States › New Mexico
New Mexico mortgage lending
Every HMDA reporter's applications, originations and denial rate for properties in New Mexico, with all 33 counties.
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. Record year 2024.
New Mexico had 68,029 HMDA-reported mortgage applications and 36,602 originations ($9.0bn) in 2024, from 187 lenders with at least 25 applications in the state.
The statewide denial rate was 25.7% (national 24.3%) and the median rate spread 0.4 percentage points (national 0.3). Originations ran at 43.7 per 1,000 households, against 48.0 nationally.
Originations in the state went from 38,594 in 2018 to 36,602 in 2024; the denial rate moved from 27.9% to 25.7%.
The most active lenders by originations were Rocket Mortgage (2,492), Waterstone Mortgage Corporation (2,253) and Guild Mortgage Company (2,245).
Most active lenders in New Mexico
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | 3,441 | 2,492 | $550m | 19.4% | 0.5 |
| 2 | Waterstone Mortgage Corporation | 2,950 | 2,253 | $452m | 4.6% | 0.7 |
| 3 | Guild Mortgage Company | 3,252 | 2,245 | $455m | 4.7% | 0.4 |
| 4 | Nusenda Federal Credit Union | 3,053 | 1,923 | $266m | 19.0% | 1.5 |
| 5 | United Wholesale Mortgage | 2,533 | 1,922 | $607m | 11.0% | 0.1 |
| 6 | Primary Residential Mortgage, INC. | 1,837 | 1,365 | $291m | 4.9% | 0.4 |
| 7 | Sunward | 1,746 | 1,199 | $259m | 13.0% | -0.7 |
| 8 | Bokf NA | 1,657 | 944 | $265m | 25.6% | 0.3 |
| 9 | 21st Mortgage | 4,255 | 811 | $113m | 68.5% | 3.3 |
| 10 | CMG Mortgage Inc | 1,064 | 700 | $136m | 6.6% | 0.4 |
| 11 | Mortgage Research Center | 1,386 | 695 | $214m | 22.1% | -0.1 |
| 12 | Primelending | 838 | 623 | $105m | 7.7% | 0.3 |
| 13 | Navy Federal Credit Union | 1,084 | 541 | $122m | 28.4% | -0.0 |
| 14 | JPMorgan Chase Bank, NA | 742 | 524 | $161m | 8.8% | 0.0 |
| 15 | Loandepot.com, LLC | 1,045 | 512 | $118m | 35.4% | 0.5 |
| 16 | Freedom Mortgage Corporation | 1,067 | 490 | $143m | 16.3% | 0.2 |
| 17 | Kirtland Federal Credit Union | 744 | 439 | $62m | 29.2% | 0.8 |
| 18 | DHI Mortgage Company, LTD. | 624 | 431 | $149m | 11.6% | -1.0 |
| 19 | Sandia Area Federal Credit Uni | 712 | 419 | $43m | 28.5% | — |
| 20 | Pennymac Loan Services LLC | 905 | 388 | $92m | 25.4% | 0.3 |
| 21 | Bell Bank | 471 | 382 | $87m | 4.5% | 0.2 |
| 22 | Bank of America NA | 1,017 | 372 | $75m | 49.5% | 2.1 |
| 23 | Crosscountry Mortgage, LLC | 642 | 366 | $107m | 2.9% | 0.5 |
| 24 | Nationstar Mortgage | 575 | 366 | $62m | 20.7% | 1.5 |
| 25 | U.S. Eagle Federal Credit Union | 514 | 351 | $37m | 18.2% | — |
| 26 | Directors Mortgage, Inc. | 461 | 332 | $96m | 4.8% | — |
| 27 | Del Norte Credit Union | 516 | 321 | $63m | 23.8% | -0.3 |
| 28 | Click n' Close, Inc. | 456 | 321 | $80m | 1.5% | 2.5 |
| 29 | Citizens Bank of Las Cruces | 374 | 321 | $83m | 4.7% | 0.3 |
| 30 | New American Funding, LLC. | 878 | 312 | $63m | 20.2% | 1.0 |
| 31 | Pulte Mortgage LLC | 482 | 306 | $134m | 15.5% | -0.8 |
| 32 | Us Bank, N.A. | 718 | 302 | $63m | 49.7% | 0.9 |
| 33 | Wells Fargo Bank NA | 602 | 270 | $71m | 35.9% | 0.2 |
