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Greater Alliance Federal Credit Union

Paramus, NJ

Greater Alliance Federal Credit Union processed 317 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 140 loans with a 23.0% denial rate. Home Improvement was the primary loan purpose. Based in Paramus, NJ. The approval rate of 44.2% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Greater Alliance Federal Credit Union's 44.2% origination rate tells you how often an application turned into funded money; the 23.0% 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 (317 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.

317
Applications
140
Originated
23.0%
Denial Rate
$132,445
Avg Loan Amount
Avg Interest Rate: 7.619% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 317 140 73 $132,445

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Greater Alliance Federal Credit Union (LEI: 549300V4GRCFGZBVVZ73) · 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 Approval rates exclude withdrawn / incomplete applications.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
53
Credit history
42
Collateral
6
Other
6
Employment history
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 178 53 $118,652
Other 121 78 $117,810
Home Purchase 13 8 $383,462
Cash-out Refinancing 5 1 $325,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 227 46.3% 23.4%
Black or African American 56 25.0% 28.6%
Asian * 21 42.9% 19.1%
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.

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 206 49.0% 19.9%
Hispanic or Latino 102 31.4% 31.4%
Joint * 3 33.3% 0.0%

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

Nearby Lenders in NJ

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

TD Bank

Mount Laurel, NJ

56,179 apps 24,748 originated 26.1% denied

HomeBridge Financial Services, Inc

Iselin, NJ

20,428 apps 11,641 originated 24.9% denied

American Neighborhood Mortgage Acceptance Company

Mt. Laurel, NJ

15,393 apps 9,465 originated 2.1% denied

American Financial Resources LLC

PARSIPPANY, NJ

9,814 apps 5,214 originated 8.4% denied

Longbridge Financial, LLC

PARAMUS, NJ

9,231 apps 3,849 originated 8.7% denied
Compare Greater Alliance Federal Credit Union vs TD Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Greater Alliance Federal Credit Union process?
Greater Alliance Federal Credit Union processed 317 mortgage applications in the 2024 HMDA reporting year. Of these, 140 were originated (approved and funded), 40 were withdrawn by the applicant, and 73 were denied.
What is Greater Alliance Federal Credit Union's mortgage approval rate?
Greater Alliance Federal Credit Union has an approval (origination) rate of 44.2%, meaning 44.2% of all applications resulted in a funded mortgage. The denial rate is 23.0%.
What is the average loan amount at Greater Alliance Federal Credit Union?
The average mortgage loan amount at Greater Alliance Federal Credit Union is $132,445. The average interest rate is 7.619%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at Greater Alliance Federal Credit Union?
The most common reasons for mortgage denial at Greater Alliance Federal Credit Union are: Debt-to-income ratio, Credit history, Collateral. In total, 73 applications were denied out of 317 total applications.
What types of mortgage loans does Greater Alliance Federal Credit Union offer?
Greater Alliance Federal Credit Union processes Conventional loans. The most common type is Conventional with 317 applications and an average loan amount of $132,445.
What loan purposes does Greater Alliance Federal Credit Union serve?
Greater Alliance Federal Credit Union serves the following loan purposes: Home Improvement (178 applications), Other (121 applications), Home Purchase (13 applications), Cash-out Refinancing (5 applications). Home Improvement is the most common purpose.
Where is Greater Alliance Federal Credit Union located?
Greater Alliance Federal Credit Union is headquartered in Paramus, NJ. The lender is identified by LEI 549300V4GRCFGZBVVZ73 in HMDA data.
How does Greater Alliance Federal Credit Union compare in lending across racial demographics?
Greater Alliance Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 46.3% and denial rate of 23.4%; Black or African American applicants have an approval rate of 25.0% and denial rate of 28.6%; Asian applicants have an approval rate of 42.9% and denial rate of 19.1%. 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.