ABL Funding HMDA 2025: 1,189 Loans, 699 on 12-Month Terms

Who “ABL Funding” is, and how we matched the names

People searching “ABL Funding” usually want to know whether the lender is legitimate, what it charges and where it lends. The company's website calls itself Asset Based Lending, shows an office at 30 Montgomery Street, Suite 150, Jersey City, NJ 07302 and lists “NMLS #2449622”. We read an Internet Archive copy of its contact page captured June 12, 2026, because the live site blocks automated requests, and we did not check the NMLS number on the NMLS Consumer Access register. Do that before you sign anything.

The federal files name a different legal entity. The FFIEC lists LEI 254900BBWJ82FQDQ6823 as “ABL RPC Residential Credit Acquisition LLC” for both 2025 and 2024. The SEC lists a company of the same name, CIK 0002001165, with a business address of “30 MONTGOMERY ST, STE 150, JERSEY CITY, NJ 07302”: the same street address as the website. That is our basis for treating the HMDA filer as the lender behind the ABL brand. Neither source says so in words, so it is our reading, and the SEC filer is not described on the website. This page uses “ABL Funding” for the brand and the full name for the data.

What the website says about itself: “With over 15 years in operations and more than 9,000+ projects funded.” Those are the company's marketing claims; we could not check them. Its Fix & Flip program is described as “Short-term financing to buy and rehab residential investment properties, with closings in as few as 20 days,” with terms of 12-24 months. Its rental program is described as “Purchase or refinance rental properties with 30-year terms, including cash-out options to fund your next investment.” The 2025 federal file has exactly these two shapes.

Our filter. The 2025 file has 1,820 records: 1,189 originated, 379 denied, 138 approved but not accepted and 114 withdrawn by the applicant. We kept action_taken = 1 (originated) and business_or_commercial_purpose = 1, which is all 1,189 originated loans. No filter on state, term, purpose or property was applied. We downloaded the lender's complete file from the FFIEC data browser (one file per Legal Entity Identifier) and counted it ourselves; the recount output is in sources/.

Two books under one name

The overall median of 10.125% hides the split. A borrower in the short-term book and a borrower in the 30-year book were priced about four points apart, and the only thing a median across both measures is the mix.

Three readings, each from the file and the code list (the FFIEC public data-field list defines purpose code 2 as “Home improvement” and purchaser code 9 as “Other type of purchaser”).

1. The short-term book is a rehab bridge book. 800 of the 808 short-term loans carry purpose code 2, home improvement. Only 2 are coded home purchase, so the file does not separate a purchase from the renovation that follows it; our reading is that the lender codes its fix-and-flip loans as home improvement. What the file shows is the structure of a bridge loan: 12 to 24 months, interest-only, a balloon at the end. The website describes a fix-and-flip loan of 12-24 months.

2. The 30-year book is a rental book that was sold. 381 loans at 360 months and a median of 7.375%, none with a balloon, all reported sold. The website describes 30-year rental loans with cash-out options. The file does not say who bought the loans or whether they went into securities, and we do not claim either.

3. Sale reporting changed between years. In the 2024 file 1,343 of 1,371 loans carry purchaser code 9, including the short-term ones (750 of the 2024 loans have a balloon). In 2025 the short-term loans carry code 0 (not applicable). The file cannot say whether the 2025 short-term loans were kept or sold after year end, or whether the way the lender codes them changed. Do not read the 2025 zero as a change in strategy.

What a loan costs: the note rate and what the file hides

The 2025 spread is wide. The lowest rate is 6.25% and the highest 16.375%. 603 of 1,189 loans (50.7%) are at 10% or more, 322 (27.1%) at 12% or more and 331 under 8%, every one of them a 30-year loan. The most common rates are 11.625% (110 loans), 9.99% (82), 9.5% (72), 12.375% (52) and 12.125% (48). Among short-term loans the lowest rate is 8.75%.

The public file has no value for total loan costs, origination charges, discount points, total points and fees or rate spread on any of the 1,189 loans, and all of them read “NA”. The cost of getting the loan is not visible. A worked example, our arithmetic:

• Take the median short-term loan, $475,000, interest-only at the 11.625% median. Twelve months of interest is $55,218.75, or $4,601.56 a month. A balloon of $475,000 is due at maturity.
• If that 12-month loan is extended six months at the same rate, the extra interest is $27,609.38. The file cannot say whether the lender charges extension fees; ask for the term sheet. Our hard money loan extension, default interest and points page lists what to look for.
• One point of fee on $475,000 is $4,750. The file cannot tell you whether this lender charges one.
• The median 30-year loan, $225,000 at 7.375% fully amortizing over 360 months, has a payment of about $1,554 a month before taxes and insurance.

The website advertises a loan size of $75K to $50M for fix-and-flip. The median short-term loan in the file, $475,000, sits in the lower part of that range; the middle half of all loans is $215,000 to $675,000.

