PlainLender

FIRST NEW YORK FEDERAL CREDIT UNION

ALBANY, NY

FIRST NEW YORK FEDERAL CREDIT UNION processed 677 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 473 loans with a 11.4% denial rate. Cash-out Refinancing was the primary loan purpose. Based in ALBANY, NY. The approval rate of 69.9% 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. FIRST NEW YORK FEDERAL CREDIT UNION processed 677 HMDA-reported mortgage applications in 2024, originating 473 loans and denying 77 for a denial rate of 11.4% (applicants themselves withdrew 121 files before a decision). The average loan amount was $153,006 at a 5.285% average note rate, and applicants self-reported an average income of $37,000. The lender reports under LEI 5493007G2SOD8W9RK547 from ALBANY, NY.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. FIRST NEW YORK FEDERAL CREDIT UNION's 69.9% origination rate tells you how often an application turned into funded money; the 11.4% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Debt-to-income ratio, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (677 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.

677
Applications
473
Originated
11.4%
Denial Rate
$153,006
Avg Loan Amount
Avg Interest Rate: 5.285% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 677 473 77 $153,006

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for FIRST NEW YORK FEDERAL CREDIT UNION (LEI: 5493007G2SOD8W9RK547) · 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

Other
37
Debt-to-income ratio
35
Credit history
28
Collateral
18
Employment history
5
Credit application incomplete
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 265 184 $148,132
Home Improvement 233 163 $96,502
Refinancing 96 66 $184,896
Home Purchase 83 60 $290,301

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 554 71.5% 11.7%
Asian 37 75.7% 5.4%
Black or African American 28 50.0% 21.4%
Joint 9 55.6% 11.1%
American Indian or Alaska Native 2 50.0% 0.0%
2 or more minority races 1 0.0% 0.0%

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 597 70.0% 11.9%
Hispanic or Latino 15 66.7% 20.0%
Joint 9 77.8% 0.0%

Nearby Lenders in NY

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

Citibank, NA

New York, NY

54,575 apps 14,104 originated 8.6% denied

M&T BANK

BUFFALO, NY

36,377 apps 20,743 originated 30.9% denied

Loan Funder LLC

New York, NY

23,955 apps 10,690 originated 11.6% denied

BETHPAGE FEDERAL CREDIT UNION

BETHPAGE, NY

21,186 apps 9,086 originated 44.3% denied

Better Mortgage Corporation

New York, NY

18,219 apps 5,450 originated 11.3% denied
Compare FIRST NEW YORK FEDERAL CREDIT UNION vs Citibank, NA →

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

Explore More Data

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Frequently Asked Questions

How many mortgage applications did FIRST NEW YORK FEDERAL CREDIT UNION process?
FIRST NEW YORK FEDERAL CREDIT UNION processed 677 mortgage applications in the 2023 HMDA reporting year. Of these, 473 were originated (approved and funded), 121 were withdrawn by the applicant, and 77 were denied.
What is FIRST NEW YORK FEDERAL CREDIT UNION's mortgage approval rate?
FIRST NEW YORK FEDERAL CREDIT UNION has an approval (origination) rate of 69.9%, meaning 69.9% of all applications resulted in a funded mortgage. The denial rate is 11.4%.
What is the average loan amount at FIRST NEW YORK FEDERAL CREDIT UNION?
The average mortgage loan amount at FIRST NEW YORK FEDERAL CREDIT UNION is $153,006. The average interest rate is 5.285%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at FIRST NEW YORK FEDERAL CREDIT UNION?
The most common reasons for mortgage denial at FIRST NEW YORK FEDERAL CREDIT UNION are: Other, Debt-to-income ratio, Credit history. In total, 77 applications were denied out of 677 total applications.
What types of mortgage loans does FIRST NEW YORK FEDERAL CREDIT UNION offer?
FIRST NEW YORK FEDERAL CREDIT UNION processes Conventional loans. The most common type is Conventional with 677 applications and an average loan amount of $153,006.
What loan purposes does FIRST NEW YORK FEDERAL CREDIT UNION serve?
FIRST NEW YORK FEDERAL CREDIT UNION serves the following loan purposes: Cash-out Refinancing (265 applications), Home Improvement (233 applications), Refinancing (96 applications), Home Purchase (83 applications). Cash-out Refinancing is the most common purpose.
Where is FIRST NEW YORK FEDERAL CREDIT UNION located?
FIRST NEW YORK FEDERAL CREDIT UNION is headquartered in ALBANY, NY. The lender is identified by LEI 5493007G2SOD8W9RK547 in HMDA data.
How does FIRST NEW YORK FEDERAL CREDIT UNION compare in lending across racial demographics?
FIRST NEW YORK FEDERAL CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 71.5% and denial rate of 11.7%; Asian applicants have an approval rate of 75.7% and denial rate of 5.4%; Black or African American applicants have an approval rate of 50.0% and denial rate of 21.4%. 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.