New Wave Lending Group 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 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%
99th0.4% deniedPricingmedian rate spread over APOR, weight 30%
12th0.63 ptsProcesswithdrawn + incomplete share, weight 15%
9th30.6%Closing coststotal loan costs ÷ loan amount, weight 10%
70th1.85% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 2,495 | 1,637 | 0.4% | 0.7% | 7.63% | $917M |
| 2024 | 5,011 | 3,479 | 0.3% | 0.4% | 7.25% | $1.9B |
| 2025 | 6,188 | 4,177 | 0.2% | 0.4% | 7.00% | $2.4B |
What New Wave Lending Group 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, 8 manufactured homes, 1,472 investment properties.
Why New Wave Lending Group denies applications
Primary reason reported for each of the 15 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at New Wave Lending Group
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 72 | 18 | 0.0% |
| $50k – $100k | 725 | 534 | 0.4% |
| $100k – $150k | 1,148 | 805 | 0.1% |
| $150k – $250k | 1,650 | 1,126 | 0.4% |
| Over $250k | 1,833 | 1,247 | 0.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 111 | 81 | 0.0% |
| 25–34 | 1,133 | 819 | 0.4% |
| 35–44 | 1,890 | 1,300 | 0.4% |
| 45–54 | 1,709 | 1,141 | 0.3% |
| 55–64 | 941 | 598 | 0.3% |
| 65–74 | 279 | 184 | 0.0% |
| Over 74 | 93 | 52 | 1.9% |
Where New Wave Lending Group lends
41 states and 348 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 3,895 | 2,573 | 0.3% | 6.88% | #54 |
| Texas | 434 | 301 | 0.0% | 7.00% | #287 |
| Florida | 259 | 177 | 0.0% | 7.13% | #332 |
| Georgia | 258 | 195 | 0.8% | 7.00% | #212 |
| Illinois | 211 | 159 | 0.0% | 6.75% | #241 |
| Nevada | 209 | 152 | 0.0% | 6.88% | #104 |
| Virginia | 124 | 74 | 0.8% | 7.00% | #263 |
| Maryland | 104 | 74 | 0.0% | 7.13% | #225 |
| New Jersey | 97 | 71 | 0.0% | 7.13% | #270 |
| Arizona | 63 | 32 | 0.0% | 6.94% | #287 |
| North Carolina | 61 | 51 | 0.0% | 7.25% | #377 |
| Pennsylvania | 60 | 46 | 0.0% | 7.06% | #459 |
| South Carolina | 42 | 33 | 0.0% | 7.13% | #364 |
| Tennessee | 42 | 29 | 0.0% | 7.13% | #436 |
| Washington | 42 | 23 | 2.4% | 7.00% | #307 |
| Oregon | 38 | 29 | 2.6% | 6.63% | #251 |
| New York | 36 | 22 | 0.0% | 7.31% | #365 |
| Colorado | 27 | 19 | 0.0% | 6.88% | #380 |
| Ohio | 24 | 16 | 0.0% | 7.00% | #503 |
| Michigan | 23 | 18 | 0.0% | 6.88% | #420 |
| Hawaii | 19 | 10 | 0.0% | 7.00% | #134 |
| Indiana | 17 | 11 | 0.0% | 7.00% | #480 |
| Connecticut | 11 | 8 | 0.0% | 6.88% | #359 |
| Alabama | 10 | 7 | 0.0% | 7.13% | #471 |
| Massachusetts | 10 | 7 | 0.0% | 7.25% | #464 |
| Louisiana | 9 | 7 | 0.0% | 6.75% | #384 |
| Minnesota | 8 | 4 | 0.0% | 6.88% | #483 |
| Oklahoma | 8 | 6 | 0.0% | 6.75% | #429 |
| Kentucky | 6 | 2 | 0.0% | 7.13% | #471 |
Frequently asked questions
New Wave Lending Group denied 0.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 99th percentile of mid-size mortgage lenders.
The most common reason New Wave Lending Group gave in 2025 was "collateral", cited on 46.7% 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 New Wave Lending Group originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 0.63 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 62% of its applications were for home purchases, 38% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 99% conventional, 1% 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.