Mortgage lender · Middletown, NJ · LEI 549300YM15OICCNPH537

Greenway Mortgage Funding review: approval odds, rates and grade (2025)

Greenway Mortgage Funding earns a C, in line with the typical performance of small mortgage lenders. It turned down 10.9% of the applications it decided on in 2025, which ranks in the 45th percentile for approval odds. Its median loan was priced 0.28 points above the average prime offer rate, ranking in the 48th percentile on pricing. Compared against 1,883 small mortgage lenders using 2025 HMDA filings.

379Applications2025
70.2%Originatedof applications
10.9%Decision denial ratenational 22.6%
6.63%Median ratenational 6.63%
$140MLoan volume18 states

Greenway Mortgage Funding at a glance, 2025

Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.

9.2%Denial rate (all applications)-8.75 pts vs national
10.9%Denial rate (decided applications)-11.69 pts vs national
70.2%Origination rate+12.15 pts vs national
13.2%Withdrawn by applicant
2.1%Closed for incompleteness
6.63%Median interest rate0.00 pts vs national
0.28Median rate spread (pts over APOR)+0.03 pts vs national
$455,000Median loan amount
$7,044Median total loan costs
$186kMedian applicant income
80%Median loan-to-value
0High-cost (HOEPA) loans

How the C 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%

45th10.9% denied

Pricingmedian rate spread over APOR, weight 30%

48th0.28 pts

Processwithdrawn + incomplete share, weight 15%

34th15.3%

Closing coststotal loan costs ÷ loan amount, weight 10%

64th1.55% of loan

Trend, 2023–2025

YearApplicationsOriginatedDenial rateDecision denialMedian rateVolume
20233292437.3%8.1%6.88%$113M
20243742626.7%7.9%6.63%$133M
20253792669.2%10.9%6.63%$140M

What Greenway Mortgage Funding 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

Home purchase 277 73% · 7.2% denied
Refinance 55 15% · 7.3% denied
Cash-out refinance 47 12% · 23.4% denied

By loan type

Conventional 309 82% · 7.1% denied
FHA 61 16% · 19.7% denied
VA 8 2% · 0.0% denied
USDA / RHS 1 0% · 100.0% denied

Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 25 investment properties.

Why Greenway Mortgage Funding denies applications

Primary reason reported for each of the 35 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.

Collateral 13 37%
Debt-to-income ratio 10 29%
Other 8 23%
Employment history 2 6%
Insufficient cash 1 3%
Unverifiable information 1 3%

How these reasons compare nationally →

Who gets approved at Greenway Mortgage Funding

Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.

Applicant incomeApplicationsOriginatedDecision denial rate
$50k – $100k48379.1%
$100k – $150k775615.9%
$150k – $250k98724.9%
Over $250k1218110.9%
Applicant ageApplicationsOriginatedDecision denial rate
25–34103759.2%
35–44114857.1%
45–54855814.1%
55–64423012.8%
65–7420126.7%

Where Greenway Mortgage Funding lends

18 states and 85 counties in 2025. Click a state for the lender's full record there.

StateApplicationsOriginatedDenial rateMedian rateRank in state
New Jersey2331719.4%6.63%#186
New York69454.4%6.50%#304
Pennsylvania13120.0%6.44%#653
Florida12716.7%6.63%#881
Georgia11427.3%5.93%#661
Connecticut980.0%6.38%#378
Ohio5160.0%5.99%#719

Frequently asked questions

Greenway Mortgage Funding denied 10.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 45th percentile of small mortgage lenders.

The most common reason Greenway Mortgage Funding gave in 2025 was "collateral", cited on 37.1% 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 Greenway Mortgage Funding originated in 2025 was 6.63%, and its median rate spread over the average prime offer rate was 0.28 points. Rates on this page are what borrowers actually got, not advertised rates.

In 2025, 73% of its applications were for home purchases, 27% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 82% conventional, 16% FHA, 2% 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.

About this data. HMDA data is published once a year by the CFPB. The current release covers applications acted on in calendar year 2025. Figures describe applications the lender acted on, including loans it later sold. Interest rates and costs are medians on originated loans only; some depository institutions are exempt from reporting pricing fields, which is why a few cells read "—". MortgageGrades is not affiliated with Greenway Mortgage Funding. Data sources · Methodology