Veritas Funding
We analyzed every closed loan from Veritas Funding — 936 loans across 2k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Mediocre
1/5
vs. all lenders
Pull-through
Sound
3/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA
Place
Sound
3/5
Multi-Region · 15 mkts
Summary
What They Do Well
- Particularly strong in FHA and VA loans
Things to Think About
- Pricing may be below industry average
- Higher than average fees ($5,326)
Explore another lender or local market
Report Card
Veritas Funding performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+40.5 bps above market avg
Pull Through
Closing strength
Sound
Top 60% of lenders
By Loan Product· Specialization by type
Conventional
Sound
Top 60% of lenders
FHA
Strong
Top 40% of lenders
VA
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Strong
Top 40% of lenders
Refinance
Strong
Top 40% of lenders
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 16 markets
Sound
Top 60% of lenders
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 238 | 25.4% | +0.421%Above | $5,043Fees | ||||
FHA Loans | 475 | 50.7% | +0.479%Above | $6,393Fees | ||||
VA Loans | — | 221 | 23.6% | +0.031%Above | $4,907Fees |
Conventional
OverallSound
ProductSound
PricingMediocre
Pull ThroughSound
Volume238
Mix25.4%
Spread
+0.421%Above
Fees
$5,043Fees
FHA Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume475
Mix50.7%
Spread
+0.479%Above
Fees
$6,393Fees
VA Loans
OverallStrong
ProductStrong
Pricing—
Pull ThroughSound
Volume221
Mix23.6%
Spread
+0.031%Above
Fees
$4,907Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 378 | 40.4% | +0.440%Above | $5,302Fees | ||||
Refinance | 558 | 59.6% | +0.264%Above | $5,422Fees |
Purchase
OverallSound
ProductStrong
PricingMediocre
Pull ThroughStrong
Volume378
Mix40.4%
Spread
+0.440%Above
Fees
$5,302Fees
Refinance
OverallAcceptable
ProductStrong
PricingMediocre
Pull ThroughAcceptable
Volume558
Mix59.6%
Spread
+0.264%Above
Fees
$5,422Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
936
Applications
2,095
Volume
$320 million
Pricing & Closing
Avg Rate Spread
+0.405%
vs. market APOR
Avg Net Fees
$5,326
Origination − Credits
Pullthrough Rate
44.7%
Applications → Closed
Typical Borrower
Avg Loan Amount
$342,276
Avg Borrower Income
$105,183
Avg Property Value
$435,128
Geographic Coverage
Geographic Performance
Metro Areas
15
markets with activity
States Served
21
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
21Northeast1
NJ
Midwest4
ILINOHWI
South7
ARFLGANCSCTNTX
West9
AZCACOIDMTNMORUTWY
Top Metro Areas by Place Specialization Score
Volume 135Mix 14.42% of portfolio
75/100
Strong
Volume 61Mix 6.52% of portfolio
75/100
Strong
Volume 110Mix 11.75% of portfolio
74/100
Strong
Volume 33Mix 3.53% of portfolio
58/100
Sound
Volume 21Mix 2.24% of portfolio
55/100
Sound
Volume 32Mix 3.42% of portfolio
51/100
Sound
Volume 18Mix 1.92% of portfolio
44/100
Sound
Volume 15Mix 1.60% of portfolio
44/100
Sound
Volume 14Mix 1.50% of portfolio
43/100
Sound
Volume 12Mix 1.28% of portfolio
43/100
SoundShowing 10 of 15 metro areas
Top States by Place Specialization Score
1
UtahState
Volume 315Mix 33.65% of portfolio
78/100
Strong2
IdahoState
Volume 78Mix 8.33% of portfolio
62/100
Strong3
GeorgiaState
Volume 67Mix 7.16% of portfolio
57/100
Sound4
South CarolinaState
Volume 49Mix 5.24% of portfolio
57/100
Sound5
North CarolinaState
Volume 68Mix 7.26% of portfolio
56/100
Sound6
FloridaState
Volume 65Mix 6.94% of portfolio
52/100
Sound7
TennesseeState
Volume 34Mix 3.63% of portfolio
50/100
Sound8
ArizonaState
Volume 34Mix 3.63% of portfolio
50/100
Sound9
OhioState
Volume 32Mix 3.42% of portfolio
48/100
Sound10
New JerseyState
Volume 26Mix 2.78% of portfolio
48/100
SoundShowing 10 of 17 states
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.