Is Mutual Of Omaha Bank An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Mutual Of Omaha Bank with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.02%)
Loan Related Closing Costs: similar to average (+$128)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Mutual Of Omaha Bank originated 1073 mortgages, a national market share of 0.0%. It was most active in NE (0.9% market share), AZ (0.1% market share), and NV (0.0% market share).

On average, Mutual Of Omaha Bank’s interest rates were similar to those of comparable mortgages at other lenders (-0.02%).¹The comparable mortgages control for Mutual Of Omaha Bank’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 $3741, which was similar to those of comparable mortgages at $3613, with a difference of +$128. Overall, we estimate that Mutual Of Omaha Bank tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% 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 Mutual Of Omaha Bank.

Mutual Of Omaha Bank originated Conforming, FHA and Jumbo 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:

Based on the table above, Mutual Of Omaha Bank is cheap for FHA and Jumbo purchase mortgages. It is similar to other lenders for Conforming purchase mortgages.

Based on the table above, Mutual Of Omaha Bank is cheap for Conforming mortgage refinance.

Other information about Mutual Of Omaha Bank:

Regulator: Office of the Comptroller of the Currency (OCC) 
Top holder: MUTUAL OF OMAHA INSURANCE COMPANY 
Registered city and state: Omaha, NE, 68102