Merchants & Marine Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
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%
40th12.1% deniedPricingmedian rate spread over APOR, weight 30%
60th0.20 ptsProcesswithdrawn + incomplete share, weight 15%
34th15.2%Closing coststotal loan costs ÷ loan amount, weight 10%
31st2.45% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 352 | 272 | 7.4% | 8.7% | 7.13% | $58M |
| 2024 | 347 | 239 | 8.9% | 11.2% | 6.88% | $57M |
| 2025 | 302 | 219 | 10.3% | 12.1% | 6.75% | $62M |
What Merchants & Marine 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, 9 manufactured homes, 89 investment properties.
Why Merchants & Marine Bank denies applications
Primary reason reported for each of the 31 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Merchants & Marine Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 33 | 21 | 27.6% |
| $50k – $100k | 108 | 77 | 13.3% |
| $100k – $150k | 60 | 44 | 7.8% |
| $150k – $250k | 32 | 23 | 11.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 74 | 56 | 9.7% |
| 35–44 | 54 | 34 | 14.3% |
| 45–54 | 52 | 35 | 22.9% |
| 55–64 | 35 | 23 | 17.2% |
| 65–74 | 22 | 16 | 11.1% |
Where Merchants & Marine Bank lends
6 states and 38 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Mississippi | 231 | 169 | 11.3% | 6.75% | #81 |
| Alabama | 52 | 38 | 5.8% | 7.25% | #308 |
| Louisiana | 14 | 9 | 0.0% | 7.13% | #344 |
Frequently asked questions
Merchants & Marine Bank denied 12.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 40th percentile of small mortgage lenders.
The most common reason Merchants & Marine Bank gave in 2025 was "debt-to-income ratio", cited on 45.2% 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 Merchants & Marine Bank originated in 2025 was 6.75%, and its median rate spread over the average prime offer rate was 0.20 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 69% of its applications were for home purchases, 30% for refinancing (including cash-out), and 1% for home improvement or other purposes. By loan type: 74% conventional, 14% FHA, 8% 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.