Newrez at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 101 large mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
21st35.0% deniedPricingmedian rate spread over APOR, weight 30%
40th0.36 ptsProcesswithdrawn + incomplete share, weight 15%
5th44.3%Closing coststotal loan costs ÷ loan amount, weight 10%
60th2.40% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 92,021 | 32,499 | 20.6% | 36.5% | 6.75% | $9.5B |
| 2024 | 140,579 | 52,121 | 20.4% | 35.1% | 6.75% | $16B |
| 2025 | 187,595 | 66,567 | 19.5% | 35.0% | 6.63% | $22B |
What Newrez 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, 5,595 manufactured homes, 12,383 investment properties.
Why Newrez denies applications
Primary reason reported for each of the 36,587 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Newrez
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 21,278 | 3,505 | 72.8% |
| $50k – $100k | 53,966 | 17,458 | 43.3% |
| $100k – $150k | 37,233 | 14,446 | 29.2% |
| $150k – $250k | 30,657 | 12,417 | 22.4% |
| Over $250k | 15,399 | 6,302 | 19.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 3,293 | 1,879 | 16.9% |
| 25–34 | 27,155 | 12,357 | 21.1% |
| 35–44 | 40,917 | 15,819 | 30.2% |
| 45–54 | 41,166 | 14,363 | 36.7% |
| 55–64 | 37,829 | 11,837 | 40.9% |
| 65–74 | 24,778 | 6,656 | 47.4% |
| Over 74 | 11,150 | 2,676 | 50.5% |
Where Newrez lends
52 states and 2,829 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Florida | 17,519 | 5,643 | 22.4% | 6.75% | #7 |
| California | 17,000 | 5,772 | 19.3% | 6.63% | #9 |
| Texas | 15,001 | 4,793 | 21.7% | 6.50% | #11 |
| New York | 8,654 | 3,123 | 24.2% | 6.75% | #9 |
| Georgia | 7,880 | 2,480 | 21.5% | 6.63% | #11 |
| North Carolina | 7,099 | 2,787 | 16.6% | 6.25% | #17 |
| New Jersey | 6,535 | 1,951 | 22.5% | 6.99% | #9 |
| Pennsylvania | 6,444 | 2,124 | 20.7% | 6.75% | #11 |
| Virginia | 6,390 | 2,175 | 16.4% | 6.38% | #9 |
| Illinois | 6,033 | 1,857 | 21.9% | 6.75% | #15 |
| Washington | 5,849 | 2,702 | 12.9% | 6.63% | #10 |
| Ohio | 5,795 | 2,258 | 19.0% | 6.75% | #15 |
| Maryland | 5,739 | 1,711 | 21.0% | 6.63% | #6 |
| Indiana | 5,421 | 2,080 | 18.2% | 6.63% | #6 |
| Michigan | 4,958 | 1,723 | 18.5% | 6.75% | #11 |
| Arizona | 4,922 | 1,845 | 16.9% | 6.38% | #11 |
| Colorado | 3,831 | 1,561 | 16.0% | 6.50% | #12 |
| Tennessee | 3,780 | 1,361 | 16.8% | 6.25% | #17 |
| South Carolina | 3,749 | 1,334 | 18.9% | 6.50% | #18 |
| Massachusetts | 3,690 | 1,151 | 21.8% | 6.75% | #11 |
| Missouri | 3,424 | 1,311 | 18.2% | 6.63% | #16 |
| Oregon | 2,945 | 1,321 | 12.9% | 6.63% | #7 |
| Wisconsin | 2,776 | 1,295 | 16.3% | 6.50% | #19 |
| Alabama | 2,730 | 938 | 19.0% | 6.49% | #16 |
| Louisiana | 2,664 | 1,007 | 21.1% | 6.50% | #9 |
| Connecticut | 2,556 | 874 | 21.8% | 6.88% | #9 |
| Minnesota | 2,419 | 1,057 | 16.9% | 6.63% | #16 |
| Utah | 1,801 | 687 | 17.3% | 6.63% | #15 |
| Nevada | 1,716 | 593 | 21.0% | 6.63% | #18 |
| Kentucky | 1,621 | 579 | 20.1% | 6.63% | #27 |
| Oklahoma | 1,591 | 588 | 18.1% | 6.63% | #20 |
| Alaska | 1,344 | 973 | 4.3% | 6.38% | #3 |
| Arkansas | 1,306 | 420 | 19.1% | 6.31% | #23 |
| Delaware | 1,127 | 344 | 18.4% | 6.50% | #9 |
| Mississippi | 1,088 | 329 | 27.7% | 6.25% | #24 |
| Kansas | 1,069 | 392 | 16.9% | 6.63% | #19 |
| Iowa | 939 | 343 | 20.2% | 6.25% | #23 |
| New Mexico | 935 | 292 | 20.1% | 6.75% | #19 |
| Hawaii | 891 | 392 | 16.5% | 6.25% | #11 |
| Maine | 857 | 271 | 18.7% | 6.63% | #16 |
| New Hampshire | 836 | 301 | 17.1% | 6.75% | #17 |
| Idaho | 795 | 325 | 15.9% | 6.63% | #23 |
| Nebraska | 657 | 254 | 16.4% | 6.50% | #20 |
| Rhode Island | 638 | 250 | 19.4% | 6.63% | #14 |
| West Virginia | 538 | 210 | 18.8% | 6.38% | #23 |
| Montana | 481 | 197 | 15.0% | 6.50% | #16 |
| District of Columbia | 353 | 105 | 23.5% | 6.63% | #10 |
| South Dakota | 347 | 148 | 19.3% | 6.25% | #19 |
| Wyoming | 317 | 147 | 13.6% | 6.13% | #19 |
| Vermont | 273 | 84 | 20.9% | 6.69% | #18 |
| North Dakota | 271 | 109 | 15.5% | 6.49% | #16 |
Frequently asked questions
Newrez denied 35.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 21st percentile of large mortgage lenders.
The most common reason Newrez gave in 2025 was "debt-to-income ratio", cited on 64.0% 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 Newrez originated in 2025 was 6.63%, and its median rate spread over the average prime offer rate was 0.36 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 20% of its applications were for home purchases, 80% for refinancing (including cash-out), and 0% for home improvement or other purposes. By loan type: 63% conventional, 21% FHA, 15% 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.