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Provident Bank
Bank|Jersey City, NJ|Regional
Loans Originated
475
Applications
733
Volume
$184 million
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Exceptional
Overall Pull Through
Sound
Safe Rate Awards⭐Conventional Superstar⭐Purchase Superstar
Pricing and Pullthrough Overview
Average Rate Spread
-0.183%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
-$262
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
64.8%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Offers rates 18.30 basis points below market average
- Lower than average lender fees
Report Card
Provident Bank performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Exceptional | Market Leader | |
Pull Through Closing Strength | Sound | Industry Standard | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Sound | Industry Standard | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Sound | Industry Standard | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Strong | Regional · 5 metro areas · 4 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$388,600
Average Borrower Income
$156,029
Average Property Value
$571,737
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Strong | Sound | Exceptional | Sound | 446 | 93.9% | -0.222% | -$421 |
FHA Loans | Sound | Sound | Sound | Sound | 22 | 4.6% | +0.547% | $2,416 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Strong | Sound | Exceptional | Sound | 383 | 80.6% | -0.276% | -$520 |
Refinance | Sound | Sound | Sound | Sound | 92 | 19.4% | +0.240% | $909 |
Geographic Coverage
Metro Areas
5
States Served
4
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
FLNJNYPA
Top Metro Areas by Place Specialization Score
1
Newark, NJ, NJMSA
Volume: 199Mix: 41.89%
Place Specialization
Exceptional
2
Lakewood, NJMSA
Volume: 191Mix: 40.21%
Place Specialization
Exceptional
3
New York, NY-NJMSA
Volume: 42Mix: 8.84%
Place Specialization
Sound
4
Trenton, NJMSA
Volume: 13Mix: 2.74%
Place Specialization
Sound
5
Camden, NJ, NJMSA
Volume: 10Mix: 2.11%
Place Specialization
Sound
Top States by Place Specialization Score
1
NJState
Volume: 457Mix: 96.21%
Place Specialization
Exceptional
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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