Southwest Funding
We analyzed every closed loan from Southwest Funding — 1.8k loans across 3k 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
Strong
4/5
closing strength
Product
Exceptional
5/5
FHA · Conventional · VA · USDA
Place
Sound
3/5
Near-National · 36 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Awards
VA
Superstar
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in FHA and VA and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 82 basis points above market average
- Higher than average fees ($4,317)
Explore another lender or local market
Report Card
Southwest Funding performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+81.8 bps above market avg
1/5
Pull Through
Closing strength
Strong
Top 40% of lenders
4/5
By Loan Product· Specialization by type
Conventional
647 loans · 0.60% above market
Sound
Top 60% of lenders
3/5
FHA
927 loans · 1.11% above market
Exceptional
Top 20% of lenders
5/5
VA
202 loans · 0.16% below market
Strong
Top 40% of lenders
4/5
USDA
39 loans · 0.76% above market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
1,623 loans · 0.90% above market
Strong
Top 40% of lenders
4/5
Refinance
197 loans · 0.33% above market
Sound
Top 60% of lenders
3/5
By Location· Geographic coverage
Geographic Reach
Near-National · 37 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 | 647 | 35.5% | +0.599%Above | $4,490Fees | ||||
FHA Loans | 927 | 50.9% | +1.114%Above | $4,297Fees | ||||
VA Loans | 202 | 11.1% | -0.163%Below | $3,667Fees | ||||
USDA Loans | — | 39 | 2.1% | +0.757%Above | $3,010Fees |
Conventional
OverallSound
ProductSound
PricingMediocre
Pull ThroughSound
Volume647
Mix35.5%
Spread
+0.599%Above
Fees
$4,490Fees
FHA Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume927
Mix50.9%
Spread
+1.114%Above
Fees
$4,297Fees
VA Loans
OverallStrong
ProductStrong
PricingAcceptable
Pull ThroughStrong
Volume202
Mix11.1%
Spread
-0.163%Below
Fees
$3,667Fees
USDA Loans
OverallStrong
ProductStrong
Pricing—
Pull ThroughSound
Volume39
Mix2.1%
Spread
+0.757%Above
Fees
$3,010Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 1,623 | 89.2% | +0.900%Above | $4,430Fees | ||||
Refinance | 197 | 10.8% | +0.328%Above | $3,645Fees |
Purchase
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume1,623
Mix89.2%
Spread
+0.900%Above
Fees
$4,430Fees
Refinance
OverallSound
ProductSound
PricingAcceptable
Pull ThroughStrong
Volume197
Mix10.8%
Spread
+0.328%Above
Fees
$3,645Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
1,820
Applications
2,510
Volume
$505 million
Pricing & Closing
Avg Rate Spread
+0.818%
vs. market APOR
Avg Net Fees
$4,317
Origination − Credits
Pullthrough Rate
72.5%
Applications → Closed
Typical Borrower
Avg Loan Amount
$277,632
Avg Borrower Income
$108,232
Avg Property Value
$315,143
Geographic Coverage
Geographic Performance
Metro Areas
36
markets with activity
States Served
25
of 50 states + DC
Avg Place Specialization
Sound
3/5
States with Loan Originations
25Full-year 2024 · HMDALoans originated
< 2020–5050–100100+None
Northeast1
PA
Midwest7
IAILINMIMONEOH
South11
ALARFLGAKYLAMSOKSCTNTX
West6
AZCOMTNMORWA
Top Metro Areas by Place Specialization Score
4© No machine-readable author provided. Billy Hathorn assumed (based on copyright claims). · CC BY-SA 3.0Fort Worth, TXMetro
Volume 104Mix 5.71% of portfolio
69/100
Strong
Showing 10 of 36 metro areas
Top States by Place Specialization Score
Showing 10 of 18 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.