Applications / Mortgage Analytics / Lenders / New Jersey / Freedom Bank
Maywood, NJ · State non-member bank · FDIC · $812 million assets · 32 loans in 2025
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32
loans originated, 2025
45
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Freedom Bank, of Maywood, New Jersey, makes few home loans but large ones, and most of them go to majority-minority neighborhoods.
Its typical loan was $920,000 in 2025, against $175,000 at similar lenders, state non-member banks making between half and twice as many loans. That is larger than at nearly all of them. Its loans have grown bigger: the typical one was $510,000 in 2020 and $705,000 in 2024. Its 32 loans added up to $65.7 million.
Of its loans, 81.2% went to majority-minority neighborhoods, against 6.1% at similar banks, a higher share than at nearly all of them. Almost half, 46.9%, went to poorer neighborhoods (low- and moderate-income, or LMI, tracts), against 18.9%. This has long been its pattern: 68.2% of its loans went to majority-minority neighborhoods in 2020. Its base in the New York metro, where it has lent since 2009, may explain much of it.
It ranked 239 of 802 lenders in New York-Newark-Jersey City, a market led by JPMorgan Chase Bank and Wells Fargo Bank. It made 32 loans, down from 39; for a bank making a few dozen large loans, a handful either way moves the count. In 2025 it made its first loans in Wilmington, North Carolina.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Freedom Bank took 45 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 50.0% · Refinance 46.9% · Home improvement 3.1%
Conventional 100.0% · of 32 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 |
|---|---|---|
| New Jersey | 30 | 93.8% |
| North Carolina | 1 | 3.1% |
| New York | 1 | 3.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| New York-Jersey City-White Plains | 28 |
| Newark | 3 |
| Wilmington | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300K9D373DH6LF245 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3729124 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 358712 | 2009–2017 |
Established 17 April 2008. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Freedom Bank's data.
Freedom Bank's data
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Freedom Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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