PlainLender

Forward Bank

Marshfield, WI

Forward Bank processed 463 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 367 loans with a 7.3% denial rate. Home Purchase was the primary loan purpose. Based in Marshfield, WI. The approval rate of 79.3% 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. Forward Bank processed 463 HMDA-reported mortgage applications in 2024, originating 367 loans and denying 34 for a denial rate of 7.3%. The average loan amount was $184,071 at a 7.530% average note rate, and applicants self-reported an average income of $32,000. The lender reports under LEI 254900IER2H3R8YLBW04 from Marshfield, WI.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Forward Bank's 79.3% origination rate tells you how often an application turned into funded money; the 7.3% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (463 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.

463
Applications
367
Originated
7.3%
Denial Rate
$184,071
Avg Loan Amount
Avg Interest Rate: 7.530% Avg Applicant Income: $32,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 463 367 34 $184,071

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Forward Bank (LEI: 254900IER2H3R8YLBW04) · 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

Debt-to-income ratio
18
Credit history
12
Collateral
5
Insufficient cash
3
Employment history
1
Unverifiable information
1
Other
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 292 238 $218,048
Cash-out Refinancing 75 54 $139,933
Home Improvement 38 33 $80,789
Other 29 23 $98,793
Refinancing 29 19 $176,724

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 419 77.6% 7.9%
Joint 4 100.0% 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 405 78.3% 7.7%
Hispanic or Latino 9 66.7% 11.1%
Joint 6 66.7% 16.7%

Nearby Lenders in WI

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

FAIRWAY INDEPENDENT MORT CORP

MADISON, WI

102,501 apps 74,401 originated 4.7% denied

Summit Credit Union

Cottage Grove, WI

15,990 apps 9,929 originated 10.9% denied

UW CREDIT UNION

MADISON, WI

11,177 apps 8,477 originated 12.3% denied

Associated Bank NA

Green Bay, WI

10,999 apps 6,532 originated 24.4% denied

WATERSTONE MORTGAGE CORPORATION

BROOKFIELD, WI

10,792 apps 7,819 originated 4.5% denied
Compare Forward Bank vs FAIRWAY INDEPENDENT MORT CORP →

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

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Forward Bank process?
Forward Bank processed 463 mortgage applications in the 2023 HMDA reporting year. Of these, 367 were originated (approved and funded), and 34 were denied.
What is Forward Bank's mortgage approval rate?
Forward Bank has an approval (origination) rate of 79.3%, meaning 79.3% of all applications resulted in a funded mortgage. The denial rate is 7.3%.
What is the average loan amount at Forward Bank?
The average mortgage loan amount at Forward Bank is $184,071. The average interest rate is 7.530%. The average applicant income is $32,000.
What are the most common reasons for mortgage denial at Forward Bank?
The most common reasons for mortgage denial at Forward Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 34 applications were denied out of 463 total applications.
What types of mortgage loans does Forward Bank offer?
Forward Bank processes Conventional loans. The most common type is Conventional with 463 applications and an average loan amount of $184,071.
What loan purposes does Forward Bank serve?
Forward Bank serves the following loan purposes: Home Purchase (292 applications), Cash-out Refinancing (75 applications), Home Improvement (38 applications), Other (29 applications), Refinancing (29 applications). Home Purchase is the most common purpose.
Where is Forward Bank located?
Forward Bank is headquartered in Marshfield, WI. The lender is identified by LEI 254900IER2H3R8YLBW04 in HMDA data.
How does Forward Bank compare in lending across racial demographics?
Forward Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 77.6% and denial rate of 7.9%; Joint applicants have an approval rate of 100.0% 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.