Merchants Bank of Indiana
We analyzed every closed loan from Merchants Bank of Indiana — 787 loans across 1k applications— and benchmarked them against peer lenders across the 5 Ps of Mortgage Shopping.
Ratings· each scored 1–5 against peer lenders
Pricing
Sound
3/5
vs. all lenders
Pull-through
Strong
4/5
closing strength
Product
Strong
4/5
FHA · Conventional · Jumbo
Place
Sound
3/5
Near-National · 14 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Awards
Conventional
Superstar
Refinance
Superstar
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and Jumbo loans
- Nationwide availability with consistent service
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Report Card
Merchants Bank of Indiana performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Sound
+16.9 bps above market avg
3/5
Pull Through
Closing strength
Strong
Top 40% of lenders
4/5
By Loan Product· Specialization by type
Conventional
703 loans · 0.16% above market
Strong
Top 40% of lenders
4/5
FHA
54 loans · 0.54% above market
Sound
Top 60% of lenders
3/5
Jumbo
20 loans · 0.33% below market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
669 loans · 0.18% above market
Sound
Top 60% of lenders
3/5
Refinance
118 loans · 0.08% above market
Sound
Top 60% of lenders
3/5
By Location· Geographic coverage
Geographic Reach
Near-National · 15 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 | 703 | 89.3% | +0.162%Above | $1,817Fees | ||||
FHA Loans | 54 | 6.9% | +0.542%Above | $1,783Fees | ||||
Jumbo Loans | — | 20 | 2.5% | -0.329%Below | $382Fees |
Conventional
OverallSound
ProductStrong
PricingSound
Pull ThroughSound
Volume703
Mix89.3%
Spread
+0.162%Above
Fees
$1,817Fees
FHA Loans
OverallSound
ProductSound
PricingSound
Pull ThroughSound
Volume54
Mix6.9%
Spread
+0.542%Above
Fees
$1,783Fees
Jumbo Loans
OverallStrong
ProductStrong
Pricing—
Pull ThroughExceptional
Volume20
Mix2.5%
Spread
-0.329%Below
Fees
$382Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 669 | 85.0% | +0.185%Above | $1,928Fees | ||||
Refinance | 118 | 15.0% | +0.084%Above | $1,005Fees |
Purchase
OverallSound
ProductSound
PricingSound
Pull ThroughSound
Volume669
Mix85.0%
Spread
+0.185%Above
Fees
$1,928Fees
Refinance
OverallSound
ProductSound
PricingStrong
Pull ThroughStrong
Volume118
Mix15.0%
Spread
+0.084%Above
Fees
$1,005Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
787
Applications
1,070
Volume
$286 million
Pricing & Closing
Avg Rate Spread
+0.169%
vs. market APOR
Avg Net Fees
$1,783
Origination − Credits
Pullthrough Rate
73.6%
Applications → Closed
Typical Borrower
Avg Loan Amount
$364,276
Avg Borrower Income
$147,180
Avg Property Value
$474,886
Geographic Coverage
Geographic Performance
Metro Areas
14
markets with activity
States Served
26
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
26Full-year 2024 · HMDALoans originated
< 2020–5050+None
Northeast4
CTMANJPA
Midwest9
ILINKSMIMNMONEOHWI
South13
ALARDCFLGAKYLAMDMSNCSCTXVA
Top Metro Areas by Place Specialization Score
Showing 10 of 14 metro areas
Top States by Place Specialization Score
Showing 10 of 14 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.