Operating Engineers Local Union #3 at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the F 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%
10th27.5% deniedPricingmedian rate spread over APOR, weight 30%
3rd1.83 ptsProcesswithdrawn + incomplete share, weight 15%
0th50.4%Closing coststotal loan costs ÷ loan amount, weight 10%
80th1.14% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 556 | 120 | 27.5% | 52.4% | 6.38% | $24M |
| 2024 | 376 | 113 | 20.0% | 39.7% | 9.00% | $18M |
| 2025 | 417 | 149 | 13.7% | 27.5% | 8.00% | $25M |
What Operating Engineers Local Union #3 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: 14 home-equity lines, 0 reverse mortgages, 10 manufactured homes, 4 investment properties.
Why Operating Engineers Local Union #3 denies applications
Primary reason reported for each of the 57 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Operating Engineers Local Union #3
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 117 | 40 | 32.8% |
| $100k – $150k | 119 | 40 | 28.6% |
| $150k – $250k | 103 | 50 | 21.9% |
| Over $250k | 28 | 16 | 5.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 61 | 10 | 33.3% |
| 35–44 | 111 | 37 | 34.5% |
| 45–54 | 108 | 44 | 25.4% |
| 55–64 | 63 | 34 | 17.1% |
| 65–74 | 41 | 14 | 36.4% |
| Over 74 | 20 | 10 | 16.7% |
Where Operating Engineers Local Union #3 lends
18 states and 88 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 206 | 102 | 15.5% | 8.00% | #360 |
| Nevada | 38 | 16 | 23.7% | 7.63% | #230 |
| Washington | 8 | 5 | 25.0% | 7.88% | #482 |
| Arizona | 7 | 2 | 14.3% | 7.63% | #569 |
| Texas | 5 | 3 | 0.0% | 5.63% | #1,095 |
| Utah | 5 | 2 | 0.0% | 6.38% | #336 |
Frequently asked questions
Operating Engineers Local Union #3 denied 27.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 10th percentile of small mortgage lenders.
The most common reason Operating Engineers Local Union #3 gave in 2025 was "debt-to-income ratio", cited on 52.6% 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 Operating Engineers Local Union #3 originated in 2025 was 8.00%, and its median rate spread over the average prime offer rate was 1.83 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 37% of its applications were for home purchases, 18% for refinancing (including cash-out), and 45% 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.