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WASHINGTON STATE EMPLOYEES CREDIT UNION
Credit Union|OLYMPIA, WA|Regional
Loans Originated
294
Applications
598
Volume
$126 million
Offers loans directly to consumers
Overall Pricing
Acceptable
Overall Pull Through
Acceptable
Safe Rate Awards⭐FHA Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.334%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$1,686
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
49.2%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Particularly strong in FHA and Jumbo loans
Things to Think About
- Pricing may be below industry average
- Pull through efficiency is below industry average
Report Card
WASHINGTON STATE EMPLOYEES CREDIT UNION performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Acceptable | Near industry average | |
Pull Through Closing Strength | Acceptable | Near industry average | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Sound | Industry Standard | |
FHA | Strong | Highly Competitive | |
Jumbo | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Sound | Industry Standard | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | Regional · 6 metro areas · 3 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$430,782
Average Borrower Income
$161,595
Average Property Value
$625,959
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Sound | Acceptable | Sound | 224 | 76.2% | +0.413% | $1,486 |
FHA Loans | Strong | Strong | Strong | Sound | 44 | 15.0% | +0.133% | $2,905 |
Jumbo Loans | Sound | Strong | N/A | Sound | 19 | 6.5% | +0.106% | $803 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Acceptable | Sound | Acceptable | Acceptable | 211 | 71.8% | +0.279% | $1,875 |
Refinance | Sound | Strong | Sound | Sound | 83 | 28.2% | +0.486% | $1,158 |
Geographic Coverage
Metro Areas
5
States Served
3
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
IDORWA
Top Metro Areas by Place Specialization Score
1
Olympia, WAMSA
Volume: 71Mix: 24.15%
Place Specialization
Exceptional
2
Seattle, WAMSA
Volume: 51Mix: 17.35%
Place Specialization
Strong
3
Spokane, WAMSA
Volume: 32Mix: 10.88%
Place Specialization
Strong
4
Tacoma, WAMSA
Volume: 33Mix: 11.22%
Place Specialization
Strong
5
Yakima, WA, WAMSA
Volume: 15Mix: 5.10%
Place Specialization
Sound
Top States by Place Specialization Score
1
WAState
Volume: 287Mix: 97.62%
Place Specialization
Exceptional
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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