PlainLender

BUSEY BANK

CHAMPAIGN, IL

BUSEY BANK processed 2,083 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,486 loans with a 11.5% denial rate. Home Purchase was the primary loan purpose. Based in CHAMPAIGN, IL. The approval rate of 71.3% 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. BUSEY BANK processed 2,083 HMDA-reported mortgage applications in 2024, originating 1,486 loans and denying 239 for a denial rate of 11.5% (applicants themselves withdrew 273 files before a decision). The average loan amount was $201,241 at a 7.552% average note rate, and applicants self-reported an average income of $34,000. The lender reports under LEI 549300O7SGM8FH65GQ47 from CHAMPAIGN, IL.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. BUSEY BANK's 71.3% origination rate tells you how often an application turned into funded money; the 11.5% 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, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (2,019 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.

2,083
Applications
1,486
Originated
11.5%
Denial Rate
$201,241
Avg Loan Amount
Avg Interest Rate: 7.552% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 2,019 1,440 227 $202,192
FHA 51 34 11 $159,118
VA 9 9 0 $252,778
USDA 4 3 1 $142,500

Top loan types — BUSEY BANK

Top loan types — BUSEY BANK Horizontal bar chart of the top 4 items by value (applications). Top loan types — BUSEY BANK Top 4 1. Conventional 2,019 2. FHA 51 3. VA 9 4. USDA 4 Top 5 loan types by application volume at BUSEY BANK (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 BUSEY BANK (LEI: 549300O7SGM8FH65GQ47) · 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
121
Credit history
89
Other
37
Collateral
33
Employment history
10
Insufficient cash
4
Unverifiable information
4
Credit application incomplete
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 999 778 $295,110
Home Improvement 336 247 $89,643
Refinancing 329 224 $136,459
Other 300 159 $98,333
Cash-out Refinancing 119 78 $166,849

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,624 73.3% 9.7%
Black or African American 102 67.7% 21.6%
Asian 82 64.6% 15.8%
Joint 23 82.6% 8.7%
American Indian or Alaska Native 2 50.0% 50.0%

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 1,567 73.3% 10.2%
Hispanic or Latino 307 67.1% 15.0%
Joint 20 80.0% 10.0%

Nearby Lenders in IL

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

GUARANTEED RATE, INC.

CHICAGO, IL

124,492 apps 62,820 originated 5.1% denied

BMO Harris Bank NA

Chicago, IL

42,165 apps 18,166 originated 29.4% denied

Mutual of Omaha Mortgage

Lombard, IL

34,393 apps 19,951 originated 20.2% denied

GUARANTEED RATE AFFINITY, LLC

CHICAGO, IL

21,826 apps 14,587 originated 6.0% denied

THE FEDERAL SAVINGS BANK

CHICAGO, IL

20,656 apps 8,146 originated 9.3% denied
Compare BUSEY BANK vs GUARANTEED RATE, INC. →

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

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Frequently Asked Questions

How many mortgage applications did BUSEY BANK process?
BUSEY BANK processed 2,083 mortgage applications in the 2023 HMDA reporting year. Of these, 1,486 were originated (approved and funded), 273 were withdrawn by the applicant, and 239 were denied.
What is BUSEY BANK's mortgage approval rate?
BUSEY BANK has an approval (origination) rate of 71.3%, meaning 71.3% of all applications resulted in a funded mortgage. The denial rate is 11.5%.
What is the average loan amount at BUSEY BANK?
The average mortgage loan amount at BUSEY BANK is $201,241. The average interest rate is 7.552%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at BUSEY BANK?
The most common reasons for mortgage denial at BUSEY BANK are: Debt-to-income ratio, Credit history, Other. In total, 239 applications were denied out of 2,083 total applications.
What types of mortgage loans does BUSEY BANK offer?
BUSEY BANK processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 2,019 applications and an average loan amount of $202,192.
What loan purposes does BUSEY BANK serve?
BUSEY BANK serves the following loan purposes: Home Purchase (999 applications), Home Improvement (336 applications), Refinancing (329 applications), Other (300 applications), Cash-out Refinancing (119 applications). Home Purchase is the most common purpose.
Where is BUSEY BANK located?
BUSEY BANK is headquartered in CHAMPAIGN, IL. The lender is identified by LEI 549300O7SGM8FH65GQ47 in HMDA data.
How does BUSEY BANK compare in lending across racial demographics?
BUSEY BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 73.3% and denial rate of 9.7%; Black or African American applicants have an approval rate of 67.7% and denial rate of 21.6%; Asian applicants have an approval rate of 64.6% and denial rate of 15.8%. 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.