The Mortgage Record
Lender report card · New Jersey

Plains Commerce Bank

Hoven, SD · What the federal mortgage record shows about how Plains Commerce Bank treated New Jersey applicants, 2018–2025 — 3,443 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
98.2%
3,382 approved
Denial rate
1.8%
61 denied
Decisions
3,443
2018–2025
Avg. rate spread
+0.32 pp
vs. market benchmark
98.2% approved
1.8% denied

Share of 3,443 New Jersey applications Plains Commerce Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional98.6% of 3,005 · NJ 87%FHA95.3% of 363 · NJ 79%VA98.6% of 73 · NJ 80%

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

Approval rate over time

84%88%92%96%100%100%99%96%97%96%88%202020212022202320242025

Pricing

Adjusting for its loan-type mix, Plains Commerce Bank’s rates ran +0.03 pp in line with than the typical New Jersey lender (average rate spread +0.32 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Plains Commerce Bank approves

By income
Under $50k90.6% · 106$50–75k97.6% · 382$75–100k97.5% · 640$100–150k98.6% · 1,108$150–250k99.1% · 851$250k+99.1% · 321
By debt-to-income
Under 36%99.5% · 1,29736–43%99.7% · 88843–50%98.8% · 1,034Over 50%79.6% · 191
By down payment (LTV)
20%+ down99.8% · 2,40810–20% down99.5% · 3845–10% down98.2% · 3403–5% down98.3% · 232Under 3% down97.2% · 36

Why Plains Commerce Bank denied applications

Debt-to-income ratio61% of denialsCredit history25% of denialsCollateral (value/type)11% of denialsEmployment history8% of denialsOther7% of denialsUnverifiable information7% of denials

Where Plains Commerce Bank lends in NJ

CountyDecisionsApproval
Ocean County61097.5%
Bergen County51699.2%
Monmouth County48898.6%
Middlesex County29099.0%
Union County21997.3%
Passaic County20898.6%
Morris County19499.5%
Essex County17199.4%

Fees & closing costs

Median total loan costs
$7,578
home purchase
As % of loan
2.26%
NJ median 1.93%
Priced originations
1,548
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Plains Commerce Bank’s home-purchase originations — 0.33 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $1,428. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

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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 Plains Commerce Bank (LEI 549300KJ8PAJ7E52HG32). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →