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We analyzed every closed loan from Vellum Mortgage — 1.4k loans across 2k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Sound
vs. all lenders
Pull Through
Strong
closing strength
Products
Strong
FHA · Conventional · VA · Jumbo
Place
Strong
Multi-Region · 12 mkts
Safe Rate Awards⭐Conventional Superstar⭐VA Superstar⭐Purchase Superstar⭐Refinance Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA loans
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Report Card
Vellum Mortgage, Inc. performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Industry Standard +23.7 bps above market avg | |
Pull Through Closing strength | Highly Competitive Top 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
Jumbo | Industry Standard Top 60% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Industry Standard Top 60% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders Multi-Regional13 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 939 | 69.4% | +0.208%Above | $2,288Fees | ||||
FHA Loans | 264 | 19.5% | +0.600%Above | $3,319Fees | ||||
VA Loans | 123 | 9.1% | -0.361%Below | $2,149Fees | ||||
Jumbo Loans | — | 25 | 1.8% | +0.236%Above | $1,975Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,248 | 92.2% | +0.249%Above | $2,714Fees | ||||
Refinance | 105 | 7.8% | +0.122%Above | $10Credit |
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,353
Applications
1,645
Volume
$704 million
Pricing & Closing
Avg Rate Spread
+0.237%
vs. market APOR
Avg Net Fees
$2,456
Origination − Credits
Pullthrough Rate
82.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$520,381
Avg Borrower Income
$175,845
Avg Property Value
$667,291
Geographic Coverage
Geographic Performance
Metro Areas
12
States Served
17
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
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Top Metro Areas by Place Specialization Score
1
Washington, DC, DC-MDMSA
Volume: 249Mix: 18.40%of portfolio
Place
Exceptional2
Oakland, CAMSA
Volume: 254Mix: 18.77%of portfolio
Place
Exceptional3
Frederick, MDMSA
Volume: 152Mix: 11.23%of portfolio
Place
Exceptional4
Arlington, VA-WVMSA
Volume: 288Mix: 21.29%of portfolio
Place
Exceptional5
Lexington Park, MD, MDMSA
Volume: 55Mix: 4.07%of portfolio
Place
Strong6
Baltimore, MDMSA
Volume: 102Mix: 7.54%of portfolio
Place
Strong7
Vallejo, CA, CAMSA
Volume: 21Mix: 1.55%of portfolio
Place
Sound8
Hagerstown, MD-WVMSA
Volume: 15Mix: 1.11%of portfolio
Place
Sound9
San Francisco, CAMSA
Volume: 15Mix: 1.11%of portfolio
Place
Sound10
Sacramento, CAMSA
Volume: 18Mix: 1.33%of portfolio
Place
SoundShowing 10 of 12 metro areas
Top States by Place Specialization Score
1
MDState
Volume: 469Mix: 34.66%of portfolio
Place
Exceptional2
VAState
Volume: 333Mix: 24.61%of portfolio
Place
Strong3
DCState
Volume: 103Mix: 7.61%of portfolio
Place
Strong4
CAState
Volume: 348Mix: 25.72%of portfolio
Place
Strong5
TXState
Volume: 36Mix: 2.66%of portfolio
Place
Sound6
WVState
Volume: 10Mix: 0.74%of portfolio
Place
Acceptable7
FLState
Volume: 20Mix: 1.48%of portfolio
Place
AcceptableHow 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.