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Mortgage 1 Incorporated
Independent Mortgage Company•STERLING HEIGHTS, MI•Direct to Consumer
We analyzed every closed loan from Mortgage 1 Incorporated — 3.5k loans across 4k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Acceptable
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · USDA
Place
Strong
Multi-Region · 15 mkts
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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 USDA loans
Things to Think About
- Rates typically 55 basis points above market average
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Report Card
Mortgage 1 Incorporated performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Near industry average +54.8 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 | 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-Regional16 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,568 | 74.1% | +0.505%Above | $2,528Fees | ||||
FHA Loans | 695 | 20.1% | +0.909%Above | $3,808Fees | ||||
VA Loans | 150 | 4.3% | +0.010%Above | $2,881Fees | ||||
USDA Loans | — | 47 | 1.4% | +0.530%Above | $3,139Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 3,078 | 88.8% | +0.554%Above | $2,760Fees | ||||
Refinance | 387 | 11.2% | +0.511%Above | $2,557Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
3,465
Applications
4,483
Volume
$819 million
Pricing & Closing
Avg Rate Spread
+0.548%
vs. market APOR
Avg Net Fees
$2,732
Origination − Credits
Pullthrough Rate
77.3%
Applications → Closed
Typical Borrower
Avg Loan Amount
$236,405
Avg Borrower Income
$106,453
Avg Property Value
$291,531
Geographic Coverage
Geographic Performance
Metro Areas
15
States Served
9
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
CAFLILINKYMIMTOHTX
Top Metro Areas by Place Specialization Score
1
Muskegon, MIMSA
Volume: 265Mix: 7.65%of portfolio
Place
Exceptional2
Warren, MIMSA
Volume: 1,181Mix: 34.08%of portfolio
Place
Exceptional3
Detroit, MIMSA
Volume: 448Mix: 12.93%of portfolio
Place
Exceptional4
Jackson, MI, MIMSA
Volume: 80Mix: 2.31%of portfolio
Place
Exceptional5
Ann Arbor, MI, MIMSA
Volume: 106Mix: 3.06%of portfolio
Place
Exceptional6
Grand Rapids, MIMSA
Volume: 356Mix: 10.27%of portfolio
Place
Strong7
Monroe, MI, MIMSA
Volume: 65Mix: 1.88%of portfolio
Place
Strong8
Cape Coral, FLMSA
Volume: 166Mix: 4.79%of portfolio
Place
Strong9
Flint, MI, MIMSA
Volume: 95Mix: 2.74%of portfolio
Place
Strong10
Saginaw, MI, MIMSA
Volume: 35Mix: 1.01%of portfolio
Place
StrongShowing 10 of 15 metro areas
Top States by Place Specialization Score
1
MIState
Volume: 3,179Mix: 91.75%of portfolio
Place
Exceptional2
FLState
Volume: 224Mix: 6.46%of portfolio
Place
Strong3
MTState
Volume: 18Mix: 0.52%of portfolio
Place
Sound4
OHState
Volume: 22Mix: 0.63%of portfolio
Place
Sound5
CAState
Volume: 10Mix: 0.29%of portfolio
Place
AcceptableHow 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.