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Redwood Credit Union

SANTA ROSA, CA

Redwood Credit Union processed 3,969 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,053 loans with a 18.7% denial rate. Home Improvement was the primary loan purpose. Based in SANTA ROSA, CA. The approval rate of 51.7% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Redwood Credit Union's 51.7% origination rate tells you how often an application turned into funded money; the 18.7% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Collateral, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (3,969 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.

3,969
Applications
2,053
Originated
18.7%
Denial Rate
$308,180
Avg Loan Amount
Avg Interest Rate: 8.303% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 3,969 2,053 741 $308,180

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Redwood Credit Union (LEI: 5493001WRXQTCKCA6205) · 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 Approval rates exclude withdrawn / incomplete applications.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
487
Collateral
171
Credit history
111
Other
96
Credit application incomplete
37
Insufficient cash
31
Employment history
11
Unverifiable information
10

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 1,282 846 $137,200
Home Purchase 1,158 485 $632,522
Other 890 381 $136,326
Cash-out Refinancing 522 302 $255,709
Refinancing 117 39 $512,863

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 2,530 55.1% 17.9%
Asian 197 47.2% 23.9%
Joint 155 58.7% 11.6%
Black or African American 60 28.3% 25.0%
American Indian or Alaska Native * 42 40.5% 23.8%
Native Hawaiian or Other Pacific Islander * 13 7.7% 38.5%
2 or more minority races * 8 12.5% 37.5%

* 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 2,474 56.8% 16.5%
Hispanic or Latino 565 34.5% 27.1%
Joint 194 52.1% 16.0%

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 Redwood Credit Union vs Pennymac Loan Services LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Redwood Credit Union process?
Redwood Credit Union processed 3,969 mortgage applications in the 2024 HMDA reporting year. Of these, 2,053 were originated (approved and funded), 347 were withdrawn by the applicant, and 741 were denied.
What is Redwood Credit Union's mortgage approval rate?
Redwood Credit Union has an approval (origination) rate of 51.7%, meaning 51.7% of all applications resulted in a funded mortgage. The denial rate is 18.7%.
What is the average loan amount at Redwood Credit Union?
The average mortgage loan amount at Redwood Credit Union is $308,180. The average interest rate is 8.303%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at Redwood Credit Union?
The most common reasons for mortgage denial at Redwood Credit Union are: Debt-to-income ratio, Collateral, Credit history. In total, 741 applications were denied out of 3,969 total applications.
What types of mortgage loans does Redwood Credit Union offer?
Redwood Credit Union processes Conventional loans. The most common type is Conventional with 3,969 applications and an average loan amount of $308,180.
What loan purposes does Redwood Credit Union serve?
Redwood Credit Union serves the following loan purposes: Home Improvement (1,282 applications), Home Purchase (1,158 applications), Other (890 applications), Cash-out Refinancing (522 applications), Refinancing (117 applications). Home Improvement is the most common purpose.
Where is Redwood Credit Union located?
Redwood Credit Union is headquartered in SANTA ROSA, CA. The lender is identified by LEI 5493001WRXQTCKCA6205 in HMDA data.
How does Redwood Credit Union compare in lending across racial demographics?
Redwood Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 55.1% and denial rate of 17.9%; Asian applicants have an approval rate of 47.2% and denial rate of 23.9%; Joint applicants have an approval rate of 58.7% and denial rate of 11.6%. 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.

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.