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Credence Funding Corporation

Aberdeen, MD

Credence Funding Corporation processed 621 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 379 loans with a 0.0% denial rate. Refinancing was the primary loan purpose. Based in Aberdeen, MD. The approval rate of 61.0% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Credence Funding Corporation's 61.0% origination rate tells you how often an application turned into funded money; the 0.0% denial rate is a separate read on underwriting strictness. Most activity concentrated in VA loans (584 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.

621
Applications
379
Originated
0.0%
Denial Rate
$339,911
Avg Loan Amount
Avg Interest Rate: 5.718% Avg Applicant Income: $40,000

Lending Activity

Type Applications Originated Denied Avg Loan
VA 584 351 0 $336,866
Conventional 19 19 0 $375,000
FHA 18 9 0 $401,667

Top loan types - Credence Funding Corporation

Top loan types - Credence Funding Corporation Horizontal bar chart of the top 3 items by value (applications). Top loan types - Credence Funding Corporation Top 3 1. VA 584 2. Conventional 19 3. FHA 18 Top 5 loan types by application volume at Credence Funding Corporation (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Credence Funding Corporation (LEI: 254900HIDMT4ZG09RP47) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Refinancing 589 347 $336,460
Home Purchase 24 24 $390,833
Cash-out Refinancing 8 8 $441,250

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 61 80.3% 0.0%
Black or African American * 20 80.0% 0.0%
Joint * 11 81.8% 0.0%
Asian * 3 33.3% 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 80 83.8% 0.0%
Hispanic or Latino * 9 55.6% 0.0%
Joint * 4 100.0% 0.0%

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

Nearby Lenders in MD

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

Lower, LLC

COLUMBIA, MD

27,730 apps 17,412 originated 9.4% denied

Nfm, INC

LINTHICUM, MD

22,075 apps 17,246 originated 1.9% denied

First Home Mortgage

Baltimore, MD

7,187 apps 5,538 originated 2.8% denied

Tower Federal Credit Union

LAUREL, MD

6,022 apps 3,449 originated 31.0% denied

State Employees Credit Union of Maryland

Linthicum, MD

5,814 apps 2,602 originated 42.7% denied
Compare Credence Funding Corporation vs Lower, LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Credence Funding Corporation process?
Credence Funding Corporation processed 621 mortgage applications in the 2024 HMDA reporting year. Of these, 379 were originated (approved and funded), 242 were withdrawn by the applicant, and 0 were denied.
What is Credence Funding Corporation's mortgage approval rate?
Credence Funding Corporation has an approval (origination) rate of 61.0%, meaning 61.0% of all applications resulted in a funded mortgage. The denial rate is 0.0%.
What is the average loan amount at Credence Funding Corporation?
The average mortgage loan amount at Credence Funding Corporation is $339,911. The average interest rate is 5.718%. The average applicant income is $40,000.
What types of mortgage loans does Credence Funding Corporation offer?
Credence Funding Corporation processes VA, Conventional, FHA loans. The most common type is VA with 584 applications and an average loan amount of $336,866.
What loan purposes does Credence Funding Corporation serve?
Credence Funding Corporation serves the following loan purposes: Refinancing (589 applications), Home Purchase (24 applications), Cash-out Refinancing (8 applications). Refinancing is the most common purpose.
Where is Credence Funding Corporation located?
Credence Funding Corporation is headquartered in Aberdeen, MD. The lender is identified by LEI 254900HIDMT4ZG09RP47 in HMDA data.
How does Credence Funding Corporation compare in lending across racial demographics?
Credence Funding Corporation reports demographic lending data under HMDA requirements. White applicants have an approval rate of 80.3% and denial rate of 0.0%; Black or African American applicants have an approval rate of 80.0% and denial rate of 0.0%; Joint applicants have an approval rate of 81.8% 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.