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We analyzed every closed loan from Cake Mortgage — 715 loans across 2k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Mediocre
1/5
vs. all lenders
Pull-through
Sound
3/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · Jumbo
Place
Sound
3/5
Near-National · 10 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Summary
What They Do Well
- Nationwide availability with consistent service
Things to Think About
- Rates typically 100 basis points above market average
- Higher than average fees ($4,201)
Explore another lender or local market
Report Card
Cake Mortgage performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+99.7 bps above market avg
1/5
Pull Through
Closing strength
Sound
Top 60% of lenders
3/5
By Loan Product· Specialization by type
Conventional
487 loans · 1.12% above market
Sound
Top 60% of lenders
3/5
FHA
76 loans · 0.55% above market
Sound
Top 60% of lenders
3/5
VA
22 loans · 0.34% above market
Sound
Top 60% of lenders
3/5
Jumbo
130 loans · 1.20% above market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
434 loans · 0.99% above market
Sound
Top 60% of lenders
3/5
Refinance
281 loans · 1.02% above market
Strong
Top 40% of lenders
4/5
By Location· Geographic coverage
Geographic Reach
Near-National · 11 markets
Sound
Top 60% of lenders
3/5
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 487 | 68.1% | +1.124%Above | $4,549Fees | ||||
FHA Loans | 76 | 10.6% | +0.547%Above | $4,043Fees | ||||
VA Loans | — | 22 | 3.1% | +0.336%Above | $3,248Fees | |||
Jumbo Loans | 130 | 18.2% | +1.195%Above | $3,043Fees |
Conventional
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume487
Mix68.1%
Spread
+1.124%Above
Fees
$4,549Fees
FHA Loans
OverallSound
ProductSound
PricingAcceptable
Pull ThroughAcceptable
Volume76
Mix10.6%
Spread
+0.547%Above
Fees
$4,043Fees
VA Loans
OverallAcceptable
ProductSound
Pricing—
Pull ThroughMediocre
Volume22
Mix3.1%
Spread
+0.336%Above
Fees
$3,248Fees
Jumbo Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume130
Mix18.2%
Spread
+1.195%Above
Fees
$3,043Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 434 | 60.7% | +0.988%Above | $4,102Fees | ||||
Refinance | 281 | 39.3% | +1.017%Above | $4,434Fees |
Purchase
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume434
Mix60.7%
Spread
+0.988%Above
Fees
$4,102Fees
Refinance
OverallAcceptable
ProductStrong
PricingMediocre
Pull ThroughAcceptable
Volume281
Mix39.3%
Spread
+1.017%Above
Fees
$4,434Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
715
Applications
1,606
Volume
$475 million
Pricing & Closing
Avg Rate Spread
+0.997%
vs. market APOR
Avg Net Fees
$4,201
Origination − Credits
Pullthrough Rate
44.5%
Applications → Closed
Typical Borrower
Avg Loan Amount
$665,350
Avg Borrower Income
$431,315
Avg Property Value
$1,087,783
Geographic Coverage
Geographic Performance
Metro Areas
10
markets with activity
States Served
35
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
35Full-year 2024 · HMDALoans originated
< 1010–2020+None
Northeast6
CTMANHNJPARI
Midwest7
ILINKSMIMONDOH
South12
ALFLGALAMDNCOKSCTNTXVAWV
West10
AZCACOIDMTNMNVORUTWA
Top States by Place Specialization Score
Showing 10 of 11 states
How We Rank Lenders
Our rankings use an equal-weight average of scores across the 5 Ps: Pricing, Product, Pull-Through, Place, and Promptness. Promptness measures how quickly a lender answers real shopper quote requests; a lender with none measured yet is counted at an estimate.
Our Point System (Max 50 Points)
10/ 50 pts
Pricing
How competitively a lender prices vs. the market benchmark (20%).
10/ 50 pts
Product
Performance on your specific loan type (20%).
10/ 50 pts
Pull Through
How reliably a lender closes the loans it starts (20%).
10/ 50 pts
Place
Depth of a lender's expertise in your local market (20%).
10/ 50 pts
Promptness
How quickly a lender answers real quote requests — blended in once they respond (20%).
Champion(80%+ = 40-50 points)
Superstar(60-79% = 30-39 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary Safe Rate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
Looking for a different lender?
The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
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.