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We analyzed every closed loan from Nexbank — 5.2k loans across 7k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Sound
vs. all lenders
Pull Through
Strong
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo
Place
Sound
National · 49 mkts
Safe Rate Awards⭐Conventional Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and Jumbo loans
- Nationwide availability with consistent service
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Report Card
NexBank performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Industry Standard +34.3 bps above market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Industry Standard Top 60% of lenders | |
VA | Near industry average Bottom 40% of lenders | |
Jumbo | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 4,889 | 93.6% | +0.336%Above | $2,248Fees | ||||
FHA Loans | 44 | 0.8% | +0.570%Above | $3,204Fees | ||||
VA Loans | — | 16 | 0.3% | -0.389%Below | $114Fees | |||
Jumbo Loans | 274 | 5.2% | +0.488%Above | $524Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 4,406 | 84.4% | +0.347%Above | $2,371Fees | ||||
Refinance | 817 | 15.6% | +0.318%Above | $1,112Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
5,223
Applications
6,872
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.343%
vs. market APOR
Avg Net Fees
$2,179
Origination − Credits
Pullthrough Rate
76.0%
Applications → Closed
Typical Borrower
Avg Loan Amount
$412,609
Avg Borrower Income
$202,011
Avg Property Value
$554,115
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
50
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Dallas, TXMSA
Volume: 403Mix: 7.72%of portfolio
Place
Strong2
Austin, TXMSA
Volume: 182Mix: 3.48%of portfolio
Place
Strong3
Atlanta, GAMSA
Volume: 275Mix: 5.27%of portfolio
Place
Strong4
Savannah, GA, GAMSA
Volume: 82Mix: 1.57%of portfolio
Place
Strong5
Marietta, GA, GAMSA
Volume: 128Mix: 2.45%of portfolio
Place
Strong6
Chicago, ILMSA
Volume: 243Mix: 4.65%of portfolio
Place
Strong7
Fort Worth, TXMSA
Volume: 135Mix: 2.58%of portfolio
Place
Strong8
Houston, TXMSA
Volume: 209Mix: 4.00%of portfolio
Place
Strong9
Minneapolis, MN-WIMSA
Volume: 188Mix: 3.60%of portfolio
Place
Strong10
Milwaukee, WIMSA
Volume: 91Mix: 1.74%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
TXState
Volume: 1,150Mix: 22.02%of portfolio
Place
Strong2
GAState
Volume: 563Mix: 10.78%of portfolio
Place
Strong3
CAState
Volume: 602Mix: 11.53%of portfolio
Place
Strong4
ILState
Volume: 280Mix: 5.36%of portfolio
Place
Strong5
MNState
Volume: 222Mix: 4.25%of portfolio
Place
Strong6
WIState
Volume: 191Mix: 3.66%of portfolio
Place
Strong7
WAState
Volume: 165Mix: 3.16%of portfolio
Place
Strong8
AZState
Volume: 181Mix: 3.47%of portfolio
Place
Strong9
TNState
Volume: 162Mix: 3.10%of portfolio
Place
Strong10
VAState
Volume: 148Mix: 2.83%of portfolio
Place
StrongShowing 10 of 34 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.