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Northrop Grumman Federal Credit Union

GARDENA, CA

Northrop Grumman Federal Credit Union processed 1,267 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 556 loans with a 15.0% denial rate. Cash-out Refinancing was the primary loan purpose. Based in GARDENA, CA. The approval rate of 43.9% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Northrop Grumman Federal Credit Union's 43.9% origination rate tells you how often an application turned into funded money; the 15.0% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Collateral, Debt-to-income ratio, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,267 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.

1,267
Applications
556
Originated
15.0%
Denial Rate
$229,854
Avg Loan Amount
Avg Interest Rate: 8.217% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,267 556 190 $229,854

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Northrop Grumman Federal Credit Union (LEI: 5493009D2COWW65B8673) · 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 Approval rates exclude withdrawn / incomplete applications.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

Collateral
107
Debt-to-income ratio
84
Credit history
57
Other
6
Unverifiable information
2
Employment history
2
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 603 286 $135,050
Home Purchase 383 119 $429,021
Home Improvement 237 135 $126,941
Refinancing 44 16 $349,773

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 767 48.1% 14.5%
Black or African American 167 37.1% 23.9%
Asian 94 42.5% 13.8%
Joint * 35 40.0% 8.6%
American Indian or Alaska Native * 14 42.9% 7.1%
2 or more minority races * 3 0.0% 33.3%
Native Hawaiian or Other Pacific Islander * 3 0.0% 33.3%

* 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 729 43.9% 15.4%
Hispanic or Latino 265 40.4% 17.0%
Joint 117 63.3% 10.3%

Nearby Lenders in CA

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

Pennymac Loan Services LLC

WESTLAKE VILLAGE, CA

384,816 apps 67,294 originated 4.7% denied

Bank of America NA

Westlake Village, CA

233,637 apps 83,165 originated 34.6% denied

AmeriHome Mortgage Company, LLC

Thousand Oaks, CA

149,937 apps 6,250 originated 0.8% denied

Loandepot.Com, LLC

IRVINE, CA

142,924 apps 79,418 originated 23.3% denied

New American Funding, LLC.

TUSTIN, CA

118,479 apps 48,639 originated 11.1% denied
Compare Northrop Grumman Federal Credit Union vs Pennymac Loan Services LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Northrop Grumman Federal Credit Union process?
Northrop Grumman Federal Credit Union processed 1,267 mortgage applications in the 2024 HMDA reporting year. Of these, 556 were originated (approved and funded), 106 were withdrawn by the applicant, and 190 were denied.
What is Northrop Grumman Federal Credit Union's mortgage approval rate?
Northrop Grumman Federal Credit Union has an approval (origination) rate of 43.9%, meaning 43.9% of all applications resulted in a funded mortgage. The denial rate is 15.0%.
What is the average loan amount at Northrop Grumman Federal Credit Union?
The average mortgage loan amount at Northrop Grumman Federal Credit Union is $229,854. The average interest rate is 8.217%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Northrop Grumman Federal Credit Union?
The most common reasons for mortgage denial at Northrop Grumman Federal Credit Union are: Collateral, Debt-to-income ratio, Credit history. In total, 190 applications were denied out of 1,267 total applications.
What types of mortgage loans does Northrop Grumman Federal Credit Union offer?
Northrop Grumman Federal Credit Union processes Conventional loans. The most common type is Conventional with 1,267 applications and an average loan amount of $229,854.
What loan purposes does Northrop Grumman Federal Credit Union serve?
Northrop Grumman Federal Credit Union serves the following loan purposes: Cash-out Refinancing (603 applications), Home Purchase (383 applications), Home Improvement (237 applications), Refinancing (44 applications). Cash-out Refinancing is the most common purpose.
Where is Northrop Grumman Federal Credit Union located?
Northrop Grumman Federal Credit Union is headquartered in GARDENA, CA. The lender is identified by LEI 5493009D2COWW65B8673 in HMDA data.
How does Northrop Grumman Federal Credit Union compare in lending across racial demographics?
Northrop Grumman Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 48.1% and denial rate of 14.5%; Black or African American applicants have an approval rate of 37.1% and denial rate of 23.9%; Asian applicants have an approval rate of 42.5% and denial rate of 13.8%. 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.