A refinance shop
Refinances were 94.9% of its loans in 2025 and purchases only 5.1%. Its typical loan, $355,000, was close to the $330,000 at similar lenders (independent non-bank lenders making between half and twice as many loans).
Applications / Mortgage Analytics / Lenders / California / Network Capital Funding
Network Capital Funding
Irvine, CA · Independent non-bank lender · CFPB · 609 loans in 2025
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609
loans originated, 2025
6,972
applications, 2025
29
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Network Capital Funding is almost entirely a refinance lender, and in 2025 it made 609 loans, down 42% on the year and a small fraction of the 13,324 it made in 2021.
The cost of depending on refinancing
Its loans fell 42% in 2025 while similar lenders grew 2%, a steeper fall than almost all of them. The long decline follows rates: its typical rate was 2.88% in 2020, when it made 11,683 loans, and 6.62% in 2025. Higher rates leave fewer borrowers with a reason to refinance, a plausible cause of most of the fall.
Veterans and diverse neighborhoods
Loans guaranteed by the Department of Veterans Affairs (VA) were 13.6% of its lending, against 5.6% at similar lenders, more than at about four in five of them. Majority-minority neighborhoods took 40.2% of its loans, against 25.3% at similar lenders.
Everywhere, and small everywhere
It lends in 29 states and 128 metros from its base in California. In no large market does it hold much of the business: it ranked 350 of 757 lenders in Los Angeles-Long Beach-Anaheim and 272 of 757 in Washington-Arlington-Alexandria.
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
609 loans in 2025, against a peak of 13,324 in 2021.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Network Capital Funding took 6,972 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
94.9% of its 2025 loans were refinance loans; 69.0% were conventional loans.
Refinance 94.9% · Purchase 5.1%
Conventional 69.0% · FHA 17.4% · VA 13.6% · of 609 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
29 states, 128 metros, 240 counties
| State | Loans | Share |
|---|---|---|
| California | 130 | 21.3% |
| Florida | 89 | 14.6% |
| Texas | 80 | 13.1% |
| Virginia | 58 | 9.5% |
| New Jersey | 52 | 8.5% |
| Arizona | 45 | 7.4% |
| North Carolina | 40 | 6.6% |
| Washington | 31 | 5.1% |
| Maryland | 11 | 1.8% |
| Ohio | 10 | 1.6% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Arlington-Alexandria-Reston | 30 |
| Riverside-San Bernardino-Ontario | 27 |
| Phoenix-Mesa-Chandler | 26 |
| Houston-Pasadena-The Woodlands | 21 |
| Los Angeles-Long Beach-Glendale | 21 |
| Oakland-Fremont-Berkeley | 16 |
| Lakewood-New Brunswick | 15 |
| Orlando-Kissimmee-Sanford | 15 |
| Newark | 14 |
| New York-Jersey City-White Plains | 13 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300GQDT484LGI9C04 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 4533159 | 2013–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7470873092 |
Established 19 June 2002. Reported under HMDA 2012-2025.
Mergers, name changes, data editions and corrections: Network Capital Funding's data.
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