Applications / Mortgage Analytics / Lenders / Indiana / MJW Financial
Indianapolis, IN · Independent non-bank lender · CFPB · 1,219 loans in 2025
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1,219
loans originated, 2025
1,625
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
MJW Financial is an Indiana home-purchase lender that has moved toward government-backed loans and lower-income borrowers since it first reported in 2020.
Home purchases made up 80.2% of its lending in 2025. Its 1,219 loans were 4% fewer than in 2024, while similar lenders (independent non-bank lenders making between half and twice as many loans) grew by 2% and the whole market by 10%. Its loans peaked at 1,724 in 2021 and have stayed between 1,177 and 1,319 a year since.
In 2020, 98.0% of its loans were conventional. By 2025 loans insured by the Federal Housing Administration (FHA) made up 17.8% and loans guaranteed by the Department of Veterans Affairs (VA) 6.3%. Even so, its FHA share remains below the 22.6% typical of similar lenders.
Borrowers of low or moderate income (LMI) took 36.4% of its loans, up from 21.8% in 2020 and more than at about three-quarters of similar lenders. Yet only 14.7% of its loans were in LMI neighborhoods, fewer than at three in four peers, and 6.6% were in majority-minority neighborhoods, against 28.8% for the typical peer. One possible reason is that much of its lending is in smaller Indiana markets such as Kokomo and Lafayette, whose neighborhoods may differ from those its peers serve.
Its share of Kokomo lending rose by 1.1 points to 3.6%, ninth of 209 lenders. It also refuses few refinances: 1.4% of decided refinance applications were denied, against 6.0% for the typical peer.
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, 2020–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. MJW Financial took 1,625 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 80.2% · Refinance 18.1% · Other 1.3% · Home improvement 0.3%
Conventional 74.8% · FHA 17.8% · VA 6.3% · USDA (RHS or FSA) 1.1% · of 1,219 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 |
|---|---|---|
| Indiana | 1,209 | 99.2% |
| Florida | 4 | 0.3% |
| Michigan | 3 | 0.2% |
| Illinois | 2 | 0.2% |
| Ohio | 1 | 0.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Indianapolis-Carmel-Greenwood | 966 |
| Kokomo | 80 |
| Lafayette-West Lafayette | 35 |
| Lake County-Porter County-Jasper County | 13 |
| Muncie | 11 |
| Terre Haute | 8 |
| Fort Wayne | 7 |
| Columbus | 6 |
| Bloomington | 3 |
| Evansville | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900F3ZV3WV1ADSM47 | 2020–2025 |
Established 29 January 2008. Reported under HMDA 2020-2025.
Mergers, name changes, data editions and corrections: MJW Financial's data.
MJW Financial's data
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