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We analyzed every closed loan from Oceanfirst Bank National Association — 1.3k loans across 2k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Exceptional
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Strong
FHA · Conventional · VA · Jumbo
Place
Sound
Near-National · 16 mkts
Safe Rate Awards💎Conventional Champion⭐FHA Superstar⭐Jumbo Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Offers rates 21.90 basis points below market average
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and FHA and Jumbo loans
- Nationwide availability with consistent service
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Report Card
OceanFirst Bank, National Association performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Market Leader Rates 21.9 bps below market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Industry Standard Top 60% of lenders | |
Jumbo | Highly Competitive Top 40% 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 Near-National17 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 1,208 | 89.7% | -0.236%Below | $279Credit | ||||
FHA Loans | 54 | 4.0% | +0.067%Above | $192Fees | ||||
VA Loans | 29 | 2.2% | -0.552%Below | $1,419Fees | ||||
Jumbo Loans | 55 | 4.1% | +0.220%Above | $1,412Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,193 | 88.6% | -0.260%Below | $309Credit | ||||
Refinance | 153 | 11.4% | +0.069%Above | $669Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,346
Applications
1,601
Volume
$570 million
Pricing & Closing
Avg Rate Spread
-0.219%
vs. market APOR
Avg Net Fees
$-186
Origination − Credits
Pullthrough Rate
84.1%
Applications → Closed
Typical Borrower
Avg Loan Amount
$424,086
Avg Borrower Income
$194,018
Avg Property Value
$609,584
Geographic Coverage
Geographic Performance
Metro Areas
16
States Served
26
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
ALCOCTDCDEFLGAKYMAMDMEMIMSNCNHNJNYOHORPASCSDTXVAVTWV
Top Metro Areas by Place Specialization Score
1
Lakewood, NJMSA
Volume: 465Mix: 34.55%of portfolio
Place
Exceptional2
Atlantic City, NJMSA
Volume: 201Mix: 14.93%of portfolio
Place
Exceptional3
Camden, NJ, NJMSA
Volume: 185Mix: 13.74%of portfolio
Place
Strong4
Philadelphia, PA, PAMSA
Volume: 91Mix: 6.76%of portfolio
Place
Strong5
Newark, NJ, NJMSA
Volume: 58Mix: 4.31%of portfolio
Place
Strong6
Montgomery County, PAMSA
Volume: 51Mix: 3.79%of portfolio
Place
Strong7
Trenton, NJMSA
Volume: 23Mix: 1.71%of portfolio
Place
Sound8
Vineland, NJ, NJMSA
Volume: 22Mix: 1.63%of portfolio
Place
Sound9
New York, NY-NJMSA
Volume: 40Mix: 2.97%of portfolio
Place
Sound10
Arlington, VA-WVMSA
Volume: 30Mix: 2.23%of portfolio
Place
SoundShowing 10 of 16 metro areas
Top States by Place Specialization Score
1
NJState
Volume: 1,006Mix: 74.74%of portfolio
Place
Exceptional2
PAState
Volume: 166Mix: 12.33%of portfolio
Place
Strong3
VAState
Volume: 41Mix: 3.05%of portfolio
Place
Sound4
MDState
Volume: 31Mix: 2.30%of portfolio
Place
Sound5
FLState
Volume: 28Mix: 2.08%of portfolio
Place
Sound6
NYState
Volume: 13Mix: 0.97%of portfolio
Place
Sound7
MIState
Volume: 14Mix: 1.04%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.