New Day Financial
We analyzed every closed loan from New Day Financial — 6.2k loans across 40k 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
Exceptional
5/5
FHA · Conventional · VA
Place
Sound
3/5
National · 49 mkts
Summary
What They Do Well
- Nationwide availability with consistent service
Things to Think About
- Rates typically 118 basis points above market average
- Higher than average fees ($4,675)
- Pull through efficiency is below industry average
Explore another lender or local market
Report Card
New Day Financial performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+117.7 bps above market avg
Pull Through
Closing strength
Acceptable
Bottom 40% of lenders
By Loan Product· Specialization by type
Conventional
Mediocre
Bottom 20% of lenders
FHA
Sound
Top 60% of lenders
VA
Exceptional
Top 10% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Sound
Top 60% of lenders
Refinance
Exceptional
Top 20% of lenders
By Location· Geographic coverage
Geographic Reach
National · 50 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 | — | 10 | 0.2% | +0.698%Above | $3,742Fees | |||
FHA Loans | 55 | 0.9% | +1.604%Above | $1,689Fees | ||||
VA Loans | 6,116 | 98.9% | +1.167%Above | $4,774Fees |
Conventional
OverallMediocre
ProductMediocre
Pricing—
Pull ThroughMediocre
Volume10
Mix0.2%
Spread
+0.698%Above
Fees
$3,742Fees
FHA Loans
OverallAcceptable
ProductSound
PricingAcceptable
Pull ThroughMediocre
Volume55
Mix0.9%
Spread
+1.604%Above
Fees
$1,689Fees
VA Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughSound
Volume6,116
Mix98.9%
Spread
+1.167%Above
Fees
$4,774Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 405 | 6.6% | +0.463%Above | $2,912Fees | ||||
Refinance | 5,776 | 93.4% | +1.340%Above | $5,077Fees |
Purchase
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume405
Mix6.6%
Spread
+0.463%Above
Fees
$2,912Fees
Refinance
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughSound
Volume5,776
Mix93.4%
Spread
+1.340%Above
Fees
$5,077Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
6,181
Applications
39,981
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+1.177%
vs. market APOR
Avg Net Fees
$4,675
Origination − Credits
Pullthrough Rate
15.5%
Applications → Closed
Typical Borrower
Avg Loan Amount
$270,166
Avg Borrower Income
$93,220
Avg Property Value
$320,001
Geographic Coverage
Geographic Performance
Metro Areas
49
markets with activity
States Served
44
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
44Northeast5
CTMENHNJPA
Midwest11
IAILINKSMIMNMONEOHSDWI
South16
ALARDCDEFLGAKYLAMDMSNCOKSCTNTXVA
West12
AKAZCACOHIIDMTNMNVORWAWY
Top Metro Areas by Place Specialization Score
Volume 76Mix 1.23% of portfolio
67/100
Strong
Volume 55Mix 0.89% of portfolio
64/100
Strong
Volume 80Mix 1.29% of portfolio
63/100
Strong
Volume 80Mix 1.29% of portfolio
62/100
Strong
Volume 45Mix 0.73% of portfolio
62/100
Strong
Volume 85Mix 1.38% of portfolio
61/100
Strong
Volume 74Mix 1.20% of portfolio
61/100
Strong
Volume 103Mix 1.67% of portfolio
61/100
Strong
Volume 75Mix 1.21% of portfolio
60/100
Strong
Volume 77Mix 1.25% of portfolio
60/100
SoundShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
AlabamaState
Volume 271Mix 4.38% of portfolio
74/100
Strong2
South CarolinaState
Volume 282Mix 4.56% of portfolio
73/100
Strong3
GeorgiaState
Volume 406Mix 6.57% of portfolio
72/100
Strong4
FloridaState
Volume 604Mix 9.77% of portfolio
71/100
Strong5
North CarolinaState
Volume 418Mix 6.76% of portfolio
70/100
Strong6
OhioState
Volume 361Mix 5.84% of portfolio
70/100
Strong7
PennsylvaniaState
Volume 293Mix 4.74% of portfolio
69/100
Strong8
VirginiaState
Volume 238Mix 3.85% of portfolio
69/100
Strong9
TennesseeState
Volume 240Mix 3.88% of portfolio
69/100
Strong10
IndianaState
Volume 241Mix 3.90% of portfolio
67/100
StrongShowing 10 of 41 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.