The Mortgage Record
Lender report card · New Jersey

Discover Bank

Greenwood, DE · What the federal mortgage record shows about how Discover Bank treated New Jersey applicants, 2018–2025 — 5,588 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
11.2%
627 approved
Denial rate
88.8%
4,961 denied
Decisions
5,588
2018–2025
Avg. rate spread
+1.02 pp
vs. market benchmark
11.2% approved
88.8% denied

Share of 5,588 New Jersey applications Discover Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional11.2% of 5,588 · NJ 87%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

1%5%9%13%17%8%5%14%15%14%10%11%10%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Discover Bank’s rates ran +0.80 pp higher than the typical New Jersey lender (average rate spread +1.02 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Discover Bank approves

By income
Under $50k4.6% · 1,226$50–75k11.4% · 1,160$75–100k16.1% · 971$100–150k15.3% · 1,088$150–250k12.3% · 773$250k+5.4% · 369
By debt-to-income
Under 36%15.1% · 2,09136–43%37.7% · 82643–50%0.0% · 374Over 50%0.0% · 1,412
By down payment (LTV)
20%+ down12.2% · 4,90010–20% down5.4% · 1125–10% down4.0% · 25Under 3% down0.0% · 156

Why Discover Bank denied applications

Credit history45% of denialsIncomplete application24% of denialsDebt-to-income ratio11% of denialsUnverifiable information10% of denialsOther10% of denialsCollateral (value/type)3% of denials

Where Discover Bank lends in NJ

CountyDecisionsApproval
Ocean County51912.3%
Bergen County4418.2%
Middlesex County43812.6%
Camden County42311.1%
Monmouth County42014.0%
Burlington County39115.1%
Essex County33010.0%
Atlantic County29610.5%

Consumer complaints

CFPB complaints
11
from NJ, 2022–present

Complaints New Jersey mortgage customers filed against Discover Bank with the federal Consumer Financial Protection Bureau, 2022–present. Most common issue: Trouble during payment process. Most mortgage complaints concern servicing — payments, escrow, and foreclosure — so this reflects a company’s customer experience as much as its lending, and volume partly tracks how many loans it services. Source: CFPB Consumer Complaint Database.

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Discover Bank (LEI X05BVSK68TQ7YTOSNR22). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →