Is Cendera Funding Inc. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Cendera Funding Inc. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.03%)
Loan Related Closing Costs: higher than average (+$267)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Cendera Funding Inc. originated 1748 mortgages, a national market share of 0.0%. It was most active in TX (0.3% market share), CO (0.1% market share), and OK (0.0% market share).

On average, Cendera Funding Inc.’s interest rates were similar to those of comparable mortgages at other lenders (+0.03%).1The comparable mortgages control for Cendera Funding 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 $6346, which was higher than those of comparable mortgages at $6080, with a difference of +$267. Overall, we estimate that Cendera Funding Inc. tends to be an average cost lender, with a cost-adjusted-rate difference of +0.05% 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 Cendera Funding Inc..

Cendera Funding Inc. originated Conforming, FHA, USDA 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 Cendera Funding Inc. compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference +0.04% -0.04% +0.01% +0.10%
Loan related Closing Cost Difference +$421 +$249 +$162 -$311
Cost Adjusted Rate Difference +0.07% -0.02% +0.02% +0.08%

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

Mortgage Refinancing from Cendera Funding Inc. compared to other lenders

Conforming
Interest Rate Difference +0.11%
Loan Related Closing Cost Difference +$132
Cost Adjusted Rate Difference +0.13%

Based on the table above, Cendera Funding Inc. is more expensive than other lenders for Conforming mortgage refinance.

Other information about Cendera Funding Inc.:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Fort Worth, TX, 76116
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Footnotes   [ + ]

1. The comparable mortgages control for Cendera Funding 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.