Sovereign Bank has 350 closed loans in our dataset — fully analyzed and benchmarked against peers 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 · VA
Place
Exceptional
5/5
Multi-Region · 2 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Awards
Conventional
Superstar
FHA
Superstar
VA
Superstar
Purchase
Superstar
Refinance
Superstar
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in FHA and VA loans
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Report Card
Sovereign Bank performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Sound
+33.9 bps above market avg
3/5
Pull Through
Closing strength
Strong
Top 40% of lenders
4/5
By Loan Product· Specialization by type
Conventional
195 loans · 0.24% above market
Sound
Top 60% of lenders
3/5
FHA
103 loans · 0.78% above market
Strong
Top 40% of lenders
4/5
VA
48 loans · 0.25% below market
Strong
Top 40% of lenders
4/5
By Loan Purpose· Transaction purpose mix
Purchase
323 loans · 0.36% above market
Strong
Top 40% of lenders
4/5
Refinance
27 loans · 0.07% above market
Acceptable
Bottom 40% of lenders
2/5
By Location· Geographic coverage
Geographic Reach
Multi-Regional · 3 markets
Strong
Top 40% of lenders
4/5
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 195 | 55.7% | +0.239%Above | $2,038Fees | ||||
FHA Loans | 103 | 29.4% | +0.783%Above | $1,663Fees | ||||
VA Loans | 48 | 13.7% | -0.250%Below | $2,397Fees |
Conventional
OverallStrong
ProductSound
PricingSound
Pull ThroughStrong
Volume195
Mix55.7%
Spread
+0.239%Above
Fees
$2,038Fees
FHA Loans
OverallStrong
ProductStrong
PricingSound
Pull ThroughExceptional
Volume103
Mix29.4%
Spread
+0.783%Above
Fees
$1,663Fees
VA Loans
OverallStrong
ProductStrong
PricingSound
Pull ThroughExceptional
Volume48
Mix13.7%
Spread
-0.250%Below
Fees
$2,397Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 323 | 92.3% | +0.361%Above | $1,965Fees | ||||
Refinance | 27 | 7.7% | +0.069%Above | $2,092Fees |
Purchase
OverallStrong
ProductStrong
PricingSound
Pull ThroughStrong
Volume323
Mix92.3%
Spread
+0.361%Above
Fees
$1,965Fees
Refinance
OverallSound
ProductAcceptable
PricingStrong
Pull ThroughStrong
Volume27
Mix7.7%
Spread
+0.069%Above
Fees
$2,092Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
350
Applications
405
Volume
$95 million
Pricing & Closing
Avg Rate Spread
+0.339%
vs. market APOR
Avg Net Fees
$1,975
Origination − Credits
Pullthrough Rate
86.4%
Applications → Closed
Typical Borrower
Avg Loan Amount
$273,829
Avg Borrower Income
$141,169
Avg Property Value
$348,943
Geographic Coverage
Geographic Performance
Metro Areas
2
markets with activity
States Served
6
of 50 states + DC
Avg Place Specialization
Exceptional
5/5
States with Loan Originations
6Full-year 2024 · HMDALoans originated
All statesNone
Midwest3
MOOHWI
South3
FLOKTX
Top Metro Areas by Place Specialization Score
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.