Rhode Island mortgage lenders: applications, originations, denial rate and counties, 2024

States › Rhode Island

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.

Rhode Island had 38,836 HMDA-reported mortgage applications and 22,713 originations ($7.2bn) in 2024, from 114 lenders with at least 25 applications in the state.

The statewide denial rate was 25.7% (national 24.3%) and the median rate spread 0.3 percentage points (national 0.3). Originations ran at 51.4 per 1,000 households, against 48.0 nationally.

Originations in the state went from 29,879 in 2018 to 22,713 in 2024; the denial rate moved from 24.9% to 25.7%.

The most active lenders by originations were CBNA Year to Date (2,702), Navigant Credit Union (1,907) and Coastal1 Credit Union (1,190).

38,836applications, 2024

22,713loans originated$7.2bn

25.7%denial rateUS 24.3%

51.4originations per 1,000 householdsUS 48.0

Most active lenders in Rhode Island

#	Lender	Applications	Originations	Amount	Denial rate	Median spread
1	CBNA Year to Date	4,904	2,702	$529m	36.2%	0.6
2	Navigant Credit Union	3,060	1,907	$411m	23.4%	-0.3
3	Coastal1 Credit Union	1,764	1,190	$202m	26.8%	-1.6
4	Movement Mortgage, LLC	1,297	988	$375m	3.5%	0.4
5	The Washington Trust Company, of Westerly	1,517	927	$247m	23.6%	-0.2
6	Rocket Mortgage	1,134	862	$222m	17.5%	0.5
7	BankNewport	887	623	$203m	16.8%	-0.2
8	Primary Residential Mortgage, INC.	946	599	$176m	11.7%	0.5
9	NFM, Inc	677	570	$234m	2.0%	0.6
10	CMG Mortgage Inc	811	525	$177m	7.9%	0.5
11	Guild Mortgage Company	660	513	$169m	5.0%	0.4
12	United Wholesale Mortgage	616	456	$175m	14.6%	0.2
13	Centreville Bank	557	397	$129m	16.3%	0.2
14	Bank of America NA	1,334	389	$117m	59.9%	1.1
15	Baycoast Mortgage Company, LLC	461	376	$175m	1.8%	-0.0
16	Westerly Community Credit Union	517	321	$62m	23.0%	-0.8
17	Bank Rhode Island	494	301	$106m	28.7%	0.0
18	Navy Federal Credit Union	531	290	$78m	25.3%	0.6
19	Greenwood Credit Union	521	289	$46m	29.1%	0.6
20	Rhode Island Credit Union	567	284	$23m	35.8%	—
21	Loandepot.com, LLC	503	262	$81m	30.9%	0.6
22	Semper Home Loans, Inc	323	259	$104m	6.5%	0.6
23	Total Mortgage Services, LLC	356	221	$71m	9.4%	0.5
24	Crosscountry Mortgage, LLC	314	220	$93m	7.1%	0.4
25	Province Mortgage Associates, Inc.	273	220	$83m	8.5%	0.5
26	Shoreham Bank	302	205	$62m	15.6%	0.5
27	Northpointe Bank	290	189	$73m	8.3%	0.3
28	Newrez LLC	468	181	$52m	37.0%	0.6
29	Pennymac Loan Services LLC	381	176	$59m	22.2%	0.4
30	Guaranteed Rate, Inc.	274	173	$71m	10.6%	0.3
31	TD Bank	384	164	$43m	47.0%	0.5
32	Mortgage Equity Partners LLC	239	162	$69m	13.7%	0.4
33	Fall River Five Cents Savings	197	150	$47m	13.6%	-0.1
34	Paramount Residential Mortgage	207	146	$48m	1.3%	0.4
35	Nationstar Mortgage	212	142	$26m	18.1%	3.1
36	New American Funding, LLC.	392	140	$48m	35.0%	0.5
37	Discover Bank	979	138	$12m	79.0%	2.3
38	Us Bank, N.A.	232	133	$61m	32.3%	0.1
39	The People's Credit Union	245	129	$32m	22.5%	0.4
40	Freedom Mortgage Corporation	339	124	$44m	20.5%	0.5
41	Mortgage Research Center	284	120	$51m	32.4%	-0.2
42	Harborone Mortgage, LLC	165	117	$48m	10.7%	0.3
43	Baycoast Bank	160	117	$33m	17.0%	0.5
44	Fairway Independent Mort Corp	155	115	$48m	12.9%	0.3
45	Leader Bank NA	143	113	$45m	8.7%	-0.1
46	JPMorgan Chase Bank, NA	170	111	$50m	11.0%	0.0
47	HarborOne Bank	230	97	$22m	49.5%	-1.1
48	Webster Bank, N.A.	173	96	$34m	23.3%	0.8
49	Amerisave Mortgage Company	556	95	$13m	79.8%	3.8
50	Spring Eq, LLC	308	95	$7.8m	63.7%	4.3
51	Embrace Home Loans, Inc.	150	95	$43m	21.3%	0.3
52	RF Renovo Management Company, LLC	126	90	$70m	1.1%	—
53	American Neighborhood Mortgage Acceptance Company	114	88	$32m	3.3%	0.4
54	Berkshire Bank	119	81	$66m	19.0%	-1.9
55	Bristol County Savings Bank	92	73	$71m	17.0%	0.3
56	Homespire Mortgage Corporation	112	68	$22m	12.0%	0.1
57	Bankesb	90	68	$28m	10.4%	-0.0
58	Waterstone Mortgage Corporation	118	64	$27m	12.3%	0.3
59	Ocean State Credit Union	90	64	$14m	9.9%	0.3
60	Guaranteed Rate Affinity, LLC	102	63	$24m	9.9%	0.4

