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We analyzed every closed loan from Bmo Bank National Association — 6.2k loans across 11k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Sound
vs. all lenders
Pull Through
Sound
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo
Place
Sound
National · 49 mkts
Safe Rate Awards⭐Conventional Superstar⭐Jumbo Superstar⭐Purchase Superstar
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Safe Rate's Summary
What They Do Well
- Particularly strong in Conventional and FHA and Jumbo loans
- Nationwide availability with consistent service
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Report Card
BMO Bank National Association performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Industry Standard +13.4 bps above market avg | |
Pull Through Closing strength | Industry Standard Top 60% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Industry Standard Top 60% of lenders | |
Jumbo | Market Leader Top 5% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 3,417 | 55.3% | +0.237%Above | $809Fees | ||||
FHA Loans | 169 | 2.7% | +0.640%Above | $1,338Fees | ||||
VA Loans | — | 17 | 0.3% | +0.063%Above | $2,700Fees | |||
Jumbo Loans | 2,578 | 41.7% | -0.060%Below | $645Credit |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 5,429 | 87.8% | +0.118%Above | $320Fees | ||||
Refinance | 752 | 12.2% | +0.258%Above | $177Credit |
At a Glance
Lender Overview
Lending Activity
Loans Originated
6,181
Applications
10,629
Volume
$5 billion
Pricing & Closing
Avg Rate Spread
+0.134%
vs. market APOR
Avg Net Fees
$264
Origination − Credits
Pullthrough Rate
58.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$915,566
Avg Borrower Income
$359,675
Avg Property Value
$1,253,286
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
51
Why 51? We count DC as a state
Avg Place Specialization
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
San Jose, CAMSA
Volume: 687Mix: 11.11%of portfolio
Place
Exceptional2
San Francisco, CAMSA
Volume: 281Mix: 4.55%of portfolio
Place
Exceptional3
Oakland, CAMSA
Volume: 479Mix: 7.75%of portfolio
Place
Exceptional4
Los Angeles, CAMSA
Volume: 562Mix: 9.09%of portfolio
Place
Exceptional5
Chicago, ILMSA
Volume: 453Mix: 7.33%of portfolio
Place
Strong6
Anaheim, CAMSA
Volume: 190Mix: 3.07%of portfolio
Place
Strong7
San Rafael, CA, CAMSA
Volume: 51Mix: 0.83%of portfolio
Place
Strong8
Milwaukee, WIMSA
Volume: 160Mix: 2.59%of portfolio
Place
Strong9
Denver, COMSA
Volume: 203Mix: 3.28%of portfolio
Place
Strong10
Phoenix, AZMSA
Volume: 239Mix: 3.87%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
CAState
Volume: 2,800Mix: 45.30%of portfolio
Place
Exceptional2
ILState
Volume: 582Mix: 9.42%of portfolio
Place
Strong3
WIState
Volume: 378Mix: 6.12%of portfolio
Place
Strong4
AZState
Volume: 308Mix: 4.98%of portfolio
Place
Strong5
COState
Volume: 286Mix: 4.63%of portfolio
Place
Strong6
WAState
Volume: 206Mix: 3.33%of portfolio
Place
Strong7
ORState
Volume: 100Mix: 1.62%of portfolio
Place
Strong8
KSState
Volume: 67Mix: 1.08%of portfolio
Place
Sound9
NVState
Volume: 72Mix: 1.16%of portfolio
Place
Sound10
TXState
Volume: 189Mix: 3.06%of portfolio
Place
SoundShowing 10 of 41 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.