Who Lends on Investment Properties in North Carolina? 2025 HMDA Data

Who lends on investment properties in North Carolina?

These are the 25 institutions that reported the most originated, closed-end loans on 1–4 unit investment property in North Carolina for 2025, ranked by loan count. Volume is the reported dollar total, average loan size is volume divided by count, and purchase share is the proportion of each lender's loans made to buy rather than refinance. The busiest, STATE EMPLOYEES', reported 1,781 of them.

All 25 rows, 2025 HMDA loan-level data (CFPB/FFIEC Data Browser), retrieved August 31, 2026. Download the NC dataset as CSV — every figure in this table, plus each lender's Legal Entity Identifier.

How was this data filtered?

Four constraints, applied to the full North Carolina extract. The loan had to be originated — applications, approvals that never closed and withdrawn files are excluded. The property had to be 1–4 units. The occupancy had to be investment, not owner-occupied or second home. And the loan had to be closed-end: open-end lines of credit and reverse mortgages are dropped.

The occupancy filter is the one that takes work. The Data Browser API accepts an occupancy parameter and then ignores it, so the filter has to be applied locally to the whole state extract rather than requested from the server. An analysis that trusts the parameter silently includes owner-occupied lending and reports numbers several times too large. The full definition is on the methodology page.

How concentrated is North Carolina's investor lending market?

The 25 lenders in the table above wrote 11,111 of North Carolina's 22,651 investor loans — 49.1%. The top five alone wrote 5,640, or 24.9%. The other 592 reporting lenders divided the remainder.

The average North Carolina investor loan on this vintage was $269,000 — $6.10B across 22,651 loans. Concentration is worth reading alongside the purchase-share column: a lender doing mostly purchase business and one doing mostly refinances are competing for different files even at the same rank.

What does this data not show?

Three gaps, and they matter more than the rankings.

1. Temporary financing is exempt from reporting. Fix-and-flip, bridge and most hard-money lending never enters HMDA, so a lender's position here reflects its reportable closed-end activity, not its whole book. Some of the busiest investor lenders in North Carolina are largely invisible in this table by rule.
2. Small lenders do not file. An institution under roughly 25 closed-end loans a year sits below the reporting threshold. Local private lenders and the smallest community banks are absent by design, not by omission.
3. The data is annual, and it moves. 2025 is the current vintage. The CFPB rebuilds a published file as institutions resubmit, so counts drift upward for months after release — which is why the retrieval date is stated everywhere the figures are.

Where does this data come from?

The Home Mortgage Disclosure Act requires covered institutions to report every mortgage they originate, loan by loan. The CFPB publishes those filings through the FFIEC Data Browser. This page reads the 2025 vintage, retrieved August 31, 2026, filtered as described above and aggregated by Legal Entity Identifier. Lender names are the names on file with the CFPB at retrieval, which is why one may differ from the brand a borrower recognises.

Federal government data, public domain. $6104.2M of North Carolina lending sits behind this page and every figure on it is reproducible from the published CSV. All 15 states are indexed on the methodology page.