Is Hancock Mortgage Partners LLC An Expensive Mortgage Lender?

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

Interest Rate: higher than average (+0.15%)
Loan Related Closing Costs: higher than average (+$1122)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Hancock Mortgage Partners LLC originated 1196 mortgages, a national market share of 0.0%. It was most active in TN (0.1% market share), MN (0.1% market share), and AR (0.1% market share).

On average, Hancock Mortgage Partners LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.15%).1The comparable mortgages control for Hancock Mortgage Partners LLC’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 $6100, which was higher than those of comparable mortgages at $4978, with a difference of +$1122. Overall, we estimate that Hancock Mortgage Partners LLC tends to be an expensive lender, with a cost-adjusted-rate difference of +0.25% 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. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Hancock Mortgage Partners LLC.

Hancock Mortgage Partners LLC originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Hancock Mortgage Partners LLC compared to other lenders

ConformingFHAVA
Interest Rate Difference+0.12%+0.18%+0.25%
Loan related Closing Cost Difference+$1173+$1150+$1020
Cost Adjusted Rate Difference+0.23%+0.28%+0.32%

Based on the table above, Hancock Mortgage Partners LLC is more expensive than other lenders for Conforming, FHA and VA purchase mortgages.

Mortgage Refinancing from Hancock Mortgage Partners LLC compared to other lenders

Conforming
Interest Rate Difference+0.10%
Loan Related Closing Cost Difference+$962
Cost Adjusted Rate Difference+0.22%

Based on the table above, Hancock Mortgage Partners LLC is more expensive than other lenders for Conforming mortgage refinance.

Other information about Hancock Mortgage Partners LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Sugar Land, TX, 77478

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Footnotes

Footnotes
1The comparable mortgages control for Hancock Mortgage Partners LLC’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.