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Bank of America NA in North Carolina

HMDA record for properties in North Carolina, calendar year 2024. National record · North Carolina overview

LEI B4TYDEB6GKMZO031MB27
Reporting agency Consumer Financial Protection Bureau
State North Carolina

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.

Bank of America NA's 2024 HMDA record for North Carolina covers 10,448 applications, 4,872 of them originated, worth $1.3bn.

Its denial rate in the state was 38.0%, above the North Carolina rate of 24.0% across all lenders and compared with the lender's national rate of 48.1%.

The median rate spread on its North Carolina originations was 0.8 percentage points (state median 0.2).

Applications in the state were down 11% on 2023.

10,448applications in NC, 20244.8% of the lender's total
4,872loans originated$1.3bn
38.0%denial rateNC all lenders 24.0%
0.8 ppmedian rate spreadNC 0.2 pp

Compared with the state and the lender's national record

MeasureIn North CarolinaNorth Carolina, all lendersBank of America NA, all statesUnited States
Denial rate38.0%24.0%48.1%24.3%
Median rate spread, pp0.80.21.10.3
Originations with spread of 1.5 pp or more23.6%11.8%41.1%15.6%
Average originated loan$266k$299k$360k$329k
Home purchase share33.4%56.3%31.8%57.0%
FHA-insured share0.5%11.8%0.5%13.4%
VA-guaranteed share0.1%11.8%0.1%7.9%

Trend by year

ApplicationsOriginations

07,66515,3302022: 15,330 Applications2023: 11,777 Applications2024: 10,448 Applications2022: 6,606 Originations2023: 5,150 Originations2024: 4,872 Originations202220232024
Bank of America NA in North Carolina: applications and originations, 2022–2024

This lender in stateNorth Carolina, all lenders

0%23.3%46.6%2022: 45.8% This lender in state2023: 46.6% This lender in state2024: 38% This lender in state202220232024
Denial rate by year, state rate dashed

Loan purpose and loan type in North Carolina

By purpose

Home purchase 33% (1,629)Home improvement 32% (1,578)Refinancing 15% (725)Cash-out refinancing 2% (78)Other purpose 18% (862)

By type

Conventional 99% (4,841)FHA 1% (26)VA 0% (5)

Denial reasons as coded

Credit history48.4%
Debt-to-income ratio36.9%
Collateral8.6%
Unverifiable information3%
Other2.3%
Insufficient cash (downpayment, closing costs)0.6%
Employment history0.1%
Credit application incomplete0%
Mortgage insurance denied0%

Share of 3,123 denials in North Carolina by first denial reason coded (outlined bar: all lenders in the state).

Counties in North Carolina

CountyApplicationsOriginationsAmountDenial rate
Mecklenburg County2,7301,461$441m31.7%
Wake County1,289655$188m32.0%
Union County559276$73m35.9%
Guilford County562225$40m46.6%
Iredell County352173$52m31.9%
Cabarrus County351157$28m41.2%
Gaston County335152$31m38.7%
Buncombe County282149$45m27.6%
Forsyth County278128$21m40.5%
Durham County279118$29m43.7%
New Hanover County264112$38m38.8%
Brunswick County227112$33m29.2%
Lincoln County15483$20m26.9%
Catawba County15971$13m37.2%
Rowan County15163$10m44.7%
Johnston County14663$11m46.2%
Orange County11663$24m28.1%
Cumberland County17357$7.1m59.2%
Chatham County9246$14m31.0%
Pitt County11044$8.8m49.5%
Henderson County10843$13m40.7%
Moore County8838$5.8m40.0%
Alamance County11837$13m60.2%
Davidson County10134$4.7m52.0%
Onslow County11032$7.8m56.2%
Watauga County5825$11m35.7%
Craven County5022$3.0m33.3%
Harnett County7021$3.3m59.6%
Pender County5719$4.5m55.8%
Franklin County5319$4.3m52.4%
Rutherford County3618$3.4m41.2%
Caldwell County3518$2.8m41.9%
Carteret County4317$6.0m51.4%
Rockingham County3117$2.6m41.4%
Randolph County5715$2.2m62.8%
Haywood County3215$3.9m—
Macon County3113$3.4m36.0%
Burke County4212$3.3m62.5%
Cleveland County3512$2.4m50.0%
Stanly County2912$2.5m—

Counties with at least 25 applications, by originations.

Questions and answers

How many mortgages did Bank of America NA originate in North Carolina in 2024?

4,872 loans totalling $1.3bn, from 10,448 applications reported for properties in North Carolina.

What is Bank of America NA's denial rate in North Carolina?

38.0% of decided applications in North Carolina were denied, against 24.0% for all lenders in the state and 48.1% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.

Which North Carolina counties does Bank of America NA lend in most?

By originations: Mecklenburg County (1,461), Wake County (655), Union County (276), Guilford County (225), Iredell County (173).

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 North Carolina. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.