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The Washington Trust Company, of Westerly

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We analyzed every closed loan from The Washington Trust Company, of Westerly — 460 loans across 656 applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.

Safe Rate Ratings· each scored 1–5 against peer lenders
Pricing
Strong
4/5
vs. all lenders
Pull-through
Strong
4/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · Jumbo
Place
Strong
4/5
Regional · 2 mkts
Safe Rate Awards
Conventional Superstar
Conventional
Superstar
FHA Superstar
FHA
Superstar
Purchase Superstar
Purchase
Superstar

Safe Rate Summary

What They Do Well

  • Offers rates 15.00 basis points below market average
  • Lower than average lender fees
  • Strong pull through performance
  • Particularly strong in Conventional and FHA and Jumbo loans

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Report Card

The Washington Trust Company, of Westerly performance at a glance

Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Strong
Rates 15.0 bps below market avg
Pull Through
Closing strength
Strong
Top 40% of lenders
By Loan Product· Specialization by type
Conventional
Strong
Top 40% of lenders
FHA
Strong
Top 40% of lenders
VA
Sound
Top 60% of lenders
Jumbo
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Sound
Top 60% of lenders
By Location· Geographic coverage
Geographic Reach
Regional · 2 markets
Strong
Top 40% of lenders

Loan Product Performance

Performance by Loan Product

Conventional
Overall
Strong
Product
Strong
Pricing
Strong
Pull Through
Strong
Volume341
Mix74.1%
Spread
-0.228%Below
Fees
$1,493Fees
FHA Loans
Overall
Strong
Product
Strong
Pricing
Exceptional
Pull Through
Sound
Volume89
Mix19.3%
Spread
+0.128%Above
Fees
$2,005Fees
VA Loans
Overall
Sound
Product
Sound
Pricing—
Pull Through
Sound
Volume13
Mix2.8%
Spread
-0.417%Below
Fees
$768Fees
Jumbo Loans
Overall
Strong
Product
Strong
Pricing—
Pull Through
Strong
Volume17
Mix3.7%
Spread
+0.336%Above
Fees
$1,659Fees

Loan Purpose Performance

Performance by Loan Purpose

Purchase
Overall
Strong
Product
Strong
Pricing
Strong
Pull Through
Strong
Volume404
Mix87.8%
Spread
-0.191%Below
Fees
$1,597Fees
Refinance
Overall
Sound
Product
Sound
Pricing
Strong
Pull Through
Sound
Volume56
Mix12.2%
Spread
+0.089%Above
Fees
$1,442Fees

At a Glance

Lender Overview

Lending Activity
Loans Originated
460
Applications
656
Volume
$186 million
Pricing & Closing
Avg Rate Spread
-0.150%
vs. market APOR
Avg Net Fees
$1,574
Origination − Credits
Pullthrough Rate
70.1%
Applications → Closed
Typical Borrower
Avg Loan Amount
$405,978
Avg Borrower Income
$155,496
Avg Property Value
$571,326

Geographic Coverage

Geographic Performance

Metro Areas
2
markets with activity
States Served
4
of 50 states + DC
Avg Place Specialization
Strong
4/5

States with Loan Originations

4
4 states with loan originationsAlaskaAlabamaArkansasArizonaCaliforniaColoradoConnecticutWashington, DCDelawareFloridaGeorgiaHawaiiIowaIdahoIllinoisIndianaKansasKentuckyLouisianaMassachusettsMarylandMaineMichiganMinnesotaMissouriMississippiMontanaNorth CarolinaNorth DakotaNebraskaNew HampshireNew JerseyNew MexicoNevadaNew YorkOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVirginiaVermontWashingtonWisconsinWest VirginiaWyoming
Northeast4
CTMANHRI

Top Metro Areas by Place Specialization Score

1© Macaolards · CC BY-SA 4.0
Providence, RI-MAMetro
Volume 408Mix 88.70% of portfolio
96/100
Exceptional
2© Bobphoenix · CC BY-SA 4.0
Norwich, CTMetro
Volume 13Mix 2.83% of portfolio
49/100
Sound

Top States by Place Specialization Score

Rhode Island
Rhode Island
1
Rhode IslandState
Volume 396Mix 86.09% of portfolio
96/100
Exceptional
Massachusetts
Massachusetts
2
MassachusettsState
Volume 39Mix 8.48% of portfolio
55/100
Sound
Connecticut
Connecticut
3
ConnecticutState
Volume 24Mix 5.22% of portfolio
50/100
Sound

How 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.