We compare mortgage interest rate and loan related closing costs at MB Financial Bank NA with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.15%)
Loan Related Closing Costs: similar to average (-$151)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, MB Financial Bank NA originated 7720 mortgages, a national market share of 0.1%. It was most active in NE (0.7% market share), IL (0.6% market share), and NY (0.5% market share).
On average, MB Financial Bank NA’s interest rates were lower than those of comparable mortgages at other lenders (-0.15%).1The comparable mortgages control for MB Financial Bank NA’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 $4614, which was similar to those of comparable mortgages at $4765, with a difference of -$151. Overall, we estimate that MB Financial Bank NA tends to be an cheap lender, with a cost-adjusted-rate difference of -0.17% 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 MB Financial Bank NA.
MB Financial Bank NA originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA 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 MB Financial Bank NA compared to other lenders
| Conforming | FHA | Jumbo | USDA | VA | |
|---|---|---|---|---|---|
| Interest Rate Difference | -0.13% | -0.22% | +0.12% | -0.25% | -0.21% |
| Loan related Closing Cost Difference | +$104 | -$759 | +$10 | -$925 | -$827 |
| Cost Adjusted Rate Difference | -0.13% | -0.31% | +0.12% | -0.37% | -0.27% |
Based on the table above, MB Financial Bank NA is cheap for Conforming, FHA, USDA and VA purchase mortgages. It is more expensive than other lenders for Jumbo purchase mortgages.
Mortgage Refinancing from MB Financial Bank NA compared to other lenders
| Conforming | FHA | VA | |
|---|---|---|---|
| Interest Rate Difference | -0.14% | -0.22% | -0.21% |
| Loan Related Closing Cost Difference | -$286 | -$755 | -$129 |
| Cost Adjusted Rate Difference | -0.16% | -0.31% | -0.23% |
Based on the table above, MB Financial Bank NA is cheap for Conforming, FHA and VA mortgage refinance.
Other information about MB Financial Bank NA:
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: FIFTH THIRD BANCORP
Registered city and state: Ann Arbor, MI, 48105