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We analyzed every closed loan from First Colony Mortgage — 6.7k loans across 9k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Sound
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Strong
National · 49 mkts
Safe Rate Awards💎VA Champion⭐FHA Superstar⭐USDA Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
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Report Card
First Colony Mortgage Corporation performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Industry Standard +20.9 bps above market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Market Leader Top 20% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
USDA | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Market Leader Top 20% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 4,396 | 65.8% | +0.228%Above | $3,083Fees | ||||
FHA Loans | 1,564 | 23.4% | +0.355%Above | $2,896Fees | ||||
VA Loans | 542 | 8.1% | -0.463%Below | $1,969Fees | ||||
Jumbo Loans | 72 | 1.1% | +0.538%Above | $3,304Fees | ||||
USDA Loans | 106 | 1.6% | +0.144%Above | $2,403Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 5,760 | 86.2% | +0.221%Above | $3,120Fees | ||||
Refinance | 920 | 13.8% | +0.147%Above | $2,175Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
6,680
Applications
8,876
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.209%
vs. market APOR
Avg Net Fees
$2,964
Origination − Credits
Pullthrough Rate
75.3%
Applications → Closed
Typical Borrower
Avg Loan Amount
$401,079
Avg Borrower Income
$149,671
Avg Property Value
$513,355
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
45
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALARAZCACOCTDEFLGAIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNHNJNMNVNYOHOKORPARISCTNTXUTVAWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Provo, UTMSA
Volume: 1,031Mix: 15.43%of portfolio
Place
Exceptional2
Logan, UT, UT-IDMSA
Volume: 212Mix: 3.17%of portfolio
Place
Exceptional3
Green Bay, WI, WIMSA
Volume: 204Mix: 3.05%of portfolio
Place
Exceptional4
Salt Lake City, UTMSA
Volume: 604Mix: 9.04%of portfolio
Place
Exceptional5
St. George, UT, UTMSA
Volume: 173Mix: 2.59%of portfolio
Place
Exceptional6
Ogden, UT, UTMSA
Volume: 221Mix: 3.31%of portfolio
Place
Exceptional7
Huntsville, AL, ALMSA
Volume: 190Mix: 2.84%of portfolio
Place
Exceptional8
Pocatello, ID, IDMSA
Volume: 98Mix: 1.47%of portfolio
Place
Exceptional9
Milwaukee, WIMSA
Volume: 306Mix: 4.58%of portfolio
Place
Strong10
Idaho Falls, ID, IDMSA
Volume: 79Mix: 1.18%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
UTState
Volume: 2,357Mix: 35.28%of portfolio
Place
Exceptional2
WIState
Volume: 815Mix: 12.20%of portfolio
Place
Exceptional3
ALState
Volume: 322Mix: 4.82%of portfolio
Place
Strong4
IDState
Volume: 362Mix: 5.42%of portfolio
Place
Strong5
CAState
Volume: 598Mix: 8.95%of portfolio
Place
Strong6
PAState
Volume: 233Mix: 3.49%of portfolio
Place
Strong7
MSState
Volume: 135Mix: 2.02%of portfolio
Place
Strong8
TNState
Volume: 195Mix: 2.92%of portfolio
Place
Strong9
GAState
Volume: 231Mix: 3.46%of portfolio
Place
Strong10
NJState
Volume: 166Mix: 2.49%of portfolio
Place
StrongShowing 10 of 31 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.