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Iowa Bankers Mortgage Corporation
Independent Mortgage Company•JOHNSTON, IA•Direct to Consumer
We analyzed every closed loan from Iowa Bankers Mortgage — 2.3k loans across 3k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Exceptional
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · USDA
Place
Strong
Multi-Region · 11 mkts
Safe Rate Awards💎Conventional Champion💎Purchase Champion⭐VA Superstar⭐USDA Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Offers rates 4.90 basis points below market average
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and USDA loans
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Report Card
Iowa Bankers Mortgage Corporation performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Market Leader Rates 4.9 bps below 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 | Highly Competitive Top 40% of lenders | |
VA | 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 | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders Multi-Regional12 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,101 | 90.9% | -0.071%Below | $1,305Fees | ||||
FHA Loans | 58 | 2.5% | +0.808%Above | $1,401Fees | ||||
VA Loans | 52 | 2.2% | -0.273%Below | $159Fees | ||||
USDA Loans | 101 | 4.4% | +0.288%Above | $1,017Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 2,053 | 88.8% | -0.049%Below | $1,310Fees | ||||
Refinance | 259 | 11.2% | -0.049%Below | $1,012Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
2,312
Applications
2,899
Volume
$517 million
Pricing & Closing
Avg Rate Spread
-0.049%
vs. market APOR
Avg Net Fees
$1,276
Origination − Credits
Pullthrough Rate
79.8%
Applications → Closed
Typical Borrower
Avg Loan Amount
$224,040
Avg Borrower Income
$114,419
Avg Property Value
$306,644
Geographic Coverage
Geographic Performance
Metro Areas
11
States Served
10
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
AZCOIAILKSMNMONESDWI
Top Metro Areas by Place Specialization Score
1
Ames, IA, IAMSA
Volume: 219Mix: 9.47%of portfolio
Place
Exceptional2
Des Moines, IAMSA
Volume: 500Mix: 21.63%of portfolio
Place
Exceptional3
Sioux City, IAMSA
Volume: 131Mix: 5.67%of portfolio
Place
Exceptional4
Omaha, NE, NE-IAMSA
Volume: 96Mix: 4.15%of portfolio
Place
Strong5
Cedar Rapids, IA, IAMSA
Volume: 80Mix: 3.46%of portfolio
Place
Strong6
Waterloo, IAMSA
Volume: 53Mix: 2.29%of portfolio
Place
Strong7
Mankato, MN, MNMSA
Volume: 19Mix: 0.82%of portfolio
Place
Sound8
Dubuque, IA, IAMSA
Volume: 29Mix: 1.25%of portfolio
Place
Sound9
Iowa City, IA, IAMSA
Volume: 26Mix: 1.12%of portfolio
Place
Sound10
Sioux Falls, SD, SD-MNMSA
Volume: 26Mix: 1.12%of portfolio
Place
SoundShowing 10 of 11 metro areas
Top States by Place Specialization Score
1
IAState
Volume: 2,020Mix: 87.37%of portfolio
Place
Exceptional2
MNState
Volume: 159Mix: 6.88%of portfolio
Place
Strong3
SDState
Volume: 50Mix: 2.16%of portfolio
Place
Sound4
NEState
Volume: 48Mix: 2.08%of portfolio
Place
Sound5
WIState
Volume: 14Mix: 0.61%of portfolio
Place
SoundHow 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.