Is BNB Financial Inc An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at BNB Financial Inc with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.14%)
Loan Related Closing Costs: higher than average (+$340)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, BNB Financial Inc originated 79 mortgages, a national market share of 0.0%. It was primarily active in CA, with a 0.0% market share.

On average, BNB Financial Inc’s interest rates were higher than those of comparable mortgages at other lenders (+0.14%).1The comparable mortgages control for BNB Financial Inc’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 $6646, which was higher than those of comparable mortgages at $6306, with a difference of +$340. Overall, we estimate that BNB Financial Inc tends to be an expensive lender, with a cost-adjusted-rate difference of +0.15% 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 BNB Financial Inc.

BNB Financial Inc originated Conforming mortgages for new home purchases. 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 BNB Financial Inc compared to other lenders

Conforming
Interest Rate Difference +0.14%
Loan related Closing Cost Difference +$340
Cost Adjusted Rate Difference +0.15%

Based on the table above, BNB Financial Inc is more expensive than other lenders for Conforming purchase mortgages.

Other information about BNB Financial Inc:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: GLENDALE, CA, 91203
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Footnotes   [ + ]

1. The comparable mortgages control for BNB Financial Inc’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.