Waterstone Mortgage Corporation: mortgage applications, originations and denial rate, 2024

Lenders › Waterstone Mortgage Corporation

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. Figures are from the 2024 public HMDA loan/application register; cells under 25 applications are withheld.

In 2024, Waterstone Mortgage Corporation filed HMDA records for 10,738 applications and 7,813 originations in 34 states, worth $2.1bn.

Its denial rate, the share of decided applications the lender denied, was 5.8%, below the national rate of 24.3% and below the New Mexico rate of 25.7%. 2,354 applications were withdrawn by the applicant and 19 files were closed for incompleteness; those are not counted in the denial rate.

The median rate spread on its originated loans, the difference between the loan's APR and the average prime offer rate, was 0.5 percentage points (national median 0.3); 14.2% of its originations had a spread of 1.5 points or more.

By loan purpose the originations were mostly home purchase (92%) and cash-out refinancing (5%); by loan type, conventional (68%) and FHA (24%).

The largest volumes were in New Mexico (2,253 originations), Florida (1,591 originations) and Texas (519 originations).

Applications were about level with 2023.

VA lender statistics list 63 VA-guaranteed loans for the lender in August 2026.

10,738applications, 202411 purchased loans, counted separately

7,813loans originated$2.1bn in total

5.8%denial rateUS 24.3% · NM 25.7%

0.5 ppmedian rate spread on originationsUS 0.3 pp

Compared with New Mexico and the nation

Measure	This lender	New Mexico, all lenders	United States
Denial rate (denied ÷ decided applications)	5.8%	25.7%	24.3%
Median rate spread, percentage points	0.5	0.4	0.3
Originations with spread of 1.5 pp or more	14.2%	22.3%	15.6%
Average originated loan	$274k	$247k	$329k
Home purchase share of originations	92.5%	62.7%	57.0%
FHA-insured share of originations	23.5%	17.8%	13.4%
VA-guaranteed share of originations	7.7%	12.0%	7.9%
Applications withdrawn by applicant	21.9%	15.7%	14.3%

New Mexico is the lender's largest state by applications. State and national columns cover every HMDA reporter. Rate spread is reported on originated loans only.

Trend by year

ApplicationsOriginations

Applications and originations reported by Waterstone Mortgage Corporation, 2022–2024

This lenderNew MexicoUnited States

Denial rate by year, with New Mexico and US rates dashed

Loan/application register records filed by Waterstone Mortgage Corporation each year, 2018–2024 (HMDA transmittal sheets; includes purchased loans and preapproval requests)

Year	Applications	Originations	Amount	Denial rate	Median spread	LAR records
2018	—	—	—	—	—	16,002
2019	—	—	—	—	—	17,395
2020	—	—	—	—	—	25,108
2021	—	—	—	—	—	21,946
2022	14,122	10,270	$2.8bn	5.3%	0.8	14,139
2023	10,330	7,553	$2.1bn	5.6%	0.6	10,414
2024	10,738	7,813	$2.1bn	5.8%	0.5	10,831

Applications, originations and rates are computed from the public LAR for 2022, 2023, 2024; LAR record counts come from each year's transmittal sheet.

Loan purpose and loan type

By purpose

Home purchase 92% (7,227)Home improvement 0% (16)Refinancing 2% (183)Cash-out refinancing 5% (387)

By type

Conventional 68% (5,315)FHA 24% (1,838)VA 8% (603)USDA 1% (57)

Loan type	Applications	Originations	Denied	Denial rate (of applications)
Conventional	7,313	5,315	292	4.0%
FHA-insured	2,553	1,838	158	6.2%
VA-guaranteed	800	603	31	3.9%
USDA Rural Housing Service or Farm Service Agency guaranteed	72	57	2	2.8%

Shares are of originated loans. The per-type denial rate here divides denials by all applications of that type, because decided counts are not kept per type.

