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 Other and Home Improvement loans. Memberfocus Community has a high proportion of conventional loans. Their top (well, only) market is Detroit.

    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.

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    Originations

    45

    Origination Dollar Volume (All Markets)

    $2,545,000

    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) 44 $2,510,000 $57,045 $0 5.71%
    Outside of Metro Areas 1 $35,000 $35,000 $0 6.59%
    Memberfocus Community's top markets include and Detroit 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.

    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    Dort Financial Credit Union
    Similarity Rank: 222
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 448
    Extra
    Similarity Rank: 572
    FreeStar Financial Credit Union
    Similarity Rank: 612
    UNIVERSITY OF MICHIGAN CREDIT UNION
    Similarity Rank: 935
    Zeal Credit Union
    Similarity Rank: 936
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 26 $1,420,000 $54,615 $0 6.06%
    HELOC 19 $1,125,000 $59,211 n/a 5.26%

    For 2019, Memberfocus Community's most frequently originated type of loan was Conventional, with 26 originations. Their 2nd most popular type was HELOC, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 23 $1,245,000 $54,130 $0 5.51%
    Home Improvement 14 $630,000 $45,000 $0 6.03%
    Cash Out Refi 4 $290,000 $72,500 $0 5.74%
    Refi 3 $245,000 $81,667 $0 5.83%
    Home Purchase 1 $135,000 $135,000 $0 5.99%

    For 2019, Memberfocus Community's most frequently cited loan purpose was Other, with 23 originations. The 2nd most popular reason was Home Improvement, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 20 $1,160,000 $58,000 $0 5.33%
    10 Year 15 $515,000 $34,333 $0 5.94%
    15 Year 8 $840,000 $105,000 $0 6.27%
    5 Year 2 $30,000 $15,000 $0 5.92%

    For 2019, Memberfocus Community's most frequently cited loan duration was Other, with 20 originations. The 2nd most popular length was 10 Year, with 15 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 28 $1,410,000 $50,357
    4-5% 8 $610,000 $76,250
    6-7% 7 $205,000 $29,286
    7-8% 2 $320,000 $160,000

    During 2019, Memberfocus Community's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $1,820,000 $45,500 $0 5.67%
    $100k-200k 4 $520,000 $130,000 $0 5.90%
    $200k-400k 1 $205,000 $205,000 $0 7.09%

    2019 saw Memberfocus Community place emphasis on $100,000 or less loans with 40 originations, totaling $1,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 21 $1,165,000 $55,476 $0 5.84%
    $50k-75k 10 $430,000 $43,000 $0 5.32%
    $100k-150k 7 $525,000 $75,000 $0 6.07%
    $75k-100k 5 $195,000 $39,000 $0 5.66%
    $150k-250k 1 $75,000 $75,000 $0 5.99%
    $250k+ 1 $155,000 $155,000 $0 5.00%

    Memberfocus Community lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 11 $705,000 $64,091 $0 5.55%
    20-30% 8 $560,000 $70,000 $0 5.68%
    <20% 6 $350,000 $58,333 $0 5.90%
    40% 3 $145,000 $48,333 $0 5.25%
    37% 3 $105,000 $35,000 $0 5.78%
    45% 2 $110,000 $55,000 $0 6.29%
    41% 2 $150,000 $75,000 $0 5.99%
    50-60% 2 $70,000 $35,000 $0 5.50%
    >60% 1 $55,000 $55,000 $0 6.84%
    36% 1 $45,000 $45,000 $0 5.49%
    39% 1 $85,000 $85,000 $0 5.99%
    43% 1 $15,000 $15,000 $0 6.84%
    44% 1 $25,000 $25,000 $0 5.50%
    47% 1 $15,000 $15,000 $0 5.49%
    48% 1 $25,000 $25,000 $0 5.50%
    49% 1 $85,000 $85,000 $0 5.50%

    Memberfocus Community lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $1,975,000 $56,429 $0 5.58%
    Not provided 8 $350,000 $43,750 $0 6.23%
    Black 2 $220,000 $110,000 $0 6.29%

    Approval Rates

    Total approvals of all applications
    71.43%

    Memberfocus Community has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.67%

    Memberfocus Community has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 45 $2,545,000 $56,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 45 $2,545,000 $56,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $940,000 $58,750 $0 5.69%
    40-60% 8 $710,000 $88,750 $0 5.77%
    60-80% 3 $275,000 $91,667 $0 5.83%
    80-100% 2 $170,000 $85,000 $0 5.50%
    Under 20% 16 $450,000 $28,125 $0 5.75%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MEMBER MORTGAGE SERVICES FHA mortgage Trouble during payment process 1 100.0%