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 | REGIONS BANK | Bank Independent |
|---|---|---|
| Total Applications | 70,436 ▲ | 1,114 |
| Loans Originated | 29,337 | 862 |
| Approval Rate (higher is better) | 41.7% | 77.4% ✓ |
| Denial Rate (lower is better) | 39.6% | 9.2% ✓ |
| Avg Loan Amount | $210,253 | $179,910 |
| Avg Interest Rate (lower is better) | 7.638% ✓ | 7.801% |
| Avg Applicant Income | $36,000 | $33,000 |
| Applications Denied | 27,880 | 102 |
| Applications Withdrawn | 3,874 | 118 |
✓ Better indicates the more favorable value for borrowers. Data: CFPB HMDA 2023.
Loan Type Mix
| Loan Type | REGIONS BANK | Bank Independent |
|---|---|---|
| Conventional | 65,732 (93.3%) | 1,047 (94.0%) |
| FHA | 3,769 (5.4%) | 44 (3.9%) |
| VA | 673 (1.0%) | 16 (1.4%) |
| USDA | 262 (0.4%) | 7 (0.6%) |
Loan Purpose Breakdown
| Purpose | REGIONS BANK | Bank Independent |
|---|---|---|
| Home Improvement | 23,062 | 90 |
| Other | 18,762 | 161 |
| Home Purchase | 15,087 | 461 |
| Refinancing | 10,817 | 373 |
| Cash-out Refinancing | 2,707 | 29 |
Top States by Loan Volume
Summary
- 70,436 total applications · 29,337 originated
- Approval rate: 41.7%
- Denial rate: 39.6%
- Avg loan: $210,253
- Avg rate: 7.638%
- HQ: BIRMINGHAM, AL
- 1,114 total applications · 862 originated
- Approval rate: 77.4%
- Denial rate: 9.2%
- Avg loan: $179,910
- Avg rate: 7.801%
- HQ: Sheffield, AL
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 Rates do not sum to 100% because HMDA also records withdrawn, incomplete, and approved-but-not-accepted outcomes.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.