Is Mortgage Management Consultants, Inc. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Mortgage Management Consultants, Inc. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.04%)
Loan Related Closing Costs: lower than average (-$1532)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Mortgage Management Consultants, Inc. originated 302 mortgages, a national market share of 0.0%. It was most active in CA (0.0% market share), AZ (0.0% market share), and WA (0.0% market share).

On average, Mortgage Management Consultants, Inc.’s interest rates were similar to those of comparable mortgages at other lenders (+0.04%).1The comparable mortgages control for Mortgage Management Consultants, Inc.’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 $5526, which was lower than those of comparable mortgages at $7058, with a difference of -$1532. Overall, we estimate that Mortgage Management Consultants, Inc. tends to be an cheap 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. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Mortgage Management Consultants, Inc..

Mortgage Management Consultants, Inc. originated Conforming and FHA 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 Mortgage Management Consultants, Inc. compared to other lenders

Conforming FHA
Interest Rate Difference +0.05% +0.01%
Loan related Closing Cost Difference -$913 -$3190
Cost Adjusted Rate Difference -0.01% -0.19%

Based on the table above, Mortgage Management Consultants, Inc. is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Mortgage Management Consultants, Inc. compared to other lenders

Conforming
Interest Rate Difference +0.07%
Loan Related Closing Cost Difference +$117
Cost Adjusted Rate Difference +0.09%

Based on the table above, Mortgage Management Consultants, Inc. is more expensive than other lenders for Conforming mortgage refinance.

Other information about Mortgage Management Consultants, Inc.:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Palmdale, CA, 93551
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Footnotes   [ + ]

1. The comparable mortgages control for Mortgage Management Consultants, Inc.’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.