PlainLender

Trustco Bank

Albany, NY

Trustco Bank processed 4,516 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,453 loans with a 25.7% denial rate. Other was the primary loan purpose. Based in Albany, NY. The approval rate of 54.3% 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. Trustco Bank processed 4,516 HMDA-reported mortgage applications in 2024, originating 2,453 loans and denying 1,160 for a denial rate of 25.7% (applicants themselves withdrew 625 files before a decision). The average loan amount was $222,868 at a 5.948% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300GCEP3NM7A1X491 from Albany, NY.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Trustco Bank's 54.3% origination rate tells you how often an application turned into funded money; the 25.7% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (4,512 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.

4,516
Applications
2,453
Originated
25.7%
Denial Rate
$222,868
Avg Loan Amount
Avg Interest Rate: 5.948% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 4,512 2,453 1,160 $222,770
FHA 3 0 0 $328,333
VA 1 0 0 $345,000

Top loan types — Trustco Bank

Top loan types — Trustco Bank Horizontal bar chart of the top 3 items by value (applications). Top loan types — Trustco Bank Top 3 1. Conventional 4,512 2. FHA 3 3. VA 1 Top 5 loan types by application volume at Trustco Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Trustco Bank (LEI: 549300GCEP3NM7A1X491) · 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

Debt-to-income ratio
657
Credit history
386
Collateral
273
Other
165
Employment history
40
Unverifiable information
30

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 1,711 844 $132,633
Home Purchase 1,370 817 $395,876
Home Improvement 579 307 $118,022
Cash-out Refinancing 576 283 $190,243
Refinancing 280 202 $211,679

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 2,956 56.5% 26.0%
Asian 685 50.8% 18.8%
Black or African American 133 40.6% 44.4%
Joint 75 61.3% 17.3%
Native Hawaiian or Other Pacific Islander 18 27.8% 33.3%
American Indian or Alaska Native 17 35.3% 47.1%
2 or more minority races 9 44.4% 55.6%

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 3,253 57.1% 22.8%
Hispanic or Latino 465 37.9% 46.0%
Joint 87 54.0% 25.3%

Nearby Lenders in NY

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

Citibank, NA

New York, NY

54,575 apps 14,104 originated 8.6% denied

M&T BANK

BUFFALO, NY

36,377 apps 20,743 originated 30.9% denied

Loan Funder LLC

New York, NY

23,955 apps 10,690 originated 11.6% denied

BETHPAGE FEDERAL CREDIT UNION

BETHPAGE, NY

21,186 apps 9,086 originated 44.3% denied

Better Mortgage Corporation

New York, NY

18,219 apps 5,450 originated 11.3% denied
Compare Trustco Bank vs Citibank, NA →

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 Trustco Bank process?
Trustco Bank processed 4,516 mortgage applications in the 2023 HMDA reporting year. Of these, 2,453 were originated (approved and funded), 625 were withdrawn by the applicant, and 1,160 were denied.
What is Trustco Bank's mortgage approval rate?
Trustco Bank has an approval (origination) rate of 54.3%, meaning 54.3% of all applications resulted in a funded mortgage. The denial rate is 25.7%.
What is the average loan amount at Trustco Bank?
The average mortgage loan amount at Trustco Bank is $222,868. The average interest rate is 5.948%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Trustco Bank?
The most common reasons for mortgage denial at Trustco Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 1,160 applications were denied out of 4,516 total applications.
What types of mortgage loans does Trustco Bank offer?
Trustco Bank processes Conventional, FHA, VA loans. The most common type is Conventional with 4,512 applications and an average loan amount of $222,770.
What loan purposes does Trustco Bank serve?
Trustco Bank serves the following loan purposes: Other (1,711 applications), Home Purchase (1,370 applications), Home Improvement (579 applications), Cash-out Refinancing (576 applications), Refinancing (280 applications). Other is the most common purpose.
Where is Trustco Bank located?
Trustco Bank is headquartered in Albany, NY. The lender is identified by LEI 549300GCEP3NM7A1X491 in HMDA data.
How does Trustco Bank compare in lending across racial demographics?
Trustco Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 56.5% and denial rate of 26.0%; Asian applicants have an approval rate of 50.8% and denial rate of 18.8%; Black or African American applicants have an approval rate of 40.6% and denial rate of 44.4%. 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.