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Mutual Savings Credit Union

Birmingham, AL

Mutual Savings Credit Union processed 89 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 39 loans with a 31.5% denial rate. Home Purchase was the primary loan purpose. Based in Birmingham, AL. The approval rate of 43.8% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Mutual Savings Credit Union's 43.8% origination rate tells you how often an application turned into funded money; the 31.5% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (89 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.

89
Applications
39
Originated
31.5%
Denial Rate
$137,022
Avg Loan Amount
Avg Interest Rate: 6.622% Avg Applicant Income: $30,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 89 39 28 $137,022

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Mutual Savings Credit Union (LEI: 2549008PQJ4J5Z32RI14) · 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 Approval rates exclude withdrawn / incomplete applications.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
19
Debt-to-income ratio
10
Collateral
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 39 7 $197,821
Refinancing 26 18 $93,846
Cash-out Refinancing 24 14 $85,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 62 48.4% 22.6%
Black or African American * 26 34.6% 53.9%

* 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 81 45.7% 29.6%
Hispanic or Latino * 5 20.0% 60.0%
Joint * 2 50.0% 50.0%

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

Nearby Lenders in AL

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

Regions Bank

BIRMINGHAM, AL

70,436 apps 29,337 originated 39.6% denied

CSL Financial LLC

Birmingham, AL

10,109 apps 1,011 originated 60.3% denied

Redstone Federal Credit Union

HUNTSVILLE, AL

5,601 apps 3,166 originated 21.9% denied

Tjc Mortgage INC

BIRMINGHAM, AL

2,788 apps 1,704 originated 3.2% denied

All in Credit Union

DOTHAN, AL

2,355 apps 1,018 originated 32.0% denied
Compare Mutual Savings Credit Union vs Regions Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Mutual Savings Credit Union process?
Mutual Savings Credit Union processed 89 mortgage applications in the 2024 HMDA reporting year. Of these, 39 were originated (approved and funded), 22 were withdrawn by the applicant, and 28 were denied.
What is Mutual Savings Credit Union's mortgage approval rate?
Mutual Savings Credit Union has an approval (origination) rate of 43.8%, meaning 43.8% of all applications resulted in a funded mortgage. The denial rate is 31.5%.
What is the average loan amount at Mutual Savings Credit Union?
The average mortgage loan amount at Mutual Savings Credit Union is $137,022. The average interest rate is 6.622%. The average applicant income is $30,000.
What are the most common reasons for mortgage denial at Mutual Savings Credit Union?
The most common reasons for mortgage denial at Mutual Savings Credit Union are: Credit history, Debt-to-income ratio, Collateral. In total, 28 applications were denied out of 89 total applications.
What types of mortgage loans does Mutual Savings Credit Union offer?
Mutual Savings Credit Union processes Conventional loans. The most common type is Conventional with 89 applications and an average loan amount of $137,022.
What loan purposes does Mutual Savings Credit Union serve?
Mutual Savings Credit Union serves the following loan purposes: Home Purchase (39 applications), Refinancing (26 applications), Cash-out Refinancing (24 applications). Home Purchase is the most common purpose.
Where is Mutual Savings Credit Union located?
Mutual Savings Credit Union is headquartered in Birmingham, AL. The lender is identified by LEI 2549008PQJ4J5Z32RI14 in HMDA data.
How does Mutual Savings Credit Union compare in lending across racial demographics?
Mutual Savings Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 48.4% and denial rate of 22.6%; Black or African American applicants have an approval rate of 34.6% and denial rate of 53.9%. 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.