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OPEN MORTGAGE, LLC
Independent Mortgage Company|AUSTIN, TX|Near-National
Loans Originated
694
Applications
1,827
Volume
$305 million
Offers loans directly to consumers
Overall Pricing
Mediocre
Overall Pull Through
Acceptable
Pricing and Pullthrough Overview
Average Rate Spread
+0.851%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,186
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
38.0%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Nationwide availability with consistent service
Things to Think About
- Rates typically 85 basis points above market average
- Higher than average fees ($4,186)
- Pull through efficiency is below industry average
Report Card
OPEN MORTGAGE, LLC performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Acceptable | Near industry average | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Strong | Highly Competitive | |
VA | Sound | Industry Standard | |
USDA | Sound | Industry Standard | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Sound | Industry Standard | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Sound | Near-National · 14 metro areas · 36 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$440,144
Average Borrower Income
$148,862
Average Property Value
$511,210
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Acceptable | Sound | Mediocre | Acceptable | 208 | 30.0% | +0.621% | $4,291 |
FHA Loans | Acceptable | Strong | Mediocre | Sound | 431 | 62.1% | +1.019% | $4,226 |
VA Loans | Acceptable | Sound | Mediocre | Acceptable | 32 | 4.6% | -0.107% | $3,481 |
USDA Loans | Acceptable | Sound | N/A | Mediocre | 15 | 2.2% | +0.851% | $2,443 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Acceptable | Sound | Mediocre | Acceptable | 605 | 87.2% | +0.901% | $4,343 |
Refinance | Acceptable | Sound | Acceptable | Acceptable | 89 | 12.8% | +0.430% | $2,884 |
Geographic Coverage
Metro Areas
13
States Served
36
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Los Angeles, CAMSA
Volume: 124Mix: 17.87%
Place Specialization
Strong
2
Riverside, CAMSA
Volume: 118Mix: 17.00%
Place Specialization
Strong
3
Beaumont, TXMSA
Volume: 17Mix: 2.45%
Place Specialization
Sound
4
San Antonio, TXMSA
Volume: 22Mix: 3.17%
Place Specialization
Sound
5
Kansas City, MO, MO-KSMSA
Volume: 17Mix: 2.45%
Place Specialization
Sound
6
Tampa, FL, FLMSA
Volume: 16Mix: 2.31%
Place Specialization
Sound
7
Houston, TXMSA
Volume: 19Mix: 2.74%
Place Specialization
Sound
8
Anaheim, CAMSA
Volume: 13Mix: 1.87%
Place Specialization
Sound
9
Dallas, TXMSA
Volume: 17Mix: 2.45%
Place Specialization
Sound
10
Fort Worth, TXMSA
Volume: 13Mix: 1.87%
Place Specialization
Sound
Showing 10 of 13 metro areas
Top States by Place Specialization Score
1
CAState
Volume: 300Mix: 43.23%
Place Specialization
Strong
2
TXState
Volume: 107Mix: 15.42%
Place Specialization
Sound
3
FLState
Volume: 63Mix: 9.08%
Place Specialization
Sound
4
KSState
Volume: 17Mix: 2.45%
Place Specialization
Sound
5
MOState
Volume: 22Mix: 3.17%
Place Specialization
Sound
6
GAState
Volume: 21Mix: 3.03%
Place Specialization
Sound
7
MDState
Volume: 16Mix: 2.31%
Place Specialization
Sound
8
OKState
Volume: 13Mix: 1.87%
Place Specialization
Sound
9
NCState
Volume: 17Mix: 2.45%
Place Specialization
Sound
10
VAState
Volume: 15Mix: 2.16%
Place Specialization
Sound
Showing 10 of 11 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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