Bay at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
21st19.0% deniedPricingmedian rate spread over APOR, weight 30%
19th0.72 ptsProcesswithdrawn + incomplete share, weight 15%
13th23.1%Closing coststotal loan costs ÷ loan amount, weight 10%
96th0.40% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 750 | 453 | 21.5% | 26.1% | 7.63% | $121M |
| 2024 | 784 | 495 | 17.1% | 20.6% | 7.88% | $136M |
| 2025 | 891 | 553 | 14.6% | 19.0% | 7.50% | $159M |
What Bay lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 342 home-equity lines, 0 reverse mortgages, 79 manufactured homes, 29 investment properties.
Why Bay denies applications
Primary reason reported for each of the 130 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Bay
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 41 | 9 | 61.5% |
| $50k – $100k | 211 | 109 | 28.8% |
| $100k – $150k | 235 | 163 | 13.3% |
| $150k – $250k | 239 | 178 | 11.8% |
| Over $250k | 146 | 93 | 17.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 74 | 54 | 10.0% |
| 35–44 | 184 | 110 | 20.1% |
| 45–54 | 200 | 127 | 21.1% |
| 55–64 | 180 | 105 | 25.0% |
| 65–74 | 160 | 115 | 15.9% |
| Over 74 | 72 | 41 | 10.9% |
Where Bay lends
1 states and 30 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 891 | 553 | 14.6% | 7.50% | #188 |
Frequently asked questions
Bay denied 19.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 21st percentile of small mortgage lenders.
The most common reason Bay gave in 2025 was "debt-to-income ratio", cited on 42.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Bay originated in 2025 was 7.50%, and its median rate spread over the average prime offer rate was 0.72 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 21% of its applications were for home purchases, 78% for refinancing (including cash-out), and 1% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.