Cake Mortgage
We analyzed every closed loan from Cake Mortgage — 715 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 · Jumbo
Place
Sound
3/5
Near-National · 10 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Summary
What They Do Well
- Nationwide availability with consistent service
Things to Think About
- Rates typically 100 basis points above market average
- Higher than average fees ($4,201)
Explore another lender or local market
Report Card
Cake Mortgage performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+99.7 bps above market avg
1/5
Pull Through
Closing strength
Sound
Top 60% of lenders
3/5
By Loan Product· Specialization by type
Conventional
487 loans · 1.12% above market
Sound
Top 60% of lenders
3/5
FHA
76 loans · 0.55% above market
Sound
Top 60% of lenders
3/5
VA
22 loans · 0.34% above market
Sound
Top 60% of lenders
3/5
Jumbo
130 loans · 1.20% above market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
434 loans · 0.99% above market
Sound
Top 60% of lenders
3/5
Refinance
281 loans · 1.02% above market
Strong
Top 40% of lenders
4/5
By Location· Geographic coverage
Geographic Reach
Near-National · 11 markets
Sound
Top 60% of lenders
3/5
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 487 | 68.1% | +1.124%Above | $4,549Fees | ||||
FHA Loans | 76 | 10.6% | +0.547%Above | $4,043Fees | ||||
VA Loans | — | 22 | 3.1% | +0.336%Above | $3,248Fees | |||
Jumbo Loans | 130 | 18.2% | +1.195%Above | $3,043Fees |
Conventional
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume487
Mix68.1%
Spread
+1.124%Above
Fees
$4,549Fees
FHA Loans
OverallSound
ProductSound
PricingAcceptable
Pull ThroughAcceptable
Volume76
Mix10.6%
Spread
+0.547%Above
Fees
$4,043Fees
VA Loans
OverallAcceptable
ProductSound
Pricing—
Pull ThroughMediocre
Volume22
Mix3.1%
Spread
+0.336%Above
Fees
$3,248Fees
Jumbo Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume130
Mix18.2%
Spread
+1.195%Above
Fees
$3,043Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 434 | 60.7% | +0.988%Above | $4,102Fees | ||||
Refinance | 281 | 39.3% | +1.017%Above | $4,434Fees |
Purchase
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume434
Mix60.7%
Spread
+0.988%Above
Fees
$4,102Fees
Refinance
OverallAcceptable
ProductStrong
PricingMediocre
Pull ThroughAcceptable
Volume281
Mix39.3%
Spread
+1.017%Above
Fees
$4,434Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
715
Applications
1,606
Volume
$475 million
Pricing & Closing
Avg Rate Spread
+0.997%
vs. market APOR
Avg Net Fees
$4,201
Origination − Credits
Pullthrough Rate
44.5%
Applications → Closed
Typical Borrower
Avg Loan Amount
$665,350
Avg Borrower Income
$431,315
Avg Property Value
$1,087,783
Geographic Coverage
Geographic Performance
Metro Areas
10
markets with activity
States Served
35
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
35Full-year 2024 · HMDALoans originated
< 1010–2020+None
Northeast6
CTMANHNJPARI
Midwest7
ILINKSMIMONDOH
South12
ALFLGALAMDNCOKSCTNTXVAWV
West10
AZCACOIDMTNMNVORUTWA
Top States by Place Specialization Score
Showing 10 of 11 states
How We Rank Lenders
Our rankings use an equal-weight average of scores across the 5 Ps — Pricing, Product, Pull-Through, and Place — with lender promptness blending in as the fifth once a lender has responded to real shopper quote requests.
Our Point System (Max 50 Points)
10/ 50 pts
Pricing
How competitively a lender prices vs. the market benchmark (20%).
10/ 50 pts
Product
Performance on your specific loan type (20%).
10/ 50 pts
Pull Through
How reliably a lender closes the loans it starts (20%).
10/ 50 pts
Place
Depth of a lender's expertise in your local market (20%).
10/ 50 pts
Promptness
How quickly a lender answers real quote requests — blended in once they respond (20%).
Champion(80%+ = 40-50 points)
Superstar(60-79% = 30-39 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.