Is Evergreen Moneysource Mortgage Company An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Evergreen Moneysource Mortgage Company with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.09%)
Loan Related Closing Costs: higher than average (+$576)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Evergreen Moneysource Mortgage Company originated 9598 mortgages, a national market share of 0.2%. It was most active in WA (2.8% market share), ID (1.7% market share), and NV (1.6% market share).

On average, Evergreen Moneysource Mortgage Company’s interest rates were higher than those of comparable mortgages at other lenders (+0.09%).1The comparable mortgages control for Evergreen Moneysource Mortgage Company’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 $6180, which was higher than those of comparable mortgages at $5604, with a difference of +$576. Overall, we estimate that Evergreen Moneysource Mortgage Company tends to be an expensive lender, with a cost-adjusted-rate difference of +0.13% 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 Evergreen Moneysource Mortgage Company.

Evergreen Moneysource Mortgage Company 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 Evergreen Moneysource Mortgage Company compared to other lenders

Conforming FHA Jumbo USDA VA
Interest Rate Difference +0.07% +0.09% +0.20% +0.08% +0.17%
Loan related Closing Cost Difference +$535 +$919 +$685 +$285 +$1011
Cost Adjusted Rate Difference +0.10% +0.15% +0.22% +0.09% +0.23%

Based on the table above, Evergreen Moneysource Mortgage Company is more expensive than other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages.

Mortgage Refinancing from Evergreen Moneysource Mortgage Company compared to other lenders

Conforming FHA VA
Interest Rate Difference +0.13% +0.18% +0.09%
Loan Related Closing Cost Difference +$308 +$608 -$416
Cost Adjusted Rate Difference +0.16% +0.21% +0.08%

Based on the table above, Evergreen Moneysource Mortgage Company is more expensive than other lenders for Conforming, FHA and VA mortgage refinance.

Other information about Evergreen Moneysource Mortgage Company:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Bellevue, WA, 98006

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Footnotes   [ + ]

1. The comparable mortgages control for Evergreen Moneysource Mortgage Company’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.
2. Cost 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.