Is Network Capital Funding Corporation An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Network Capital Funding Corporation with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.03%)
Loan Related Closing Costs: similar to average (-$17)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Network Capital Funding Corporation originated 1378 mortgages, a national market share of 0.0%. It was most active in DC (0.1% market share), VA (0.1% market share), and MD (0.1% market share).

On average, Network Capital Funding Corporation’s interest rates were similar to those of comparable mortgages at other lenders (-0.03%).1The comparable mortgages control for Network Capital Funding Corporation’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 $5536, which was similar to those of comparable mortgages at $5553, with a difference of -$17. Overall, we estimate that Network Capital Funding Corporation 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 Network Capital Funding Corporation.

Network Capital Funding Corporation originated Conforming mortgages for new home purchases. It also originated Conforming, FHA and VA 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 Network Capital Funding Corporation compared to other lenders

Conforming
Interest Rate Difference +0.07%
Loan related Closing Cost Difference +$292
Cost Adjusted Rate Difference +0.09%

Based on the table above, Network Capital Funding Corporation is more expensive than other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Network Capital Funding Corporation compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.00% -0.07% -0.17%
Loan Related Closing Cost Difference +$153 +$158 -$1003
Cost Adjusted Rate Difference +0.01% -0.06% -0.23%

Based on the table above, Network Capital Funding Corporation is cheap for FHA and VA mortgage refinance. It is similar to other lenders for Conforming mortgage refinance.

Other information about Network Capital Funding Corporation:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: IRVINE, CA, 92614
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Footnotes   [ + ]

1. The comparable mortgages control for Network Capital Funding Corporation’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.