Watermark Capital
We analyzed every closed loan from Watermark Capital — 626 loans across 771 applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Strong
4/5
vs. all lenders
Pull-through
Strong
4/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · Jumbo
Place
Sound
3/5
Near-National · 17 mkts
Awards
Conventional
Superstar
FHA
Superstar
Refinance
Superstar
Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Strong pull through performance
- Nationwide availability with consistent service
Explore another lender or local market
Report Card
Watermark Capital performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Strong
+1.3 bps above market avg
Pull Through
Closing strength
Strong
Top 40% of lenders
By Loan Product· Specialization by type
Conventional
Sound
Top 60% of lenders
FHA
Sound
Top 60% of lenders
VA
Sound
Top 60% of lenders
Jumbo
Strong
Top 40% of lenders
By Loan Purpose· Transaction purpose mix
Purchase
Sound
Top 60% of lenders
Refinance
Sound
Top 60% of lenders
By Location· Geographic coverage
Geographic Reach
Near-National · 18 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 | 518 | 82.7% | +0.001%Above | $1,156Fees | ||||
FHA Loans | 38 | 6.1% | +0.178%Above | $1,216Fees | ||||
VA Loans | 23 | 3.7% | -0.539%Below | $1,320Fees | ||||
Jumbo Loans | 47 | 7.5% | +0.393%Above | $2,262Fees |
Conventional
OverallStrong
ProductSound
PricingStrong
Pull ThroughSound
Volume518
Mix82.7%
Spread
+0.001%Above
Fees
$1,156Fees
FHA Loans
OverallStrong
ProductSound
PricingExceptional
Pull ThroughStrong
Volume38
Mix6.1%
Spread
+0.178%Above
Fees
$1,216Fees
VA Loans
OverallSound
ProductSound
PricingStrong
Pull ThroughAcceptable
Volume23
Mix3.7%
Spread
-0.539%Below
Fees
$1,320Fees
Jumbo Loans
OverallSound
ProductStrong
PricingAcceptable
Pull ThroughStrong
Volume47
Mix7.5%
Spread
+0.393%Above
Fees
$2,262Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 419 | 66.9% | +0.072%Above | $1,610Fees | ||||
Refinance | 207 | 33.1% | -0.115%Below | $447Fees |
Purchase
OverallSound
ProductSound
PricingStrong
Pull ThroughSound
Volume419
Mix66.9%
Spread
+0.072%Above
Fees
$1,610Fees
Refinance
OverallStrong
ProductSound
PricingExceptional
Pull ThroughStrong
Volume207
Mix33.1%
Spread
-0.115%Below
Fees
$447Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
626
Applications
771
Volume
$355 million
Pricing & Closing
Avg Rate Spread
+0.013%
vs. market APOR
Avg Net Fees
$1,244
Origination − Credits
Pullthrough Rate
81.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$567,125
Avg Borrower Income
$270,864
Avg Property Value
$866,773
Geographic Coverage
Geographic Performance
Metro Areas
17
markets with activity
States Served
34
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
34Northeast4
CTMANJPA
Midwest6
INKSMIMNOHWI
South12
ALDCFLGAMDMSNCOKSCTNTXVA
West12
AZCACOHIIDMTNMNVORUTWAWY
Top Metro Areas by Place Specialization Score
Volume 61Mix 9.74% of portfolio
61/100
Strong
Volume 53Mix 8.47% of portfolio
59/100
Sound
Volume 24Mix 3.83% of portfolio
56/100
Sound
Volume 44Mix 7.03% of portfolio
55/100
Sound
5© No machine-readable author provided. Billy Hathorn assumed (based on copyright claims). · CC BY-SA 3.0Fort Worth, TXMetro
Volume 31Mix 4.95% of portfolio
55/100
Sound
Volume 28Mix 4.47% of portfolio
55/100
Sound
Volume 18Mix 2.88% of portfolio
49/100
Sound
Volume 19Mix 3.04% of portfolio
48/100
Sound
Volume 17Mix 2.72% of portfolio
46/100
Sound
Volume 16Mix 2.56% of portfolio
46/100
SoundShowing 10 of 17 metro areas
Top States by Place Specialization Score
1
CaliforniaState
Volume 233Mix 37.22% of portfolio
68/100
Strong2
TexasState
Volume 152Mix 24.28% of portfolio
63/100
Strong3
MarylandState
Volume 38Mix 6.07% of portfolio
54/100
Sound4
ArizonaState
Volume 24Mix 3.83% of portfolio
47/100
Sound5
WashingtonState
Volume 19Mix 3.04% of portfolio
46/100
Sound6
VirginiaState
Volume 20Mix 3.19% of portfolio
45/100
Sound7
NevadaState
Volume 15Mix 2.40% of portfolio
45/100
Sound8
North CarolinaState
Volume 12Mix 1.92% of portfolio
38/100
Acceptable9
GeorgiaState
Volume 11Mix 1.76% of portfolio
38/100
Acceptable10
TennesseeState
Volume 10Mix 1.60% of portfolio
37/100
AcceptableShowing 10 of 11 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.