{
 "generated": "2026-09-15",
 "definition": "small = loan amount under $150,000; big = over $250,000; penalty_ratio = small-loan denial rate / big-loan denial rate; FHA (loan_type 2), decisioned applications (actions 1,2,3), HECM excluded, 2025",
 "states": 48,
 "all_states_penalty_above_1": true,
 "min_penalty": 1.19,
 "max_penalty": 4.45,
 "ranked": [
  {
   "state": "ID",
   "small_loan_denial_pct": 53.4,
   "big_loan_denial_pct": 12.0,
   "penalty_ratio": 4.45,
   "denial_rate_pct": 15.0,
   "decisioned_applications": 8221
  },
  {
   "state": "UT",
   "small_loan_denial_pct": 53.8,
   "big_loan_denial_pct": 13.9,
   "penalty_ratio": 3.87,
   "denial_rate_pct": 15.2,
   "decisioned_applications": 14689
  },
  {
   "state": "WA",
   "small_loan_denial_pct": 56.7,
   "big_loan_denial_pct": 16.5,
   "penalty_ratio": 3.44,
   "denial_rate_pct": 18.7,
   "decisioned_applications": 20313
  },
  {
   "state": "OR",
   "small_loan_denial_pct": 53.4,
   "big_loan_denial_pct": 15.7,
   "penalty_ratio": 3.4,
   "denial_rate_pct": 18.2,
   "decisioned_applications": 12568
  },
  {
   "state": "NH",
   "small_loan_denial_pct": 63.3,
   "big_loan_denial_pct": 19.6,
   "penalty_ratio": 3.23,
   "denial_rate_pct": 23.7,
   "decisioned_applications": 3399
  },
  {
   "state": "NV",
   "small_loan_denial_pct": 46.8,
   "big_loan_denial_pct": 15.6,
   "penalty_ratio": 3.0,
   "denial_rate_pct": 17.7,
   "decisioned_applications": 15198
  },
  {
   "state": "MA",
   "small_loan_denial_pct": 59.7,
   "big_loan_denial_pct": 20.6,
   "penalty_ratio": 2.9,
   "denial_rate_pct": 22.9,
   "decisioned_applications": 12621
  },
  {
   "state": "SD",
   "small_loan_denial_pct": 43.4,
   "big_loan_denial_pct": 15.0,
   "penalty_ratio": 2.89,
   "denial_rate_pct": 21.1,
   "decisioned_applications": 2807
  },
  {
   "state": "AZ",
   "small_loan_denial_pct": 46.7,
   "big_loan_denial_pct": 16.2,
   "penalty_ratio": 2.88,
   "denial_rate_pct": 18.7,
   "decisioned_applications": 39282
  },
  {
   "state": "MT",
   "small_loan_denial_pct": 47.7,
   "big_loan_denial_pct": 16.7,
   "penalty_ratio": 2.86,
   "denial_rate_pct": 21.4,
   "decisioned_applications": 3031
  },
  {
   "state": "ME",
   "small_loan_denial_pct": 50.8,
   "big_loan_denial_pct": 18.4,
   "penalty_ratio": 2.76,
   "denial_rate_pct": 24.0,
   "decisioned_applications": 4422
  },
  {
   "state": "WY",
   "small_loan_denial_pct": 37.2,
   "big_loan_denial_pct": 14.0,
   "penalty_ratio": 2.66,
   "denial_rate_pct": 17.6,
   "decisioned_applications": 2911
  },
  {
   "state": "CA",
   "small_loan_denial_pct": 53.7,
   "big_loan_denial_pct": 20.4,
   "penalty_ratio": 2.63,
   "denial_rate_pct": 21.7,
   "decisioned_applications": 78246
  },
  {
   "state": "ND",
   "small_loan_denial_pct": 35.3,
   "big_loan_denial_pct": 13.5,
   "penalty_ratio": 2.61,
   "denial_rate_pct": 17.8,
   "decisioned_applications": 2063
  },
  {
   "state": "NM",
   "small_loan_denial_pct": 45.5,
   "big_loan_denial_pct": 17.4,
   "penalty_ratio": 2.61,
   "denial_rate_pct": 22.3,
   "decisioned_applications": 9157
  },
  {
   "state": "MS",
   "small_loan_denial_pct": 42.0,
   "big_loan_denial_pct": 16.3,
   "penalty_ratio": 2.58,
   "denial_rate_pct": 24.8,
   "decisioned_applications": 13335
  },
  {
   "state": "NE",
   "small_loan_denial_pct": 38.5,
   "big_loan_denial_pct": 14.9,
   "penalty_ratio": 2.58,
   "denial_rate_pct": 20.7,
   "decisioned_applications": 6024
  },
  {
   "state": "TN",
