PlainLender

Spring Eq, LLC

RADNOR, PA

Spring Eq, LLC processed 104,263 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 31,186 loans with a 54.8% denial rate. Other was the primary loan purpose. Based in RADNOR, PA. The approval rate of 29.9% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Spring Eq, LLC's 29.9% origination rate tells you how often an application turned into funded money; the 54.8% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit application incomplete, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (104,263 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.

104,263
Applications
31,186
Originated
54.8%
Denial Rate
$107,687
Avg Loan Amount
Avg Interest Rate: 10.250% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 104,263 31,186 57,095 $107,687

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Spring Eq, LLC (LEI: 549300PIL8LFAQ04XC20) · 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 Approval rates exclude withdrawn / incomplete applications.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

Credit application incomplete
35,331
Debt-to-income ratio
11,882
Collateral
9,763
Credit history
3,916
Other
2,734
Unverifiable information
850
Employment history
80

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 63,542 17,949 $98,553
Home Improvement 26,496 8,684 $100,303
Cash-out Refinancing 8,226 2,547 $165,457
Refinancing 4,537 1,681 $158,397
Home Purchase 1,462 325 $156,088

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 58,710 34.0% 51.4%
Black or African American 9,037 25.4% 59.0%
Asian 5,240 25.3% 59.3%
Joint 1,530 34.2% 49.9%
American Indian or Alaska Native 659 28.1% 58.0%
Native Hawaiian or Other Pacific Islander 294 32.3% 53.7%
2 or more minority races 250 22.0% 60.8%

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 63,432 32.8% 52.1%
Hispanic or Latino 12,990 27.7% 58.6%
Joint 2,225 35.9% 49.1%

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

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

Police and Fire Federal Credit Union

3333 STREET ROAD, PA

12,994 apps 6,631 originated 33.6% denied
Compare Spring Eq, LLC vs Newrez LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Spring Eq, LLC process?
Spring Eq, LLC processed 104,263 mortgage applications in the 2024 HMDA reporting year. Of these, 31,186 were originated (approved and funded), 13,927 were withdrawn by the applicant, and 57,095 were denied.
What is Spring Eq, LLC's mortgage approval rate?
Spring Eq, LLC has an approval (origination) rate of 29.9%, meaning 29.9% of all applications resulted in a funded mortgage. The denial rate is 54.8%.
What is the average loan amount at Spring Eq, LLC?
The average mortgage loan amount at Spring Eq, LLC is $107,687. The average interest rate is 10.250%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at Spring Eq, LLC?
The most common reasons for mortgage denial at Spring Eq, LLC are: Credit application incomplete, Debt-to-income ratio, Collateral. In total, 57,095 applications were denied out of 104,263 total applications.
What types of mortgage loans does Spring Eq, LLC offer?
Spring Eq, LLC processes Conventional loans. The most common type is Conventional with 104,263 applications and an average loan amount of $107,687.
What loan purposes does Spring Eq, LLC serve?
Spring Eq, LLC serves the following loan purposes: Other (63,542 applications), Home Improvement (26,496 applications), Cash-out Refinancing (8,226 applications), Refinancing (4,537 applications), Home Purchase (1,462 applications). Other is the most common purpose.
Where is Spring Eq, LLC located?
Spring Eq, LLC is headquartered in RADNOR, PA. The lender is identified by LEI 549300PIL8LFAQ04XC20 in HMDA data.
How does Spring Eq, LLC compare in lending across racial demographics?
Spring Eq, LLC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 34.0% and denial rate of 51.4%; Black or African American applicants have an approval rate of 25.4% and denial rate of 59.0%; Asian applicants have an approval rate of 25.3% and denial rate of 59.3%. 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.