Lenders › Cardinal Financial Company, Li › Michigan
Cardinal Financial Company, Li in Michigan
HMDA record for properties in Michigan, calendar year 2024. National record · Michigan 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.
Cardinal Financial Company, Li's 2024 HMDA record for Michigan covers 361 applications, 257 of them originated, worth $52m.
Its denial rate in the state was 10.3%, below the Michigan rate of 23.9% across all lenders and compared with the lender's national rate of 10.1%.
The median rate spread on its Michigan originations was 0.7 percentage points (state median 0.5).
Applications in the state were down 44% on 2023.
Compared with the state and the lender's national record
| Measure | In Michigan | Michigan, all lenders | Cardinal Financial Company, Li, all states | United States |
|---|---|---|---|---|
| Denial rate | 10.3% | 23.9% | 10.1% | 24.3% |
| Median rate spread, pp | 0.7 | 0.5 | 0.5 | 0.3 |
| Originations with spread of 1.5 pp or more | 17.3% | 18.4% | 13.5% | 15.6% |
| Average originated loan | $200k | $212k | $299k | $329k |
| Home purchase share | 74.3% | 51.2% | 82.0% | 57.0% |
| FHA-insured share | 38.1% | 10.0% | 39.3% | 13.4% |
| VA-guaranteed share | 5.1% | 4.5% | 9.1% | 7.9% |
Trend by year
ApplicationsOriginations
This lender in stateMichigan, all lenders
Loan purpose and loan type in Michigan
By purpose
Home purchase 74% (191)Refinancing 8% (21)Cash-out refinancing 12% (32)Other purpose 5% (13)
By type
Conventional 56% (144)FHA 38% (98)VA 5% (13)USDA 1% (2)
Denial reasons as coded
Share of 35 denials in Michigan by first denial reason coded (outlined bar: all lenders in the state).
Counties in Michigan
| County | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|
| St. Joseph County | 34 | 33 | $4.3m | 0.0% |
| Berrien County | 25 | 23 | $3.5m | 0.0% |
| Wayne County | 43 | 22 | $4.3m | 26.3% |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Cardinal Financial Company, Li originate in Michigan in 2024?
257 loans totalling $52m, from 361 applications reported for properties in Michigan.
What is Cardinal Financial Company, Li's denial rate in Michigan?
10.3% of decided applications in Michigan were denied, against 23.9% for all lenders in the state and 10.1% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
Which Michigan counties does Cardinal Financial Company, Li lend in most?
By originations: St. Joseph County (33), Berrien County (23), Wayne County (22).
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 Michigan. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.