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Somerset County, Maryland
Mortgage lending record for properties in the county, calendar year 2024.
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 699 mortgage applications in Somerset County, Maryland, for 2024, and originated 341 loans worth $60m.
That is 40.8 originations per 1,000 households, against 49.5 for Maryland and 48.0 nationally.
The county's denial rate was 30.7%, above the state rate of 24.9%. The median rate spread on originated loans was 0.6 percentage points and 16.7% of originations were 1.5 points or more above the average prime offer rate.
5 lenders reached 25 applications in the county; the most active by originations were Rocket Mortgage (37), Movement Mortgage, LLC (24) and State Employees Credit Union of Maryland (18).
Originations were up 14% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | 51 | 37 | $5.3m | 19.1% | — |
| 2 | Movement Mortgage, LLC | 37 | 24 | $4.1m | 8.6% | — |
| 3 | State Employees Credit Union of Maryland | 48 | 18 | $1.7m | 56.1% | — |
| 4 | PNC Bank N.A. | 39 | 13 | $965k | 56.7% | — |
| 5 | Vanderbilt Mortgage and Finance, Inc | 32 | 0 | $0 | — | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 5. Denial rate is denials over decided applications in this county.
Compared with Maryland and the nation
| Measure | This county | Maryland | United States |
|---|---|---|---|
| Denial rate | 30.7% | 24.9% | 24.3% |
| Median rate spread, pp | 0.6 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 16.7% | 17.7% | 15.6% |
| Average originated loan | $177k | $348k | $329k |
| Originations per 1,000 households | 40.8 | 49.5 | 48.0 |
| Home purchase share of originations | 59.2% | 56.2% | 57.0% |
| FHA-insured share | 21.7% | 14.6% | 13.4% |
| VA-guaranteed share | 11.4% | 10.0% | 7.9% |
Rate spread distribution
Share of 306 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: Maryland). 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 59% (202)Home improvement 6% (19)Refinancing 9% (29)Cash-out refinancing 16% (56)Other purpose 10% (35)
By type
Conventional 63% (216)FHA 22% (74)VA 11% (39)USDA 4% (12)
Trend by year
ApplicationsOriginations
This countyMaryland
Questions and answers
Which lenders are most active in Somerset County, MD?
By 2024 originations: Rocket Mortgage (37), Movement Mortgage, LLC (24), State Employees Credit Union of Maryland (18), PNC Bank N.A. (13), Vanderbilt Mortgage and Finance, Inc (0). 5 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Somerset County?
30.7% of decided applications were denied in 2024, against 24.9% across Maryland and 24.3% nationally.
How many mortgages were originated in Somerset County in 2024?
341 loans totalling $60m, from 699 applications; 40.8 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 24039; 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.