Metropolitan Life Insurance Co Mortgage Rates, Fees & Info
Whippany, NJLEI: C4BXATY60WC6XEOZDX54
Tax ID: 13-5581829
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Mortgage Data
Review & Overview
Metropolitan Life Insurance Co is a mid-sized 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: New York, Atlanta, Denver, Washington, and Houston among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Metropolitan Life Insurance Co has an average approval rate when compared to the average across all 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 |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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. | ||
Metropolitan Life Insurance Co Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
61Origination Dollar Volume (All Markets)
$3,279,635,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $395,085,000 | $79,017,000 | $0 | 4.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $353,785,000 | $50,540,714 | $0 | 3.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $311,115,000 | $103,705,000 | $0 | 3.70% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $302,120,000 | $75,530,000 | $0 | 4.20% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $179,185,000 | $35,837,000 | $0 | 3.81% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $167,515,000 | $55,838,333 | $0 | 3.99% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $149,775,000 | $49,925,000 | $0 | 3.87% |
| BOULDER, CO (FHA|USDA|VA) | 3 | $149,015,000 | $49,671,667 | $0 | 3.98% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $147,350,000 | $36,837,500 | $0 | 3.81% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $129,035,000 | $43,011,667 | $0 | 4.40% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $115,005,000 | $115,005,000 | $0 | 3.07% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $100,005,000 | $100,005,000 | $0 | 4.40% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $98,095,000 | $32,698,333 | $0 | 4.15% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $82,910,000 | $41,455,000 | $0 | 3.26% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $79,005,000 | $79,005,000 | $0 | 3.92% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $76,260,000 | $38,130,000 | $0 | 4.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $73,830,000 | $36,915,000 | $0 | 3.85% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $60,005,000 | $60,005,000 | $0 | 3.41% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $49,405,000 | $49,405,000 | $0 | 3.60% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $48,005,000 | $48,005,000 | $0 | 3.40% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $42,105,000 | $42,105,000 | $0 | 4.74% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $41,005,000 | $41,005,000 | $0 | 4.22% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $40,005,000 | $40,005,000 | $0 | 3.93% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $32,005,000 | $32,005,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $30,005,000 | $30,005,000 | $0 | 3.43% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $28,005,000 | $28,005,000 | $0 | 3.92% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $3,279,635,000 | $53,764,508 | $0 | 3.92% |
For 2019, Metropolitan Life Insurance Co's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 33 | $1,783,815,000 | $54,055,000 | $0 | 3.96% |
| Home Purchase | 28 | $1,495,820,000 | $53,422,143 | $0 | 3.89% |
For 2019, Metropolitan Life Insurance Co's most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 28 originations.
Loan Duration/Length
For 2019, Metropolitan Life Insurance Co's most frequently cited loan duration was 5 Year, with 24 originations. The 2nd most popular length was 10 Year, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 37 | $1,945,835,000 | $52,590,135 |
| 4-5% | 18 | $1,023,210,000 | $56,845,000 |
| 7-8% | 1 | $134,565,000 | $134,565,000 |
During 2019, Metropolitan Life Insurance Co's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 37 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 61 | $3,279,635,000 | $53,764,508 | $0 | 3.92% |
2019 saw Metropolitan Life Insurance Co place emphasis on $1MM+ loans with 61 originations, totaling $3,279,635,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 61 | $3,279,635,000 | $53,764,508 | $0 | 3.92% |
Approval Rates
Total approvals of all applications82.43%
Metropolitan Life Insurance Co has a below average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 61 | $3,279,635,000 | $53,764,508 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 61 | $3,279,635,000 | $53,764,508 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Metropolitan Home Mortgage, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |