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We analyzed every closed loan from Nj Lenders — 3.1k loans across 4k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Strong
vs. all lenders
Pull Through
Strong
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo
Place
Sound
Multi-Region · 19 mkts
Safe Rate Awards⭐Conventional Superstar⭐FHA Superstar⭐VA Superstar⭐Jumbo Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo loans
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Report Card
Nj Lenders Corp. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Highly Competitive +4.4 bps above market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
Jumbo | Highly Competitive Top 40% 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 | Industry Standard Top 60% of lenders Multi-Regional20 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,571 | 84.2% | +0.004%Above | $1,955Fees | ||||
FHA Loans | 355 | 11.6% | +0.432%Above | $2,543Fees | ||||
VA Loans | 58 | 1.9% | -0.350%Below | $493Fees | ||||
Jumbo Loans | 61 | 2.0% | +0.003%Above | $606Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 2,711 | 88.8% | +0.045%Above | $1,973Fees | ||||
Refinance | 342 | 11.2% | +0.032%Above | $1,925Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
3,053
Applications
4,025
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.044%
vs. market APOR
Avg Net Fees
$1,968
Origination − Credits
Pullthrough Rate
75.9%
Applications → Closed
Typical Borrower
Avg Loan Amount
$485,079
Avg Borrower Income
$199,593
Avg Property Value
$662,553
Geographic Coverage
Geographic Performance
Metro Areas
19
States Served
22
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALCACOCTDCDEFLGAMAMDNCNHNJNYOHPARISCTNTXVAWA
Top Metro Areas by Place Specialization Score
1
Newark, NJ, NJMSA
Volume: 798Mix: 26.14%of portfolio
Place
Exceptional2
Lakewood, NJMSA
Volume: 502Mix: 16.44%of portfolio
Place
Exceptional3
New York, NY-NJMSA
Volume: 875Mix: 28.66%of portfolio
Place
Exceptional4
Nassau County, NYMSA
Volume: 151Mix: 4.95%of portfolio
Place
Strong5
Camden, NJ, NJMSA
Volume: 96Mix: 3.14%of portfolio
Place
Strong6
Rome, GA, GAMSA
Volume: 27Mix: 0.88%of portfolio
Place
Strong7
Montgomery County, PAMSA
Volume: 59Mix: 1.93%of portfolio
Place
Strong8
Trenton, NJMSA
Volume: 32Mix: 1.05%of portfolio
Place
Strong9
Tampa, FL, FLMSA
Volume: 76Mix: 2.49%of portfolio
Place
Strong10
Allentown, PA-NJMSA
Volume: 33Mix: 1.08%of portfolio
Place
SoundShowing 10 of 19 metro areas
Top States by Place Specialization Score
1
NJState
Volume: 2,180Mix: 71.41%of portfolio
Place
Exceptional2
NYState
Volume: 365Mix: 11.96%of portfolio
Place
Strong3
PAState
Volume: 137Mix: 4.49%of portfolio
Place
Strong4
FLState
Volume: 173Mix: 5.67%of portfolio
Place
Sound5
GAState
Volume: 70Mix: 2.29%of portfolio
Place
Sound6
CTState
Volume: 17Mix: 0.56%of portfolio
Place
Sound7
NCState
Volume: 17Mix: 0.56%of portfolio
Place
Acceptable8
MAState
Volume: 12Mix: 0.39%of portfolio
Place
Acceptable9
SCState
Volume: 13Mix: 0.43%of portfolio
Place
Acceptable10
CAState
Volume: 12Mix: 0.39%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.