{
 "generated": "2026-09-13",
 "model": "builder-affiliated-v1.0",
 "source_vintage": "HMDA 2025",
 "classification": "Hand-coded from GLEIF legal names: a lender is marked builder-affiliated when its legal name identifies it as the finance arm of a homebuilder (D.R. Horton, Lennar, NVR, PulteGroup, KB Home, Century Communities). This is a judgement about names, not a corporate-ownership dataset, and it is published so it can be disputed.",
 "n_builder": 6,
 "n_other": 37,
 "metrics": {
  "observed_over_expected": {
   "builder_mean": 1.26,
   "other_mean": 0.74,
   "difference": 0.53,
   "permutation_p": 0.0063
  },
  "observed_denial_rate_pct": {
   "builder_mean": 22.48,
   "other_mean": 14.48,
   "difference": 8.0,
   "permutation_p": 0.113
  },
  "median_rate_spread_vs_apor": {
   "builder_mean": -0.77,
   "other_mean": 0.55,
   "difference": -1.33,
   "permutation_p": 0.0001
  },
  "applications_in_model": {
   "builder_mean": 13543.5,
   "other_mean": 13453.76,
   "difference": 89.74,
   "permutation_p": 0.9928
  },
  "profile_coverage_pct": {
   "builder_mean": 95.47,
   "other_mean": 90.94,
   "difference": 4.53,
   "permutation_p": 0.0902
  }
 },
 "members": [
  "DHI MORTGAGE COMPANY, LTD.",
  "LENNAR MORTGAGE, LLC",
  "NVR Mortgage Finance, Inc.",
  "PULTE MORTGAGE LLC",
  "KBHS HOME LOANS, LLC",
  "INSPIRE HOME LOANS INC."
 ],
 "boundaries": [
  "Six lenders is a small group; every comparison here carries a permutation test and none should be read as a population estimate.",
  "The peer-adjusted expectation controls for state, loan amount, income, DTI and CLTV. It cannot control for how an application arrived \u2014 a captive sales funnel is exactly the kind of composition the cells do not capture.",
  "Observed, unadjusted pricing. Rate spread reflects buydowns, points and product mix as well as pricing policy.",
  "Screening signal only: not evidence of misconduct, discrimination or causation, and never a prediction about an individual application."
 ]
}