Top 60 of 114 lenders with at least 25 applications in the state, by originations. 62 lenders have 100 or more applications here and link to a state-specific page.

Compared with the nation

Measure	Rhode Island	United States
Denial rate	25.7%	24.3%
Median rate spread, pp	0.3	0.3
Originations with spread of 1.5 pp or more	13.1%	15.6%
Average originated loan	$317k	$329k
Originations per 1,000 households	51.4	48.0
Home purchase share of originations	45.1%	57.0%
FHA-insured share	12.2%	13.4%
VA-guaranteed share	3.8%	7.9%

Trend, 2018–2024

ApplicationsOriginations

Applications and originations in Rhode Island by year

Rhode IslandUnited States

Denial rate by year, US dashed

FHA share of originationsVA share

FHA-insured and VA-guaranteed shares of originations in Rhode Island by year

Year	Applications	Originations	Amount	Denial rate	FHA	VA	Refinance share
2018	48,259	29,879	$6.6bn	24.9%	13.8%	3.7%	34.5%
2019	55,716	35,160	$8.6bn	22.2%	14.7%	4.8%	44.5%
2020	78,357	51,974	$14bn	15.8%	11.9%	5.4%	62.8%
2021	83,855	55,841	$16bn	16.4%	11.6%	4.7%	60.2%
2022	52,233	32,214	$9.9bn	22.5%	11.5%	3.4%	34.9%
2023	35,860	20,714	$6.0bn	27.5%	12.6%	2.9%	24.9%
2024	38,836	22,713	$7.2bn	25.7%	12.2%	3.8%	28.0%

Yearly figures from the HMDA Data Browser aggregations for the state (all reporters).

Loan purpose and loan type, 2024

By purpose

Home purchase 45% (10,237)Home improvement 15% (3,398)Refinancing 15% (3,391)Cash-out refinancing 13% (2,965)Other purpose 12% (2,718)

By type

Conventional 84% (18,987)FHA 12% (2,780)VA 4% (854)USDA 0% (92)

Counties

County	Applications	Originations	Per 1,000 households	Denial rate	Median spread	Lenders
Providence County	22,261	12,442	48.0	28.6%	0.3	87
Kent County	7,319	4,480	61.5	23.2%	0.3	55
Washington County	4,708	2,958	56.3	20.5%	0.2	44
Newport County	2,743	1,682	45.6	21.8%	0.2	29
Bristol County	1,725	1,117	55.6	19.0%	0.1	16

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 Rhode Island originations by year is charted above from HMDA.

Questions and answers

Which mortgage lenders are most active in Rhode Island?

By 2024 originations: CBNA Year to Date (2,702), Navigant Credit Union (1,907), Coastal1 Credit Union (1,190), Movement Mortgage, LLC (988), The Washington Trust Company, of Westerly (927). 114 lenders had at least 25 applications in the state.

What is the mortgage denial rate in Rhode Island?

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 Rhode Island changed since 2018?

Originations went from 29,879 in 2018 to 22,713 in 2024; the denial rate moved from 24.9% 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.