PlainLender

SOMERSET TRUST COMPANY

SOMERSET, PA

SOMERSET TRUST COMPANY processed 1,097 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 892 loans with a 11.5% denial rate. Home Purchase was the primary loan purpose. Based in SOMERSET, PA. The approval rate of 81.3% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. SOMERSET TRUST COMPANY processed 1,097 HMDA-reported mortgage applications in 2024, originating 892 loans and denying 126 for a denial rate of 11.5% (applicants themselves withdrew 57 files before a decision). The average loan amount was $126,340 at a 6.563% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300D1PL8LHKCBST97 from SOMERSET, PA.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. SOMERSET TRUST COMPANY's 81.3% origination rate tells you how often an application turned into funded money; the 11.5% 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 (1,061 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.

1,097
Applications
892
Originated
11.5%
Denial Rate
$126,340
Avg Loan Amount
Avg Interest Rate: 6.563% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,061 869 120 $126,857
USDA 36 23 6 $111,111

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for SOMERSET TRUST COMPANY (LEI: 549300D1PL8LHKCBST97) · 2023 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
69
Debt-to-income ratio
62
Collateral
14
Employment history
5
Other
4
Unverifiable information
2
Credit application incomplete
1
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 417 347 $196,918
Home Improvement 269 212 $61,840
Refinancing 230 190 $124,739
Other 180 142 $60,944
Cash-out Refinancing 1 1 $185,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 968 79.3% 12.9%
Joint 4 100.0% 0.0%
Asian 1 100.0% 0.0%
Black or African American 1 100.0% 0.0%

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 967 79.0% 13.0%
Hispanic or Latino 3 100.0% 0.0%
Joint 1 100.0% 0.0%

Nearby Lenders in PA

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

NEWREZ LLC

FORT WASHINGTON, PA

248,242 apps 52,121 originated 11.5% denied

PNC BANK N.A.

Pittsburgh, PA

127,108 apps 56,830 originated 25.4% denied

SPRING EQ, LLC

RADNOR, PA

104,263 apps 31,186 originated 54.8% denied

NVR MORTGAGE FINANCE, INC.

PITTSBURGH, PA

23,698 apps 17,311 originated 17.1% denied

FIRST NATIONAL BANK OF PA

PITTSBURGH, PA

22,946 apps 13,057 originated 25.0% denied
Compare SOMERSET TRUST COMPANY vs NEWREZ LLC →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

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Frequently Asked Questions

How many mortgage applications did SOMERSET TRUST COMPANY process?
SOMERSET TRUST COMPANY processed 1,097 mortgage applications in the 2023 HMDA reporting year. Of these, 892 were originated (approved and funded), 57 were withdrawn by the applicant, and 126 were denied.
What is SOMERSET TRUST COMPANY's mortgage approval rate?
SOMERSET TRUST COMPANY has an approval (origination) rate of 81.3%, meaning 81.3% of all applications resulted in a funded mortgage. The denial rate is 11.5%.
What is the average loan amount at SOMERSET TRUST COMPANY?
The average mortgage loan amount at SOMERSET TRUST COMPANY is $126,340. The average interest rate is 6.563%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at SOMERSET TRUST COMPANY?
The most common reasons for mortgage denial at SOMERSET TRUST COMPANY are: Credit history, Debt-to-income ratio, Collateral. In total, 126 applications were denied out of 1,097 total applications.
What types of mortgage loans does SOMERSET TRUST COMPANY offer?
SOMERSET TRUST COMPANY processes Conventional, USDA loans. The most common type is Conventional with 1,061 applications and an average loan amount of $126,857.
What loan purposes does SOMERSET TRUST COMPANY serve?
SOMERSET TRUST COMPANY serves the following loan purposes: Home Purchase (417 applications), Home Improvement (269 applications), Refinancing (230 applications), Other (180 applications), Cash-out Refinancing (1 applications). Home Purchase is the most common purpose.
Where is SOMERSET TRUST COMPANY located?
SOMERSET TRUST COMPANY is headquartered in SOMERSET, PA. The lender is identified by LEI 549300D1PL8LHKCBST97 in HMDA data.
How does SOMERSET TRUST COMPANY compare in lending across racial demographics?
SOMERSET TRUST COMPANY reports demographic lending data under HMDA requirements. White applicants have an approval rate of 79.3% and denial rate of 12.9%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%; Asian applicants have an approval rate of 100.0% 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.