Lenders › Bank of America NA › New Jersey
Bank of America NA 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, Bank of America NA reported 11,794 applications and 4,633 originations for 2024, $1.5bn in all.
Its denial rate in the state was 45.7%, above the New Jersey rate of 26.0% across all lenders and compared with the lender's national rate of 48.1%.
The median rate spread on its New Jersey originations was 1.3 percentage points (state median 0.4).
Applications in the state were down 9% on 2023.
Compared with the state and the lender's national record
| Measure | In New Jersey | New Jersey, all lenders | Bank of America NA, all states | United States |
|---|---|---|---|---|
| Denial rate | 45.7% | 26.0% | 48.1% | 24.3% |
| Median rate spread, pp | 1.3 | 0.4 | 1.1 | 0.3 |
| Originations with spread of 1.5 pp or more | 44.6% | 17.7% | 41.1% | 15.6% |
| Average originated loan | $322k | $387k | $360k | $329k |
| Home purchase share | 26.1% | 51.0% | 31.8% | 57.0% |
| FHA-insured share | 0.3% | 11.2% | 0.5% | 13.4% |
| VA-guaranteed share | 0.1% | 2.9% | 0.1% | 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 26% (1,208)Home improvement 35% (1,605)Refinancing 20% (934)Cash-out refinancing 2% (79)Other purpose 17% (807)
By type
Conventional 100% (4,616)FHA 0% (14)VA 0% (3)
Denial reasons as coded
Share of 4,098 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 | 1,396 | 559 | $187m | 42.4% |
| Monmouth County | 1,164 | 543 | $183m | 36.9% |
| Middlesex County | 1,220 | 468 | $101m | 44.9% |
| Ocean County | 956 | 419 | $110m | 38.0% |
| Morris County | 831 | 389 | $117m | 35.8% |
| Essex County | 976 | 384 | $155m | 45.9% |
| Union County | 768 | 280 | $91m | 51.0% |
| Somerset County | 603 | 272 | $79m | 35.9% |
| Mercer County | 534 | 233 | $71m | 38.3% |
| Burlington County | 506 | 182 | $36m | 53.9% |
| Camden County | 492 | 164 | $31m | 57.4% |
| Hudson County | 463 | 129 | $180m | 59.7% |
| Atlantic County | 382 | 106 | $28m | 61.1% |
| Passaic County | 403 | 105 | $17m | 64.9% |
| Hunterdon County | 221 | 99 | $22m | 35.4% |
| Cape May County | 181 | 82 | $48m | 36.6% |
| Gloucester County | 253 | 79 | $12m | 59.7% |
| Sussex County | 158 | 53 | $12m | 52.9% |
| Warren County | 137 | 50 | $8.4m | 52.8% |
| Cumberland County | 116 | 29 | $2.9m | 68.1% |
| Salem County | 34 | 8 | $540k | 73.3% |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Bank of America NA originate in New Jersey in 2024?
4,633 loans totalling $1.5bn, from 11,794 applications reported for properties in New Jersey.
What is Bank of America NA's denial rate in New Jersey?
45.7% of decided applications in New Jersey were denied, against 26.0% 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 New Jersey counties does Bank of America NA lend in most?
By originations: Bergen County (559), Monmouth County (543), Middlesex County (468), Ocean County (419), Morris County (389).
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.