We compare mortgage interest rate and loan related closing costs at Mortgage Broker Services Inc. with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.13%)
Loan Related Closing Costs: similar to average (+$42)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Mortgage Broker Services Inc. originated 355 mortgages, a national market share of 0.0%. It was most active in WA (0.2% market share), NM (0.0% market share), and OR (0.0% market share).
On average, Mortgage Broker Services Inc.’s interest rates were lower than those of comparable mortgages at other lenders (-0.13%).1The comparable mortgages control for Mortgage Broker Services Inc.’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 $4877, which was similar to those of comparable mortgages at $4835, with a difference of +$42. Overall, we estimate that Mortgage Broker Services Inc. tends to be an cheap lender, with a cost-adjusted-rate difference of -0.12% 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 Mortgage Broker Services Inc..
Mortgage Broker Services Inc. originated Conforming 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 Mortgage Broker Services Inc. compared to other lenders
|Interest Rate Difference||-0.12%|
|Loan related Closing Cost Difference||+$309|
|Cost Adjusted Rate Difference||-0.11%|
Based on the table above, Mortgage Broker Services Inc. is cheap for Conforming purchase mortgages.
Mortgage Refinancing from Mortgage Broker Services Inc. compared to other lenders
|Interest Rate Difference||-0.13%|
|Loan Related Closing Cost Difference||-$221|
|Cost Adjusted Rate Difference||-0.13%|
Based on the table above, Mortgage Broker Services Inc. is cheap for Conforming mortgage refinance.
Other information about Mortgage Broker Services Inc.:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: RENTON, WA, 98057