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We analyzed every closed loan from State Employees — 9.7k loans across 15k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Strong
vs. all lenders
Pull Through
Strong
closing strength
Products
Exceptional
Conventional · Jumbo
Place
Strong
Regional · 22 mkts
Safe Rate Awards💎Jumbo Champion⭐Conventional Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Offers rates 74.00 basis points below market average
- Strong pull through performance
- Particularly strong in Conventional and Jumbo loans
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Report Card
State Employees' performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Highly Competitive Rates 74.0 bps below market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 10% of lenders | |
Jumbo | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Market Leader Top 20% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders Regional23 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 9,542 | 98.4% | -0.732%Below | $2,192Fees | ||||
Jumbo Loans | 158 | 1.6% | -1.142%Below | $2,494Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 7,653 | 78.9% | -0.756%Below | $2,188Fees | ||||
Refinance | 2,047 | 21.1% | -0.694%Below | $2,227Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
9,700
Applications
14,645
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
-0.740%
vs. market APOR
Avg Net Fees
$2,198
Origination − Credits
Pullthrough Rate
66.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$284,868
Avg Borrower Income
$119,224
Avg Property Value
$364,292
Geographic Coverage
Geographic Performance
Metro Areas
22
States Served
5
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
GANCSCTNVA
Top Metro Areas by Place Specialization Score
1
Raleigh, NCMSA
Volume: 1,402Mix: 14.45%of portfolio
Place
Exceptional2
Greensboro, NCMSA
Volume: 781Mix: 8.05%of portfolio
Place
Exceptional3
Winston, NCMSA
Volume: 633Mix: 6.53%of portfolio
Place
Exceptional4
Hickory, NCMSA
Volume: 579Mix: 5.97%of portfolio
Place
Exceptional5
Durham, NCMSA
Volume: 555Mix: 5.72%of portfolio
Place
Exceptional6
Burlington, NC, NCMSA
Volume: 258Mix: 2.66%of portfolio
Place
Exceptional7
Greenville, NC, NCMSA
Volume: 198Mix: 2.04%of portfolio
Place
Exceptional8
Rocky Mount, NC, NCMSA
Volume: 139Mix: 1.43%of portfolio
Place
Exceptional9
Wilmington, NC, NCMSA
Volume: 448Mix: 4.62%of portfolio
Place
Exceptional10
Goldsboro, NC, NCMSA
Volume: 134Mix: 1.38%of portfolio
Place
ExceptionalShowing 10 of 22 metro areas
Top States by Place Specialization Score
1
NCState
Volume: 9,247Mix: 95.33%of portfolio
Place
Exceptional2
SCState
Volume: 250Mix: 2.58%of portfolio
Place
Strong3
VAState
Volume: 109Mix: 1.12%of portfolio
Place
Sound4
TNState
Volume: 48Mix: 0.49%of portfolio
Place
Sound5
GAState
Volume: 46Mix: 0.47%of portfolio
Place
SoundHow 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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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
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.