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We analyzed every closed loan from Loan Simple — 1.1k loans across 2k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Mediocre
vs. all lenders
Pull Through
Sound
closing strength
Products
Strong
FHA · Conventional · VA · USDA
Place
Sound
Multi-Region · 19 mkts
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Safe Rate's Summary
Things to Think About
- Rates typically 80 basis points above market average
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Report Card
Loan Simple, Inc. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Below peers +80.2 bps above market avg | |
Pull Through Closing strength | Industry Standard Top 60% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Industry Standard Top 60% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Near industry average Bottom 40% of lenders | |
USDA | Industry Standard Top 60% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Near industry average Bottom 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders Multi-Regional20 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 306 | 28.6% | +0.756%Above | $4,944Fees | ||||
FHA Loans | 714 | 66.7% | +0.843%Above | $3,212Fees | ||||
VA Loans | — | 16 | 1.5% | +0.033%Above | $2,056Fees | |||
USDA Loans | — | 34 | 3.2% | +0.780%Above | $4,270Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,045 | 97.7% | +0.953%Above | $5,315Fees | ||||
Refinance | 25 | 2.3% | +0.149%Above | $3,437Credit |
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,070
Applications
1,738
Volume
$349 million
Pricing & Closing
Avg Rate Spread
+0.802%
vs. market APOR
Avg Net Fees
$3,669
Origination − Credits
Pullthrough Rate
61.6%
Applications → Closed
Typical Borrower
Avg Loan Amount
$326,822
Avg Borrower Income
$106,649
Avg Property Value
$373,746
Geographic Coverage
Geographic Performance
Metro Areas
19
States Served
17
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Denver, COMSA
Volume: 273Mix: 25.51%of portfolio
Place
Strong2
Greeley, CO, COMSA
Volume: 55Mix: 5.14%of portfolio
Place
Strong3
Colorado Springs, CO, COMSA
Volume: 51Mix: 4.77%of portfolio
Place
Strong4
Grand Junction, CO, COMSA
Volume: 18Mix: 1.68%of portfolio
Place
Sound5
Atlanta, GAMSA
Volume: 35Mix: 3.27%of portfolio
Place
Sound6
Phoenix, AZMSA
Volume: 27Mix: 2.52%of portfolio
Place
Sound7
Prescott Valley, AZMSA
Volume: 13Mix: 1.21%of portfolio
Place
Sound8
Dallas, TXMSA
Volume: 24Mix: 2.24%of portfolio
Place
Sound9
Houston, TXMSA
Volume: 25Mix: 2.34%of portfolio
Place
Sound10
Albuquerque, NM, NMMSA
Volume: 15Mix: 1.40%of portfolio
Place
SoundShowing 10 of 19 metro areas
Top States by Place Specialization Score
1
COState
Volume: 470Mix: 43.93%of portfolio
Place
Exceptional2
TXState
Volume: 114Mix: 10.65%of portfolio
Place
Sound3
GAState
Volume: 74Mix: 6.92%of portfolio
Place
Sound4
VAState
Volume: 48Mix: 4.49%of portfolio
Place
Sound5
NMState
Volume: 32Mix: 2.99%of portfolio
Place
Sound6
AZState
Volume: 45Mix: 4.21%of portfolio
Place
Sound7
ORState
Volume: 33Mix: 3.08%of portfolio
Place
Sound8
NCState
Volume: 50Mix: 4.67%of portfolio
Place
Sound9
FLState
Volume: 63Mix: 5.89%of portfolio
Place
Sound10
MNState
Volume: 31Mix: 2.90%of portfolio
Place
SoundShowing 10 of 14 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.