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We analyzed every closed loan from Mortgage 1 Incorporated — 3.5k loans across 4k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Acceptable
vs. all lenders
Pull Through
Exceptional
closing strength
Products
Exceptional
FHA · Conventional · VA · USDA
Place
Strong
Multi-Region · 15 mkts
Safe Rate Awards⭐Conventional Superstar⭐Purchase Superstar
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Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and USDA loans
Things to Think About
- Rates typically 55 basis points above market average
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Report Card
Mortgage 1 Incorporated performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Near industry average +54.8 bps above market avg | |
Pull Through Closing strength | Market Leader Top 20% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Market Leader Top 20% of lenders | |
FHA | Market Leader Top 20% of lenders | |
VA | Highly Competitive Top 40% of lenders | |
USDA | Market Leader Top 20% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Market Leader Top 20% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Highly Competitive Top 40% of lenders Multi-Regional16 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 2,568 | 74.1% | +0.505%Above | $2,528Fees | ||||
FHA Loans | 695 | 20.1% | +0.909%Above | $3,808Fees | ||||
VA Loans | 150 | 4.3% | +0.010%Above | $2,881Fees | ||||
USDA Loans | — | 47 | 1.4% | +0.530%Above | $3,139Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 3,078 | 88.8% | +0.554%Above | $2,760Fees | ||||
Refinance | 387 | 11.2% | +0.511%Above | $2,557Fees |
At a Glance
Lender Overview
Lending Activity
Loans Originated
3,465
Applications
4,483
Volume
$819 million
Pricing & Closing
Avg Rate Spread
+0.548%
vs. market APOR
Avg Net Fees
$2,732
Origination − Credits
Pullthrough Rate
77.3%
Applications → Closed
Typical Borrower
Avg Loan Amount
$236,405
Avg Borrower Income
$106,453
Avg Property Value
$291,531
Geographic Coverage
Geographic Performance
Metro Areas
15
States Served
9
We count Washington DC as a state
Avg Place Specialization
States with Loan Originations
CAFLILINKYMIMTOHTX
Top Metro Areas by Place Specialization Score
1
Muskegon, MIMSA
Volume: 265Mix: 7.65%of portfolio
Place
Exceptional2
Warren, MIMSA
Volume: 1,181Mix: 34.08%of portfolio
Place
Exceptional3
Detroit, MIMSA
Volume: 448Mix: 12.93%of portfolio
Place
Exceptional4
Jackson, MI, MIMSA
Volume: 80Mix: 2.31%of portfolio
Place
Exceptional5
Ann Arbor, MI, MIMSA
Volume: 106Mix: 3.06%of portfolio
Place
Exceptional6
Grand Rapids, MIMSA
Volume: 356Mix: 10.27%of portfolio
Place
Strong7
Monroe, MI, MIMSA
Volume: 65Mix: 1.88%of portfolio
Place
Strong8
Cape Coral, FLMSA
Volume: 166Mix: 4.79%of portfolio
Place
Strong9
Flint, MI, MIMSA
Volume: 95Mix: 2.74%of portfolio
Place
Strong10
Saginaw, MI, MIMSA
Volume: 35Mix: 1.01%of portfolio
Place
StrongShowing 10 of 15 metro areas
Top States by Place Specialization Score
1
MIState
Volume: 3,179Mix: 91.75%of portfolio
Place
Exceptional2
FLState
Volume: 224Mix: 6.46%of portfolio
Place
Strong3
MTState
Volume: 18Mix: 0.52%of portfolio
Place
Sound4
OHState
Volume: 22Mix: 0.63%of portfolio
Place
Sound5
CAState
Volume: 10Mix: 0.29%of portfolio
Place
AcceptableHow We Rank Lenders
Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.
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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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
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.