Metropolitan Life Insurance Co Mortgage Rates, Fees & Info
Whippany, NJLEI: C4BXATY60WC6XEOZDX54
Tax ID: 13-5581829
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Metropolitan Life Insurance Co is a smaller mortgage company specializing in Refi and Home Purchase loans. Metropolitan Life Insurance Co has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Seattle, Cape Coral, Phoenix, and Miami among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Metropolitan Life Insurance Co has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
19Origination Dollar Volume (All Markets)
$722,035,000Top 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 |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $144,180,000 | $72,090,000 | $0 | 5.81% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $78,010,000 | $39,005,000 | $0 | 8.71% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $61,165,000 | $61,165,000 | $0 | 6.94% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $57,160,000 | $28,580,000 | $0 | 7.22% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $53,675,000 | $53,675,000 | $0 | 8.27% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $48,760,000 | $24,380,000 | $0 | 7.31% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $43,235,000 | $43,235,000 | $0 | 7.55% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $41,255,000 | $41,255,000 | $0 | 5.50% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $41,205,000 | $41,205,000 | $0 | 7.34% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $32,505,000 | $32,505,000 | $0 | 6.51% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $30,605,000 | $30,605,000 | $0 | 7.54% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $24,755,000 | $24,755,000 | $0 | 5.19% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $23,255,000 | $23,255,000 | $0 | 7.53% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $21,615,000 | $21,615,000 | $0 | 8.34% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $20,655,000 | $20,655,000 | $0 | 7.28% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $722,035,000 | $38,001,842 | $0 | 7.16% |
For 2024, Metropolitan Life Insurance Co's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 11 | $403,385,000 | $36,671,364 | $0 | 7.24% |
| Home Purchase | 8 | $318,650,000 | $39,831,250 | $0 | 7.05% |
For 2024, Metropolitan Life Insurance Co's most frequently cited loan purpose was Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 19 | $722,035,000 | $38,001,842 | $0 | 7.16% |
For 2024, Metropolitan Life Insurance Co's most frequently cited loan duration was Other, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 8 | $249,720,000 | $31,215,000 |
| 6-7% | 4 | $183,680,000 | $45,920,000 |
| Over 8% | 4 | $130,300,000 | $32,575,000 |
| 5-6% | 3 | $158,335,000 | $52,778,333 |
During 2024, Metropolitan Life Insurance Co's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 8 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 19 | $722,035,000 | $38,001,842 | $0 | 7.16% |
2024 saw Metropolitan Life Insurance Co place emphasis on $1MM+ loans with 19 originations, totaling $722,035,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 19 | $722,035,000 | $38,001,842 | $0 | 7.16% |
Approval Rates
Total approvals of all applications100.00%
Metropolitan Life Insurance Co has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination31.58%
Metropolitan Life Insurance Co has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 19 | $722,035,000 | $38,001,842 |