Is Raymond James Bank National Association An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Raymond James Bank National Association with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.10%)
Loan Related Closing Costs: lower than average (-$668)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Raymond James Bank National Association originated 1079 mortgages, a national market share of 0.0%. It was most active in FL (0.1% market share), CT (0.0% market share), and VT (0.0% market share).

On average, Raymond James Bank National Association’s interest rates were higher than those of comparable mortgages at other lenders (+0.10%).1The comparable mortgages control for Raymond James Bank National Association’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 $3320, which was lower than those of comparable mortgages at $3988, with a difference of -$668. Overall, we estimate that Raymond James Bank National Association tends to be an average cost lender, with a cost-adjusted-rate difference of +0.04% 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 Raymond James Bank National Association.

Raymond James Bank National Association originated Conforming mortgages for new home purchases. 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 Raymond James Bank National Association compared to other lenders

Conforming
Interest Rate Difference +0.10%
Loan related Closing Cost Difference -$668
Cost Adjusted Rate Difference +0.04%

Based on the table above, Raymond James Bank National Association is similar to other lenders for Conforming purchase mortgages.

Other information about Raymond James Bank National Association:

Regulator: Consumer Financial Protection Bureau (CFPB) 
Top holder: RAYMOND JAMES FINANCIAL, INC.
Registered city and state: SAINT PETERSBURG, FL, 33716

Footnotes   [ + ]

1. The comparable mortgages control for Raymond James Bank National Association’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.

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