Action taken

HMDA action taken	Records	Share
1 Loan originated	7,813	72.1%
2 Application approved but not accepted	69	0.6%
3 Application denied	483	4.5%
4 Application withdrawn by applicant	2,354	21.7%
5 File closed for incompleteness	19	0.2%
6 Purchased loan	11	0.1%
7 Preapproval request denied	0	0.0%
8 Preapproval request approved but not accepted	82	0.8%

Codes and labels are the HMDA action-taken codes. Applications are codes 1–5; the denial rate divides code 3 by codes 1–3.

Denial reasons as coded

Debt-to-income ratio27.3%

Collateral22.6%

Credit history16.1%

Other10.8%

Credit application incomplete7.5%

Unverifiable information7%

Insufficient cash (downpayment, closing costs)5.2%

Employment history3.1%

Mortgage insurance denied0.4%

Share of the lender's 483 denials by the first denial reason it coded (outlined bar: all lenders nationally). Lenders may record up to four reasons; only the first is counted here.

States

State	Applications	Originations	Amount	Denial rate	Median spread
New Mexico	2,950	2,253	$452m	4.6%	0.7
Florida	2,273	1,591	$459m	7.5%	0.5
Texas	718	519	$177m	3.3%	0.4
Arizona	565	405	$164m	7.2%	0.3
Virginia	527	369	$107m	9.0%	0.6
Oklahoma	511	364	$88m	3.1%	0.4
Wisconsin	477	377	$95m	3.3%	0.5
Idaho	266	214	$71m	2.7%	0.4
Missouri	250	185	$44m	4.6%	0.3
Maryland	182	144	$54m	5.3%	0.4
Illinois	182	143	$36m	3.9%	0.8
Minnesota	171	133	$38m	2.9%	0.6
South Carolina	150	106	$28m	6.1%	0.6
Kansas	142	111	$38m	4.3%	0.4
Rhode Island	118	64	$27m	12.3%	0.3
New Hampshire	115	78	$25m	8.2%	0.6
Iowa	94	91	$16m	0.0%	0.4
Tennessee	88	52	$18m	5.4%	0.4
North Carolina	77	37	$13m	11.6%	0.4
Delaware	76	56	$19m	12.5%	0.3
Ohio	75	43	$8.1m	10.2%	1.0
Michigan	73	49	$9.4m	8.9%	0.8
Pennsylvania	64	42	$10m	14.3%	0.8
Connecticut	63	44	$12m	6.1%	0.4
Massachusetts	59	41	$19m	12.8%	0.4
Georgia	56	34	$14m	12.5%	0.4
West Virginia	53	34	$9.1m	2.9%	0.7
California	52	32	$16m	15.4%	0.3
New Jersey	45	28	$12m	6.5%	0.3
Colorado	42	26	$13m	7.1%	—
Indiana	38	29	$8.4m	12.1%	0.8
Kentucky	32	22	$4.8m	15.4%	—
Alabama	31	18	$4.3m	—	—
Washington	29	17	$7.3m	—	—

States with at least 25 applications. States with 100 or more link to the lender's page for that state.