| 34 | Kind Lending, LLC | 395 | 247 | $79m | 26.7% | 0.4 |
| 35 | State Employees Credit Union | 380 | 244 | $32m | 14.2% | 0.6 |
| 36 | Guaranteed Rate, Inc. | 496 | 241 | $54m | 17.8% | 0.4 |
| 37 | Gateway First Bank | 362 | 239 | $38m | 7.0% | 0.6 |
| 38 | Usaa Bank | 401 | 225 | $68m | 24.8% | -0.1 |
| 39 | Discover Bank | 1,247 | 216 | $17m | 75.3% | 2.3 |
| 40 | Vanderbilt Mortgage and Finance, Inc | 2,028 | 209 | $26m | 81.7% | 3.8 |
| 41 | Newrez LLC | 671 | 202 | $46m | 40.3% | 0.7 |
| 42 | Calcon Mutual Mortgage LLC | 275 | 198 | $63m | 4.8% | 0.4 |
| 43 | Sunflower Bank, N.A. | 304 | 190 | $69m | 9.5% | 0.2 |
| 44 | Mortgage Solutions of Colorado | 273 | 185 | $46m | 1.3% | 0.6 |
| 45 | Amerisave Mortgage Company | 982 | 179 | $23m | 77.7% | 2.8 |
| 46 | Hometrust Mortgage Company | 271 | 173 | $56m | 12.2% | 0.2 |
| 47 | Cardinal Financial Company, Li | 235 | 163 | $55m | 10.1% | 0.4 |
| 48 | Figure Lending LLC | 328 | 157 | $9.7m | 26.3% | 4.1 |
| 49 | Flagstar Bank NA | 296 | 154 | $40m | 29.8% | 0.3 |
| 50 | Neighborhood Loans, Inc. | 203 | 153 | $35m | 20.6% | 0.8 |
| 51 | First American Bank | 226 | 150 | $29m | 14.1% | 0.2 |
| 52 | Plains Commerce Bank | 240 | 147 | $44m | 3.3% | 0.3 |
| 53 | Spring Eq, LLC | 464 | 145 | $11m | 64.0% | 3.7 |
| 54 | Cornerstone Capital Bank, Ssb | 220 | 143 | $25m | 5.3% | 0.3 |
| 55 | Mutual of Omaha Mortgage | 279 | 142 | $41m | 33.0% | 0.3 |
| 56 | Mountain America Federal Credit Union | 393 | 140 | $22m | 51.2% | 0.8 |
| 57 | BMO Harris Bank NA | 408 | 139 | $32m | 49.3% | 0.9 |
| 58 | Paramount Residential Mortgage | 168 | 139 | $34m | 0.7% | 0.7 |
| 59 | Rio Grande Credit Union | 202 | 136 | $19m | 27.1% | — |
| 60 | Htlf Bank | 296 | 132 | $26m | 46.3% | -3.0 |
Top 60 of 187 lenders with at least 25 applications in the state, by originations. 94 lenders have 100 or more applications here and link to a state-specific page.
Compared with the nation
| Measure | New Mexico | United States |
|---|---|---|
| Denial rate | 25.7% | 24.3% |
| Median rate spread, pp | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 22.3% | 15.6% |
| Average originated loan | $247k | $329k |
| Originations per 1,000 households | 43.7 | 48.0 |
| Home purchase share of originations | 62.7% | 57.0% |
| FHA-insured share | 17.8% | 13.4% |
| VA-guaranteed share | 12.0% | 7.9% |
Trend, 2018–2024
ApplicationsOriginations
New MexicoUnited States
FHA share of originationsVA share
| Year | Applications | Originations | Amount | Denial rate | FHA | VA | Refinance share |
|---|---|---|---|---|---|---|---|
| 2018 | 70,200 | 38,594 | $7.5bn | 27.9% | 18.6% | 12.6% | 26.8% |
| 2019 | 79,738 | 45,431 | $9.6bn | 24.0% | 18.0% | 14.6% | 33.8% |
| 2020 | 118,648 | 70,510 | $16bn | 18.8% | 13.9% | 16.2% | 54.2% |
| 2021 | 131,043 | 76,305 | $18bn | 19.7% | 13.9% | 14.6% | 54.0% |
| 2022 | 82,432 | 44,221 | $11bn | 25.3% | 15.3% | 12.1% | 31.6% |
| 2023 | 59,802 | 31,521 | $7.8bn | 26.8% | 19.2% | 11.2% | 18.1% |
| 2024 | 68,029 | 36,602 | $9.0bn | 25.7% | 17.8% | 12.0% | 22.3% |
Yearly figures from the HMDA Data Browser aggregations for the state (all reporters).
