Pennymac Loan Services. It denied 18.5% of the applications it decided on in 2025, against 44.7% at Bank of America. Product mix explains part of any gap: HELOC and FHA-heavy lenders naturally deny more. Bank of America, with a median rate of 6.00% on loans it originated in 2025 versus 6.49% at Pennymac Loan Services. Medians reflect the loans each lender actually made, so a lender writing more VA or 15-year loans will look cheaper.
| Metric | Bank of America | Pennymac Loan Services | All lenders |
|---|---|---|---|
| Grade | F | C | |
| Grade score (0–100) | 11.5 | 47.0 | |
| Applications 2025 | 217,492 | 193,807 | 11,766,671 |
| Origination rate | 40.7% | 52.0% | 58.0% |
| Denial rate (all applications) | 33.5% | 12.3% | 18.0% |
| Decision denial rate | 44.7% | 18.5% | 22.6% |
| Withdrawn + incomplete | 25.0% | 33.7% | 2,405,729 |
| Median interest rate | 6.00% | 6.49% | 6.63% |
| Median rate spread (pts) | 0.83 | 0.24 | 0.25 |
| Median total loan costs | $4,898 | $6,423 | |
| Median loan amount | $145,000 | $275,000 | $225,000 |
| Loan volume | $37B | $35B | |
| States active | 51 | 51 | |
| FHA share | 0% | 28% | 14% |
| VA share | 0% | 17% | 8% |
| Refinance share | 17% | 56% | 32% |
Green marks the better figure where "better" is unambiguous. Shares and sizes are context, not scores. Source: CFPB HMDA 2025.
Pennymac Loan Services. It denied 18.5% of the applications it decided on in 2025, against 44.7% at Bank of America. Product mix explains part of any gap: HELOC and FHA-heavy lenders naturally deny more.
Bank of America, with a median rate of 6.00% on loans it originated in 2025 versus 6.49% at Pennymac Loan Services. Medians reflect the loans each lender actually made, so a lender writing more VA or 15-year loans will look cheaper.
