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Towne Bank
Bank|Portsmouth, VA|Multi-Region
Loans Originated
3,585
Applications
4,619
Volume
$1 billion
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Acceptable
Overall Pull Through
Exceptional
Safe Rate Awards⭐FHA Superstar⭐VA Superstar⭐Refinance Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.199%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$3,024
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
77.6%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
Things to Think About
- Pricing may be below industry average
Report Card
Towne Bank performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Acceptable | Near industry average | |
Pull Through Closing Strength | Exceptional | Market Leader | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Exceptional | Market Leader | |
VA | Exceptional | Market Leader | |
Jumbo | Exceptional | Market Leader | |
USDA | Exceptional | Market Leader | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | Multi-Regional · 24 metro areas · 19 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$405,139
Average Borrower Income
$162,268
Average Property Value
$511,828
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Strong | Acceptable | Strong | 2,207 | 61.6% | +0.249% | $3,137 |
FHA Loans | Strong | Exceptional | Sound | Exceptional | 730 | 20.4% | +0.352% | $2,758 |
VA Loans | Strong | Exceptional | Sound | Exceptional | 515 | 14.4% | -0.342% | $2,774 |
Jumbo Loans | Sound | Exceptional | Acceptable | Strong | 90 | 2.5% | +0.396% | $3,332 |
USDA Loans | Exceptional | Exceptional | N/A | Exceptional | 43 | 1.2% | +0.001% | $3,307 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Exceptional | Acceptable | Strong | 3,320 | 92.6% | +0.206% | $3,011 |
Refinance | Strong | Strong | Sound | Strong | 265 | 7.4% | +0.130% | $3,141 |
Geographic Coverage
Metro Areas
23
States Served
19
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Frederick, MDMSA
Volume: 336Mix: 9.37%
Place Specialization
Exceptional
2
Baltimore, MDMSA
Volume: 642Mix: 17.91%
Place Specialization
Exceptional
3
Washington, DC, DC-MDMSA
Volume: 304Mix: 8.48%
Place Specialization
Exceptional
4
Virginia Beach, VA-NCMSA
Volume: 450Mix: 12.55%
Place Specialization
Exceptional
5
Greenville, NC, NCMSA
Volume: 76Mix: 2.12%
Place Specialization
Exceptional
6
Richmond, VA, VAMSA
Volume: 249Mix: 6.95%
Place Specialization
Exceptional
7
Wilmington, NC, NCMSA
Volume: 124Mix: 3.46%
Place Specialization
Strong
8
Raleigh, NCMSA
Volume: 208Mix: 5.80%
Place Specialization
Strong
9
Lexington Park, MD, MDMSA
Volume: 108Mix: 3.01%
Place Specialization
Strong
10
Charlotte, NC-SCMSA
Volume: 175Mix: 4.88%
Place Specialization
Strong
Showing 10 of 23 metro areas
Top States by Place Specialization Score
1
MDState
Volume: 1,434Mix: 40.00%
Place Specialization
Exceptional
2
VAState
Volume: 872Mix: 24.32%
Place Specialization
Exceptional
3
NCState
Volume: 904Mix: 25.22%
Place Specialization
Strong
4
SCState
Volume: 95Mix: 2.65%
Place Specialization
Strong
5
DCState
Volume: 33Mix: 0.92%
Place Specialization
Sound
6
LAState
Volume: 48Mix: 1.34%
Place Specialization
Sound
7
PAState
Volume: 47Mix: 1.31%
Place Specialization
Sound
8
FLState
Volume: 50Mix: 1.39%
Place Specialization
Sound
9
WVState
Volume: 17Mix: 0.47%
Place Specialization
Sound
10
DEState
Volume: 17Mix: 0.47%
Place Specialization
Sound
Showing 10 of 14 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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