Applications / Mortgage Analytics / Lenders / California / Bay Equity
Corte Madera, CA · Independent non-bank lender · CFPB · 4,443 loans in 2025
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4,443
loans originated, 2025
6,552
applications, 2025
46
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Bay Equity, a national home-purchase lender, more than halved its lending in 2025 while similar lenders grew.
It made 4,443 loans, down 54% from 9,751. Similar lenders, independent non-bank lenders making between half and twice as many loans, grew 11% and the whole market 10%. None of them shrank faster. Its mix hardly changed, with conventional loans at 76.6% against 76.7%, so the fall came across the board rather than from one product line. The data do not show its cause.
Its share fell in markets it has served since 2009. In San Diego-Chula Vista-Carlsbad, CA it dropped to 0.2% from 0.5%, and in Portland-Vancouver-Hillsboro, OR-WA to 0.3% from 0.5%. Those falls may simply follow from its halved lending overall rather than anything particular to those cities. It still reaches 46 states and 210 metros, with Washington its main state.
Its typical loan, $365,000, was larger than the $315,000 at similar lenders. Only 0.8% of its loans were higher-priced, at a rate well above the average for similar loans, against 2.4% at similar lenders. Loans insured by the Federal Housing Administration (FHA) were 15.7% of its total, against 23.8%.
Majority-minority neighborhoods took 27.1% of its loans, up from 14.2% five years before and a little above the 24.8% at similar lenders. Neighborhoods of low and moderate income took 18.7%, up from 14.4%.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Bay Equity took 6,552 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 95.9% · Refinance 4.1%
Conventional 76.6% · FHA 15.7% · VA 7.5% · USDA (RHS or FSA) 0.3% · of 4,443 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 |
|---|---|---|
| Washington | 476 | 10.7% |
| Illinois | 470 | 10.6% |
| California | 426 | 9.6% |
| Maryland | 368 | 8.3% |
| Texas | 302 | 6.8% |
| Colorado | 257 | 5.8% |
| Virginia | 190 | 4.3% |
| Florida | 180 | 4.1% |
| Oregon | 180 | 4.1% |
| Kentucky | 166 | 3.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Chicago-Naperville-Schaumburg | 380 |
| Arlington-Alexandria-Reston | 159 |
| Portland-Vancouver-Hillsboro | 158 |
| Phoenix-Mesa-Chandler | 141 |
| Baltimore-Columbia-Towson | 139 |
| Frederick-Gaithersburg-Bethesda | 138 |
| Tacoma-Lakewood | 136 |
| Minneapolis-St. Paul-Bloomington | 127 |
| Seattle-Bellevue-Kent | 124 |
| Louisville/Jefferson County | 115 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300PL8ER6H23P0Z91 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 4186573 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7260360466 |
Established 12 June 2007. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Bay Equity's data.
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