Applications / Mortgage Analytics / Lenders / Iowa / Residential Mortgage Network
Iowa City, IA · Independent non-bank lender · CFPB · 540 loans in 2025
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540
loans originated, 2025
598
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Residential Mortgage Network, an Iowa City non-bank lender that lends only in Iowa, leans on government-backed loans and lends to low- and moderate-income borrowers far more than other lenders of its size.
VA loans (guaranteed by the Department of Veterans Affairs) made up 25.7% of its lending and RHS loans (guaranteed by the Department of Agriculture's Rural Housing Service) 10.4%. At the typical similar lender, meaning independent non-bank lenders making between half and twice as many loans, the shares were 5.5% and nil. Only 46.5% of its loans were conventional, against 67.5% at peers.
Its typical loan was $215,000, smaller than at more than four in five similar lenders, whose typical loan was $325,000. Nearly half its borrowers, 48.5%, had low or moderate incomes, about double the share at peers. Rural and veterans' loan programs, and smaller loans, fit that pattern.
Its loans rose 16% in 2025, against 2% at similar lenders and 10% for the whole market. It has grown two years running from 369 loans in 2023, though it remains below the 654 it made in 2021. Home purchases were 87.6% of its loans.
It ranks fourth of 171 lenders in Iowa City, behind GreenState Credit Union and Hills Bank and Trust Company, but its share fell from 6.1% to 4.3%. Some of its growth may have come elsewhere in Iowa, where it lends in 38 counties, and rivals may simply have grown faster in Iowa City.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Residential Mortgage Network took 598 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 87.6% · Refinance 9.1% · Other 3.3%
Conventional 46.5% · VA 25.7% · FHA 17.4% · USDA (RHS or FSA) 10.4% · of 540 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 |
|---|---|---|
| Iowa | 540 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Iowa City | 197 |
| Cedar Rapids | 143 |
| Des Moines-West Des Moines | 17 |
| Dubuque | 14 |
| Davenport-Moline-Rock Island | 10 |
| Waterloo-Cedar Falls | 3 |
| Ames | 1 |
| Omaha | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300NTQ8BOK9455W21 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 4183581 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7421295369 |
Established 4 May 1987. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Residential Mortgage Network's data.
Residential Mortgage Network's data
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