San Mateo County, CA: mortgage lenders, denial rate and originations, 2024

States › California › San Mateo County

HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.

Lenders reported 12,419 mortgage applications in San Mateo County, California, for 2024, and originated 7,577 loans worth $8.6bn.

That is 28.7 originations per 1,000 households, against 37.7 for California and 48.0 nationally.

The county's denial rate was 20.1%, below the state rate of 24.8%. The median rate spread on originated loans was 0.1 percentage points and 12.5% of originations were 1.5 points or more above the average prime offer rate.

77 lenders reached 25 applications in the county; the most active by originations were Bank of America NA (640), United Wholesale Mortgage (499) and Rocket Mortgage (471).

Originations were up 17% on 2023.

12,419applications, 2024

7,577loans originated$8.6bn

20.1%denial rateCA 24.8% · US 24.3%

28.7originations per 1,000 householdsCA 37.7 · US 48.0

Most active lenders

#	Lender	Applications	Originations	Amount	Denial rate	Median spread
1	Bank of America NA	1,113	640	$611m	26.3%	—
2	United Wholesale Mortgage	641	499	$385m	12.6%	—
3	Rocket Mortgage	624	471	$299m	18.3%	—
4	Wells Fargo Bank NA	698	469	$728m	9.4%	—
5	Us Bank, N.A.	705	387	$396m	32.4%	—
6	JPMorgan Chase Bank, NA	502	353	$643m	7.5%	—
7	BMO Harris Bank NA	450	252	$359m	26.5%	—
8	Citibank, NA	448	244	$584m	11.7%	—
9	HSBC Bank USA, NA	288	226	$408m	1.3%	—
10	PNC Bank N.A.	268	185	$468m	16.0%	—
11	Stanford Federal Credit Union	184	159	$109m	2.9%	—
12	Guaranteed Rate, Inc.	197	122	$120m	7.5%	—
13	Morgan Stanley Private Bank NA	151	116	$221m	2.3%	—
14	General Mortgage Capital Corporation	134	108	$90m	0.9%	—
15	Patelco Credit Union	193	93	$35m	28.1%	—
16	Provident Credit Union	101	83	$34m	0.0%	—
17	Conventus Lending LLC	92	82	$135m	0.0%	—
18	Fremont Bank	125	78	$44m	27.5%	—
19	Charles Schwab Bank, Ssb	82	77	$120m	4.9%	—
20	Monterra Credit Union	120	71	$34m	21.5%	—
21	Star One Credit Union	113	70	$40m	25.5%	—
22	Crosscountry Mortgage, LLC	108	69	$79m	2.8%	—
23	The Loan Store, Inc	92	67	$39m	8.1%	—
24	Loandepot.com, LLC	121	65	$39m	30.3%	—
25	East West Bank	100	64	$59m	6.7%	—
26	Figure Lending LLC	145	63	$9.3m	32.6%	—
27	Guaranteed Rate Affinity, LLC	89	62	$65m	8.8%	—
28	AmWest Funding Corp	96	58	$47m	9.4%	—
29	New American Funding, LLC.	110	55	$44m	11.1%	—
30	Spring Eq, LLC	199	53	$11m	66.7%	—
31	Finance of America Reverse LLC	71	49	$47m	8.9%	—
32	The Golden 1 Credit Union	78	48	$37m	32.9%	—
33	AmeriHome Mortgage Company, LLC	50	47	$62m	0.0%	—
34	Pennymac Loan Services LLC	83	43	$43m	22.4%	—
35	Googain, Inc	46	43	$33m	0.0%	—
36	Comerica Bank	87	41	$50m	40.5%	—
37	Change Lending, LLC	59	39	$25m	7.1%	—
38	Kiavi Funding, Inc.	52	39	$52m	10.6%	—
39	Ameris Bank	44	38	$24m	2.6%	—
40	American Pacific Mortgage Corporation	42	38	$38m	2.6%	—

Lenders with at least 25 applications in the county, by originations; up to 40 shown of 77. Denial rate is denials over decided applications in this county.

Compared with California and the nation

Measure	This county	California	United States
Denial rate	20.1%	24.8%	24.3%
Median rate spread, pp	0.1	0.4	0.3
Originations with spread of 1.5 pp or more	12.5%	19.9%	15.6%
Average originated loan	$1.1m	$566k	$329k
Originations per 1,000 households	28.7	37.7	48.0
Home purchase share of originations	53.1%	51.2%	57.0%
FHA-insured share	1.9%	11.4%	13.4%
VA-guaranteed share	0.6%	4.8%	7.9%

Rate spread distribution

Below 0 pp45.9%

0 to 0.5 pp23.8%

0.5 to 1 pp10.9%

1 to 1.5 pp6.9%

1.5 to 3 pp8.7%

3 or more pp3.8%

Share of 6,717 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: California). Loans at 1.5 points or more on a first lien are what Regulation C calls higher-priced.

Loan purpose and loan type

By purpose

Home purchase 53% (4,022)Home improvement 10% (755)Refinancing 17% (1,320)Cash-out refinancing 11% (855)Other purpose 8% (621)

By type

Conventional 98% (7,388)FHA 2% (145)VA 1% (44)

Trend by year

ApplicationsOriginations

Applications and originations in San Mateo County, 2022–2024

This countyCalifornia

Denial rate by year, state rate dashed

Questions and answers

Which lenders are most active in San Mateo County, CA?

By 2024 originations: Bank of America NA (640), United Wholesale Mortgage (499), Rocket Mortgage (471), Wells Fargo Bank NA (469), Us Bank, N.A. (387). 77 lenders had at least 25 applications in the county.

What is the mortgage denial rate in San Mateo County?

20.1% of decided applications were denied in 2024, against 24.8% across California and 24.3% nationally.

How many mortgages were originated in San Mateo County in 2024?

7,577 loans totalling $8.6bn, from 12,419 applications; 28.7 originations per 1,000 households.

Where does this data come from?

From the 2024 public HMDA loan/application register (FFIEC and CFPB), by property county; households from the Census Bureau American Community Survey 2024 five-year estimates.

Provenance

Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records with a property in county FIPS 06081; households and population from the U.S. Census Bureau (ACS 2024 five-year estimates; Vintage 2024 population estimates). Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.