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We analyzed every closed loan from The Federal Savings Bank — 7.0k loans across 18k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Mediocre
vs. all lenders
Pull Through
Sound
closing strength
Products
Exceptional
FHA · Conventional · VA · Jumbo · USDA
Place
Sound
National · 49 mkts
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Safe Rate's Summary
What They Do Well
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 58 basis points above market average
Explore another lender or local market
Report Card
The Federal Savings Bank performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Below peers +58.2 bps above market avg | |
Pull Through Closing strength | Industry Standard Top 60% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Market Leader Top 20% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
USDA | Highly Competitive Top 40% 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 | Industry Standard Top 60% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,127 | 30.2% | +0.659%Above | $3,473Fees | ||||
FHA Loans | 1,194 | 16.9% | +0.670%Above | $4,116Fees | ||||
VA Loans | 3,668 | 52.0% | +0.346%Above | $4,394Fees | ||||
Jumbo Loans | 46 | 0.7% | +0.494%Above | $2,787Fees | ||||
USDA Loans | — | 13 | 0.2% | -0.039%Below | $2,032Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 3,199 | 45.4% | +0.587%Above | $3,494Fees | ||||
Refinance | 3,849 | 54.6% | +0.567%Above | $4,876Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
7,048
Applications
17,531
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.582%
vs. market APOR
Avg Net Fees
$3,809
Origination − Credits
Pullthrough Rate
40.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$396,247
Avg Borrower Income
$128,999
Avg Property Value
$472,741
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
51
Why 51? We count DC as a state
Avg Place Specialization
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Chicago, ILMSA
Volume: 728Mix: 10.33%of portfolio
Place
Exceptional2
Nassau County, NYMSA
Volume: 276Mix: 3.92%of portfolio
Place
Strong3
New York, NY-NJMSA
Volume: 326Mix: 4.63%of portfolio
Place
Strong4
Indianapolis, INMSA
Volume: 238Mix: 3.38%of portfolio
Place
Strong5
Lima, OH, OHMSA
Volume: 57Mix: 0.81%of portfolio
Place
Strong6
Lakewood, NJMSA
Volume: 146Mix: 2.07%of portfolio
Place
Strong7
Elgin, IL, ILMSA
Volume: 73Mix: 1.04%of portfolio
Place
Strong8
Virginia Beach, VA-NCMSA
Volume: 136Mix: 1.93%of portfolio
Place
Strong9
Lake County, IL, ILMSA
Volume: 58Mix: 0.82%of portfolio
Place
Strong10
Arlington, VA-WVMSA
Volume: 126Mix: 1.79%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
ILState
Volume: 933Mix: 13.24%of portfolio
Place
Exceptional2
NYState
Volume: 650Mix: 9.22%of portfolio
Place
Strong3
VAState
Volume: 395Mix: 5.60%of portfolio
Place
Strong4
NJState
Volume: 306Mix: 4.34%of portfolio
Place
Strong5
INState
Volume: 360Mix: 5.11%of portfolio
Place
Strong6
GAState
Volume: 320Mix: 4.54%of portfolio
Place
Strong7
NCState
Volume: 366Mix: 5.19%of portfolio
Place
Strong8
TNState
Volume: 213Mix: 3.02%of portfolio
Place
Strong9
OHState
Volume: 264Mix: 3.75%of portfolio
Place
Strong10
WAState
Volume: 176Mix: 2.50%of portfolio
Place
StrongShowing 10 of 49 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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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.