We compare mortgage interest rate and loan related closing costs at Nationstar Mortgage with other lenders for mortgages with similar borrower characteristics:
Interest Rate: higher than average (+0.08%)
Loan Related Closing Costs: higher than average (+$1274)
Assessment: this lender tends to be a expensive lender.
This scoreboard is based on data reported to FFIEC. In the data, Nationstar Mortgage originated 51829 mortgages, a national market share of 0.8%. It was most active in DC (1.2% market share), NY (1.2% market share), and GA (1.2% market share).
On average, Nationstar Mortgage’s interest rates were higher than those of comparable mortgages at other lenders (+0.08%).1The comparable mortgages control for Nationstar Mortgage’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 $6275, which was higher than those of comparable mortgages at $5001, with a difference of +$1274. Overall, we estimate that Nationstar Mortgage tends to be an expensive lender, with a cost-adjusted-rate difference of +0.22% 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 Nationstar Mortgage.
Nationstar Mortgage originated Conforming, FHA and VA 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 Nationstar Mortgage compared to other lenders
|Interest Rate Difference||+0.11%||-0.08%||+0.03%|
|Loan related Closing Cost Difference||+$760||+$551||+$714|
|Cost Adjusted Rate Difference||+0.18%||-0.03%||+0.08%|
Based on the table above, Nationstar Mortgage 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 Nationstar Mortgage compared to other lenders
|Interest Rate Difference||+0.10%||-0.01%||+0.10%|
|Loan Related Closing Cost Difference||+$1693||+$344||+$322|
|Cost Adjusted Rate Difference||+0.29%||+0.05%||+0.12%|
Based on the table above, Nationstar Mortgage is more expensive than other lenders for Conforming, FHA and VA mortgage refinance.
Other information about Nationstar Mortgage:
Regulator: United States Department of Housing and Urban Development (HUD)
Registered city and state: Coppell, TX, 75019