   "small_loan_denial_pct": 39.6,
   "big_loan_denial_pct": 15.8,
   "penalty_ratio": 2.51,
   "denial_rate_pct": 20.5,
   "decisioned_applications": 35803
  },
  {
   "state": "CT",
   "small_loan_denial_pct": 54.9,
   "big_loan_denial_pct": 23.1,
   "penalty_ratio": 2.38,
   "denial_rate_pct": 26.7,
   "decisioned_applications": 9374
  },
  {
   "state": "NC",
   "small_loan_denial_pct": 41.6,
   "big_loan_denial_pct": 17.6,
   "penalty_ratio": 2.36,
   "denial_rate_pct": 21.8,
   "decisioned_applications": 46286
  },
  {
   "state": "AL",
   "small_loan_denial_pct": 39.2,
   "big_loan_denial_pct": 16.7,
   "penalty_ratio": 2.35,
   "denial_rate_pct": 22.9,
   "decisioned_applications": 27715
  },
  {
   "state": "OK",
   "small_loan_denial_pct": 35.0,
   "big_loan_denial_pct": 14.9,
   "penalty_ratio": 2.35,
   "denial_rate_pct": 20.1,
   "decisioned_applications": 18365
  },
  {
   "state": "CO",
   "small_loan_denial_pct": 46.3,
   "big_loan_denial_pct": 20.0,
   "penalty_ratio": 2.31,
   "denial_rate_pct": 21.6,
   "decisioned_applications": 23710
  },
  {
   "state": "DE",
   "small_loan_denial_pct": 51.6,
   "big_loan_denial_pct": 22.3,
   "penalty_ratio": 2.31,
   "denial_rate_pct": 25.1,
   "decisioned_applications": 5270
  },
  {
   "state": "AR",
   "small_loan_denial_pct": 33.6,
   "big_loan_denial_pct": 14.6,
   "penalty_ratio": 2.3,
   "denial_rate_pct": 21.1,
   "decisioned_applications": 13769
  },
  {
   "state": "MO",
   "small_loan_denial_pct": 33.0,
   "big_loan_denial_pct": 14.4,
   "penalty_ratio": 2.29,
   "denial_rate_pct": 20.2,
   "decisioned_applications": 25098
  },
  {
   "state": "WI",
   "small_loan_denial_pct": 45.6,
   "big_loan_denial_pct": 19.9,
   "penalty_ratio": 2.29,
   "denial_rate_pct": 26.5,
   "decisioned_applications": 12056
  },
  {
   "state": "LA",
   "small_loan_denial_pct": 39.1,
   "big_loan_denial_pct": 17.5,
   "penalty_ratio": 2.23,
   "denial_rate_pct": 24.6,
   "decisioned_applications": 19260
  },
  {
   "state": "SC",
   "small_loan_denial_pct": 40.0,
   "big_loan_denial_pct": 17.9,
   "penalty_ratio": 2.23,
   "denial_rate_pct": 21.2,
   "decisioned_applications": 32368
  },
  {
   "state": "KY",
   "small_loan_denial_pct": 34.3,
   "big_loan_denial_pct": 15.5,
   "penalty_ratio": 2.21,
   "denial_rate_pct": 21.4,
   "decisioned_applications": 19082
  },
  {
   "state": "FL",
   "small_loan_denial_pct": 48.7,
   "big_loan_denial_pct": 22.2,
   "penalty_ratio": 2.19,
   "denial_rate_pct": 24.5,
   "decisioned_applications": 117742
  },
  {
   "state": "VA",
   "small_loan_denial_pct": 41.2,
   "big_loan_denial_pct": 18.9,
   "penalty_ratio": 2.18,
   "denial_rate_pct": 21.8,
   "decisioned_applications": 30894
  },
  {
   "state": "GA",
   "small_loan_denial_pct": 45.1,
   "big_loan_denial_pct": 20.8,
   "penalty_ratio": 2.17,
   "denial_rate_pct": 24.7,
   "decisioned_applications": 62244
  },
  {
   "state": "NJ",
   "small_loan_denial_pct": 49.3,
   "big_loan_denial_pct": 22.7,
   "penalty_ratio": 2.17,
   "denial_rate_pct": 24.9,
   "decisioned_applications": 24688
  },
  {
   "state": "VT",
   "small_loan_denial_pct": 46.5,
   "big_loan_denial_pct": 21.4,
   "penalty_ratio": 2.17,
   "denial_rate_pct": 27.4,
   "decisioned_applications": 1001
  },
  {
   "state": "WV",
   "small_loan_denial_pct": 34.0,
   "big_loan_denial_pct": 15.7,
   "penalty_ratio": 2.17,
   "denial_rate_pct": 23.6,
   "decisioned_applications": 6840
  },
  {
   "state": "MD",
