Sovereign Bank has 350 closed loans in our dataset — fully analyzed and benchmarked against peers across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Sound
3/5
vs. all lenders
Pull-through
Strong
4/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA
Place
Exceptional
5/5
Multi-Region · 2 mkts
Awards
Conventional
Superstar
FHA
Superstar
VA
Superstar
Purchase
Superstar
Refinance
Superstar
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in FHA and VA loans
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Report Card
Sovereign Bank performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Sound
+33.9 bps above market avg
Pull Through
Closing strength
Strong
Top 40% of lenders
By Loan Product· Specialization by type
Conventional
Sound
Top 60% of lenders
FHA
Strong
Top 40% of lenders
VA
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Acceptable
Bottom 40% of lenders
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 3 markets
Strong
Top 40% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 195 | 55.7% | +0.239%Above | $2,038Fees | ||||
FHA Loans | 103 | 29.4% | +0.783%Above | $1,663Fees | ||||
VA Loans | 48 | 13.7% | -0.250%Below | $2,397Fees |
Conventional
OverallStrong
ProductSound
PricingSound
Pull ThroughStrong
Volume195
Mix55.7%
Spread
+0.239%Above
Fees
$2,038Fees
FHA Loans
OverallStrong
ProductStrong
PricingSound
Pull ThroughExceptional
Volume103
Mix29.4%
Spread
+0.783%Above
Fees
$1,663Fees
VA Loans
OverallStrong
ProductStrong
PricingSound
Pull ThroughExceptional
Volume48
Mix13.7%
Spread
-0.250%Below
Fees
$2,397Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 323 | 92.3% | +0.361%Above | $1,965Fees | ||||
Refinance | 27 | 7.7% | +0.069%Above | $2,092Fees |
Purchase
OverallStrong
ProductStrong
PricingSound
Pull ThroughStrong
Volume323
Mix92.3%
Spread
+0.361%Above
Fees
$1,965Fees
Refinance
OverallSound
ProductAcceptable
PricingStrong
Pull ThroughStrong
Volume27
Mix7.7%
Spread
+0.069%Above
Fees
$2,092Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
350
Applications
405
Volume
$95 million
Pricing & Closing
Avg Rate Spread
+0.339%
vs. market APOR
Avg Net Fees
$1,975
Origination − Credits
Pullthrough Rate
86.4%
Applications → Closed
Typical Borrower
Avg Loan Amount
$273,829
Avg Borrower Income
$141,169
Avg Property Value
$348,943
Geographic Coverage
Geographic Performance
Metro Areas
2
markets with activity
States Served
6
of 50 states + DC
Avg Place Specialization
Exceptional
5/5
States with Loan Originations
6Midwest3
MOOHWI
South3
FLOKTX
Top Metro Areas by Place Specialization Score
Volume 228Mix 65.14% of portfolio
86/100
Exceptional
Volume 50Mix 14.29% of portfolio
82/100
ExceptionalTop States by Place Specialization Score
1
OklahomaState
Volume 341Mix 97.43% of portfolio
83/100
ExceptionalHow We Rank Lenders
Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.
Our Point System (Max 30 Points)
10/ 30 pts
Pricing
Rate and fee competitiveness (33%)
10/ 30 pts
Pull Through
Reliability in closing loans (33%)
10/ 30 pts
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 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.
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.