Counties

County	State	Applications	Originations	Amount	Denial rate
Bernalillo County	NM	1,461	1,127	$214m	3.8%
Volusia County	FL	436	305	$80m	4.4%
Maricopa County	AZ	413	299	$128m	6.5%
Sandoval County	NM	376	299	$63m	3.8%
Orange County	FL	275	196	$63m	8.8%
Tulsa County	OK	278	192	$47m	2.0%
Doña Ana County	NM	247	181	$26m	9.9%
Valencia County	NM	172	129	$22m	2.2%
Santa Fe County	NM	178	127	$47m	5.2%
Okaloosa County	FL	149	117	$31m	7.9%
Jackson County	MO	140	102	$22m	4.7%
Pinellas County	FL	143	101	$30m	10.4%
Polk County	FL	135	98	$26m	7.5%
Seminole County	FL	134	97	$30m	3.0%
Canyon County	ID	110	97	$30m	1.0%
San Juan County	NM	121	92	$16m	2.1%
Ada County	ID	113	88	$33m	3.3%
Los Alamos County	NM	92	87	$32m	2.2%
Tarrant County	TX	108	85	$35m	0.0%
Lake County	FL	113	83	$24m	1.2%
Ector County	TX	100	74	$19m	2.6%
Johnson County	KS	85	71	$26m	2.7%
Pinal County	AZ	95	70	$22m	10.1%
Winnebago County	WI	70	63	$12m	3.1%
El Paso County	TX	91	61	$16m	11.3%
Palm Beach County	FL	92	59	$21m	9.2%
Hillsborough County	FL	90	59	$18m	7.8%
Outagamie County	WI	70	59	$13m	1.7%
Cook County	IL	76	56	$17m	1.7%
Osceola County	FL	71	53	$15m	8.6%

Up to 30 counties with at least 50 applications, by originations.

VA-guaranteed loans by month

All VA loansPurchase

Loans guaranteed by VA for WATERSTONE MORTGAGE CORPORATION, Sep 2024 to Aug 2026 (VA lender statistics, national)

Month	All	Purchase	Cash-out	IRRRL
Aug 2026	63	59	2	2
Jul 2026	69	65	3	1
Jun 2026	74	68	4	2
May 2026	58	52	2	4
Apr 2026	67	50	5	12
Mar 2026	71	55	3	13
Feb 2026	46	32	4	10
Jan 2026	60	49	3	8
Dec 2025	61	48	6	7
Nov 2025	66	48	4	14
Oct 2025	74	57	5	12
Sep 2025	76	70	3	3

Fiscal-year totals (VA): FY2018 235,210,913 · FY2019 245,048,395 · FY2020 324,384,443 · FY2021 364,071,483 · FY2022 245,950,046 · FY2023 234,748,591 · FY2024 219,074,951 · FY2025 288,191,088. Matched to the VA lender name "WATERSTONE MORTGAGE CORPORATION"; VA counts loans by guarantee date, HMDA by application year, so the two series differ.

Questions and answers

How many mortgages did Waterstone Mortgage Corporation originate in 2024?

7,813 loans totalling $2.1bn, from 10,738 applications reported under HMDA. It also purchased 11 loans from other institutions, which are counted separately.

What is Waterstone Mortgage Corporation's denial rate and how does it compare?

5.8% of decided applications were denied in 2024, against 24.3% nationally and 25.7% in New Mexico. 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.

Which counties does Waterstone Mortgage Corporation lend in most?

By originations: Bernalillo County, NM (1,127), Volusia County, FL (305), Maricopa County, AZ (299), Sandoval County, NM (299) and Orange County, FL (196).

What loan types does Waterstone Mortgage Corporation make?

Conventional 5,315, FHA 1,838, VA 603 and USDA 57 originations in 2024; by purpose, home purchase 7,227, home improvement 16, refinancing 183, cash-out refinancing 387 and other purpose 0.

What reasons did Waterstone Mortgage Corporation report for denials?

The first denial reason recorded most often was debt-to-income ratio (132), collateral (109) and credit history (78), as coded by the lender in its HMDA filing.

Where does this data come from?

From the 2024 public HMDA loan/application register published by the FFIEC and CFPB, with the lender's name from its HMDA transmittal sheet and VA loan volume from the Department of Veterans Affairs lender statistics. Cells under 25 applications are withheld.

Provenance

Source: Home Mortgage Disclosure Act public loan/application register for 2024 (trend years 2022, 2023, 2024) and transmittal sheets 2018–2024, published by the FFIEC and CFPB at ffiec.cfpb.gov, public domain; VA lender statistics from the Department of Veterans Affairs. Lender identity is the LEI and name on its transmittal sheet. This site was built 30 Sep 2026. Errors in processing are corrected at the next build; see corrections. Data through 1 Aug 2026.