   "small_loan_denial_pct": 46.1,
   "big_loan_denial_pct": 21.8,
   "penalty_ratio": 2.11,
   "denial_rate_pct": 24.2,
   "decisioned_applications": 25098
  },
  {
   "state": "KS",
   "small_loan_denial_pct": 33.5,
   "big_loan_denial_pct": 16.2,
   "penalty_ratio": 2.07,
   "denial_rate_pct": 22.7,
   "decisioned_applications": 9004
  },
  {
   "state": "MN",
   "small_loan_denial_pct": 38.2,
   "big_loan_denial_pct": 18.6,
   "penalty_ratio": 2.05,
   "denial_rate_pct": 22.1,
   "decisioned_applications": 13361
  },
  {
   "state": "PA",
   "small_loan_denial_pct": 38.9,
   "big_loan_denial_pct": 19.7,
   "penalty_ratio": 1.97,
   "denial_rate_pct": 25.6,
   "decisioned_applications": 36278
  },
  {
   "state": "IN",
   "small_loan_denial_pct": 33.3,
   "big_loan_denial_pct": 17.7,
   "penalty_ratio": 1.88,
   "denial_rate_pct": 22.5,
   "decisioned_applications": 34392
  },
  {
   "state": "TX",
   "small_loan_denial_pct": 27.0,
   "big_loan_denial_pct": 14.9,
   "penalty_ratio": 1.81,
   "denial_rate_pct": 15.7,
   "decisioned_applications": 129285
  },
  {
   "state": "OH",
   "small_loan_denial_pct": 32.6,
   "big_loan_denial_pct": 18.7,
   "penalty_ratio": 1.74,
   "denial_rate_pct": 23.0,
   "decisioned_applications": 46317
  },
  {
   "state": "IA",
   "small_loan_denial_pct": 33.7,
   "big_loan_denial_pct": 20.3,
   "penalty_ratio": 1.66,
   "denial_rate_pct": 24.9,
   "decisioned_applications": 8150
  },
  {
   "state": "MI",
   "small_loan_denial_pct": 35.8,
   "big_loan_denial_pct": 21.9,
   "penalty_ratio": 1.63,
   "denial_rate_pct": 27.4,
   "decisioned_applications": 32911
  },
  {
   "state": "IL",
   "small_loan_denial_pct": 35.1,
   "big_loan_denial_pct": 23.6,
   "penalty_ratio": 1.49,
   "denial_rate_pct": 27.5,
   "decisioned_applications": 33928
  },
  {
   "state": "NY",
   "small_loan_denial_pct": 34.5,
   "big_loan_denial_pct": 23.8,
   "penalty_ratio": 1.45,
   "denial_rate_pct": 25.3,
   "decisioned_applications": 21314
  },
  {
   "state": "PR",
   "small_loan_denial_pct": 18.6,
   "big_loan_denial_pct": 15.6,
   "penalty_ratio": 1.19,
   "denial_rate_pct": 17.8,
   "decisioned_applications": 7845
  }
 ],
 "meta": {
  "source": "CFPB Home Mortgage Disclosure Act 2025",
  "publisher": "FinanceRateCalc",
  "universe": "FHA applications (loan_type 2) reaching a credit decision (action_taken 1,2,3), excluding reverse mortgages; denial = action 3",
  "n": 1187606,
  "national_denial_rate_pct": 22.08,
  "method": "https://financeratecalc.com/methodology.html",
  "license": "CC BY 4.0",
  "dataset_doi": "10.5281/zenodo.21575105",
  "verification_status": "reproducible; not independently reproduced",
  "verify": "https://financeratecalc.com/reconciliation.html",
  "caveat": "Historical observations about institutions. Not ratings, not recommendations, not predictions about any individual application. Rates reflect applicant composition as well as lender practice."
 },
 "source_files": "api/state/{xx}.json",
 "license": "CC BY 4.0",
 "known_discrepancy": {
  "status": "OPEN 2026-09-15",
  "what": "benchmark.json q6 ground truth says the penalty ranges 'about 1.3x to 4.45x'; this file computes 1.19x to 4.45x over 48 states with published small/big splits. The maximum (Idaho, 4.45x, 53.4% vs 12.0%) agrees; the minimum does not. Until reconciled, cite the range with its universe."
 },
 "universe_id": "U-STATES-SMALLBIG-2025",
 "universes": "https://financeratecalc.com/universes.json"
}