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Otero County, New Mexico
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.
Otero County, New Mexico, saw 2,013 HMDA-reported applications and 1,039 originations ($207m) in 2024.
That is 42.4 originations per 1,000 households, against 43.7 for New Mexico and 48.0 nationally.
The county's denial rate was 25.9%, close to the state rate of 25.7%. The median rate spread on originated loans was 0.4 percentage points and 24.1% of originations were 1.5 points or more above the average prime offer rate.
18 lenders reached 25 applications in the county; the most active by originations were Gateway First Bank (126), Click n' Close, Inc. (110) and Rocket Mortgage (77).
Originations were up 20% on 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Gateway First Bank | 165 | 126 | $16m | 4.5% | — |
| 2 | Click n' Close, Inc. | 141 | 110 | $27m | 0.0% | — |
| 3 | Rocket Mortgage | 96 | 77 | $14m | 13.5% | — |
| 4 | 21st Mortgage | 208 | 63 | $7.4m | 54.1% | — |
| 5 | Mortgage Research Center | 130 | 61 | $15m | 24.7% | — |
| 6 | United Wholesale Mortgage | 79 | 55 | $14m | 10.3% | — |
| 7 | Usaa Bank | 46 | 28 | $7.1m | 17.6% | — |
| 8 | Pennymac Loan Services LLC | 47 | 25 | $5.8m | 20.6% | — |
| 9 | Navy Federal Credit Union | 59 | 24 | $5.2m | 33.3% | — |
| 10 | Fairway Independent Mort Corp | 25 | 22 | $4.4m | — | — |
| 11 | Waterstone Mortgage Corporation | 34 | 21 | $2.6m | — | — |
| 12 | Freedom Mortgage Corporation | 43 | 20 | $4.7m | — | — |
| 13 | Vanderbilt Mortgage and Finance, Inc | 74 | 17 | $1.8m | 65.5% | — |
| 14 | CMG Mortgage Inc | 25 | 16 | $2.9m | — | — |
| 15 | New American Funding, LLC. | 37 | 12 | $2.2m | — | — |
| 16 | Amerisave Mortgage Company | 34 | 8 | $860k | 71.4% | — |
| 17 | New Day Financial, LLC. | 29 | 2 | $480k | — | — |
| 18 | Discover Bank | 27 | 2 | $150k | — | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 18. Denial rate is denials over decided applications in this county.
Compared with New Mexico and the nation
| Measure | This county | New Mexico | United States |
|---|---|---|---|
| Denial rate | 25.9% | 25.7% | 24.3% |
| Median rate spread, pp | 0.4 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 24.1% | 22.3% | 15.6% |
| Average originated loan | $199k | $247k | $329k |
| Originations per 1,000 households | 42.4 | 43.7 | 48.0 |
| Home purchase share of originations | 72.7% | 62.7% | 57.0% |
| FHA-insured share | 14.6% | 17.8% | 13.4% |
| VA-guaranteed share | 37.9% | 12.0% | 7.9% |
Rate spread distribution
Share of 838 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: New Mexico). 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 73% (755)Home improvement 2% (20)Refinancing 9% (90)Cash-out refinancing 12% (129)Other purpose 4% (45)
By type
Conventional 47% (489)FHA 15% (152)VA 38% (394)USDA 0% (4)
Trend by year
ApplicationsOriginations
This countyNew Mexico
Questions and answers
Which lenders are most active in Otero County, NM?
By 2024 originations: Gateway First Bank (126), Click n' Close, Inc. (110), Rocket Mortgage (77), 21st Mortgage (63), Mortgage Research Center (61). 18 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Otero County?
25.9% of decided applications were denied in 2024, against 25.7% across New Mexico and 24.3% nationally.
How many mortgages were originated in Otero County in 2024?
1,039 loans totalling $207m, from 2,013 applications; 42.4 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 35035; 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.