Applications / Mortgage Analytics / Lenders / Washington / Sound Community Bank
Seattle, WA · State non-member bank · FDIC · $1.1 billion assets · 180 loans in 2025
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180
loans originated, 2025
271
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Sound Community Bank, a Seattle bank that began as a credit union, is now chiefly a lender on manufactured homes, which made up 58.9% of its loans in 2025.
Similar banks (state non-member banks making between half and twice as many loans) put a typical 2.8% of their loans into manufactured homes. Sound Community Bank put in nearly three in five, more than almost any of its peers. Its loans are small, which may follow from that: the typical one was $130,000, against $175,000 at its peers. All were conventional, and two-thirds were home purchases.
Of its loans, 61.7% were higher-priced (a rate well above the average for similar loans), against 2.2% at its peers, and its typical rate was 8.12%, against 6.88%. Its manufactured-home lending may account for most of the difference, since such loans usually carry higher rates than loans on site-built houses.
It turned down 16.0% of decided first-lien home-purchase applications on owner-occupied homes, against 6.1% at the typical peer, higher than about four in five of them. Applications for manufactured homes are turned down more often than others, and with most of its lending in that product, that may explain most of the gap.
Its share of loans to low- and moderate-income (LMI) borrowers was 45.0%, against 27.7% for its peers and higher than about nine in ten of them. Five years earlier it was 22.7%. Cheaper homes may draw buyers with lower incomes.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Sound Community Bank took 271 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 67.8% · Refinance 32.2%
Conventional 100.0% · of 180 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 |
|---|---|---|
| Washington | 176 | 97.8% |
| Alabama | 1 | 0.6% |
| Florida | 1 | 0.6% |
| New Jersey | 1 | 0.6% |
| Oregon | 1 | 0.6% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Seattle-Bellevue-Kent | 29 |
| Tacoma-Lakewood | 17 |
| Everett | 16 |
| Olympia-Lacey-Tumwater | 13 |
| Bremerton-Silverdale-Port Orchard | 6 |
| Wenatchee-East Wenatchee | 4 |
| Bellingham | 3 |
| Camden | 1 |
| Eugene-Springfield | 1 |
| Kennewick-Richland | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300U8DCOOTG96YM89 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 429487 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 417942 | 2003–2010 |
| Respondent ID (the HMDA filer code before 2018) | 1717942 | 2011–2011 |
| Respondent ID (the HMDA filer code before 2018) | 357451 | 2012–2017 |
Established 1 January 1953. Reported under HMDA 2003-2025.
Mergers, name changes, data editions and corrections: Sound Community Bank's data.
Sound Community Bank's data
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Sound Community 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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