Mechanics Cooperative Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B 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%
53rd8.9% deniedProcesswithdrawn + incomplete share, weight 15%
66th8.2%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 142 | 113 | 8.5% | 9.1% | — | $94M |
| 2024 | 116 | 98 | 6.9% | 7.3% | — | $80M |
| 2025 | 110 | 85 | 8.2% | 8.9% | — | $99M |
What Mechanics Cooperative 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, 1 manufactured homes, 43 investment properties.
Who gets approved at Mechanics Cooperative Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $150k – $250k | 20 | 16 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 55–64 | 27 | 21 | 11.5% |
Where Mechanics Cooperative Bank lends
3 states and 13 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 98 | 77 | 7.1% | — | #251 |
| Rhode Island | 11 | 7 | 18.2% | — | #187 |
Frequently asked questions
Mechanics Cooperative Bank denied 8.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 53rd percentile of small mortgage lenders.
In 2025, 47% of its applications were for home purchases, 22% for refinancing (including cash-out), and 31% 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.