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Equity Wave Lending, Inc.

Irvine, CA

Equity Wave Lending, Inc. processed 546 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 282 loans with a 22.5% denial rate. Cash-out Refinancing was the primary loan purpose. Based in Irvine, CA. The approval rate of 51.6% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Equity Wave Lending, Inc.'s 51.6% origination rate tells you how often an application turned into funded money; the 22.5% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Collateral, Credit history, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (543 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.

546
Applications
282
Originated
22.5%
Denial Rate
$370,916
Avg Loan Amount
Avg Interest Rate: 12.348% Avg Applicant Income: $29,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 543 282 122 $372,219
FHA 3 0 1 $135,000

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Equity Wave Lending, Inc. (LEI: 549300RC1JITZLHVLH66) · 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 Approval rates exclude withdrawn / incomplete applications.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

Collateral
57
Credit history
38
Other
22
Unverifiable information
17
Employment history
7
Credit application incomplete
4
Debt-to-income ratio
3
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 456 263 $357,259
Home Purchase 45 17 $502,333
Refinancing 45 2 $377,889

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 250 58.0% 18.8%
Asian * 48 41.7% 29.2%
Black or African American * 41 39.0% 31.7%
American Indian or Alaska Native * 3 33.3% 66.7%
Joint * 2 0.0% 0.0%
Native Hawaiian or Other Pacific Islander * 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 243 53.9% 23.1%
Hispanic or Latino 117 49.6% 22.2%
Joint * 1 100.0% 0.0%

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

Nearby Lenders in 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 Equity Wave Lending, Inc. vs Pennymac Loan Services LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Equity Wave Lending, Inc. process?
Equity Wave Lending, Inc. processed 546 mortgage applications in the 2024 HMDA reporting year. Of these, 282 were originated (approved and funded), 100 were withdrawn by the applicant, and 123 were denied.
What is Equity Wave Lending, Inc.'s mortgage approval rate?
Equity Wave Lending, Inc. has an approval (origination) rate of 51.6%, meaning 51.6% of all applications resulted in a funded mortgage. The denial rate is 22.5%.
What is the average loan amount at Equity Wave Lending, Inc.?
The average mortgage loan amount at Equity Wave Lending, Inc. is $370,916. The average interest rate is 12.348%. The average applicant income is $29,000.
What are the most common reasons for mortgage denial at Equity Wave Lending, Inc.?
The most common reasons for mortgage denial at Equity Wave Lending, Inc. are: Collateral, Credit history, Other. In total, 123 applications were denied out of 546 total applications.
What types of mortgage loans does Equity Wave Lending, Inc. offer?
Equity Wave Lending, Inc. processes Conventional, FHA loans. The most common type is Conventional with 543 applications and an average loan amount of $372,219.
What loan purposes does Equity Wave Lending, Inc. serve?
Equity Wave Lending, Inc. serves the following loan purposes: Cash-out Refinancing (456 applications), Home Purchase (45 applications), Refinancing (45 applications). Cash-out Refinancing is the most common purpose.
Where is Equity Wave Lending, Inc. located?
Equity Wave Lending, Inc. is headquartered in Irvine, CA. The lender is identified by LEI 549300RC1JITZLHVLH66 in HMDA data.
How does Equity Wave Lending, Inc. compare in lending across racial demographics?
Equity Wave Lending, Inc. reports demographic lending data under HMDA requirements. White applicants have an approval rate of 58.0% and denial rate of 18.8%; Asian applicants have an approval rate of 41.7% and denial rate of 29.2%; Black or African American applicants have an approval rate of 39.0% and denial rate of 31.7%. 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.