Is Mann Mortgage LLC An Expensive Mortgage Lender?

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

Interest Rate: higher than average (+0.07%)
Loan Related Closing Costs: higher than average (+$601)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Mann Mortgage LLC originated 5660 mortgages, a national market share of 0.1%. It was most active in MT (6.7% market share), NV (1.2% market share), and ID (0.9% market share).

On average, Mann Mortgage LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.07%).1The comparable mortgages control for Mann Mortgage LLC’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 $6407, which was higher than those of comparable mortgages at $5806, with a difference of +$601. Overall, we estimate that Mann Mortgage LLC tends to be an expensive lender, with a cost-adjusted-rate difference of +0.12% 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 Mann Mortgage LLC.

Mann Mortgage LLC originated Conforming, FHA, USDA 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 Mann Mortgage LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference +0.07% +0.09% +0.05% +0.07%
Loan related Closing Cost Difference +$860 +$843 +$105 -$325
Cost Adjusted Rate Difference +0.13% +0.15% +0.06% +0.05%

Based on the table above, Mann Mortgage LLC is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming, FHA and USDA purchase mortgages.

Mortgage Refinancing from Mann Mortgage LLC compared to other lenders

Conforming FHA VA
Interest Rate Difference +0.08% +0.07% +0.09%
Loan Related Closing Cost Difference +$517 +$572 -$1121
Cost Adjusted Rate Difference +0.12% +0.11% +0.00%

Based on the table above, Mann Mortgage LLC is similar to other lenders for VA mortgage refinance. It is more expensive than other lenders for Conforming and FHA mortgage refinance.

Other information about Mann Mortgage LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Kalispell, MT, 59901
FB Comments

Lender Reviews:

Subscribe
Notify of
guest
Closed on time?
Did the lender have difficulty closing the loan on time?
Rating
What's your rating for the lender
0 Reviews
Inline Feedbacks
View all comments

Footnotes   [ + ]

1. The comparable mortgages control for Mann Mortgage LLC’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.