Applications / Mortgage Analytics / Lenders / Kansas / M Squared Financial
Prairie Village, KS · Independent non-bank lender · CFPB · 756 loans in 2025
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756
loans originated, 2025
968
applications, 2025
13
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
M Squared Financial is a Kansas City-area home-purchase lender whose loans go more often than its peers' to borrowers with low or moderate incomes.
Purchases made up 89.6% of its 756 loans in 2025. Its typical loan, $275,000, was smaller than at most similar lenders (independent non-bank lenders making between half and twice as many loans), where it was $325,000, and it made no jumbo loans. Its shares insured by the Federal Housing Administration (24.7%) and guaranteed by the Department of Veterans Affairs (7.7%) were a little higher than its peers'.
Borrowers with low or moderate incomes (LMI) took 41.2% of its loans, against 26.2% at similar lenders, more than at about five in six of them. Poorer neighborhoods got 26.1%, against 18.1%. Its smaller loans fit that pattern.
Its loans rose 10% in 2025, in step with the whole market, while similar lenders grew 1%. In Kansas City, its largest market, it ranked 24 of 659 lenders. In Lawrence, Kansas, its share rose from 0.5% to 1.6%.
It first reported in 2022, with 771 loans. Lending dropped to 276 in 2023 before recovering to 688 in 2024 and 756 in 2025.
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, 2022–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. M Squared Financial took 968 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 89.6% · Refinance 8.2% · Home improvement 2.2%
Conventional 67.1% · FHA 24.7% · VA 7.7% · USDA (RHS or FSA) 0.5% · of 756 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 |
|---|---|---|
| Missouri | 404 | 53.4% |
| Kansas | 321 | 42.5% |
| Texas | 15 | 2.0% |
| Georgia | 4 | 0.5% |
| Virginia | 3 | 0.4% |
| California | 2 | 0.3% |
| Colorado | 1 | 0.1% |
| Florida | 1 | 0.1% |
| Illinois | 1 | 0.1% |
| Minnesota | 1 | 0.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Kansas City | 598 |
| Lawrence | 36 |
| Wichita | 11 |
| St. Joseph | 10 |
| Houston-Pasadena-The Woodlands | 7 |
| Topeka | 7 |
| Springfield | 6 |
| Austin-Round Rock-San Marcos | 3 |
| St. Louis | 3 |
| San Antonio-New Braunfels | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493008JUW0FLRMO0W64 | 2022–2025 |
Established 5 April 2013. Reported under HMDA 2022-2025.
Mergers, name changes, data editions and corrections: M Squared Financial's data.
M Squared Financial's data
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M Squared Financial 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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