Compare Mortgage Lenders
Select two lenders to compare side by side using 2023 HMDA federal data: approval rates, denial rates, loan sizes, loan types, and geographic reach.
Key Metrics
| Metric | NEWREZ LLC | FIRST MERCHANTS BANK |
|---|---|---|
| Total Applications | 248,242 ▲ | 8,454 |
| Loans Originated | 52,121 | 5,503 |
| Approval Rate (higher is better) | 21.0% | 65.1% ✓ |
| Denial Rate (lower is better) | 11.5% ✓ | 16.4% |
| Avg Loan Amount | $328,825 | $248,384 |
| Avg Interest Rate (lower is better) | 6.987% | 6.880% ✓ |
| Avg Applicant Income | $39,000 | $34,000 |
| Applications Denied | 28,631 | 1,382 |
| Applications Withdrawn | 37,001 | 1,027 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | NEWREZ LLC | FIRST MERCHANTS BANK |
|---|---|---|
| Conventional | 150,684 (60.7%) | 8,165 (96.6%) |
| FHA | 57,012 (23.0%) | 247 (2.9%) |
| VA | 37,471 (15.1%) | 30 (0.4%) |
| USDA | 3,075 (1.2%) | 12 (0.1%) |
Loan Purpose Breakdown
| Purpose | NEWREZ LLC | FIRST MERCHANTS BANK |
|---|---|---|
| Home Purchase | 129,324 | 3,154 |
| Cash-out Refinancing | 85,870 | 336 |
| Refinancing | 32,788 | 1,997 |
| Home Improvement | 140 | 876 |
| Other | 120 | 2,091 |
Top States by Loan Volume
Summary
- 248,242 total applications · 52,121 originated
- Approval rate: 21.0%
- Denial rate: 11.5%
- Avg loan: $328,825
- Avg rate: 6.987%
- HQ: FORT WASHINGTON, PA
- 8,454 total applications · 5,503 originated
- Approval rate: 65.1%
- Denial rate: 16.4%
- Avg loan: $248,384
- Avg rate: 6.880%
- HQ: MUNCIE, IN
Methodology
Comparisons are drawn from the CFPB 2024 HMDA Snapshot National Loan-Level Dataset, published by the Consumer Financial Protection Bureau and distributed via the FFIEC. Every figure on this page comes from lenders' mandatory HMDA filings — not voluntary marketing claims.
Approval (origination) rate = originated ÷ total applications. Denial rate = denied ÷ total applications. Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes. Denial rates reflect a lender's applicant mix as much as its underwriting stance; compare alongside loan-type mix and geography before drawing conclusions.
Side-by-side comparisons are informational only and do not constitute financial, legal, or mortgage advice. Always obtain and compare written Loan Estimates before applying.