The Mortgage Record
Lender report card · New Jersey

The Federal Savings Bank

Chicago, IL · What the federal mortgage record shows about how The Federal Savings Bank treated New Jersey applicants, 2018–2025 — 5,218 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
83.8%
4,371 approved
Denial rate
16.2%
847 denied
Decisions
5,218
2018–2025
Avg. rate spread
+0.25 pp
vs. market benchmark
83.8% approved
16.2% denied

Share of 5,218 New Jersey applications The Federal Savings Bank approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional87.3% of 2,969 · NJ 87%FHA74.0% of 930 · NJ 79%VA82.6% of 1,317 · NJ 80%

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

Approval rate over time

68%74%80%86%92%93%91%92%72%82%77%84%88%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, The Federal Savings Bank’s rates ran -0.01 pp in line with than the typical New Jersey lender (average rate spread +0.25 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who The Federal Savings Bank approves

By income
Under $50k53.2% · 233$50–75k78.5% · 775$75–100k84.3% · 952$100–150k85.6% · 1,377$150–250k88.2% · 955$250k+91.1% · 403
By debt-to-income
Under 36%88.5% · 1,21836–43%88.6% · 1,05443–50%90.3% · 1,602Over 50%65.3% · 738
By down payment (LTV)
20%+ down84.6% · 2,69710–20% down86.4% · 9375–10% down83.6% · 3293–5% down83.2% · 137Under 3% down81.5% · 666

Why The Federal Savings Bank denied applications

Incomplete application43% of denialsDebt-to-income ratio20% of denialsCredit history13% of denialsCollateral (value/type)13% of denialsOther7% of denialsUnverifiable information4% of denials

Where The Federal Savings Bank lends in NJ

CountyDecisionsApproval
Ocean County1,40690.5%
Monmouth County59286.5%
Bergen County55884.8%
Middlesex County38881.7%
Essex County35380.2%
Burlington County27879.5%
Union County26882.8%
Passaic County19777.2%

Fees & closing costs

Median total loan costs
$7,559
home purchase
As % of loan
2.12%
NJ median 1.93%
Priced originations
1,855
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on The Federal Savings Bank’s home-purchase originations — 0.19 points higher than the 1.93% New Jersey median. Typical lender credit toward costs: $51. 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 The Federal Savings Bank (LEI 549300BX448ALT10FI43). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →