Is Union Capital Mortgage Corp. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Union Capital Mortgage Corp. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.01%)
Loan Related Closing Costs: higher than average (+$829)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Union Capital Mortgage Corp. originated 490 mortgages, a national market share of 0.0%. It was most active in OH (0.2% market share), FL (0.0% market share), and GA (0.0% market share).

On average, Union Capital Mortgage Corp.’s interest rates were similar to those of comparable mortgages at other lenders (-0.01%).1The comparable mortgages control for Union Capital Mortgage Corp.’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 $5201, which was higher than those of comparable mortgages at $4373, with a difference of +$829. Overall, we estimate that Union Capital Mortgage Corp. tends to be an expensive lender, with a cost-adjusted-rate difference of +0.06% 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 Union Capital Mortgage Corp..

Union Capital Mortgage Corp. originated Conforming and FHA 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 Union Capital Mortgage Corp. compared to other lenders

Conforming FHA
Interest Rate Difference +0.00% -0.07%
Loan related Closing Cost Difference +$909 +$520
Cost Adjusted Rate Difference +0.08% -0.03%

Based on the table above, Union Capital Mortgage Corp. is similar to other lenders for FHA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages.

Other information about Union Capital Mortgage Corp.:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Mentor, OH, 44060
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Footnotes   [ + ]

1. The comparable mortgages control for Union Capital Mortgage Corp.’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.