We compare mortgage interest rate and loan related closing costs at Cbna with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (-$95)
Assessment: this lender tends to be a average cost lender.
This scoreboard is based on data reported to FFIEC. In the data, Cbna originated 40543 mortgages, a national market share of 0.6%. It was most active in RI (10.5% market share), NH (6.5% market share), and MA (5.1% market share).
On average, Cbna’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Cbna’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 $4382, which was similar to those of comparable mortgages at $4477, with a difference of -$95. Overall, we estimate that Cbna tends to be an average cost lender, with a cost-adjusted-rate difference of -0.04% 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 Cbna.
Cbna originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA 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 Cbna compared to other lenders
| Conforming | FHA | Jumbo | USDA | VA | |
|---|---|---|---|---|---|
| Interest Rate Difference | -0.02% | -0.13% | -0.10% | +0.07% | +0.02% |
| Loan related Closing Cost Difference | -$65 | -$362 | -$382 | -$43 | +$361 |
| Cost Adjusted Rate Difference | -0.02% | -0.16% | -0.11% | +0.06% | +0.05% |
Based on the table above, Cbna is cheap for FHA and Jumbo purchase mortgages. It is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for USDA and VA purchase mortgages.
Mortgage Refinancing from Cbna compared to other lenders
| Conforming | FHA | Jumbo | VA | |
|---|---|---|---|---|
| Interest Rate Difference | -0.06% | -0.02% | +0.05% | -0.02% |
| Loan Related Closing Cost Difference | +$14 | -$668 | -$408 | -$970 |
| Cost Adjusted Rate Difference | -0.04% | -0.10% | +0.04% | -0.11% |
Based on the table above, Cbna is cheap for FHA and VA mortgage refinance. It is similar to other lenders for Conforming and Jumbo mortgage refinance.
Other information about Cbna:
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: CITIZENS FINANCIAL GROUP, INC.
Registered city and state: Providence, RI, 02903