BAY FEDERAL CREDIT UNION
CAPITOLA, CA
BAY FEDERAL CREDIT UNION processed 725 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 435 loans with a 18.3% denial rate. Cash-out Refinancing was the primary loan purpose. Based in CAPITOLA, CA. The approval rate of 60.0% 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. BAY FEDERAL CREDIT UNION processed 725 HMDA-reported mortgage applications in 2024, originating 435 loans and denying 133 for a denial rate of 18.3% (applicants themselves withdrew 105 files before a decision). The average loan amount was $273,097 at a 8.022% average note rate, and applicants self-reported an average income of $38,000. The lender reports under LEI 549300KZC4KKV3F7W494 from CAPITOLA, CA.
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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. BAY FEDERAL CREDIT UNION's 60.0% origination rate tells you how often an application turned into funded money; the 18.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (725 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.
Lending Activity
| Type | Applications | Originated | Denied | Avg Loan |
|---|---|---|---|---|
| Conventional | 725 | 435 | 133 | $273,097 |
Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for BAY FEDERAL CREDIT UNION (LEI: 549300KZC4KKV3F7W494) · 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
Loan Purpose Breakdown
| Purpose | Applications | Originated | Avg Loan |
|---|---|---|---|
| Cash-out Refinancing | 451 | 243 | $165,067 |
| Home Purchase | 191 | 142 | $547,408 |
| Refinancing | 81 | 49 | $230,062 |
| Home Improvement | 2 | 1 | $180,000 |
Geographic Coverage — Lending by Race
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 488 | 64.5% | 16.6% |
| Joint | 25 | 68.0% | 20.0% |
| Asian | 16 | 37.5% | 37.5% |
| American Indian or Alaska Native | 3 | 0.0% | 100.0% |
| Black or African American | 3 | 66.7% | 33.3% |
| 2 or more minority races | 1 | 100.0% | 0.0% |
| Native Hawaiian or Other Pacific Islander | 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 | 422 | 63.3% | 17.1% |
| Hispanic or Latino | 152 | 48.7% | 27.6% |
| Joint | 37 | 78.4% | 13.5% |
Nearby Lenders in CA
Other HMDA-reporting lenders in CA with similar activity. Compare any two side-by-side.
PENNYMAC LOAN SERVICES LLC
WESTLAKE VILLAGE, CA
Bank of America NA
Westlake Village, CA
AmeriHome Mortgage Company, LLC
Thousand Oaks, CA
LOANDEPOT.COM, LLC
IRVINE, CA
NEW AMERICAN FUNDING, LLC.
TUSTIN, CA
Mortgage Lending Guides
Frequently Asked Questions
How many mortgage applications did BAY FEDERAL CREDIT UNION process?
What is BAY FEDERAL CREDIT UNION's mortgage approval rate?
What is the average loan amount at BAY FEDERAL CREDIT UNION?
What are the most common reasons for mortgage denial at BAY FEDERAL CREDIT UNION?
What types of mortgage loans does BAY FEDERAL CREDIT UNION offer?
What loan purposes does BAY FEDERAL CREDIT UNION serve?
Where is BAY FEDERAL CREDIT UNION located?
How does BAY FEDERAL CREDIT UNION compare in lending across racial demographics?
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.