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Washington Trust Mortgage Company LLC

Westerly, RI

Washington Trust Mortgage Company LLC processed 974 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 577 loans with a 6.3% denial rate. Home Purchase was the primary loan purpose. Based in Westerly, RI. The approval rate of 59.2% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Washington Trust Mortgage Company LLC's 59.2% origination rate tells you how often an application turned into funded money; the 6.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (970 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.

974
Applications
577
Originated
6.3%
Denial Rate
$536,581
Avg Loan Amount
Avg Interest Rate: 6.655% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 970 577 60 $537,041
FHA 3 0 1 $401,667
USDA 1 0 0 $495,000

Top loan types - Washington Trust Mortgage Company LLC

Top loan types - Washington Trust Mortgage Company LLC Horizontal bar chart of the top 3 items by value (applications). Top loan types - Washington Trust Mortgage Company LLC Top 3 1. Conventional 970 2. FHA 3 3. USDA 1 Top 5 loan types by application volume at Washington Trust Mortgage Company LLC (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 Washington Trust Mortgage Company LLC (LEI: 549300L0OVX5O63S8C68) · 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
29
Other
20
Collateral
11
Credit history
9
Unverifiable information
3
Employment history
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 765 486 $545,902
Refinancing 119 58 $544,328
Cash-out Refinancing 71 24 $467,817
Other 13 5 $331,154
Home Improvement 6 4 $453,333

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 525 62.3% 5.7%
Asian 204 57.4% 5.4%
Black or African American * 48 54.2% 12.5%
Joint * 28 57.1% 0.0%
American Indian or Alaska Native * 7 42.9% 0.0%
2 or more minority races * 4 50.0% 50.0%

* 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 743 60.7% 6.1%
Hispanic or Latino * 35 62.9% 5.7%
Joint * 18 61.1% 5.6%

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

Nearby Lenders in RI

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

CBNA Year to Date

Providence, RI

116,492 apps 55,183 originated 26.6% denied

Embrace Home Loans, Inc.

Middletown, RI

7,798 apps 4,738 originated 6.8% denied

Beeline Loans, INC.

PROVIDENCE, RI

4,692 apps 320 originated 42.4% denied

Navigant Credit Union

Smithfield, RI

3,426 apps 2,143 originated 19.2% denied

Coastal1 Credit Union

PAWTUCKET, RI

2,133 apps 1,456 originated 24.1% denied
Compare Washington Trust Mortgage Company LLC vs CBNA Year to Date →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Washington Trust Mortgage Company LLC process?
Washington Trust Mortgage Company LLC processed 974 mortgage applications in the 2024 HMDA reporting year. Of these, 577 were originated (approved and funded), 226 were withdrawn by the applicant, and 61 were denied.
What is Washington Trust Mortgage Company LLC's mortgage approval rate?
Washington Trust Mortgage Company LLC has an approval (origination) rate of 59.2%, meaning 59.2% of all applications resulted in a funded mortgage. The denial rate is 6.3%.
What is the average loan amount at Washington Trust Mortgage Company LLC?
The average mortgage loan amount at Washington Trust Mortgage Company LLC is $536,581. The average interest rate is 6.655%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Washington Trust Mortgage Company LLC?
The most common reasons for mortgage denial at Washington Trust Mortgage Company LLC are: Debt-to-income ratio, Other, Collateral. In total, 61 applications were denied out of 974 total applications.
What types of mortgage loans does Washington Trust Mortgage Company LLC offer?
Washington Trust Mortgage Company LLC processes Conventional, FHA, USDA loans. The most common type is Conventional with 970 applications and an average loan amount of $537,041.
What loan purposes does Washington Trust Mortgage Company LLC serve?
Washington Trust Mortgage Company LLC serves the following loan purposes: Home Purchase (765 applications), Refinancing (119 applications), Cash-out Refinancing (71 applications), Other (13 applications), Home Improvement (6 applications). Home Purchase is the most common purpose.
Where is Washington Trust Mortgage Company LLC located?
Washington Trust Mortgage Company LLC is headquartered in Westerly, RI. The lender is identified by LEI 549300L0OVX5O63S8C68 in HMDA data.
How does Washington Trust Mortgage Company LLC compare in lending across racial demographics?
Washington Trust Mortgage Company LLC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 62.3% and denial rate of 5.7%; Asian applicants have an approval rate of 57.4% and denial rate of 5.4%; Black or African American applicants have an approval rate of 54.2% and denial rate of 12.5%. 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.