PlainLender

BankNewport

Middletown, RI

BankNewport processed 1,304 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 691 loans with a 11.3% denial rate. Home Purchase was the primary loan purpose. Based in Middletown, RI. The approval rate of 53.0% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. BankNewport processed 1,304 HMDA-reported mortgage applications in 2024, originating 691 loans and denying 148 for a denial rate of 11.3% (applicants themselves withdrew 103 files before a decision). The average loan amount was $381,288 at a 6.962% average note rate, and applicants self-reported an average income of $38,000. The lender reports under LEI 549300RYJCJ7JPQ4RF20 from Middletown, RI.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. BankNewport's 53.0% origination rate tells you how often an application turned into funded money; the 11.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,232 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,304
Applications
691
Originated
11.3%
Denial Rate
$381,288
Avg Loan Amount
Avg Interest Rate: 6.962% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,232 683 146 $378,742
FHA 71 8 2 $425,141
VA 1 0 0 $405,000

Top loan types — BankNewport

Top loan types — BankNewport Horizontal bar chart of the top 3 items by value (applications). Top loan types — BankNewport Top 3 1. Conventional 1,232 2. FHA 71 3. VA 1 Top 5 loan types by application volume at BankNewport (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for BankNewport (LEI: 549300RYJCJ7JPQ4RF20) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
72
Credit history
44
Collateral
26
Other
15
Credit application incomplete
7
Unverifiable information
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 657 257 $507,451
Home Improvement 300 202 $163,200
Cash-out Refinancing 192 133 $280,677
Other 100 63 $187,500
Refinancing 55 36 $767,364

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 968 54.2% 11.5%
Black or African American 43 32.6% 27.9%
Asian 36 41.7% 11.1%
Joint 23 65.2% 0.0%
American Indian or Alaska Native 5 0.0% 20.0%
Native Hawaiian or Other Pacific Islander 2 50.0% 50.0%
2 or more minority races 1 100.0% 0.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 980 54.0% 10.9%
Hispanic or Latino 98 35.7% 22.4%
Joint 18 38.9% 11.1%

Nearby Lenders in RI

Other HMDA-reporting lenders in RI with similar activity. Compare any two side-by-side.

CBNA Year to Date

Providence, RI

116,492 apps 55,183 originated 26.6% denied

Embrace Home Loans, Inc.

Middletown, RI

7,798 apps 4,738 originated 6.8% denied

BEELINE LOANS, INC.

PROVIDENCE, RI

4,692 apps 320 originated 42.4% denied

Navigant Credit Union

Smithfield, RI

3,426 apps 2,143 originated 19.2% denied

COASTAL1 CREDIT UNION

PAWTUCKET, RI

2,133 apps 1,456 originated 24.1% denied
Compare BankNewport vs CBNA Year to Date →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did BankNewport process?
BankNewport processed 1,304 mortgage applications in the 2023 HMDA reporting year. Of these, 691 were originated (approved and funded), 103 were withdrawn by the applicant, and 148 were denied.
What is BankNewport's mortgage approval rate?
BankNewport has an approval (origination) rate of 53.0%, meaning 53.0% of all applications resulted in a funded mortgage. The denial rate is 11.3%.
What is the average loan amount at BankNewport?
The average mortgage loan amount at BankNewport is $381,288. The average interest rate is 6.962%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at BankNewport?
The most common reasons for mortgage denial at BankNewport are: Debt-to-income ratio, Credit history, Collateral. In total, 148 applications were denied out of 1,304 total applications.
What types of mortgage loans does BankNewport offer?
BankNewport processes Conventional, FHA, VA loans. The most common type is Conventional with 1,232 applications and an average loan amount of $378,742.
What loan purposes does BankNewport serve?
BankNewport serves the following loan purposes: Home Purchase (657 applications), Home Improvement (300 applications), Cash-out Refinancing (192 applications), Other (100 applications), Refinancing (55 applications). Home Purchase is the most common purpose.
Where is BankNewport located?
BankNewport is headquartered in Middletown, RI. The lender is identified by LEI 549300RYJCJ7JPQ4RF20 in HMDA data.
How does BankNewport compare in lending across racial demographics?
BankNewport reports demographic lending data under HMDA requirements. White applicants have an approval rate of 54.2% and denial rate of 11.5%; Black or African American applicants have an approval rate of 32.6% and denial rate of 27.9%; Asian applicants have an approval rate of 41.7% and denial rate of 11.1%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.