Pennymac Loan Services in Michigan vs the state
11.2%Denial rate-7.33 pts vs state
17.2%Decision denial rate-5.40 pts vs state
51.8%Origination rate-8.12 pts vs state
6.13%Median rate-0.63 pts vs state
0.20Rate spread (pts)-0.20 pts vs state
$91kMedian applicant income
1,393Loans originated
301Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,314 | 645 | 15.0% | 6.50% | #54 |
| 2024 | 1,755 | 793 | 12.4% | 6.13% | #46 |
| 2025 | 2,691 | 1,393 | 11.2% | 6.13% | #36 |
What Pennymac Loan Services lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Pennymac Loan Services applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Wayne County | 395 | 202 | 52 | 13.2% |
| Oakland County | 280 | 149 | 31 | 11.1% |
| Macomb County | 227 | 120 | 33 | 14.5% |
| Kent County | 179 | 108 | 11 | 6.1% |
| Genesee County | 151 | 85 | 15 | 9.9% |
| Ottawa County | 80 | 39 | 10 | 12.5% |
| Muskegon County | 76 | 36 | 5 | 6.6% |
| Ingham County | 73 | 39 | 6 | 8.2% |
| Washtenaw County | 68 | 35 | 8 | 11.8% |
| Jackson County | 59 | 35 | 4 | 6.8% |
Other large lenders in Michigan
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 30,644 | 16.3% | 6.75% |
| United Shore Financial Services | B | 29,330 | 11.7% | 6.60% |
| The Huntington National Bank | D | 20,047 | 30.0% | 7.49% |
| Lake Michigan Credit Union | A | 16,662 | 5.6% | 6.75% |
| Fifth Third Bank | D | 11,176 | 26.4% | 7.50% |
| 21st Mortgage | F | 7,424 | 53.4% | 11.04% |
| Citizens Bank | C | 6,592 | 29.0% | 7.65% |
| Triad Financial Services | D | 6,426 | 56.1% | 8.49% |
| Union Home Mortgage | B | 5,303 | 4.3% | 6.75% |
| PNC Bank | D | 5,161 | 26.3% | 7.36% |
Frequently asked questions
Michigan: 2,691 applications in 2025, of which 1,393 were originated and 301 denied.
11.2% of all applications, or 17.2% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Pennymac Loan Services originated in Michigan in 2025 was 6.13%, against a statewide median of 6.75%.
About this data. Figures are Pennymac Loan Services's own HMDA filing for properties located in Michigan, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology