Waterman State Bank in Michigan vs the state
14.3%Denial rate-4.23 pts vs state
18.2%Decision denial rate-4.40 pts vs state
64.3%Origination rate+4.40 pts vs state
—Median rate
—Rate spread (pts)
$206kMedian applicant income
9Loans originated
2Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 6 | 6 | 0.0% | — | #565 |
| 2024 | 5 | 4 | 0.0% | — | #592 |
| 2025 | 14 | 9 | 14.3% | — | #481 |
What Waterman State Bank lends in Michigan
By loan purpose
By loan type
Where in Michigan
Counties with the most Waterman State Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Oakland County | 6 | 4 | 0 | 0.0% |
| Berrien County | 3 | 1 | 1 | 33.3% |
| Cass County | 2 | 2 | 0 | 0.0% |
| Macomb County | 1 | 0 | 1 | 100.0% |
| Oceana County | 1 | 1 | 0 | 0.0% |
| Van Buren County | 1 | 1 | 0 | 0.0% |
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: 14 applications in 2025, of which 9 were originated and 2 denied.
14.3% of all applications, or 18.2% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
This lender did not report interest rates on its originated loans (some institutions are exempt from HMDA pricing fields).
About this data. Figures are Waterman State Bank'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