PlainLender

Needham Bank

Needham, MA

Needham Bank processed 727 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 468 loans with a 14.2% denial rate. Other was the primary loan purpose. Based in Needham, MA. The approval rate of 64.4% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Needham Bank's 64.4% origination rate tells you how often an application turned into funded money; the 14.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (727 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.

727
Applications
468
Originated
14.2%
Denial Rate
$673,597
Avg Loan Amount
Avg Interest Rate: 7.560% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 727 468 103 $673,597

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Needham Bank (LEI: 5493000NZZZU3GFIYL71) · 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 Approval rates exclude withdrawn / incomplete applications.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
49
Other
37
Collateral
24
Credit history
18
Unverifiable information
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 320 190 $269,063
Home Purchase 211 143 $794,621
Refinancing 182 122 $863,187
Home Improvement 14 13 $5,631,429

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 475 68.0% 12.4%
Asian 58 62.1% 8.6%
Black or African American * 23 39.1% 43.5%
Joint * 19 63.2% 10.5%
American Indian or Alaska Native * 7 28.6% 42.9%
2 or more minority races * 2 100.0% 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 493 65.9% 13.6%
Hispanic or Latino * 42 40.5% 21.4%
Joint * 26 69.2% 11.5%

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

Nearby Lenders in MA

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

Digital Federal Credit Union

Marlborough, MA

11,503 apps 4,232 originated 23.0% denied

Leader Bank NA

Arlington, MA

6,683 apps 5,398 originated 2.6% denied

Rockland Trust Bank

BROCKTON, MA

5,681 apps 2,932 originated 30.2% denied

Eastern Bank

Lynn, MA

5,146 apps 3,130 originated 29.4% denied

Cape Cod Five Cents Savings Bank

HYANNIS, MA

2,836 apps 2,014 originated 10.2% denied
Compare Needham Bank vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Needham Bank process?
Needham Bank processed 727 mortgage applications in the 2024 HMDA reporting year. Of these, 468 were originated (approved and funded), 101 were withdrawn by the applicant, and 103 were denied.
What is Needham Bank's mortgage approval rate?
Needham Bank has an approval (origination) rate of 64.4%, meaning 64.4% of all applications resulted in a funded mortgage. The denial rate is 14.2%.
What is the average loan amount at Needham Bank?
The average mortgage loan amount at Needham Bank is $673,597. The average interest rate is 7.560%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Needham Bank?
The most common reasons for mortgage denial at Needham Bank are: Debt-to-income ratio, Other, Collateral. In total, 103 applications were denied out of 727 total applications.
What types of mortgage loans does Needham Bank offer?
Needham Bank processes Conventional loans. The most common type is Conventional with 727 applications and an average loan amount of $673,597.
What loan purposes does Needham Bank serve?
Needham Bank serves the following loan purposes: Other (320 applications), Home Purchase (211 applications), Refinancing (182 applications), Home Improvement (14 applications). Other is the most common purpose.
Where is Needham Bank located?
Needham Bank is headquartered in Needham, MA. The lender is identified by LEI 5493000NZZZU3GFIYL71 in HMDA data.
How does Needham Bank compare in lending across racial demographics?
Needham Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 68.0% and denial rate of 12.4%; Asian applicants have an approval rate of 62.1% and denial rate of 8.6%; Black or African American applicants have an approval rate of 39.1% and denial rate of 43.5%. 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.