PlainLender

Cathay Bank

LOS ANGELES, CA

Cathay Bank processed 1,693 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,209 loans with a 7.5% denial rate. Home Purchase was the primary loan purpose. Based in LOS ANGELES, CA. The approval rate of 71.4% reflects originated loans as a share of all applications.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Cathay Bank's 71.4% origination rate tells you how often an application turned into funded money; the 7.5% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,693 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.

1,693
Applications
1,209
Originated
7.5%
Denial Rate
$774,959
Avg Loan Amount
Avg Interest Rate: 7.004% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,693 1,209 127 $774,959

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Cathay Bank (LEI: FT6J43S06X6CLJ0R0B48) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Other
57
Credit history
52
Collateral
50
Insufficient cash
9
Unverifiable information
7
Debt-to-income ratio
5
Credit application incomplete
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 1,410 1,014 $681,511
Refinancing 136 93 $1,470,735
Cash-out Refinancing 136 92 $1,075,441
Home Improvement 11 10 $435,909

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
Asian 1,236 69.9% 8.8%
White 86 37.2% 4.7%
Black or African American * 13 30.8% 0.0%
Joint * 4 25.0% 0.0%
American Indian or Alaska Native * 1 100.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

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 1,293 67.7% 8.5%
Hispanic or Latino * 44 77.3% 2.3%
Joint * 3 66.7% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

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

384,816 apps 67,294 originated 4.7% denied

Bank of America NA

Westlake Village, CA

233,637 apps 83,165 originated 34.6% denied

AmeriHome Mortgage Company, LLC

Thousand Oaks, CA

149,937 apps 6,250 originated 0.8% denied

Loandepot.Com, LLC

IRVINE, CA

142,924 apps 79,418 originated 23.3% denied

New American Funding, LLC.

TUSTIN, CA

118,479 apps 48,639 originated 11.1% denied
Compare Cathay Bank vs Pennymac Loan Services LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Cathay Bank process?
Cathay Bank processed 1,693 mortgage applications in the 2024 HMDA reporting year. Of these, 1,209 were originated (approved and funded), 135 were withdrawn by the applicant, and 127 were denied.
What is Cathay Bank's mortgage approval rate?
Cathay Bank has an approval (origination) rate of 71.4%, meaning 71.4% of all applications resulted in a funded mortgage. The denial rate is 7.5%.
What is the average loan amount at Cathay Bank?
The average mortgage loan amount at Cathay Bank is $774,959. The average interest rate is 7.004%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Cathay Bank?
The most common reasons for mortgage denial at Cathay Bank are: Other, Credit history, Collateral. In total, 127 applications were denied out of 1,693 total applications.
What types of mortgage loans does Cathay Bank offer?
Cathay Bank processes Conventional loans. The most common type is Conventional with 1,693 applications and an average loan amount of $774,959.
What loan purposes does Cathay Bank serve?
Cathay Bank serves the following loan purposes: Home Purchase (1,410 applications), Refinancing (136 applications), Cash-out Refinancing (136 applications), Home Improvement (11 applications). Home Purchase is the most common purpose.
Where is Cathay Bank located?
Cathay Bank is headquartered in LOS ANGELES, CA. The lender is identified by LEI FT6J43S06X6CLJ0R0B48 in HMDA data.
How does Cathay Bank compare in lending across racial demographics?
Cathay Bank reports demographic lending data under HMDA requirements. Asian applicants have an approval rate of 69.9% and denial rate of 8.8%; White applicants have an approval rate of 37.2% and denial rate of 4.7%; Black or African American applicants have an approval rate of 30.8% and denial rate of 0.0%. 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.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.