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

Who lends on investment properties in North Dakota?

These are the 25 institutions that reported the most originated, closed-end loans on 1–4 unit investment property in North Dakota 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, Gate City Bank, reported 87 of them.

All 25 rows, 2025 HMDA loan-level data (CFPB/FFIEC Data Browser), retrieved November 11, 2026. Download the ND 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 Dakota 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 The loan had to be originated — applications, approvals that never closed and withdrawn files are excluded.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 Dakota's investor lending market?

The 25 lenders in the table above wrote 823 of North Dakota's 1,007 investor loans — 81.7%. The top five alone wrote 352, or 35.0%. The other 73 reporting lenders divided the remainder.

The average North Dakota investor loan on this vintage was $195,000 — $196.8M across 1,007 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.

North Dakota investor lending by county

The same 2025 HMDA rows, by county. A county page exists for each county with at least 100 investor loans and 25 reporting lenders; each has its own lender table and CSV.

Lenders are counted per county; a lender active in several counties counts once in each, so the county lender counts do not sum to the state's.

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 Dakota 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 November 11, 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. $196.8M of North Dakota lending sits behind this page and every figure on it is reproducible from the published CSV. All 50 states and DC are indexed on the methodology page, and the same filers are ranked across all of them together on who lends on investment properties across all 50 states and DC.

How do I reach Dominick Prevete?

Call or text (908) 220-6404 — Dominick takes these calls himself — or email dominick@dominickprevete.com. For written DSCR loan terms, use the Instant Term Sheet at dominickprevete.com/instant-term-sheet.