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Madison County Federal Credit

Anderson, IN

Madison County Federal Credit processed 106 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 87 loans with a 13.2% denial rate. Home Improvement was the primary loan purpose. Based in Anderson, IN. The approval rate of 82.1% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Madison County Federal Credit's 82.1% origination rate tells you how often an application turned into funded money; the 13.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, which together explain the majority of rejections. Most activity concentrated in Conventional loans (106 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.

106
Applications
87
Originated
13.2%
Denial Rate
$64,245
Avg Loan Amount
Avg Interest Rate: 7.716% Avg Applicant Income: $31,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 106 87 14 $64,245

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Madison County Federal Credit (LEI: 25490053IH908EDF8D65) · 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 Approval rates exclude withdrawn / incomplete applications.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

Credit history
9
Debt-to-income ratio
5

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 52 45 $45,962
Other 26 19 $49,231
Home Purchase 17 13 $149,706
Refinancing 8 7 $51,250
Cash-out Refinancing 3 3 $61,667

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 91 84.6% 12.1%
Black or African American * 8 87.5% 12.5%
American Indian or Alaska Native * 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 94 85.1% 11.7%
Hispanic or Latino * 2 100.0% 0.0%
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 IN

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

Ruoff Mortgage Company

Fort Wayne, IN

15,781 apps 10,647 originated 6.8% denied

Old National Bank

Evansville, IN

14,346 apps 9,035 originated 24.1% denied

Royal United Mortgage LLC

Indianapolis, IN

10,163 apps 5,993 originated 26.6% denied

First Merchants Bank

MUNCIE, IN

8,454 apps 5,503 originated 16.4% denied

Gvc Mortgage, INC.

SUITE 200, IN

5,130 apps 4,188 originated 2.0% denied
Compare Madison County Federal Credit vs Ruoff Mortgage Company →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Madison County Federal Credit process?
Madison County Federal Credit processed 106 mortgage applications in the 2024 HMDA reporting year. Of these, 87 were originated (approved and funded), 3 were withdrawn by the applicant, and 14 were denied.
What is Madison County Federal Credit's mortgage approval rate?
Madison County Federal Credit has an approval (origination) rate of 82.1%, meaning 82.1% of all applications resulted in a funded mortgage. The denial rate is 13.2%.
What is the average loan amount at Madison County Federal Credit?
The average mortgage loan amount at Madison County Federal Credit is $64,245. The average interest rate is 7.716%. The average applicant income is $31,000.
What are the most common reasons for mortgage denial at Madison County Federal Credit?
The most common reasons for mortgage denial at Madison County Federal Credit are: Credit history, Debt-to-income ratio. In total, 14 applications were denied out of 106 total applications.
What types of mortgage loans does Madison County Federal Credit offer?
Madison County Federal Credit processes Conventional loans. The most common type is Conventional with 106 applications and an average loan amount of $64,245.
What loan purposes does Madison County Federal Credit serve?
Madison County Federal Credit serves the following loan purposes: Home Improvement (52 applications), Other (26 applications), Home Purchase (17 applications), Refinancing (8 applications), Cash-out Refinancing (3 applications). Home Improvement is the most common purpose.
Where is Madison County Federal Credit located?
Madison County Federal Credit is headquartered in Anderson, IN. The lender is identified by LEI 25490053IH908EDF8D65 in HMDA data.
How does Madison County Federal Credit compare in lending across racial demographics?
Madison County Federal Credit reports demographic lending data under HMDA requirements. White applicants have an approval rate of 84.6% and denial rate of 12.1%; Black or African American applicants have an approval rate of 87.5% and denial rate of 12.5%; American Indian or Alaska Native 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.

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.