Is Leading Mortgage Solutions An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Leading Mortgage Solutions with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.19%)
Loan Related Closing Costs: similar to average (-$236)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Leading Mortgage Solutions originated 175 mortgages, a national market share of 0.0%. It was primarily active in CA, with a 0.0% market share.

On average, Leading Mortgage Solutions’s interest rates were lower than those of comparable mortgages at other lenders (-0.19%).1The comparable mortgages control for Leading Mortgage Solutions’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $10047, which was similar to those of comparable mortgages at $10283, with a difference of -$236. Overall, we estimate that Leading Mortgage Solutions tends to be an cheap lender, with a cost-adjusted-rate difference of -0.18% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Leading Mortgage Solutions.

Leading Mortgage Solutions specialized in mortgage refinancing, and originated VA refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Mortgage Refinancing from Leading Mortgage Solutions compared to other lenders

VA
Interest Rate Difference-0.19%
Loan Related Closing Cost Difference-$236
Cost Adjusted Rate Difference-0.18%

Based on the table above, Leading Mortgage Solutions is cheap for VA mortgage refinance.

Other information about Leading Mortgage Solutions:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: SAN DIEGO, CA, 92108

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Footnotes

Footnotes
1The comparable mortgages control for Leading Mortgage Solutions’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.