New Wave Lending Group
We analyzed every closed loan from New Wave Lending Group — 2.9k loans across 4k 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
Strong
4/5
closing strength
Product
Exceptional
5/5
FHA · Conventional · Jumbo
Place
Sound
3/5
Multi-Region · 33 mkts
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and Jumbo loans
Things to Think About
- Rates typically 76 basis points above market average
Explore another lender or local market
Report Card
New Wave Lending Group performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+75.7 bps above market avg
Pull Through
Closing strength
Strong
Top 40% of lenders
By Loan Product· Specialization by type
Conventional
Strong
Top 40% of lenders
FHA
Sound
Top 60% of lenders
Jumbo
Exceptional
Top 20% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Strong
Top 40% of lenders
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 34 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 | 2,695 | 91.7% | +0.739%Above | $3,866Fees | ||||
FHA Loans | 41 | 1.4% | +0.504%Above | $4,354Fees | ||||
Jumbo Loans | 194 | 6.6% | +1.259%Above | $2,979Fees |
Conventional
OverallSound
ProductStrong
PricingMediocre
Pull ThroughStrong
Volume2,695
Mix91.7%
Spread
+0.739%Above
Fees
$3,866Fees
FHA Loans
OverallSound
ProductSound
PricingAcceptable
Pull ThroughSound
Volume41
Mix1.4%
Spread
+0.504%Above
Fees
$4,354Fees
Jumbo Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume194
Mix6.6%
Spread
+1.259%Above
Fees
$2,979Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 2,417 | 82.3% | +0.765%Above | $4,077Fees | ||||
Refinance | 521 | 17.7% | +0.717%Above | $2,709Fees |
Purchase
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume2,417
Mix82.3%
Spread
+0.765%Above
Fees
$4,077Fees
Refinance
OverallSound
ProductStrong
PricingAcceptable
Pull ThroughStrong
Volume521
Mix17.7%
Spread
+0.717%Above
Fees
$2,709Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
2,938
Applications
4,162
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.757%
vs. market APOR
Avg Net Fees
$3,838
Origination − Credits
Pullthrough Rate
70.6%
Applications → Closed
Typical Borrower
Avg Loan Amount
$569,687
Avg Borrower Income
$269,984
Avg Property Value
$864,561
Geographic Coverage
Geographic Performance
Metro Areas
33
markets with activity
States Served
23
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
23Northeast3
CTNJPA
Midwest3
ILMIOH
South9
DCFLGAMDNCSCTNTXVA
West8
AZCACOHINVORUTWA
Top Metro Areas by Place Specialization Score
Volume 777Mix 26.45% of portfolio
88/100
Exceptional
Volume 333Mix 11.33% of portfolio
84/100
Exceptional
Volume 257Mix 8.75% of portfolio
74/100
Strong
Volume 137Mix 4.66% of portfolio
73/100
Strong
Volume 112Mix 3.81% of portfolio
68/100
Strong
Volume 146Mix 4.97% of portfolio
67/100
Strong
Volume 51Mix 1.74% of portfolio
64/100
Strong
Volume 54Mix 1.84% of portfolio
61/100
Strong
Volume 76Mix 2.59% of portfolio
58/100
Sound
Volume 55Mix 1.87% of portfolio
57/100
SoundShowing 10 of 33 metro areas
Top States by Place Specialization Score
1
CaliforniaState
Volume 1,878Mix 63.92% of portfolio
84/100
Exceptional2
NevadaState
Volume 127Mix 4.32% of portfolio
68/100
Strong3
GeorgiaState
Volume 200Mix 6.81% of portfolio
66/100
Strong4
TexasState
Volume 247Mix 8.41% of portfolio
64/100
Strong5
FloridaState
Volume 134Mix 4.56% of portfolio
56/100
Sound6
IllinoisState
Volume 71Mix 2.42% of portfolio
55/100
Sound7
VirginiaState
Volume 53Mix 1.80% of portfolio
53/100
Sound8
MarylandState
Volume 37Mix 1.26% of portfolio
50/100
Sound9
New JerseyState
Volume 32Mix 1.09% of portfolio
48/100
Sound10
North CarolinaState
Volume 39Mix 1.33% of portfolio
47/100
SoundShowing 10 of 16 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.