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SOUTHWEST FUNDING, LP
Independent Mortgage Company|Dallas, TX|Near-National
Loans Originated
1,820
Applications
2,510
Volume
$505 million
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Mediocre
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.818%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,317
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
72.5%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in FHA and VA and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 82 basis points above market average
- Higher than average fees ($4,317)
Report Card
SOUTHWEST FUNDING, LP performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Exceptional | Market Leader | |
VA | Strong | Highly Competitive | |
USDA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Sound | Near-National · 37 metro areas · 25 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$277,632
Average Borrower Income
$108,232
Average Property Value
$315,143
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Acceptable | Sound | Mediocre | Sound | 647 | 35.5% | +0.599% | $4,490 |
FHA Loans | Sound | Exceptional | Mediocre | Strong | 927 | 50.9% | +1.114% | $4,297 |
VA Loans | Sound | Strong | Acceptable | Strong | 202 | 11.1% | -0.163% | $3,667 |
USDA Loans | Sound | Strong | N/A | Sound | 39 | 2.1% | +0.757% | $3,010 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Acceptable | Strong | Mediocre | Sound | 1,623 | 89.2% | +0.900% | $4,430 |
Refinance | Sound | Sound | Acceptable | Strong | 197 | 10.8% | +0.328% | $3,645 |
Geographic Coverage
Metro Areas
36
States Served
25
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
ALARAZCOFLGAIAILINKYLAMIMOMSMTNENMOHOKORPASCTNTXWA
Top Metro Areas by Place Specialization Score
1
Dallas, TXMSA
Volume: 198Mix: 10.88%
Place Specialization
Strong
2
New Orleans, LAMSA
Volume: 80Mix: 4.40%
Place Specialization
Strong
3
Clarksville, TN, TN-KYMSA
Volume: 76Mix: 4.18%
Place Specialization
Strong
4
Fort Worth, TXMSA
Volume: 104Mix: 5.71%
Place Specialization
Strong
5
Beaumont, TXMSA
Volume: 39Mix: 2.14%
Place Specialization
Strong
6
Oklahoma City, OK, OKMSA
Volume: 71Mix: 3.90%
Place Specialization
Strong
7
San Antonio, TXMSA
Volume: 99Mix: 5.44%
Place Specialization
Strong
8
Brownsville, TXMSA
Volume: 30Mix: 1.65%
Place Specialization
Strong
9
McAllen, TXMSA
Volume: 43Mix: 2.36%
Place Specialization
Strong
10
Memphis, TNMSA
Volume: 66Mix: 3.63%
Place Specialization
Strong
Showing 10 of 36 metro areas
Top States by Place Specialization Score
1
TXState
Volume: 813Mix: 44.67%
Place Specialization
Strong
2
ALState
Volume: 133Mix: 7.31%
Place Specialization
Strong
3
LAState
Volume: 156Mix: 8.57%
Place Specialization
Strong
4
TNState
Volume: 176Mix: 9.67%
Place Specialization
Strong
5
OKState
Volume: 117Mix: 6.43%
Place Specialization
Strong
6
SCState
Volume: 57Mix: 3.13%
Place Specialization
Sound
7
COState
Volume: 65Mix: 3.57%
Place Specialization
Sound
8
NMState
Volume: 39Mix: 2.14%
Place Specialization
Sound
9
KYState
Volume: 33Mix: 1.81%
Place Specialization
Sound
10
INState
Volume: 40Mix: 2.20%
Place Specialization
Sound
Showing 10 of 18 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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