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CANOPY MORTGAGE, LLC
Independent Mortgage Company|LEHI, UT|National
Loans Originated
5,941
Applications
9,351
Volume
$2 billion
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Acceptable
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.325%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,270
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
63.5%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Pricing may be below industry average
- Higher than average fees ($4,270)
Report Card
CANOPY MORTGAGE, LLC performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Acceptable | Near industry average | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Exceptional | Market Leader | |
FHA | Exceptional | Market Leader | |
VA | Exceptional | Market Leader | |
Jumbo | Sound | Industry Standard | |
USDA | Exceptional | Market Leader | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | National · 50 metro areas · 46 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$359,999
Average Borrower Income
$132,365
Average Property Value
$439,055
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Exceptional | Acceptable | Sound | 3,131 | 52.7% | +0.297% | $3,977 |
FHA Loans | Sound | Exceptional | Acceptable | Strong | 1,823 | 30.7% | +0.597% | $4,667 |
VA Loans | Sound | Exceptional | Mediocre | Strong | 844 | 14.2% | -0.227% | $4,966 |
Jumbo Loans | Acceptable | Sound | Sound | Mediocre | 45 | 0.8% | +0.306% | $2,282 |
USDA Loans | Sound | Exceptional | Acceptable | Strong | 98 | 1.6% | +0.300% | $3,380 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Exceptional | Acceptable | Strong | 5,423 | 91.3% | +0.334% | $4,374 |
Refinance | Sound | Strong | Acceptable | Sound | 518 | 8.7% | +0.244% | $3,383 |
Geographic Coverage
Metro Areas
49
States Served
46
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Columbus, GA, GA-ALMSA
Volume: 312Mix: 5.25%
Place Specialization
Exceptional
2
Auburn, ALMSA
Volume: 160Mix: 2.69%
Place Specialization
Exceptional
3
Huntsville, AL, ALMSA
Volume: 272Mix: 4.58%
Place Specialization
Exceptional
4
Spokane, WAMSA
Volume: 206Mix: 3.47%
Place Specialization
Exceptional
5
Idaho Falls, ID, IDMSA
Volume: 134Mix: 2.26%
Place Specialization
Exceptional
6
Beaumont, TXMSA
Volume: 106Mix: 1.78%
Place Specialization
Exceptional
7
Atlanta, GAMSA
Volume: 471Mix: 7.93%
Place Specialization
Strong
8
Birmingham, AL, ALMSA
Volume: 164Mix: 2.76%
Place Specialization
Strong
9
Marietta, GA, GAMSA
Volume: 211Mix: 3.55%
Place Specialization
Strong
10
Tacoma, WAMSA
Volume: 131Mix: 2.21%
Place Specialization
Strong
Showing 10 of 49 metro areas
Top States by Place Specialization Score
1
ALState
Volume: 894Mix: 15.05%
Place Specialization
Exceptional
2
GAState
Volume: 1,308Mix: 22.02%
Place Specialization
Exceptional
3
WAState
Volume: 647Mix: 10.89%
Place Specialization
Exceptional
4
UTState
Volume: 418Mix: 7.04%
Place Specialization
Strong
5
NVState
Volume: 211Mix: 3.55%
Place Specialization
Strong
6
IDState
Volume: 273Mix: 4.60%
Place Specialization
Strong
7
TXState
Volume: 512Mix: 8.62%
Place Specialization
Strong
8
ORState
Volume: 188Mix: 3.16%
Place Specialization
Strong
9
FLState
Volume: 355Mix: 5.98%
Place Specialization
Strong
10
TNState
Volume: 176Mix: 2.96%
Place Specialization
Strong
Showing 10 of 26 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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