We analyzed every closed loan from Milend — 1.4k loans across 5k 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
Acceptable
2/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA
Place
Sound
3/5
Multi-Region · 28 mkts
Summary
What They Do Well
- Particularly strong in FHA and VA loans
Things to Think About
- Pricing may be below industry average
- Higher than average fees ($5,077)
- Pull through efficiency is below industry average
Explore another lender or local market
Report Card
Milend performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+47.5 bps above market avg
Pull Through
Closing strength
Acceptable
Bottom 40% of lenders
By Loan Product· Specialization by type
Conventional
Sound
Top 60% of lenders
FHA
Strong
Top 40% of lenders
VA
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Acceptable
Bottom 40% of lenders
Refinance
Strong
Top 40% of lenders
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 29 markets
Sound
Top 60% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 331 | 23.6% | +0.382%Above | $4,372Fees | ||||
FHA Loans | 890 | 63.6% | +0.563%Above | $5,229Fees | ||||
VA Loans | 176 | 12.6% | +0.146%Above | $6,701Fees |
Conventional
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume331
Mix23.6%
Spread
+0.382%Above
Fees
$4,372Fees
FHA Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume890
Mix63.6%
Spread
+0.563%Above
Fees
$5,229Fees
VA Loans
OverallAcceptable
ProductStrong
PricingMediocre
Pull ThroughSound
Volume176
Mix12.6%
Spread
+0.146%Above
Fees
$6,701Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 128 | 9.1% | +0.396%Above | $3,952Fees | ||||
Refinance | 1,272 | 90.9% | +0.501%Above | $5,444Fees |
Purchase
OverallAcceptable
ProductAcceptable
PricingAcceptable
Pull ThroughAcceptable
Volume128
Mix9.1%
Spread
+0.396%Above
Fees
$3,952Fees
Refinance
OverallAcceptable
ProductStrong
PricingMediocre
Pull ThroughAcceptable
Volume1,272
Mix90.9%
Spread
+0.501%Above
Fees
$5,444Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,400
Applications
4,720
Volume
$383 million
Pricing & Closing
Avg Rate Spread
+0.475%
vs. market APOR
Avg Net Fees
$5,077
Origination − Credits
Pullthrough Rate
29.7%
Applications → Closed
Typical Borrower
Avg Loan Amount
$273,814
Avg Borrower Income
$99,386
Avg Property Value
$371,779
Geographic Coverage
Geographic Performance
Metro Areas
28
markets with activity
States Served
14
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
14Northeast2
MAPA
Midwest4
INMIMNOH
South8
ALFLGAMDNCSCTNVA
Top Metro Areas by Place Specialization Score
Volume 258Mix 18.43% of portfolio
77/100
Strong
Volume 92Mix 6.57% of portfolio
71/100
Strong
Volume 48Mix 3.43% of portfolio
58/100
Sound
Volume 40Mix 2.86% of portfolio
56/100
Sound
Volume 34Mix 2.43% of portfolio
56/100
Sound
Volume 27Mix 1.93% of portfolio
54/100
Sound
Volume 23Mix 1.64% of portfolio
50/100
Sound
Volume 22Mix 1.57% of portfolio
49/100
Sound
Volume 17Mix 1.21% of portfolio
49/100
Sound
Volume 23Mix 1.64% of portfolio
49/100
SoundShowing 10 of 28 metro areas
Top States by Place Specialization Score
1
GeorgiaState
Volume 476Mix 34.00% of portfolio
79/100
Strong2
VirginiaState
Volume 137Mix 9.79% of portfolio
67/100
Strong3
AlabamaState
Volume 95Mix 6.79% of portfolio
65/100
Strong4
North CarolinaState
Volume 153Mix 10.93% of portfolio
63/100
Strong5
TennesseeState
Volume 104Mix 7.43% of portfolio
63/100
Strong6
PennsylvaniaState
Volume 96Mix 6.86% of portfolio
60/100
Strong7
FloridaState
Volume 126Mix 9.00% of portfolio
58/100
Sound8
South CarolinaState
Volume 48Mix 3.43% of portfolio
55/100
Sound9
OhioState
Volume 54Mix 3.86% of portfolio
53/100
Sound10
MassachusettsState
Volume 33Mix 2.36% of portfolio
50/100
SoundShowing 10 of 14 states
How We Rank Lenders
Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.
Our Point System (Max 30 Points)
10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
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 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.