PlainLender

MSU FEDERAL CREDIT UNION

EAST LANSING, MI

MSU FEDERAL CREDIT UNION processed 5,712 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,472 loans with a 12.1% denial rate. Home Purchase was the primary loan purpose. Based in EAST LANSING, MI. The approval rate of 43.3% 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. MSU FEDERAL CREDIT UNION processed 5,712 HMDA-reported mortgage applications in 2024, originating 2,472 loans and denying 690 for a denial rate of 12.1% (applicants themselves withdrew 125 files before a decision). The average loan amount was $2,200,483 at a 7.965% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 54930053SM8COVIPIY54 from EAST LANSING, MI.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. MSU FEDERAL CREDIT UNION's 43.3% origination rate tells you how often an application turned into funded money; the 12.1% 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 (5,712 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.

5,712
Applications
2,472
Originated
12.1%
Denial Rate
$2,200,483
Avg Loan Amount
Avg Interest Rate: 7.965% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 5,712 2,472 690 $2,200,483

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for MSU FEDERAL CREDIT UNION (LEI: 54930053SM8COVIPIY54) · 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
441
Credit history
293
Collateral
95
Employment history
34
Insufficient cash
17
Unverifiable information
7
Other
7
Credit application incomplete
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 3,030 896 $2,194,630
Other 1,553 714 $83,384
Home Improvement 652 605 $97,193
Cash-out Refinancing 339 179 $201,047
Refinancing 138 78 $41,002,971

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 4,423 46.2% 11.8%
Black or African American 348 24.4% 18.1%
Asian 191 29.3% 12.6%
Joint 143 47.5% 10.5%
American Indian or Alaska Native 42 40.5% 9.5%
2 or more minority races 14 14.3% 42.9%
Native Hawaiian or Other Pacific Islander 8 62.5% 12.5%

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 4,777 44.7% 12.0%
Hispanic or Latino 251 29.1% 15.9%
Joint 169 39.6% 11.8%

Nearby Lenders in MI

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

ROCKET MORTGAGE

DETROIT, MI

553,854 apps 361,071 originated 14.9% denied

United Wholesale Mortgage

Pontiac, MI

493,978 apps 366,078 originated 11.7% denied

Flagstar Bank NA

Troy, MI

67,778 apps 29,443 originated 18.5% denied

Lake Michigan Credit Union

Grand Rapids, MI

16,222 apps 12,245 originated 8.3% denied

Northpointe Bank

Grand Rapids, MI

9,882 apps 5,580 originated 5.5% denied
Compare MSU FEDERAL CREDIT UNION vs ROCKET MORTGAGE →

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 MSU FEDERAL CREDIT UNION process?
MSU FEDERAL CREDIT UNION processed 5,712 mortgage applications in the 2023 HMDA reporting year. Of these, 2,472 were originated (approved and funded), 125 were withdrawn by the applicant, and 690 were denied.
What is MSU FEDERAL CREDIT UNION's mortgage approval rate?
MSU FEDERAL CREDIT UNION has an approval (origination) rate of 43.3%, meaning 43.3% of all applications resulted in a funded mortgage. The denial rate is 12.1%.
What is the average loan amount at MSU FEDERAL CREDIT UNION?
The average mortgage loan amount at MSU FEDERAL CREDIT UNION is $2,200,483. The average interest rate is 7.965%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at MSU FEDERAL CREDIT UNION?
The most common reasons for mortgage denial at MSU FEDERAL CREDIT UNION are: Debt-to-income ratio, Credit history, Collateral. In total, 690 applications were denied out of 5,712 total applications.
What types of mortgage loans does MSU FEDERAL CREDIT UNION offer?
MSU FEDERAL CREDIT UNION processes Conventional loans. The most common type is Conventional with 5,712 applications and an average loan amount of $2,200,483.
What loan purposes does MSU FEDERAL CREDIT UNION serve?
MSU FEDERAL CREDIT UNION serves the following loan purposes: Home Purchase (3,030 applications), Other (1,553 applications), Home Improvement (652 applications), Cash-out Refinancing (339 applications), Refinancing (138 applications). Home Purchase is the most common purpose.
Where is MSU FEDERAL CREDIT UNION located?
MSU FEDERAL CREDIT UNION is headquartered in EAST LANSING, MI. The lender is identified by LEI 54930053SM8COVIPIY54 in HMDA data.
How does MSU FEDERAL CREDIT UNION compare in lending across racial demographics?
MSU FEDERAL CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 46.2% and denial rate of 11.8%; Black or African American applicants have an approval rate of 24.4% and denial rate of 18.1%; Asian applicants have an approval rate of 29.3% and denial rate of 12.6%. 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.