Waterstone Mortgage Corporation
We analyzed every closed loan from Waterstone Mortgage Corporation — 6.3k loans across 9k 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 · Jumbo · USDA
Place
Strong
4/5
National · 49 mkts
Promptness
Not enough data
—/5
No quote responses measured yet
Awards
FHA
Superstar
Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 51 basis points above market average
- Higher than average fees ($4,303)
Explore another lender or local market
Report Card
Waterstone Mortgage Corporation performance at a glance
Overall Performance· Pricing & closing strength
Pricing
Rate competitiveness
Mediocre
+50.5 bps above market avg
1/5
Pull Through
Closing strength
Strong
Top 40% of lenders
4/5
By Loan Product· Specialization by type
Conventional
3,951 loans · 0.44% above market
Exceptional
Top 20% of lenders
5/5
FHA
1,692 loans · 0.86% above market
Exceptional
Top 20% of lenders
5/5
VA
564 loans · 0.01% below market
Exceptional
Top 20% of lenders
5/5
Jumbo
58 loans · 0.40% above market
Strong
Top 40% of lenders
4/5
USDA
57 loans · 0.45% above market
Exceptional
Top 20% of lenders
5/5
By Loan Purpose· Transaction purpose mix
Purchase
5,844 loans · 0.51% above market
Exceptional
Top 20% of lenders
5/5
Refinance
478 loans · 0.41% above market
Strong
Top 40% of lenders
4/5
By Location· Geographic coverage
Geographic Reach
National · 50 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 | 3,951 | 62.5% | +0.440%Above | $4,159Fees | ||||
FHA Loans | 1,692 | 26.8% | +0.862%Above | $4,635Fees | ||||
VA Loans | 564 | 8.9% | -0.010%Below | $4,748Fees | ||||
Jumbo Loans | 58 | 0.9% | +0.404%Above | $3,109Fees | ||||
USDA Loans | 57 | 0.9% | +0.454%Above | $3,772Fees |
Conventional
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume3,951
Mix62.5%
Spread
+0.440%Above
Fees
$4,159Fees
FHA Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughExceptional
Volume1,692
Mix26.8%
Spread
+0.862%Above
Fees
$4,635Fees
VA Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume564
Mix8.9%
Spread
-0.010%Below
Fees
$4,748Fees
Jumbo Loans
OverallSound
ProductStrong
PricingAcceptable
Pull ThroughSound
Volume58
Mix0.9%
Spread
+0.404%Above
Fees
$3,109Fees
USDA Loans
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume57
Mix0.9%
Spread
+0.454%Above
Fees
$3,772Fees
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 5,844 | 92.4% | +0.514%Above | $4,307Fees | ||||
Refinance | 478 | 7.6% | +0.408%Above | $4,254Fees |
Purchase
OverallSound
ProductExceptional
PricingMediocre
Pull ThroughStrong
Volume5,844
Mix92.4%
Spread
+0.514%Above
Fees
$4,307Fees
Refinance
OverallSound
ProductStrong
PricingMediocre
Pull ThroughSound
Volume478
Mix7.6%
Spread
+0.408%Above
Fees
$4,254Fees
At a Glance
Lender Overview
Lending Activity
Loans Originated
6,322
Applications
8,642
Volume
$2 billion
Pricing & Closing
Avg Rate Spread
+0.505%
vs. market APOR
Avg Net Fees
$4,303
Origination − Credits
Pullthrough Rate
73.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$321,787
Avg Borrower Income
$131,102
Avg Property Value
$403,749
Geographic Coverage
Geographic Performance
Metro Areas
49
markets with activity
States Served
48
of 50 states + DC
Avg Place Specialization
Strong
4/5
States with Loan Originations
48Full-year 2024 · HMDALoans originated
< 2020–5050–100100–200200+None
Northeast8
CTMEMANHNJPARIVT
Midwest12
IAILINKSMIMNMONDNEOHSDWI
South17
ALARDCDEFLGAKYLAMDMSNCOKSCTNTXVAWV
West11
AKAZCACOIDMTNMNVORUTWA
Top Metro Areas by Place Specialization Score
Showing 10 of 49 metro areas
Top States by Place Specialization Score
Showing 10 of 35 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.