Is Affiliated Bank An Expensive Mortgage Lender?

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

Interest Rate: similar to average (+0.04%)
Loan Related Closing Costs: similar to average (+$160)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Affiliated Bank originated 878 mortgages, a national market share of 0.0%. It was most active in TX (0.2% market share), OK (0.1% market share), and TN (0.0% market share).

On average, Affiliated Bank’s interest rates were similar to those of comparable mortgages at other lenders (+0.04%).3The comparable mortgages control for Affiliated Bank’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 $5673, which was similar to those of comparable mortgages at $5513, with a difference of +$160. Overall, we estimate that Affiliated Bank tends to be an expensive lender, with a cost-adjusted-rate difference of +0.06% compared to comparable mortgages at other lenders.4Cost 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 Affiliated Bank.

Affiliated Bank originated Conforming, FHA 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 Affiliated Bank compared to other lenders

Conforming FHA VA
Interest Rate Difference +0.03% -0.02% +0.21%
Loan related Closing Cost Difference +$117 +$496 +$162
Cost Adjusted Rate Difference +0.05% +0.03% +0.20%

Based on the table above, Affiliated Bank is similar to other lenders for FHA purchase mortgages. It is more expensive than other lenders for Conforming and VA purchase mortgages.

Mortgage Refinancing from Affiliated Bank compared to other lenders

Conforming
Interest Rate Difference +0.07%
Loan Related Closing Cost Difference -$32
Cost Adjusted Rate Difference +0.07%

Based on the table above, Affiliated Bank is more expensive than other lenders for Conforming mortgage refinance.

Other information about Affiliated Bank:

Regulator: Office of the Comptroller of the Currency (OCC) 
Top holder: SBH MANAGER, LLC
Registered city and state: BEDFORD, TX, 76021
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Footnotes

1, 3 The comparable mortgages control for Affiliated Bank’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, 4 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.