Applications / Mortgage Analytics / Lenders / Illinois / BMO Bank
Chicago, IL · National bank · OCC · $252 billion assets · 16,529 loans in 2025
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16,529
loans originated, 2025
35,661
applications, 2025
50
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
BMO Bank's lending leans toward existing homeowners, with refinance and home-improvement loans making up more than half its loans.
Refinances made up 33.0% of its loans and home improvement 25.5%, against 23.7% for home purchase. Its typical loan was $165,000, against $220,000 at similar lenders (national banks making between half and twice as many loans), lower than nine in ten of them.
LMI (low- and moderate-income) borrowers took 33.1% of its loans, up from 27.0% and higher than about four in five similar lenders, whose figure was 22.1%. Its share in LMI areas, 12.8%, was lower than the peers' 15.7%, which may reflect where it lends.
Originations fell 9% to 16,529 while peers rose 4%, lower growth than nine in ten of them, after reaching 18,166 following the 2023 merger with Bank of the West. Its San Jose share fell from 5.4% to 2.1%; a merged bank trimming overlapping business could explain that.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. BMO Bank took 35,661 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 33.0% · Home improvement 25.5% · Purchase 23.7% · Other 17.8%
Conventional 98.5% · FHA 1.4% · VA 0.1% · of 16,529 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Illinois | 3,906 | 23.6% |
| California | 3,818 | 23.1% |
| Wisconsin | 2,970 | 18.0% |
| Indiana | 1,029 | 6.2% |
| Arizona | 962 | 5.8% |
| Colorado | 755 | 4.6% |
| Minnesota | 487 | 2.9% |
| Missouri | 324 | 2.0% |
| Nebraska | 297 | 1.8% |
| Florida | 285 | 1.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Chicago-Naperville-Schaumburg | 3,050 |
| Milwaukee-Waukesha | 1,101 |
| Los Angeles-Long Beach-Glendale | 839 |
| Phoenix-Mesa-Chandler | 681 |
| Indianapolis-Carmel-Greenwood | 663 |
| Oakland-Fremont-Berkeley | 605 |
| San Jose-Sunnyvale-Santa Clara | 507 |
| Denver-Aurora-Centennial | 458 |
| Elgin | 360 |
| Minneapolis-St. Paul-Bloomington | 346 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 3Y4U8VZURTYWI1W2K376 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 75633 | 2004–2023 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 873035 | 2004–2004 |
| Respondent ID (the HMDA filer code before 2018) | 114583 | 1990–2010 |
| Respondent ID (the HMDA filer code before 2018) | 975633 | 2011–2017 |
Established 17 May 1947. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: BMO Bank's data.
BMO Bank's data
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