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Sovereign Bank
Bank|Shawnee, OK|Multi-Region
Loans Originated
350
Applications
405
Volume
$95 million
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Sound
Overall Pull Through
Strong
Safe Rate Awards⭐FHA Superstar⭐VA Superstar⭐Purchase Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.339%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$1,975
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
86.4%
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 loans
Report Card
Sovereign Bank performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Sound | Industry Standard | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Strong | Highly Competitive | |
VA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Acceptable | Near industry average | |
Places Geographic coverage | Strong | Multi-Regional · 3 metro areas · 6 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$273,829
Average Borrower Income
$141,169
Average Property Value
$348,943
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Sound | Sound | Strong | 195 | 55.7% | +0.239% | $2,038 |
FHA Loans | Strong | Strong | Sound | Exceptional | 103 | 29.4% | +0.783% | $1,663 |
VA Loans | Strong | Strong | Sound | Exceptional | 48 | 13.7% | -0.250% | $2,397 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Strong | Strong | Sound | Strong | 323 | 92.3% | +0.361% | $1,965 |
Refinance | Sound | Acceptable | Strong | Strong | 27 | 7.7% | +0.069% | $2,092 |
Geographic Coverage
Metro Areas
2
States Served
6
We count Washington DC as a state
Avg Place Specialization
Exceptional
States with Loan Originations
FLMOOHOKTXWI
Top Metro Areas by Place Specialization Score
1
Oklahoma City, OK, OKMSA
Volume: 228Mix: 65.14%
Place Specialization
Exceptional
2
Lawton, OK, OKMSA
Volume: 50Mix: 14.29%
Place Specialization
Exceptional
Top States by Place Specialization Score
1
OKState
Volume: 341Mix: 97.43%
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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