Cathay Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
54th9.0% deniedPricingmedian rate spread over APOR, weight 30%
90th-0.15 ptsProcesswithdrawn + incomplete share, weight 15%
59th15.0%Closing coststotal loan costs ÷ loan amount, weight 10%
90th1.07% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 3,064 | 2,222 | 8.3% | 10.0% | 6.45% | $1.9B |
| 2024 | 1,656 | 1,228 | 7.7% | 8.9% | 7.13% | $1.1B |
| 2025 | 2,232 | 1,641 | 7.6% | 9.0% | 6.38% | $1.4B |
What Cathay Bank 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: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 760 investment properties.
Why Cathay Bank denies applications
Primary reason reported for each of the 170 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Cathay Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 55 | 32 | 15.8% |
| $100k – $150k | 75 | 61 | 7.3% |
| $150k – $250k | 67 | 44 | 11.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 57 | 39 | 11.8% |
| 25–34 | 339 | 246 | 9.8% |
| 35–44 | 617 | 450 | 8.9% |
| 45–54 | 593 | 428 | 10.2% |
| 55–64 | 294 | 186 | 14.0% |
| 65–74 | 83 | 50 | 8.3% |
Where Cathay Bank lends
10 states and 90 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New York | 982 | 757 | 6.2% | 6.38% | #93 |
| California | 888 | 616 | 8.2% | 6.25% | #189 |
| Washington | 122 | 87 | 11.5% | 6.38% | #223 |
| New Jersey | 62 | 50 | 6.5% | 6.38% | #329 |
| Nevada | 41 | 32 | 12.2% | 6.25% | #225 |
| Texas | 41 | 26 | 14.6% | 6.25% | #732 |
| Massachusetts | 40 | 31 | 10.0% | 6.38% | #351 |
| Illinois | 33 | 29 | 0.0% | 6.50% | #521 |
| Maryland | 22 | 13 | 9.1% | 6.25% | #399 |
Frequently asked questions
Cathay Bank denied 9.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 54th percentile of mid-size mortgage lenders.
The most common reason Cathay Bank gave in 2025 was "credit history", cited on 41.2% 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 Cathay Bank originated in 2025 was 6.38%, and its median rate spread over the average prime offer rate was -0.15 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 71% of its applications were for home purchases, 25% for refinancing (including cash-out), and 3% 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.