T2 Financial LLC: mortgage applications, originations and denial rate, 2024

Lenders › T2 Financial LLC

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.

T2 Financial LLC's 2024 HMDA filing covers 10,314 applications and 7,840 originated loans totalling $2.6bn, in 34 states.

Its denial rate, the share of decided applications the lender denied, was 6.6%, below the national rate of 24.3% and below the Texas rate of 26.0%. 850 applications were withdrawn by the applicant and 44 files were closed for incompleteness; those are not counted in the denial rate.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); 6.5% of its originations had a spread of 1.5 points or more.

By loan purpose the originations were mostly home purchase (91%) and refinancing (4%); by loan type, conventional (61%) and FHA (29%).

The largest volumes were in Texas (1,554 originations), South Carolina (633 originations) and North Carolina (608 originations).

Applications were up 40% on 2023.

VA lender statistics list 84 VA-guaranteed loans for the lender in August 2026.

10,314applications, 20240 purchased loans, counted separately

7,840loans originated$2.6bn in total

6.6%denial rateUS 24.3% · TX 26.0%

0.5 ppmedian rate spread on originationsUS 0.3 pp

Compared with Texas and the nation

Measure	This lender	Texas, all lenders	United States
Denial rate (denied ÷ decided applications)	6.6%	26.0%	24.3%
Median rate spread, percentage points	0.5	0.2	0.3
Originations with spread of 1.5 pp or more	6.5%	11.8%	15.6%
Average originated loan	$329k	$350k	$329k
Home purchase share of originations	90.7%	72.8%	57.0%
FHA-insured share of originations	28.9%	19.8%	13.4%
VA-guaranteed share of originations	9.1%	10.4%	7.9%
Applications withdrawn by applicant	8.2%	15.5%	14.3%

Texas 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 T2 Financial LLC, 2022–2024

This lenderTexasUnited States

Denial rate by year, with Texas and US rates dashed

Loan/application register records filed by T2 Financial LLC each year, 2018–2024 (HMDA transmittal sheets; includes purchased loans and preapproval requests)

Year	Applications	Originations	Amount	Denial rate	Median spread	LAR records
2018	—	—	—	—	—	124
2019	—	—	—	—	—	1,784
2020	—	—	—	—	—	7,607
2021	—	—	—	—	—	11,416
2022	9,030	6,765	$1.9bn	7.4%	0.8	9,030
2023	7,378	5,378	$1.6bn	8.4%	0.6	7,396
2024	10,314	7,840	$2.6bn	6.6%	0.5	10,314

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 91% (7,108)Home improvement 0% (23)Refinancing 4% (341)Cash-out refinancing 4% (286)Other purpose 1% (82)

By type

Conventional 61% (4,744)FHA 29% (2,265)VA 9% (711)USDA 2% (120)

Loan type	Applications	Originations	Denied	Denial rate (of applications)
Conventional	6,137	4,744	282	4.6%
FHA-insured	3,093	2,265	300	9.7%
VA-guaranteed	926	711	36	3.9%
USDA Rural Housing Service or Farm Service Agency guaranteed	158	120	7	4.4%

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	7,840	76.0%
2 Application approved but not accepted	955	9.3%
3 Application denied	625	6.1%
4 Application withdrawn by applicant	850	8.2%
5 File closed for incompleteness	44	0.4%
6 Purchased loan	0	0.0%
7 Preapproval request denied	0	0.0%
8 Preapproval request approved but not accepted	0	0.0%

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 ratio35%

Other27.8%

Collateral11.7%

Credit history9.8%

Unverifiable information7%

Insufficient cash (downpayment, closing costs)5%

Employment history3.7%

Credit application incomplete0%

Mortgage insurance denied0%

Share of the lender's 625 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
Texas	2,007	1,554	$465m	5.3%	0.4
South Carolina	851	633	$183m	8.4%	0.8
North Carolina	821	608	$188m	7.3%	0.6
Ohio	769	593	$158m	6.6%	0.6
Florida	741	516	$194m	9.1%	0.6
Connecticut	501	398	$133m	4.8%	0.5
Illinois	467	350	$133m	5.1%	0.4
Kentucky	399	324	$82m	6.0%	0.4
Washington	382	292	$136m	6.7%	0.4
Pennsylvania	292	228	$63m	7.0%	0.4
Virginia	282	237	$94m	2.7%	0.3
Tennessee	261	197	$64m	8.4%	0.4
Maryland	249	205	$78m	4.7%	0.5
Louisiana	228	145	$34m	12.2%	0.5
Maine	208	163	$46m	5.3%	0.8
Massachusetts	197	153	$85m	4.7%	0.3
Michigan	182	142	$34m	4.6%	0.7
Colorado	162	124	$61m	7.6%	0.6
Arizona	153	115	$37m	3.6%	0.3
Arkansas	153	121	$29m	5.5%	0.4
Missouri	122	93	$31m	3.6%	0.7
Kansas	122	111	$48m	1.7%	0.6
Georgia	120	69	$24m	15.3%	0.4
Oklahoma	82	60	$14m	14.3%	0.5
West Virginia	76	48	$9.9m	12.5%	0.6
Alabama	63	35	$9.5m	13.7%	0.8
New Jersey	62	50	$34m	5.1%	0.3
Idaho	58	45	$20m	6.0%	0.5
Wisconsin	45	38	$9.8m	6.8%	1.0
California	41	33	$18m	10.3%	0.4
Indiana	40	29	$8.2m	12.1%	0.5
Nevada	37	29	$13m	5.9%	0.6
New Hampshire	37	26	$12m	6.7%	—
Mississippi	33	22	$5.3m	13.3%	—

