000 $0 5.32%
    41% 2 $80,000 $40,000 $0 6.39%
    42% 2 $140,000 $70,000 $0 5.13%
    44% 2 $50,000 $25,000 $0 6.52%
    50-60% 2 $30,000 $15,000 $0 6.64%
    45% 1 $15,000 $15,000 $0 4.75%
    47% 1 $25,000 $25,000 $0 5.00%
    43% 1 $25,000 $25,000 $0 6.64%
    38% 1 $45,000 $45,000 $0 6.89%

    Memberfocus Community lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 36 $1,810,000 $50,278 $0 5.88%
    Not provided 7 $335,000 $47,857 $0 5.67%
    Black 4 $140,000 $35,000 $0 6.22%
    Not applicable 3 $135,000 $45,000 $0 5.84%

    Approval Rates

    Total approvals of all applications
    75.32%

    Memberfocus Community has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.00%

    Memberfocus Community has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 50 $2,420,000 $48,400

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 50 $2,420,000 $48,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $890,000 $63,571 $0 5.79%
    40-60% 7 $315,000 $45,000 $0 6.44%
    60-80% 5 $325,000 $65,000 $0 5.51%
    80-100% 1 $105,000 $105,000 $0 5.25%
    Over 100% 1 $85,000 $85,000 $0 6.89%
    Under 20% 22 $700,000 $31,818 $0 5.82%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MEMBER FIRST MORTGAGE, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%