Is University Lending Group LLC An Expensive Mortgage Lender?

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

Interest Rate: similar to average (+0.01%)
Loan Related Closing Costs: similar to average (+$125)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, University Lending Group LLC originated 2720 mortgages, a national market share of 0.0%. It was most active in IN (0.3% market share), FL (0.3% market share), and MI (0.2% market share).

On average, University Lending Group LLC’s interest rates were similar to those of comparable mortgages at other lenders (+0.01%).1The comparable mortgages control for University Lending Group 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 $4662, which was similar to those of comparable mortgages at $4536, with a difference of +$125. Overall, we estimate that University Lending Group LLC tends to be an average cost lender, with a cost-adjusted-rate difference of +0.02% 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 University Lending Group LLC.

University Lending Group LLC originated Conforming, FHA, USDA and VA 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 University Lending Group LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.03% +0.07% -0.00% +0.06%
Loan related Closing Cost Difference +$200 +$194 +$313 -$130
Cost Adjusted Rate Difference -0.02% +0.08% +0.04% +0.04%

Based on the table above, University Lending Group LLC is similar to other lenders for Conforming, USDA and VA purchase mortgages. It is more expensive than other lenders for FHA purchase mortgages.

Mortgage Refinancing from University Lending Group LLC compared to other lenders

Conforming
Interest Rate Difference +0.07%
Loan Related Closing Cost Difference -$103
Cost Adjusted Rate Difference +0.07%

Based on the table above, University Lending Group LLC is more expensive than other lenders for Conforming mortgage refinance.

Other information about University Lending Group LLC:

Regulator: Federal Deposit Insurance Corporation (FDIC) 
Top holder: UNIVERSITY BANCORP, INC.
Registered city and state: CLLINTON TOWNSHIP, MI, 48038

Footnotes   [ + ]

1. The comparable mortgages control for University Lending Group 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.

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