Loan purpose and loan type, 2024
By purpose
Home purchase 63% (22,953)Home improvement 6% (2,306)Refinancing 9% (3,445)Cash-out refinancing 13% (4,729)Other purpose 9% (3,161)
By type
Conventional 69% (25,381)FHA 18% (6,521)VA 12% (4,401)USDA 1% (299)
Counties
| County | Applications | Originations | Per 1,000 households | Denial rate | Median spread | Lenders |
|---|---|---|---|---|---|---|
| Bernalillo County | 23,056 | 13,423 | 47.0 | 21.4% | 0.4 | 91 |
| Sandoval County | 7,999 | 4,673 | 82.1 | 21.4% | 0.3 | 62 |
| Doña Ana County | 7,606 | 3,855 | 45.4 | 28.8% | 0.4 | 56 |
| Santa Fe County | 5,011 | 2,685 | 37.9 | 25.5% | 0.3 | 52 |
| Valencia County | 3,423 | 1,841 | 66.7 | 26.1% | 0.3 | 35 |
| San Juan County | 3,031 | 1,436 | 34.4 | 33.1% | 0.6 | 31 |
| Otero County | 2,013 | 1,039 | 42.4 | 25.9% | 0.4 | 18 |
| Eddy County | 1,902 | 981 | 41.5 | 27.8% | 0.7 | 16 |
| Lea County | 1,942 | 887 | 36.0 | 33.0% | 1.0 | 18 |
| Curry County | 1,432 | 857 | 46.1 | 19.4% | 0.2 | 15 |
| Chaves County | 1,430 | 778 | 32.8 | 23.2% | 0.8 | 12 |
| Los Alamos County | 712 | 492 | 59.7 | 14.1% | 0.2 | 7 |
| Lincoln County | 828 | 410 | 41.0 | 31.4% | 0.6 | 5 |
| Taos County | 841 | 397 | 25.5 | 31.1% | 0.7 | 5 |
| Grant County | 695 | 334 | 29.6 | 27.3% | 0.5 | 5 |
| Rio Arriba County | 736 | 333 | 21.3 | 32.6% | 0.6 | 5 |
| Torrance County | 693 | 270 | 44.6 | 44.3% | 0.9 | 5 |
| Colfax County | 475 | 235 | 43.8 | 30.9% | 0.6 | 2 |
| Roosevelt County | 391 | 229 | 30.8 | 23.2% | 0.5 | 3 |
| Luna County | 513 | 226 | 24.5 | 35.0% | 0.4 | 3 |
| San Miguel County | 580 | 224 | 18.8 | 39.9% | 0.6 | 5 |
| McKinley County | 791 | 221 | 10.3 | 58.0% | 0.9 | 6 |
| Sierra County | 388 | 175 | 32.2 | 29.5% | 0.7 | 4 |
| Cibola County | 389 | 157 | 18.5 | 44.9% | 0.8 | 4 |
| Socorro County | 328 | 146 | 27.7 | 37.7% | 0.5 | 2 |
| Quay County | 162 | 56 | 12.8 | 47.6% | 0.8 | 0 |
| Catron County | 111 | 38 | 21.2 | 34.3% | 0.6 | 0 |
| Union County | 79 | 35 | 24.3 | 34.4% | 0.7 | 0 |
| Guadalupe County | 85 | 34 | 22.8 | 47.9% | 0.7 | 0 |
| Mora County | 80 | 22 | 11.2 | 54.7% | — | 0 |
| Hidalgo County | 49 | 15 | 10.1 | 56.4% | — | 0 |
| De Baca County | 26 | 11 | 13.4 | — | — | 0 |
| Harding County | 5 | 1 | 3.5 | — | — | 0 |
By originations. Lenders: those with at least 25 applications in the county.
VA-guaranteed loans by month
VA publishes lender volume nationally, not by state; see the Aug 2026 VA lender table and the monthly series. The VA-guaranteed share of New Mexico originations by year is charted above from HMDA.
Questions and answers
Which mortgage lenders are most active in New Mexico?
By 2024 originations: Rocket Mortgage (2,492), Waterstone Mortgage Corporation (2,253), Guild Mortgage Company (2,245), Nusenda Federal Credit Union (1,923), United Wholesale Mortgage (1,922). 187 lenders had at least 25 applications in the state.
What is the mortgage denial rate in New Mexico?
25.7% of decided applications were denied in 2024, against 24.3% nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
How has mortgage lending in New Mexico changed since 2018?
Originations went from 38,594 in 2018 to 36,602 in 2024; the denial rate moved from 27.9% to 25.7%.
Where does this data come from?
From the public HMDA loan/application register (FFIEC and CFPB) for 2024, the HMDA Data Browser aggregations for 2018–2024, and Census Bureau household estimates.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 and Data Browser aggregations 2018–2024 (FFIEC and CFPB, public domain); households from the Census Bureau ACS 2024 five-year estimates. Built 30 Sep 2026; data through 1 Aug 2026.