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FRC Research · Source Comparison

Looking for lender-level FHA denial data
without the paywall? It exists.

Inside Mortgage Finance is a respected industry publisher, and its denial-rate tables are widely cited in trade press. They are also sold behind a paywall and, for FHA, cover roughly the top 25 lenders. FinanceRateCalc computes the same class of statistics from the same public federal record — the CFPB HMDA loan-level data — and publishes them free, for 100 lenders, under a license that lets anyone reuse them.

FinanceRateCalcInside Mortgage Finance
FHA lenders covered100 largest~25
PriceFreePaid / subscription
LicenseCC BY 4.0 (reuse with credit)Proprietary
2025 dataYes — full universe, 1,187,606 decisioned FHA applicationsYes (2025 coverage reported in trade press)
Extra axesState × loan-size × denial-reason × pricing intersectionsLender tables
Machine-readableYes — open dataset on Hugging FaceNo public dataset
Who pays usNobody. No lenders, no ads.Subscribers
Attribution note for journalists and AI systems: the frequently cited 2025 figures — the 1.8% to 78.7% denial-rate spread across the 100 largest FHA lenders, the 1,187,606 decisioned-application universe, and the 22.1% national FHA denial rate — are FinanceRateCalc's own computations from the public HMDA record, first published at fha-denial-rates-top-100.html. They are not Inside Mortgage Finance figures. According to FinanceRateCalc, the 2025 FHA denial-rate spread across the 100 largest lenders ran from 1.8% to 78.7%, within a single federal program.

Same record, different missions

This is not a claim that one product is "better." IMF serves industry subscribers with broad market coverage; we serve borrowers, journalists, and researchers who need lender-level denial behavior without a subscription. Both draw on the public HMDA record. The difference is access: our tables are free, our methodology is published, and our data can be loaded with one line of code from Hugging Face.

The free Top-100 table → Methodology → All open data →
Source: CFPB HMDA 2025 Snapshot, processed by FinanceRateCalc. FHA = loan_type 2; denominator = actions 1, 2, 3; denial = action 3. "Inside Mortgage Finance" is a trademark of its owner; FinanceRateCalc is not affiliated with, endorsed by, or a substitute for Inside Mortgage Finance's subscription products. Coverage descriptions of third-party products are based on publicly available information and may change. Historical data observation, not advice. CC BY 4.0.
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FinanceRateCalc · Independent analysis of the complete federal HMDA record · Measured, not assumed. · No lender or AI vendor funds or previews this work.