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USAA Federal Savings Bank's 12.1k closed loans and 24k applications, benchmarked against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Sound
vs. all lenders
Pull Through
Sound
closing strength
Products
Exceptional
Conventional · VA
Place
Strong
National · 49 mkts
Safe Rate Awards⭐VA Superstar⭐Purchase Superstar
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Safe Rate's Summary
What They Do Well
- High volume lender with significant market experience
- Particularly strong in Conventional and VA loans
- Nationwide availability with consistent service
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Report Card
USAA Federal Savings Bank performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Industry Standard Rates 12.9 bps below 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 | |
VA | Market Leader Top 10% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 4,154 | 34.3% | +0.136%Above | $2,315Fees | ||||
VA Loans | 7,946 | 65.7% | -0.291%Below | $1,536Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 11,051 | 91.3% | -0.132%Below | $1,819Fees | ||||
Refinance | 1,049 | 8.7% | -0.095%Below | $1,949Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
12,100
Applications
24,361
Volume
$4 billion
Pricing & Closing
Avg Rate Spread
-0.129%
vs. market APOR
Avg Net Fees
$1,831
Origination − Credits
Pullthrough Rate
49.7%
Applications → Closed
Typical Borrower
Avg Loan Amount
$350,726
Avg Borrower Income
$147,818
Avg Property Value
$428,576
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
Fayetteville, NC, NCMSA
Volume: 99Mix: 0.82%of portfolio
Place
Strong2
Augusta, GA-SCMSA
Volume: 74Mix: 0.61%of portfolio
Place
Strong3
Oklahoma City, OK, OKMSA
Volume: 120Mix: 0.99%of portfolio
Place
Strong4
St. Louis, MO, MO-ILMSA
Volume: 151Mix: 1.25%of portfolio
Place
Strong5
Virginia Beach, VA-NCMSA
Volume: 138Mix: 1.14%of portfolio
Place
Strong6
Huntsville, AL, ALMSA
Volume: 81Mix: 0.67%of portfolio
Place
Strong7
Little Rock, ARMSA
Volume: 76Mix: 0.63%of portfolio
Place
Strong8
Albuquerque, NM, NMMSA
Volume: 100Mix: 0.83%of portfolio
Place
Strong9
Atlanta, GAMSA
Volume: 187Mix: 1.55%of portfolio
Place
Strong10
Pensacola, FLMSA
Volume: 70Mix: 0.58%of portfolio
Place
StrongShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
ALState
Volume: 380Mix: 3.14%of portfolio
Place
Strong2
TXState
Volume: 1,164Mix: 9.62%of portfolio
Place
Strong3
VAState
Volume: 483Mix: 3.99%of portfolio
Place
Strong4
GAState
Volume: 592Mix: 4.89%of portfolio
Place
Strong5
NCState
Volume: 739Mix: 6.11%of portfolio
Place
Strong6
KSState
Volume: 218Mix: 1.80%of portfolio
Place
Strong7
SCState
Volume: 328Mix: 2.71%of portfolio
Place
Strong8
NMState
Volume: 213Mix: 1.76%of portfolio
Place
Strong9
TNState
Volume: 381Mix: 3.15%of portfolio
Place
Strong10
FLState
Volume: 821Mix: 6.79%of portfolio
Place
StrongShowing 10 of 51 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.