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SUMMIT MORTGAGE BANKERS INC.
Independent Mortgage Company|NEW YORK, NY|Regional
Loans Originated
479
Applications
538
Volume
$262 million
Offers loans directly to consumers
Overall Pricing
Sound
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.109%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$2,956
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
89.0%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
Report Card
SUMMIT MORTGAGE BANKERS INC. 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 | |
Jumbo | Sound | Industry Standard | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Sound | Industry Standard | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Sound | Regional · 9 metro areas · 5 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$547,630
Average Borrower Income
$222,146
Average Property Value
$954,374
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Sound | Sound | Strong | 467 | 97.5% | +0.108% | $2,995 |
Jumbo Loans | Sound | Sound | N/A | N/A | 12 | 2.5% | +0.150% | $1,601 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Sound | Sound | Strong | 408 | 85.2% | +0.121% | $3,165 |
Refinance | Sound | Sound | Sound | Strong | 71 | 14.8% | +0.040% | $1,737 |
Geographic Coverage
Metro Areas
9
States Served
5
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
CANJNYPATX
Top Metro Areas by Place Specialization Score
1
New York, NY-NJMSA
Volume: 248Mix: 51.77%
Place Specialization
Strong
2
Nassau County, NYMSA
Volume: 63Mix: 13.15%
Place Specialization
Strong
3
Los Angeles, CAMSA
Volume: 36Mix: 7.52%
Place Specialization
Sound
4
Lakewood, NJMSA
Volume: 28Mix: 5.85%
Place Specialization
Sound
5
Anaheim, CAMSA
Volume: 15Mix: 3.13%
Place Specialization
Sound
6
Newark, NJ, NJMSA
Volume: 15Mix: 3.13%
Place Specialization
Sound
7
Riverside, CAMSA
Volume: 18Mix: 3.76%
Place Specialization
Sound
8
San Jose, CAMSA
Volume: 13Mix: 2.71%
Place Specialization
Sound
9
Oakland, CAMSA
Volume: 12Mix: 2.51%
Place Specialization
Sound
Top States by Place Specialization Score
1
NYState
Volume: 291Mix: 60.75%
Place Specialization
Strong
2
NJState
Volume: 82Mix: 17.12%
Place Specialization
Strong
3
CAState
Volume: 103Mix: 21.50%
Place Specialization
Sound
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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