Pennymac Loan Services. It denied 18.5% of the applications it decided on in 2025, against 22.2% at Wells Fargo Bank. Product mix explains part of any gap: HELOC and FHA-heavy lenders naturally deny more. Wells Fargo Bank, with a median rate of 6.25% 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 | Pennymac Loan Services | Wells Fargo Bank | All lenders |
|---|---|---|---|
| Grade | C | B | |
| Grade score (0–100) | 47.0 | 54.4 | |
| Applications 2025 | 193,807 | 76,355 | 11,766,671 |
| Origination rate | 52.0% | 54.4% | 58.0% |
| Denial rate (all applications) | 12.3% | 15.6% | 18.0% |
| Decision denial rate | 18.5% | 22.2% | 22.6% |
| Withdrawn + incomplete | 33.7% | 29.8% | 2,405,729 |
| Median interest rate | 6.49% | 6.25% | 6.63% |
| Median rate spread (pts) | 0.24 | -0.03 | 0.25 |
| Median total loan costs | $6,423 | $5,438 | |
| Median loan amount | $275,000 | $315,000 | $225,000 |
| Loan volume | $35B | $48B | |
| States active | 51 | 52 | |
| FHA share | 28% | 5% | 14% |
| VA share | 17% | 2% | 8% |
| Refinance share | 56% | 34% | 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 22.2% at Wells Fargo Bank. Product mix explains part of any gap: HELOC and FHA-heavy lenders naturally deny more.
Wells Fargo Bank, with a median rate of 6.25% 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.
