Is National Exchange Bank and Trust An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at National Exchange Bank and Trust with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: lower than average (-$506)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, National Exchange Bank and Trust originated 514 mortgages, a national market share of 0.0%. It was most active in WI (0.4% market share), ID (0.0% market share), and IA (0.0% market share).

On average, National Exchange Bank and Trust’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for National Exchange Bank and Trust’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 $1555, which was lower than those of comparable mortgages at $2061, with a difference of -$506. Overall, we estimate that National Exchange Bank and Trust 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 National Exchange Bank and Trust.

National Exchange Bank and Trust 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 National Exchange Bank and Trust compared to other lenders

Conforming
Interest Rate Difference -0.04%
Loan related Closing Cost Difference -$505
Cost Adjusted Rate Difference -0.11%

Based on the table above, National Exchange Bank and Trust is cheap for Conforming purchase mortgages.

Mortgage Refinancing from National Exchange Bank and Trust compared to other lenders

Conforming
Interest Rate Difference -0.04%
Loan Related Closing Cost Difference -$508
Cost Adjusted Rate Difference -0.13%

Based on the table above, National Exchange Bank and Trust is cheap for Conforming mortgage refinance.

Other information about National Exchange Bank and Trust:

Regulator: Office of the Comptroller of the Currency (OCC) 
Top holder: NEB CORPORATION
Registered city and state: Fond du Lac, WI, 54935

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Footnotes   [ + ]

1. The comparable mortgages control for National Exchange Bank and Trust’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.