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 and Other loans. Memberfocus Community has an average proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, and Adrian 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

    30

    Origination Dollar Volume (All Markets)

    $1,680,000

    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) 26 $1,480,000 $56,923 $0 4.66%
    Outside of Metro Areas 2 $120,000 $60,000 $0 4.75%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
    Adrian, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.49%
    Memberfocus Community's top markets include Detroit, Ann Arbor, and Adrian 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.

    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 472
    T&I Credit union
    Similarity Rank: 660
    Preston Home Loans Inc
    Similarity Rank: 736
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 1280
    Extra
    Similarity Rank: 1386
    Isabella Bank
    Similarity Rank: 1792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 20 $1,370,000 $68,500 n/a 4.18%
    Conventional 10 $310,000 $31,000 $0 5.59%

    For 2020, Memberfocus Community's most frequently originated type of loan was HELOC, with 20 originations. Their 2nd most popular type was Conventional, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 15 $645,000 $43,000 $0 4.57%
    Other 10 $810,000 $81,000 $0 4.77%
    Refi 2 $80,000 $40,000 $0 4.75%
    Cash Out Refi 2 $90,000 $45,000 $0 5.12%
    Home Purchase 1 $55,000 $55,000 $0 4.00%

    For 2020, Memberfocus Community's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Other, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 22 $1,430,000 $65,000 $0 4.31%
    10 Year 5 $145,000 $29,000 $0 5.49%
    15 Year 2 $90,000 $45,000 $0 5.99%
    5 Year 1 $15,000 $15,000 $0 5.49%

    For 2020, Memberfocus Community's most frequently cited loan duration was Other, with 22 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 14 $860,000 $61,429
    5-6% 10 $310,000 $31,000
    4-5% 5 $445,000 $89,000

    During 2020, Memberfocus Community's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $985,000 $39,400 $0 4.76%
    $100k-200k 5 $695,000 $139,000 $0 4.25%

    2020 saw Memberfocus Community place emphasis on $100,000 or less loans with 25 originations, totaling $985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 9 $315,000 $35,000 $0 4.88%
    $75k-100k 8 $520,000 $65,000 $0 4.53%
    $50k or less 7 $195,000 $27,857 $0 5.03%
    $100k-150k 5 $595,000 $119,000 $0 4.10%
    $150k-250k 1 $55,000 $55,000 $0 4.00%

    Memberfocus Community lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $75k-100k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $860,000 $53,750 $0 4.45%
    20-30% 6 $430,000 $71,667 $0 5.00%
    30-36% 5 $275,000 $55,000 $0 5.04%
    40% 1 $35,000 $35,000 $0 5.49%
    41% 1 $25,000 $25,000 $0 4.00%
    50-60% 1 $55,000 $55,000 $0 4.00%

    Memberfocus Community lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 13 $825,000 $63,462 $0 4.48%
    Not provided 13 $685,000 $52,692 $0 4.97%
    Not applicable 2 $80,000 $40,000 $0 4.38%
    Black 1 $65,000 $65,000 $0 4.00%
    Asian 1 $25,000 $25,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    86.05%

    Memberfocus Community has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    Memberfocus Community has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 30 $1,680,000 $56,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 30 $1,680,000 $56,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $740,000 $52,857 $0 4.76%
    40-60% 7 $525,000 $75,000 $0 4.33%
    60-80% 2 $210,000 $105,000 $0 4.38%
    Under 20% 7 $205,000 $29,286 $0 4.85%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MEMBER MORTGAGE SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%