Midsouth Bank Mortgage Rates, Fees & Info

Lafayette, LA

LEI: MXUKQJKNI44KEXCGF743

Tax ID: 72-0995175

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Midsouth Bank is a smaller bank specializing in Refi and Home Purchase loans. Midsouth Bank has a high proportion of conventional loans. Their top markets by origination volume include: Shreveport, Lafayette, Dallas, Oklahoma City, and Baton Rouge among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midsouth Bank 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.

    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

    36

    Origination Dollar Volume (All Markets)

    $8,010,000

    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
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $3,300,000 $1,650,000 $0 5.63%
    LAFAYETTE, LA (FHA|USDA|VA) 14 $1,350,000 $96,429 $819 6.58%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $670,000 $167,500 $1,467 6.62%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $505,000 $505,000 $0 5.50%
    BATON ROUGE, LA (FHA|USDA|VA) 3 $465,000 $155,000 $4,036 6.25%
    Jennings, LA (FHA|USDA|VA) 3 $405,000 $135,000 $779 6.84%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.00%
    Opelousas, LA (FHA|USDA|VA) 1 $395,000 $395,000 $3,042 5.51%
    LAKE CHARLES, LA (FHA|USDA|VA) 2 $260,000 $130,000 $0 6.63%
    Morgan City, LA (FHA|USDA|VA) 3 $175,000 $58,333 $0 7.30%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $65,000 $65,000 $776 5.51%
    Outside of Metro Areas 1 $15,000 $15,000 $618 6.01%
    Midsouth Bank's top markets include Shreveport, Lafayette, Dallas, Oklahoma City, and Baton Rouge among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 36 $8,010,000 $222,500 $1,399 6.41%

    For 2019, Midsouth Bank's most frequently originated type of loan was Conventional, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 23 $2,685,000 $116,739 $1,399 6.47%
    Home Purchase 13 $5,325,000 $409,615 $0 6.31%

    For 2019, Midsouth Bank's most frequently cited loan purpose was Refi, with 23 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 12 $5,010,000 $417,500 $0 6.29%
    Other 12 $1,670,000 $139,167 $1,663 6.25%
    3 Year 6 $220,000 $36,667 $671 7.33%
    20 Year 4 $650,000 $162,500 $0 6.56%
    10 Year 1 $405,000 $405,000 $0 4.00%
    1 Year 1 $55,000 $55,000 $1,011 6.01%

    For 2019, Midsouth Bank's most frequently cited loan duration was 5 Year, with 12 originations. The 2nd most popular length was Other, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 9 $915,000 $101,667
    $1k-2k 1 $175,000 $175,000

    Midsouth Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 13 $5,775,000 $444,231
    % 7 $335,000 $47,857
    6-7% 6 $850,000 $141,667
    7-8% 5 $225,000 $45,000
    Over 8% 3 $125,000 $41,667
    3-4% 1 $405,000 $405,000
    4-5% 1 $295,000 $295,000

    During 2019, Midsouth Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 13 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $730,000 $40,556 $778 7.00%
    $100k-200k 9 $1,315,000 $146,111 $4,036 6.08%
    $200k-400k 5 $1,495,000 $299,000 $2,255 5.84%
    $400k-600k 3 $1,355,000 $451,667 $0 5.00%
    $1MM+ 1 $3,115,000 $3,115,000 $0 5.75%

    2019 saw Midsouth Bank place emphasis on $100,000 or less loans with 18 originations, totaling $730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 5 $1,005,000 $201,000 $4,036 5.90%
    $75k-100k 4 $110,000 $27,500 $719 7.07%
    $100k-150k 3 $425,000 $141,667 $1,121 5.57%
    $50k or less 3 $95,000 $31,667 $838 6.68%
    $150k-250k 1 $395,000 $395,000 $3,042 5.51%
    $50k-75k 1 $15,000 $15,000 $719 7.01%

    Midsouth Bank lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $75k-100k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 4 $110,000 $27,500 $687 6.57%
    30-36% 2 $330,000 $165,000 $1,144 5.98%
    <20% 1 $65,000 $65,000 $776 5.51%
    39% 1 $175,000 $175,000 $4,036 6.01%
    42% 1 $25,000 $25,000 $779 7.01%

    Midsouth Bank lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? 30-36%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 18 $5,840,000 $324,444 $0 6.51%
    White 17 $2,135,000 $125,588 $1,399 6.24%
    Black 1 $35,000 $35,000 $0 7.51%

    Approval Rates

    Total approvals of all applications
    91.30%

    Midsouth Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    Midsouth Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 36 $8,010,000 $222,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $3,915,000 $1,305,000
    Single Family (1-4 Units):Manufactured 5 $105,000 $21,000
    Single Family (1-4 Units):Site-Built 28 $3,990,000 $142,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $420,000 $70,000 $886 6.33%
    40-60% 7 $885,000 $126,429 $1,546 6.83%
    60-80% 15 $6,005,000 $400,333 $0 5.93%
    80-100% 2 $410,000 $205,000 $0 6.13%
    Under 20% 6 $290,000 $48,333 $4,036 7.29%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MIDWEST EQUITY MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 100.0%