Lenders › Sofi Bank, National Association › New Jersey
Sofi Bank, National Association in New Jersey
HMDA record for properties in New Jersey, calendar year 2024. National record · New Jersey overview
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.
In New Jersey, Sofi Bank, National Association reported 660 applications and 223 originations for 2024, $73m in all.
Its denial rate in the state was 34.3%, above the New Jersey rate of 26.0% across all lenders and compared with the lender's national rate of 30.3%.
The median rate spread on its New Jersey originations was 0.6 percentage points (state median 0.4).
Applications in the state were up 105% on 2023.
Compared with the state and the lender's national record
| Measure | In New Jersey | New Jersey, all lenders | Sofi Bank, National Association, all states | United States |
|---|---|---|---|---|
| Denial rate | 34.3% | 26.0% | 30.3% | 24.3% |
| Median rate spread, pp | 0.6 | 0.4 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 38.6% | 17.7% | 26.1% | 15.6% |
| Average originated loan | $329k | $387k | $317k | $329k |
| Home purchase share | 37.2% | 51.0% | 51.5% | 57.0% |
| FHA-insured share | 6.3% | 11.2% | 9.1% | 13.4% |
| VA-guaranteed share | 3.6% | 2.9% | 5.4% | 7.9% |
Trend by year
ApplicationsOriginations
This lender in stateNew Jersey, all lenders
Loan purpose and loan type in New Jersey
By purpose
Home purchase 37% (83)Home improvement 2% (5)Refinancing 9% (20)Cash-out refinancing 19% (43)Other purpose 32% (72)
By type
Conventional 90% (201)FHA 6% (14)VA 4% (8)
Denial reasons as coded
Share of 118 denials in New Jersey by first denial reason coded (outlined bar: all lenders in the state).
Counties in New Jersey
| County | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|
| Bergen County | 90 | 29 | $11m | 40.8% |
| Monmouth County | 63 | 26 | $8.9m | 27.8% |
| Essex County | 60 | 17 | $6.5m | 39.3% |
| Ocean County | 38 | 16 | $3.8m | — |
| Morris County | 46 | 15 | $5.5m | — |
| Middlesex County | 54 | 14 | $4.6m | 48.1% |
| Hudson County | 41 | 12 | $5.6m | — |
| Burlington County | 39 | 12 | $3.0m | — |
| Somerset County | 32 | 12 | $5.1m | — |
| Camden County | 33 | 11 | $1.8m | — |
| Union County | 28 | 11 | $3.6m | — |
| Passaic County | 34 | 9 | $2.5m | — |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Sofi Bank, National Association originate in New Jersey in 2024?
223 loans totalling $73m, from 660 applications reported for properties in New Jersey.
What is Sofi Bank, National Association's denial rate in New Jersey?
34.3% of decided applications in New Jersey were denied, against 26.0% for all lenders in the state and 30.3% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
Which New Jersey counties does Sofi Bank, National Association lend in most?
By originations: Bergen County (29), Monmouth County (26), Essex County (17), Ocean County (16), Morris County (15).
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), filtered to the lender's LEI and the property state. Cells under 25 applications are withheld.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records for this LEI with a property in New Jersey. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.