Plymouth Meeting, PA · Independent non-bank lender · CFPB · 66,567 loans in 2025
66,567
loans originated, 2025
187,595
applications, 2025
51
states and territories
2
gaps bigger than at similar lenders
How to read this section
For Black, Hispanic and Asian applicants, we look at how much more often Newrez turns them down than White
applicants: the gap. Then we compare that gap with the gap at similar lenders, for similar applications: the same
income, loan size, debt-to-income range, loan-to-value, loan type, kind of property and place.
"Bigger gap" means we are at least 99% sure the gap is bigger than at similar lenders. That is a reason to look
closer, not proof of discrimination. The public data has no credit scores and none of the documents a lender
reviews, and the kind of loans a lender makes can widen a gap for good reasons. Each result below gives the numbers
and the explanations they allow.
FIG. 1 — GAPS AGAINST SIMILAR LENDERS
Newrez's gap is bigger than at similar lenders for Hispanic refinance and Black refinance applicants.
Each dot compares Newrez's gap with the gap at similar lenders: at 1x they are the same, at 2x its gap is twice as large. A gap is how much more likely the group is to be turned down than White applicants. The line around each dot shows the range the true value probably lies in (95%). Amber: groups where we are at least 99% sure the gap is bigger.
SOURCE: FFIEC HMDA 2025; JENNER ANALYTICS NATIONAL DENIAL MODEL
Hispanic refinance
Newrez's gap for Hispanic refinance applicants is bigger than at similar lenders.
How sure we are that the gap is bigger than at similar lenders: over 99.9%.
Of the refinance applications it decided in 2025, it turned down 61% of 6,625 from Hispanic applicants and 41% of 25,496 from White applicants. The most common reason: too much debt for the income, given for 73% of the Hispanic applicants turned down and 65% of the White applicants turned down.
Newrez collects payments on a large number of mortgages and refinances many of those borrowers: 60% of its 2025 loans were refinances, and more than half of its refinance applicants wanted to take cash out. It turns down many refinance applicants of every group: 41% of White applicants.
Too much debt for the income was the main reason for every group. Our comparison sorts applicants into debt-to-income ranges, such as 36% to 49%. Within a range, Hispanic and White applicants can still differ in other debts, credit history and how much cash they want to take out, and the public data has no credit scores.
Black refinance
Newrez's gap for Black refinance applicants is bigger than at similar lenders.
How sure we are that the gap is bigger than at similar lenders: over 99.9%.
Of the refinance applications it decided in 2025, it turned down 62% of 8,811 from Black applicants and 41% of 25,496 from White applicants. The most common reason: too much debt for the income, given for 70% of the Black applicants turned down and 65% of the White applicants turned down.
As with Hispanic applicants, too much debt for the income was the main reason. Taking cash out adds to a borrower's debt, and our comparison sorts applicants only into debt-to-income ranges, so differences within a range would show up as a gap.
FIG. 2 — REASONS FOR TURNING APPLICANTS DOWN, 2025
Why applications were turned down, beside White applicants at the same lender.
Each bar is 100% of the applications the lender decided for that group; the coloured part was turned down, split by the main reason the lender gave, and the rest were approved. Applications the applicant withdrew are not counted.
SOURCE: FFIEC HMDA 2025, FIRST REASON GIVEN
Applicants
Turned down: group
Turned down: White
How sure the gap is bigger
Result
Hispanic purchase
14%
8%
48.5%
Not clearly bigger
Hispanic refinance
61%
41%
over 99.9%
Bigger gap than at similar lenders
Black purchase
19%
8%
5.5%
Not clearly bigger
Black refinance
62%
41%
over 99.9%
Bigger gap than at similar lenders
Asian purchase
13%
8%
58.0%
Not clearly bigger
Asian refinance
51%
41%
96.2%
Not clearly bigger
"How sure the gap is bigger": how sure we are that the lender's gap is bigger than at similar lenders. We call it bigger at 99% or more.