We analyzed every closed loan from Preferred Mortgage — 451 loans across 646 applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in FHA and VA and USDA loans
Things to Think About
- Rates typically 60 basis points above market average
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Report Card
Preferred Mortgage Corporation performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Near industry average +59.5 bps above market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Near industry average Bottom 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
USDA | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Near industry average Bottom 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders Varies4 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | — | 34 | 7.5% | +1.608%Above | $4,054Fees | |||
FHA Loans | 304 | 67.4% | +0.703%Above | $2,981Fees | ||||
VA Loans | 52 | 11.5% | +0.178%Above | $2,043Fees | ||||
USDA Loans | — | 57 | 12.6% | +0.054%Above | $3,505Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 435 | 96.5% | +0.602%Above | $2,835Fees | ||||
Refinance | — | 16 | 3.5% | +0.513%Above | $3,088Fees |
At a Glance
Lender Overview
Geographic Coverage
Geographic Performance
Top Metro Areas by Place Specialization Score
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)
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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