Is Lynx Mortgage Bank LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Lynx Mortgage Bank LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.06%)
Loan Related Closing Costs: lower than average (-$1415)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Lynx Mortgage Bank LLC originated 254 mortgages, a national market share of 0.0%. It was primarily active in NY, with a 0.1% market share.

On average, Lynx Mortgage Bank LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.06%).1The comparable mortgages control for Lynx Mortgage Bank LLC’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 $6655, which was lower than those of comparable mortgages at $8070, with a difference of -$1415. Overall, we estimate that Lynx Mortgage Bank LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.00% 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 Lynx Mortgage Bank LLC.

Lynx Mortgage Bank LLC originated Conforming and FHA 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 Lynx Mortgage Bank LLC compared to other lenders

Conforming FHA
Interest Rate Difference +0.08% +0.07%
Loan related Closing Cost Difference -$1472 -$2266
Cost Adjusted Rate Difference +0.02% -0.03%

Based on the table above, Lynx Mortgage Bank LLC is similar to other lenders for Conforming and FHA purchase mortgages.

Mortgage Refinancing from Lynx Mortgage Bank LLC compared to other lenders

Conforming
Interest Rate Difference -0.03%
Loan Related Closing Cost Difference -$431
Cost Adjusted Rate Difference -0.05%

Based on the table above, Lynx Mortgage Bank LLC is cheap for Conforming mortgage refinance.

Other information about Lynx Mortgage Bank LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: WESTBURY, NY, 11590

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Footnotes   [ + ]

1. The comparable mortgages control for Lynx Mortgage Bank LLC’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.