Is MSA Mortgage LLC An Expensive Mortgage Lender?

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

Interest Rate: similar to average (-0.01%)
Loan Related Closing Costs: lower than average (-$324)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, MSA Mortgage LLC originated 856 mortgages, a national market share of 0.0%. It was most active in MA (0.6% market share), VT (0.6% market share), and NH (0.1% market share).

On average, MSA Mortgage LLC’s interest rates were similar to those of comparable mortgages at other lenders (-0.01%).1The comparable mortgages control for MSA Mortgage 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 $3572, which was lower than those of comparable mortgages at $3896, with a difference of -$324. Overall, we estimate that MSA Mortgage LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.03% 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 MSA Mortgage LLC.

MSA Mortgage LLC 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 MSA Mortgage LLC compared to other lenders

Conforming
Interest Rate Difference -0.02%
Loan related Closing Cost Difference -$138
Cost Adjusted Rate Difference -0.02%

Based on the table above, MSA Mortgage LLC is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from MSA Mortgage LLC compared to other lenders

Conforming
Interest Rate Difference -0.01%
Loan Related Closing Cost Difference -$917
Cost Adjusted Rate Difference -0.05%

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

Other information about MSA Mortgage LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: WINTHROP, MA, 02152

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Footnotes   [ + ]

1. The comparable mortgages control for MSA Mortgage 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.