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
Lubbock County	TX	560	466	$114m	2.6%
Harris County	TX	413	305	$104m	5.6%
Horry County	SC	362	276	$72m	7.1%
Cook County	IL	300	208	$82m	7.5%
Franklin County	OH	263	206	$59m	6.1%
Northeastern Connecticut Planning Region	CT	131	107	$35m	3.9%
Johnson County	KS	108	102	$46m	1.0%
Montgomery County	TX	115	92	$34m	3.7%
Beaufort County	SC	108	92	$42m	2.0%
Wake County	NC	109	89	$39m	3.0%
Tom Green County	TX	109	83	$20m	7.2%
Pima County	AZ	108	79	$23m	2.1%
Naugatuck Valley Planning Region	CT	97	78	$25m	6.5%
Pierce County	WA	103	75	$37m	2.1%
Madison County	KY	82	71	$20m	0.0%
Brevard County	FL	119	69	$26m	8.8%
Androscoggin County	ME	82	66	$19m	5.5%
Shelby County	TN	88	63	$16m	11.1%
Muskegon County	MI	81	63	$13m	5.2%
Middlesex County	MA	76	63	$41m	0.0%
Southeastern Connecticut Planning Region	CT	82	62	$19m	1.3%
Onslow County	NC	79	62	$19m	4.1%
Lehigh County	PA	68	55	$14m	6.5%
Wilson County	NC	60	55	$14m	0.0%
King County	WA	65	54	$29m	6.3%
Montgomery County	MD	64	53	$25m	4.8%
South Central Connecticut Planning Region	CT	68	51	$17m	8.2%
Garfield County	CO	66	50	$26m	8.8%
Lee County	FL	70	48	$19m	12.9%
Capitol Planning Region	CT	62	47	$14m	8.8%

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

VA-guaranteed loans by month

All VA loansPurchase

Loans guaranteed by VA for T2 FINANCIAL LLC, Sep 2024 to Aug 2026 (VA lender statistics, national)

Month	All	Purchase	Cash-out	IRRRL
Aug 2026	84	80	1	3
Jul 2026	94	83	5	6
Jun 2026	56	51	3	2
May 2026	27	26	1	0
Apr 2026	76	64	4	8
Mar 2026	91	76	6	9
Feb 2026	62	48	5	9
Jan 2026	80	64	4	12
Dec 2025	25	20	1	4
Nov 2025	97	79	5	13
Oct 2025	35	28	3	4
Sep 2025	119	113	5	1

Fiscal-year totals (VA): FY2019 4,375,511 · FY2020 57,387,882 · FY2021 154,814,972 · FY2022 170,349,978 · FY2023 142,561,034 · FY2024 204,370,138 · FY2025 349,140,992. Matched to the VA lender name "T2 FINANCIAL LLC"; VA counts loans by guarantee date, HMDA by application year, so the two series differ.

Questions and answers

How many mortgages did T2 Financial LLC originate in 2024?

7,840 loans totalling $2.6bn, from 10,314 applications reported under HMDA. It also purchased 0 loans from other institutions, which are counted separately.

What is T2 Financial LLC's denial rate and how does it compare?

6.6% of decided applications were denied in 2024, against 24.3% nationally and 26.0% in Texas. 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 T2 Financial LLC lend in most?

By originations: Lubbock County, TX (466), Harris County, TX (305), Horry County, SC (276), Cook County, IL (208) and Franklin County, OH (206).

What loan types does T2 Financial LLC make?

Conventional 4,744, FHA 2,265, VA 711 and USDA 120 originations in 2024; by purpose, home purchase 7,108, home improvement 23, refinancing 341, cash-out refinancing 286 and other purpose 82.

What reasons did T2 Financial LLC report for denials?

The first denial reason recorded most often was debt-to-income ratio (219), other (174) and collateral (73), 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.