Is The Central Trust Bank An Expensive Mortgage Lender?

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

Interest Rate: similar to average (-0.02%)
Loan Related Closing Costs: similar to average (+$76)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, The Central Trust Bank originated 1176 mortgages, a national market share of 0.0%. It was most active in MO (0.5% market share), CO (0.2% market share), and NC (0.1% market share).

On average, The Central Trust Bank’s interest rates were similar to those of comparable mortgages at other lenders (-0.02%).1The comparable mortgages control for The Central Trust 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 $3306, which was similar to those of comparable mortgages at $3230, with a difference of +$76. Overall, we estimate that The Central Trust Bank tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% 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 The Central Trust Bank.

The Central Trust Bank originated Conforming 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 The Central Trust Bank compared to other lenders

Conforming VA
Interest Rate Difference -0.02% +0.07%
Loan related Closing Cost Difference +$114 +$837
Cost Adjusted Rate Difference -0.01% +0.13%

Based on the table above, The Central Trust Bank is similar to other lenders for Conforming purchase mortgages. It is more expensive than other lenders for VA purchase mortgages.

Mortgage Refinancing from The Central Trust Bank compared to other lenders

Conforming
Interest Rate Difference -0.03%
Loan Related Closing Cost Difference -$363
Cost Adjusted Rate Difference -0.06%

Based on the table above, The Central Trust Bank is cheap for Conforming mortgage refinance.

Other information about The Central Trust Bank:

Regulator: Federal Reserve System (FRS) 
Top holder: CENTRAL BANCOMPANY, INC
Registered city and state: JEFFERSON CITY, MO, 65101
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Footnotes   [ + ]

1. The comparable mortgages control for The Central Trust 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.