Applications / Mortgage Analytics / Lenders / Pennsylvania / Spring EQ
Conshohocken, PA · Non-bank or government lender · CFPB · 32,174 loans in 2025
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32,174
loans originated, 2025
108,788
applications, 2025
46
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Spring EQ makes small conventional loans, mostly for home improvement and other purposes rather than purchases, and has grown from 6,121 loans five years before to 32,174 in 2025.
Similar lenders are non-bank or government lenders making between an eighth and eight times as many loans. Other purposes were 51.2% of its loans and home improvement 31.3%; purchases were only 1.2%. Its typical loan was $85,000 against $197,500, and all of its loans were conventional.
It made 32,174 loans, more than about nine in ten similar lenders, against 6,121 five years before. The path was not smooth: 23,209 in 2022, 6,340 in 2023 and 31,186 in 2024. In 2025 its originations rose 3%, against 29% at similar lenders and 10% for the whole market.
It bought 1,412 loans in 2025, having bought none the year before or five years before; most similar lenders bought none. This is new for it, and the data does not say from whom.
43.4% of its loans were higher-priced (a rate well above the average for similar loans) against 31.0%, down from 55.7% a year earlier, and its typical rate was 9.20% against 7.91%. Its home-improvement and other-purpose lending, priced differently from purchase loans, could account for most of this.
Questions the data can answer next
Similar lenders: same lender type, originations between an eighth and eight times the lender's. 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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Spring EQ took 108,788 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Other 51.2% · Home improvement 31.3% · Refinance 16.3% · Purchase 1.2%
Conventional 100.0% · of 32,174 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 |
|---|---|---|
| California | 6,742 | 21.0% |
| Florida | 2,675 | 8.3% |
| Arizona | 1,610 | 5.0% |
| Texas | 1,571 | 4.9% |
| Georgia | 1,319 | 4.1% |
| New Jersey | 1,279 | 4.0% |
| North Carolina | 1,116 | 3.5% |
| Washington | 1,086 | 3.4% |
| Virginia | 1,024 | 3.2% |
| Colorado | 963 | 3.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Los Angeles-Long Beach-Glendale | 1,239 |
| Phoenix-Mesa-Chandler | 1,231 |
| Riverside-San Bernardino-Ontario | 1,161 |
| San Diego-Chula Vista-Carlsbad | 790 |
| Sacramento-Roseville-Folsom | 677 |
| Atlanta-Sandy Springs-Roswell | 669 |
| Chicago-Naperville-Schaumburg | 574 |
| Anaheim-Santa Ana-Irvine | 523 |
| Denver-Aurora-Centennial | 523 |
| Charlotte-Concord-Gastonia | 515 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300PIL8LFAQ04XC20 | 2018–2025 |
Established 19 January 2016. Reported under HMDA 2018-2025.
Mergers, name changes, data editions and corrections: Spring EQ's data.
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