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Webster First Federal Credit Union

WORCESTER, MA

Webster First Federal Credit Union processed 870 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 419 loans with a 21.7% denial rate. Home Improvement was the primary loan purpose. Based in WORCESTER, MA. The approval rate of 48.2% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Webster First Federal Credit Union's 48.2% origination rate tells you how often an application turned into funded money; the 21.7% 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, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (870 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.

870
Applications
419
Originated
21.7%
Denial Rate
$264,322
Avg Loan Amount
Avg Interest Rate: 7.191% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 870 419 189 $264,322

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Webster First Federal Credit Union (LEI: 549300LI67PLCC1Z3P80) · 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 Approval rates exclude withdrawn / incomplete applications.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
111
Credit history
94
Other
50
Credit application incomplete
10
Employment history
7
Collateral
6
Unverifiable information
4
Mortgage insurance denied
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 304 169 $86,908
Home Purchase 286 103 $534,545
Cash-out Refinancing 135 86 $245,815
Other 121 52 $90,289
Refinancing 24 9 $272,917

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 497 49.7% 20.9%
Black or African American * 26 23.1% 50.0%
Asian * 20 10.0% 25.0%
Joint * 2 100.0% 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 502 46.8% 21.7%
Hispanic or Latino * 33 39.4% 36.4%
Joint * 7 42.9% 42.9%

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

Nearby Lenders in MA

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

Digital Federal Credit Union

Marlborough, MA

11,503 apps 4,232 originated 23.0% denied

Leader Bank NA

Arlington, MA

6,683 apps 5,398 originated 2.6% denied

Rockland Trust Bank

BROCKTON, MA

5,681 apps 2,932 originated 30.2% denied

Eastern Bank

Lynn, MA

5,146 apps 3,130 originated 29.4% denied

Cape Cod Five Cents Savings Bank

HYANNIS, MA

2,836 apps 2,014 originated 10.2% denied
Compare Webster First Federal Credit Union vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Webster First Federal Credit Union process?
Webster First Federal Credit Union processed 870 mortgage applications in the 2024 HMDA reporting year. Of these, 419 were originated (approved and funded), 53 were withdrawn by the applicant, and 189 were denied.
What is Webster First Federal Credit Union's mortgage approval rate?
Webster First Federal Credit Union has an approval (origination) rate of 48.2%, meaning 48.2% of all applications resulted in a funded mortgage. The denial rate is 21.7%.
What is the average loan amount at Webster First Federal Credit Union?
The average mortgage loan amount at Webster First Federal Credit Union is $264,322. The average interest rate is 7.191%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Webster First Federal Credit Union?
The most common reasons for mortgage denial at Webster First Federal Credit Union are: Debt-to-income ratio, Credit history, Other. In total, 189 applications were denied out of 870 total applications.
What types of mortgage loans does Webster First Federal Credit Union offer?
Webster First Federal Credit Union processes Conventional loans. The most common type is Conventional with 870 applications and an average loan amount of $264,322.
What loan purposes does Webster First Federal Credit Union serve?
Webster First Federal Credit Union serves the following loan purposes: Home Improvement (304 applications), Home Purchase (286 applications), Cash-out Refinancing (135 applications), Other (121 applications), Refinancing (24 applications). Home Improvement is the most common purpose.
Where is Webster First Federal Credit Union located?
Webster First Federal Credit Union is headquartered in WORCESTER, MA. The lender is identified by LEI 549300LI67PLCC1Z3P80 in HMDA data.
How does Webster First Federal Credit Union compare in lending across racial demographics?
Webster First Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 49.7% and denial rate of 20.9%; Black or African American applicants have an approval rate of 23.1% and denial rate of 50.0%; Asian applicants have an approval rate of 10.0% and denial rate of 25.0%. 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.