Where the loans are

New Jersey is 22.0% of loans and 32.4% of dollars (our arithmetic). Its 262 loans split into 168 at 12 months, 50 at 360 months, 37 at 18 months and 5 at 24 months. Pennsylvania's median is low because 41 of its 71 loans are 30-year loans; South Carolina's is high because 45 of 70 are 12-month loans. State medians therefore say more about the mix of the two books than about the state. Our state pages show ABL RPC within each market: New Jersey hard money loans, Tennessee hard money loans and DSCR loans in New Jersey. Those pages use a short-term investor-loan filter of their own, so their counts for ABL RPC are lower than the totals here.

2025 against 2024

Loans fell 13.3% while dollars rose 4.0%, because the median loan grew from $305,000 to $365,000 (our arithmetic). The 12-month median rate fell 1.25 points, from 12.875% to 11.625%. The number of 30-year loans fell from 620 to 381, so the mix moved toward bridge loans, which is why the median note rate overall fell only 0.125 of a point.

Denials: 379 in 2025 and 376 in 2024, which is 24.2% and 21.5% of originated plus denied loans (our arithmetic). All 379 denied applications are coded business purpose; 189 were for cash-out refinancing and 70 for home improvement. The first denial reasons are 197 “credit application incomplete”, 149 “collateral”, 19 “credit history”, 9 “unverifiable information” and 5 “insufficient cash”. That is not an approval rate. A lender that screens before an application is recorded shows fewer denials, and HMDA does not record screening.

What the SEC filings add, and what they do not

ABL RPC Residential Credit Acquisition LLC is also an SEC securitizer filer (CIK 0002001165). It filed a Form ABS-15G on January 9, 2024, on January 22, 2025 and on February 12, 2026, for the reporting periods 2023, 2024 and 2025. In each, under the item titled “Annual Filing of Rule 15Ga-1 Representations and Warranties Disclosure,” the form states that the company “has indicated by check mark that there is no activity to report for the annual period.” The form is two pages of boilerplate: it lists no loans, no pools and no counts. It does not describe loan quality and does not say how many loans were securitized.

We did not open other securitizers' filings that may mention ABL as a loan originator; that is a gap in this page.

Reviews and complaints: what we did and did not check

Rankings and reviews of this lender are mostly company-written or on review sites we did not save. We did not use them. What this page offers instead is the federal record of what ABL RPC lent in 2025 and 2024, plus the company's own description of its programs. We did not search the CFPB complaint database for this lender, and we did not check litigation, state licensing registers or the NMLS record. If you are comparing ABL with other hard money lenders, our hard money lenders page puts ABL RPC next to the national lenders on the same HMDA filter, and our hard money loan rates page shows the national rate picture.

What a reader can do with this

1. Decide which book you would be in. If you want a 12-to-24-month loan to buy and renovate, the relevant numbers are the short-term ones: a median of 11.625% on a $475,000 loan, interest-only, with a balloon. If you want a 30-year rental loan, the relevant numbers are 7.375% on $225,000. The overall 10.125% median describes no actual borrower.
2. Compare in the same band. Short-term lenders in the same HMDA file span a wide range of loan sizes; compare a quote with lenders of the same loan size and term, not with the national median. See our fix and flip loans page and our bridge loan page.
3. Ask for the full cost in writing. Points, origination fee, extension fee, draw fees, prepayment terms and the balloon date. HMDA shows none of them for this lender.
4. Plan the balloon and the extension. All 808 short-term loans have a balloon payment. A 12-month loan means a sale or a refinance within a year; the 699 loans at 12 months are 58.8% of everything the lender reported.
5. Verify the licence. Check NMLS ID 2449622 and the licences the company lists on the official registers, and confirm which legal entity will be the lender on your loan documents. The HMDA filer is an LLC with “Residential Credit Acquisition” in its name; ask which entity holds the note.
6. Compare with lenders built for flips. The lenders in the box below are purchase and rehab lenders; Kiavi pays us a referral fee when a loan closes through the button. ABL is not an affiliate, and the counts above are the same either way.

FAQ

Related reads: Hard money lenders 2026, Hard money loans in New Jersey, Hard money loan rates 2026 and Val-Chris Investments, another private lender's 2025 HMDA record.

Sources: loan-level data from the FFIEC HMDA Data Browser, 2025 and 2024 files for LEI 254900BBWJ82FQDQ6823, all action types, downloaded November 5, 2026 through the public API; the FFIEC 2025 and 2024 filer lists; the FFIEC public loan application register data-field list (codes for purpose, purchaser type, action taken and denial reason); SEC EDGAR submissions record and Forms ABS-15G for CIK 0002001165 (accessions 0001104659-24-002535, 0001104659-25-005120 and 0001104659-26-014218); Internet Archive copies of ablfunding.com read November 5, 2026 (contact page captured June 12, 2026; home page captured July 15, 2026). Our recount script and its output are in sources/. All percentages, differences and “our arithmetic” figures are calculated by us. This is analysis of public documents, not investment, legal or tax advice. Compiled by CrowdfundedWealth on November 5, 2026.