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Residential Mortgage Network, Inc.

Iowa City, IA

Residential Mortgage Network, Inc. processed 514 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 465 loans with a 0.6% denial rate. Home Purchase was the primary loan purpose. Based in Iowa City, IA. The approval rate of 90.5% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Residential Mortgage Network, Inc.'s 90.5% origination rate tells you how often an application turned into funded money; the 0.6% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Credit application incomplete, which together explain the majority of rejections. Most activity concentrated in Conventional loans (212 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.

514
Applications
465
Originated
0.6%
Denial Rate
$231,498
Avg Loan Amount
Avg Interest Rate: 6.530% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 212 191 1 $212,594
VA 139 126 1 $308,885
FHA 103 94 1 $200,728
USDA 60 54 0 $171,833

Top loan types - Residential Mortgage Network, Inc.

Top loan types - Residential Mortgage Network, Inc. Horizontal bar chart of the top 4 items by value (applications). Top loan types - Residential Mortgage Network, Inc. Top 4 1. Conventional 212 2. VA 139 3. FHA 103 4. USDA 60 Top 5 loan types by application volume at Residential Mortgage Network, Inc. (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Residential Mortgage Network, Inc. (LEI: 549300NTQ8BOK9455W21) · 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

Other
2
Credit application incomplete
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 455 410 $235,066
Refinancing 30 29 $297,333
Other 24 21 $75,000
Cash-out Refinancing 5 5 $263,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 464 91.6% 0.4%
Joint * 21 76.2% 0.0%
Black or African American * 14 92.9% 0.0%
Asian * 6 66.7% 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 457 90.8% 0.2%
Hispanic or Latino * 23 87.0% 0.0%
Joint * 19 94.7% 5.3%

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

Nearby Lenders in IA

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

Greenstate Credit Union

NORTH LIBERTY, IA

18,672 apps 12,784 originated 11.1% denied

Veridian Credit Union

WATERLOO, IA

11,053 apps 7,554 originated 12.1% denied

Iowa Bankers Mortgage Corporation

JOHNSTON, IA

5,751 apps 2,402 originated 7.6% denied

Dupaco Community Credit Union

DUBUQUE, IA

3,587 apps 2,580 originated 19.3% denied

Hills Bank and Trust Company

HILLS, IA

2,597 apps 2,128 originated 7.0% denied
Compare Residential Mortgage Network, Inc. vs Greenstate Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Residential Mortgage Network, Inc. process?
Residential Mortgage Network, Inc. processed 514 mortgage applications in the 2024 HMDA reporting year. Of these, 465 were originated (approved and funded), 46 were withdrawn by the applicant, and 3 were denied.
What is Residential Mortgage Network, Inc.'s mortgage approval rate?
Residential Mortgage Network, Inc. has an approval (origination) rate of 90.5%, meaning 90.5% of all applications resulted in a funded mortgage. The denial rate is 0.6%.
What is the average loan amount at Residential Mortgage Network, Inc.?
The average mortgage loan amount at Residential Mortgage Network, Inc. is $231,498. The average interest rate is 6.530%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Residential Mortgage Network, Inc.?
The most common reasons for mortgage denial at Residential Mortgage Network, Inc. are: Other, Credit application incomplete. In total, 3 applications were denied out of 514 total applications.
What types of mortgage loans does Residential Mortgage Network, Inc. offer?
Residential Mortgage Network, Inc. processes Conventional, VA, FHA, USDA loans. The most common type is Conventional with 212 applications and an average loan amount of $212,594.
What loan purposes does Residential Mortgage Network, Inc. serve?
Residential Mortgage Network, Inc. serves the following loan purposes: Home Purchase (455 applications), Refinancing (30 applications), Other (24 applications), Cash-out Refinancing (5 applications). Home Purchase is the most common purpose.
Where is Residential Mortgage Network, Inc. located?
Residential Mortgage Network, Inc. is headquartered in Iowa City, IA. The lender is identified by LEI 549300NTQ8BOK9455W21 in HMDA data.
How does Residential Mortgage Network, Inc. compare in lending across racial demographics?
Residential Mortgage Network, Inc. reports demographic lending data under HMDA requirements. White applicants have an approval rate of 91.6% and denial rate of 0.4%; Joint applicants have an approval rate of 76.2% and denial rate of 0.0%; Black or African American applicants have an approval rate of 92.9% and denial rate of 0.0%. 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.