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VERITAS FUNDING, LLC
Independent Mortgage Company|MIDVALE, UT|Multi-Region
Loans Originated
936
Applications
2,095
Volume
$320 million
Offers loans directly to consumers
Overall Pricing
Mediocre
Overall Pull Through
Sound
Pricing and Pullthrough Overview
Average Rate Spread
+0.405%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$5,326
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
44.7%
Percentage of applications that result in closed loans
Safe Rate's 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)
Report Card
VERITAS FUNDING, LLC performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Sound | Industry Standard | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Strong | Highly Competitive | |
VA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Sound | Multi-Regional · 16 metro areas · 21 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$342,276
Average Borrower Income
$105,183
Average Property Value
$435,128
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Acceptable | Sound | Mediocre | Sound | 238 | 25.4% | +0.421% | $5,043 |
FHA Loans | Acceptable | Strong | Mediocre | Sound | 475 | 50.7% | +0.479% | $6,393 |
VA Loans | Sound | Strong | N/A | Sound | 221 | 23.6% | +0.031% | $4,907 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Strong | Mediocre | Strong | 378 | 40.4% | +0.440% | $5,302 |
Refinance | Acceptable | Strong | Mediocre | Acceptable | 558 | 59.6% | +0.264% | $5,422 |
Geographic Coverage
Metro Areas
15
States Served
21
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
ARAZCACOFLGAIDILINMTNCNJNMOHORSCTNTXUTWIWY
Top Metro Areas by Place Specialization Score
1
Salt Lake City, UTMSA
Volume: 135Mix: 14.42%
Place Specialization
Strong
2
Idaho Falls, ID, IDMSA
Volume: 61Mix: 6.52%
Place Specialization
Strong
3
Provo, UTMSA
Volume: 110Mix: 11.75%
Place Specialization
Strong
4
Ogden, UT, UTMSA
Volume: 33Mix: 3.53%
Place Specialization
Sound
5
St. George, UT, UTMSA
Volume: 21Mix: 2.24%
Place Specialization
Sound
6
Atlanta, GAMSA
Volume: 32Mix: 3.42%
Place Specialization
Sound
7
Phoenix, AZMSA
Volume: 18Mix: 1.92%
Place Specialization
Sound
8
Charlotte, NC-SCMSA
Volume: 15Mix: 1.60%
Place Specialization
Sound
9
Indianapolis, INMSA
Volume: 14Mix: 1.50%
Place Specialization
Sound
10
Charleston, SCMSA
Volume: 12Mix: 1.28%
Place Specialization
Sound
Showing 10 of 15 metro areas
Top States by Place Specialization Score
1
UTState
Volume: 315Mix: 33.65%
Place Specialization
Strong
2
IDState
Volume: 78Mix: 8.33%
Place Specialization
Strong
3
GAState
Volume: 67Mix: 7.16%
Place Specialization
Sound
4
SCState
Volume: 49Mix: 5.24%
Place Specialization
Sound
5
NCState
Volume: 68Mix: 7.26%
Place Specialization
Sound
6
FLState
Volume: 65Mix: 6.94%
Place Specialization
Sound
7
TNState
Volume: 34Mix: 3.63%
Place Specialization
Sound
8
AZState
Volume: 34Mix: 3.63%
Place Specialization
Sound
9
OHState
Volume: 32Mix: 3.42%
Place Specialization
Sound
10
NJState
Volume: 26Mix: 2.78%
Place Specialization
Sound
Showing 10 of 17 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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