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Department of Commerce Federal Credit Union

WASHINGTON, DC

Department of Commerce Federal Credit Union processed 68 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 25 loans with a 22.1% denial rate. Other was the primary loan purpose. Based in WASHINGTON, DC. The approval rate of 36.8% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Department of Commerce Federal Credit Union's 36.8% origination rate tells you how often an application turned into funded money; the 22.1% 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 (68 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.

68
Applications
25
Originated
22.1%
Denial Rate
$165,441
Avg Loan Amount
Avg Interest Rate: 7.890% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 68 25 15 $165,441

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Department of Commerce Federal Credit Union (LEI: 549300U8E8RBG5YNMP39) · 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 Approval rates exclude withdrawn / incomplete applications.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

Debt-to-income ratio
9
Credit history
7
Other
5
Collateral
3
Employment history
1
Insufficient cash
1
Unverifiable information
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 28 8 $85,714
Home Purchase 16 9 $288,125
Home Improvement 14 7 $119,286
Refinancing 6 0 $193,333
Cash-out Refinancing 4 1 $352,500

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
Black or African American * 23 34.8% 39.1%
White * 18 50.0% 11.1%
Asian * 5 40.0% 0.0%
2 or more minority races * 1 100.0% 0.0%
Joint * 1 0.0% 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 * 44 43.2% 20.4%
Hispanic or Latino * 4 50.0% 25.0%
Joint * 1 0.0% 100.0%

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

Nearby Lenders in DC

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

Bank Fund Staff Federal Credit

Washington, DC

1,680 apps 1,029 originated 10.4% denied

United States Senate Federal Credit Union

WASHINGTON, DC

525 apps 323 originated 18.9% denied

NorthMarq Capital Finance, L.L.C.

Washington, DC

115 apps 101 originated 2.6% denied

Industrial Bank

Washington, DC

109 apps 50 originated 44.0% denied

City First Bank, National Association

Washington, DC

101 apps 68 originated 21.8% denied
Compare Department of Commerce Federal Credit Union vs Bank Fund Staff Federal Credit →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Department of Commerce Federal Credit Union process?
Department of Commerce Federal Credit Union processed 68 mortgage applications in the 2024 HMDA reporting year. Of these, 25 were originated (approved and funded), 28 were withdrawn by the applicant, and 15 were denied.
What is Department of Commerce Federal Credit Union's mortgage approval rate?
Department of Commerce Federal Credit Union has an approval (origination) rate of 36.8%, meaning 36.8% of all applications resulted in a funded mortgage. The denial rate is 22.1%.
What is the average loan amount at Department of Commerce Federal Credit Union?
The average mortgage loan amount at Department of Commerce Federal Credit Union is $165,441. The average interest rate is 7.890%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at Department of Commerce Federal Credit Union?
The most common reasons for mortgage denial at Department of Commerce Federal Credit Union are: Debt-to-income ratio, Credit history, Other. In total, 15 applications were denied out of 68 total applications.
What types of mortgage loans does Department of Commerce Federal Credit Union offer?
Department of Commerce Federal Credit Union processes Conventional loans. The most common type is Conventional with 68 applications and an average loan amount of $165,441.
What loan purposes does Department of Commerce Federal Credit Union serve?
Department of Commerce Federal Credit Union serves the following loan purposes: Other (28 applications), Home Purchase (16 applications), Home Improvement (14 applications), Refinancing (6 applications), Cash-out Refinancing (4 applications). Other is the most common purpose.
Where is Department of Commerce Federal Credit Union located?
Department of Commerce Federal Credit Union is headquartered in WASHINGTON, DC. The lender is identified by LEI 549300U8E8RBG5YNMP39 in HMDA data.
How does Department of Commerce Federal Credit Union compare in lending across racial demographics?
Department of Commerce Federal Credit Union reports demographic lending data under HMDA requirements. Black or African American applicants have an approval rate of 34.8% and denial rate of 39.1%; White applicants have an approval rate of 50.0% and denial rate of 11.1%; Asian applicants have an approval rate of 40.0% 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.