Is TIB The Independent Bankers Bank An Expensive Mortgage Lender?

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

Interest Rate: lower than average (-0.12%)
Loan Related Closing Costs: similar to average (-$111)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, TIB The Independent Bankers Bank originated 1161 mortgages, a national market share of 0.0%. It was most active in LA (0.3% market share), MO (0.3% market share), and MT (0.1% market share).

On average, TIB The Independent Bankers Bank’s interest rates were lower than those of comparable mortgages at other lenders (-0.12%).1The comparable mortgages control for TIB The Independent Bankers 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 $3792, which was similar to those of comparable mortgages at $3903, with a difference of -$111. Overall, we estimate that TIB The Independent Bankers Bank tends to be an cheap lender, with a cost-adjusted-rate difference of -0.13% 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 TIB The Independent Bankers Bank.

TIB The Independent Bankers Bank originated Conforming, FHA and USDA 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 TIB The Independent Bankers Bank compared to other lenders

Conforming FHA USDA
Interest Rate Difference -0.10% -0.23% -0.14%
Loan related Closing Cost Difference -$83 -$468 +$135
Cost Adjusted Rate Difference -0.10% -0.28% -0.13%

Based on the table above, TIB The Independent Bankers Bank is cheap for Conforming, FHA and USDA purchase mortgages.

Mortgage Refinancing from TIB The Independent Bankers Bank compared to other lenders

Conforming
Interest Rate Difference -0.13%
Loan Related Closing Cost Difference -$107
Cost Adjusted Rate Difference -0.13%

Based on the table above, TIB The Independent Bankers Bank is cheap for Conforming mortgage refinance.

Other information about TIB The Independent Bankers Bank:

Regulator: Office of the Comptroller of the Currency (OCC) 
Top holder: INDEPENDENT BANKERS FINANCIAL CORPORATION
Registered city and state: Farmers Branch, TX, 75234
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Footnotes   [ + ]

1. The comparable mortgages control for TIB The Independent Bankers 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. 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.