We analyzed every closed loan from Open Mortgage — 694 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
Acceptable
2/5
closing strength
Product
Strong
4/5
FHA · Conventional · VA · USDA
Place
Sound
3/5
Near-National · 13 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 85 basis points above market average
- Higher than average fees ($4,186)
- Pull through efficiency is below industry average
Explore another lender or local market
Report Card
Open Mortgage performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+85.1 bps above market avg
1/5
Pull Through
Closing strength
Acceptable
Bottom 40% of lenders
2/5
By Loan Product· Specialization by type
Conventional
208 loans · 0.62% above market
Sound
Top 60% of lenders
3/5
FHA
431 loans · 1.02% above market
Strong
Top 40% of lenders
4/5
VA
32 loans · 0.11% below market
Sound
Top 60% of lenders
3/5
USDA
15 loans · 0.85% above market
Sound
Top 60% of lenders
3/5
By Loan Purpose· Transaction purpose mix
Purchase
605 loans · 0.90% above market
Sound
Top 60% of lenders
3/5
Refinance
89 loans · 0.43% above market
Sound
Top 60% of lenders
3/5
By Location· Geographic coverage
Geographic Reach
Near-National · 14 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 | 208 | 30.0% | +0.621%Above | $4,291Fees | ||||
FHA Loans | 431 | 62.1% | +1.019%Above | $4,226Fees | ||||
VA Loans | 32 | 4.6% | -0.107%Below | $3,481Fees | ||||
USDA Loans | — | 15 | 2.2% | +0.851%Above | $2,443Fees |
Conventional
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume208
Mix30.0%
Spread
+0.621%Above
Fees
$4,291Fees
FHA Loans
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume431
Mix62.1%
Spread
+1.019%Above
Fees
$4,226Fees
VA Loans
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume32
Mix4.6%
Spread
-0.107%Below
Fees
$3,481Fees
USDA Loans
OverallAcceptable
ProductSound
Pricing—
Pull ThroughMediocre
Volume15
Mix2.2%
Spread
+0.851%Above
Fees
$2,443Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 605 | 87.2% | +0.901%Above | $4,343Fees | ||||
Refinance | 89 | 12.8% | +0.430%Above | $2,884Fees |
Purchase
OverallAcceptable
ProductSound
PricingMediocre
Pull ThroughAcceptable
Volume605
Mix87.2%
Spread
+0.901%Above
Fees
$4,343Fees
Refinance
OverallAcceptable
ProductSound
PricingAcceptable
Pull ThroughAcceptable
Volume89
Mix12.8%
Spread
+0.430%Above
Fees
$2,884Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
694
Applications
1,827
Volume
$305 million
Pricing & Closing
Avg Rate Spread
+0.851%
vs. market APOR
Avg Net Fees
$4,186
Origination − Credits
Pullthrough Rate
38.0%
Applications → Closed
Typical Borrower
Avg Loan Amount
$440,144
Avg Borrower Income
$148,862
Avg Property Value
$511,210
Geographic Coverage
Geographic Performance
Metro Areas
13
markets with activity
States Served
36
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
36Full-year 2024 · HMDALoans originated
< 2020–5050+None
Northeast3
MENJPA
Midwest10
ILINKSMIMNMONDNEOHSD
South14
ALARFLGAKYLAMDMSNCOKSCTNTXVA
West9
AZCACONMNVORUTWAWY
Top Metro Areas by Place Specialization Score
10© No machine-readable author provided. Billy Hathorn assumed (based on copyright claims). · CC BY-SA 3.0Fort Worth, TXMetro
Volume 13Mix 1.87% of portfolio
43/100
SoundShowing 10 of 13 metro areas
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.
Looking for a different lender?
Are you the owner of Open Mortgage?
Claim this profile to add your business logo, highlight verified loan officers, collect verified reviews, and customize your marketing presence.
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.